Topic: Huge drop happening within 48 hours! (Update: BTC Price on Sept 5th) - page 5. (Read 1224 times)

It's a 'joke' people don't seem to be keen on accepting as such with all the clowns we have predicting the price to go up and down. They only show up and claim being right once they are lucky enough to actually be right.

Honestly speaking, you seem to be leaning towards one of these type as well. Also, you being right holds no significance if you don't put your money where your mouth is. So convinced yet nothing you did to benefit from this 'obvious' drop.

You are a joke. I saw it to.  But it dont really matter, huge drop can also happen in 48 weeks.

12345 ftw    simple logic works, remember the SPY low after Lehmans failed was 666 which is probably because half because its so easy to type and also memorable.      Any common factor matters if its shared by those in the market, the problem BTC has is the price is global not in dollars really or thats how I see it.



Decent drop but not huge by BTC standards.    Lets see it confirm the break of trend, its already failed to challenge 50 day moving average and its suffered a loss because of that partly I think.     Really we now enter into the daily bars argument and it can come back, I'm a wuss I want to see it whipsaw up and then bet it goes down because that gives me the cheapest chance to be right.
    Right this moment you might get some pain if trying to jump on the band wagon as theres many people who buy in wanting another bounce.



I read back the OP and I still dont grasp the reasoning, you seem quite certain.   Sentiment ?   hard to gauge this and in which areas, the whole of twitter out weighs anything we think, 50 cent could pipe up and say something and make us all wrong.   Only thing I trust is the charts because it contains all opinions to some extent and historic momentum, volume.   I gave a merit anyway for the audacity to make an outright call in the speculation forum.   8k would be significant.

Don't worry DrBitcoin, it your prophesy will come true, and then some. Long term support levels were just broken pretty hard, and with big volume that is too. The slaughter will not end here, i can tell you that.
Technically the bears are back in control.
Add to that the sell-off that is coming from the Craig-Kleiman case. We're set for a 3-4k range by the end of September.

As a former winner of micgoosen's prediction game, you know better than most how this happens!

And didn't someone in the last round almost win with a random Q2 price guess of $12345?

Experts have too much skin in the game, to borrow from someone's theory about Bitcoin value. When you got too much in the game, you can't think clearly. Random guys with no wool over their eyes more likely to aim truer.

I know I just said a bunch of nonsense. But that's how it is.

Dude. It’s all kind of a joke. I’m not claiming to be a visionary. I get a lot wrong. Probably more wrong than right.

Dude, it needs to drop more before you can claim & victory on this prediction. If we go to $8500 then you can claim to be a visionary

That was a joke. I thought 48 hours wasn’t going to happen, so I made a joke “I meant 48 days.” But it was intended as a joke responding to someone else’s comment. I deleted it because the drop happened as predicted so it no longer made sense.

The original post was 48 hours. NOT 48 days. Read the first few responses it confirms this.

Saw that too. Backpedalling like this killed most of your credibility sadly.

I made lots of wrong predictions in the past. Just take it in the butt and move on. You are not the first one who made a wrong prediction.

Would you also write in the title of this thread 'I WAS WRONG' if we broke out to the upside? I guess not.

A breakout was imminent, the direction was more of a bet call with a 50% probability of being right. I do expect a bounce back up to $10,000 in the coming days rather than a further decline, but that's if we respect the descending triangle for the time being. If not, then we can see the price dip below $8000 fast. In that case I'm looking to be a buyer in the lower $7000 area.

We'll see where it goes. Bitcoin never fails to disappoint. 

Your prediction was 48 days. You deleted the post where you said it was a typo and you meant 48 days.

Fair enough. I think at this point I should be given another 48 hours to reach 8K. I got the time and direction right, and while there still is time to hit 8K in the original 48 hour period, hitting it a day or two later wouldn’t be that off. Of course if it doesn’t hit 8K during this time I was flat out wrong about that.

We are still not in $8k range and this very well may jump back above $10k+ but I still merit'ed you because of the recent action.

Don't act like nostradamus, yet. Come back when we see 8k.

Possibly. I’ve been in this space since 2014 and check my history here. I am definitely an amateur but I go with my gut

good call, DrBitcoin. now that we've broken down from this 2-week long flag and made new lows, it's highly likely to at least retest the $9100 area. i'm wondering if we might crash through those lows (triple bottoms are unicorns!) and get a deep final shakeout to liquidate/scare off longs.

bitfinex/bitmex sentiment is still bullish. $7500-$8k still possible IMO.

We are dropping like a rock. $9800

Too early to dismiss my prediction.

Looks like your comment might not age well!!!

I honestly wouldn't be surprised if random guesses from amateurs performed better than predictions from Brian Kelly, Tom Lee, and other prominent "experts."


Descending wedges are a bullish pattern, perhaps a weak performer though. This is what Tom Bulkowski has to say about them: http://thepatternsite.com/fallwedge.html

The OP is saying everyone else is bullish and he's taking the contrarian position.


I more or less agree, and that's one of the reasons I don't think we're ready to go up yet. Longs are high, shorts are low, and sentiment is not bearish. If anything it's leaning bullish. These aren't the usual conditions from which a significant upside breakout occurs. It's usually when everyone expects down that we go up. We're not there yet.

I told it some days ago, wouldn't be surprised if it goes below $7,500. But now I'm more and more confident the scenario will happen.
At least we will be fixed to know if the downtrend continues or not. We turned to a fear period for some days.

By the way




https://twitter.com/TheCryptomist/status/1166347470902833154

We just dropped to 10K in 1 min. I think it’s starting.

Well, nothing happened so far, but dude said 48 hours so let's wait until tomorrow to start saying he was wrong.

However, it looks like he was totally wrong, what people have not realized even after years and years of following bitcoin is that price doesn't have to do anything you expect it to do, SMA or BB or whatever could be looking like it will definitely go up or down, like there is no way its not doing that, the charts say exactly whats about to happen and no way around it, it would still do some crazy move and you wouldn't believe it.

Hence, I say do not get too attached to charts because none of that matters when it comes down to bitcoin. Bitcoin is a decentralized unregulated currency with a market that is used by ton of people all around the world from every country, anything could happen with those calculations.