Topic: Irrational. Bitcoin could fall to $800 (Read 849 times)

Every day comes with a good side of Bitcoin, in one way or the other, the benefit of BTC is being released to the system on a daily basis and these benefits should form the good news we have to continue to spread about BTC every day.

Sometimes, negative news can have bad effect on the growth of the system, and that is why I see some of the untrue news as being sponsored by people or government that doesn’t want the survival of the system, but we can still try our positive best to continue spreading good news about BTC.

Also, I think that whoever was to sell BTC has already done so. With every day is coming more positive information on the market which in my opinion means the end of the bear market and promises price increases.

You have to understand something very concrete, I will share it since it is one of the teachings that the books that I have read have left me: if the creators of the market, Strong Hands or Whales decide to take the bitcoin to 1 USD, they can do it, They have the money to do it, but why do not they do it? It is very easy, many people have built their castles in the air due to the emotion of bitcoin, and this produces money, and can not do away with the hen that lays the golden eggs.

From the point of view of any speculator, they know that this is possible, and that most speculators are interested in trying to win with the movements almost without taking into account the technology, many see it as a business. This analysis buries many paradigms of many people, but it is reality.

Now thinking rationally because all scenarios are possible, there is a certain inclination not to crash Bitcoin, because Bitcoin presents a structure according to Wyckoff's theory: Accumulation, Trend and Distribution, which moves away from any Bubble structure.

Many speculators already know that most people who invest in Bitcoin are generally any type of people with or without experience in the market, this makes speculators follow their market strategies, perhaps, that is why we see in these times a very long accumulation phase.

At some point, the bitcoin will rise  and enrich many, it is for this reason that any event that occurs in the market is not at all crazy or irrational, if we take into account the high volatility.

If there was a long term bet going on whether it would reach $800 or $800k in the next ten years i would put my money on the latter. There is too much demand now, especially in the south american areas, bitcoin has bottomed so the only way is up

Could....
I could get my dick sucked on a daily basis...
Bitcoin could of been a scam as everyone said, btc will never hit 1k again btc is dying ponzi... I bet a ball btc is not reaching 800.
Why would you fud.

Bitcoin can fall if always negative things come repeatedly, this is indeed very sad, this long decline makes a lot of speculation to feel lost and must survive to get the good will come. We survive for better development and positive news will come to give a reasonable increase.

It is not really that different than what happened during the bull market, when the market was going up and we were close to the top there were people predicting 50k or even 100k to be reached during 2018, and we know how that ended, so we are seeing the same thing happening again, and about your last question investors and traders are completely obsessed with the moment of getting into the market as if that was all what was necessary to make profits but anyone with experience in the markets knows that your entry is not really that important.

There is always possibility for price to fall down but usually there are some reasons behind that. From this prediction for price to go as low as 800$ I see only guessing but not some ground or explanations. And even if we accept the theory that price will dump so much this will not happen over night. Some serious signs or continuous fall would have happened before that. So I don't think such huge downfall will happen.

The price could fall that low if there is some form of decrease in the usage around the globe. Regularly the usage and adoption keeps growing. This assures with the growth rather than fall in value. The market is drastically fallen, but if it was to reach $800, we could have touched by the days when bitcoin showed signs of continued fall. Now the market has gained resistance and the same is making it progress forward reaching $6000 at the earliest as most users predicted.

It's all guesswork, true. Just there are "hard incidents" taking place this year, just take a look at great brittain. There will be a hard "Brexit" and people *will* have to struggle making payments across new borders. And it's good advise to flee the Pound into Bitcoin right now.
Some two weeks still left to accomplish that.

Then whats next? Bitcoin would be back to under $100 ,
Anything is possible but don't you think that $800 is so low even if we compare it to the current price ?
It is really hard to see how could it drop down to $800 .
If I am not wrong when Bitcoin already hit about $1,500 it never get back down below $1,000 .
What else now that it is around $3,800.

I don't believe such as predictions about bitcoin price. We can see on last year, someone predict 10K,  someone 3K and many more. So eventually someone's predictions will correct. Because everyone give different predictions. So usually price will match with someone. But true is bitcoin walking on own way. Strong support on paste year was $3K. In my opinions it was bear market. So I don't think personally bitcoin will break $3K zone. If break then strong support will be $1.5K. So I will not believe bitcoin will hit $800 anymore.

That will probably change in an instant. Speculations aare circulating to create FOMO and FUD making investors to panic sell their coins. Whales can easily change the market flow. If that's gonna happen, many investors will turn down and leave cryptocurrency.

Its impossible mate and it sounds like you saying as well that soon bitcoin will die soon or later such FUD's. Lol do you read some news? Or you are just making your a prediction own your own  which is fake just to intimidate buyers not to buy because you still want to see another dump because you cant afford the current price of bitcoin?. Well it's sad mate because unfortunately it will pump now to new stage.  Lol

Although, are some exchanges easier to shutdown than others? BTC-e's shutdown was quick and easy, but Bitfinex was always rumored to be shutdown, its bank accounts closed by its banking partners, it was also hacked with millions stolen, and it was "broke" and forced to issue its own tokens.

Bitfinex is still standing.

Predicting for the value of the bitcoin at $800 is not good because maybe other will panic selling that cause again dumping. Predicting is free and everyone can predict what is the possible price for the bitcoin. But $800 is really low and I hope it will not happen this year but for sure and 100 percent in the future that will happen but not today. I hope maybe we can predict $8000 not $800.

i'm pretty sure it doesn't matter where their headquarters are (or used to be), or where their registration is (the british virgin islands). what matters is where their bank accounts are. how the USA usually operates is to seize bank accounts and force payment processors to freeze funds. that's how they destroy offshore businesses. bitfinex and tether are wiring USD to customers, so they are obviously exposed to this seizure risk. their .com domains can also easily be seized.

I believe not everywhere, especially not in China's jurisdiction, which includes Hong Kong. Plus not with Donald Trump's trade-war going on against China.

I believe Bitfnex would have been one of the first exchanges to shutdown by the US if they knew China would cooperate.

good for you because you are already immune and strong  but what about us ?  we are scared of anything that could happen to bitcoin , how much more if its value drop down to 800 usd ? i dont know what to do , maybe i will panic instantly but not to the point of selling my coins .  rather ill panic buy because 800 usd is a one good oppurtunity that strikes rarely  .  the ones that will panic sell are totally out of thier minds  .

The US has jurisdiction wherever they say they do. It's funny because even though Bitfinex prohibited US customers, the launch of CFTC-regulated futures markets put any company dealing in the spot markets under their perceived jurisdiction. That's why the CFTC launched the investigation around the time the Cboe and CME markets were launched.

Who would have thought they could take down BTC-e or the offshore darknet marketplaces and things like that? They do that kind of stuff all the time. I'll bet the reason they haven't come closed in on Bitfinex yet is the complicated web of shell companies and banks that Bitfinex uses. Like Giancarlo the CFO said once, they bank like criminals. I wouldn't plan on this situation continuing indefinitely. It's a time bomb waiting to go off.

At present, I am not surprised at anything, even if it happens that for some reason unprecedented to me, the price of bitcoin drops to $ 800, which most likely will not cause me a special shock, I will just continue to look this philosophically as i do it now. It's hard to surprise me with anything.

I don't think there is any analysis behind this predictions and it look like it was a random prediction.  It might not be possible for bitcoin to get to $800 again however in cryptocurrencies notting is impossible. 

so easily people analyze without thinking about the conditions in all exchanges, in fact between $1000 to $2000 there are too many requests that will limit each jump. well there are a lot of walls that we call even too much so it is difficult to crash $800, attracting users to follow only with arguments

Everyone has their own predictions, and for the bitcoin forecast to fall for $ 800, I think that's just a prediction of random origin, and I don't believe that.

The guy woke up, turned on his computer, and decided that $4,600 is where he'll enter his short-sell order. $800 is where he'll enter his buy to cover. Hahaha.

It is hard to say, as far as i believe that bitcoin is hard to fall below 3000 usd as it has a massive support at 3k usd. if it breaks below it then 800 usd is not far.

It's rather obvious. Reasonable predictions are just a boring thing which gets no traffic, it's just a matter of clicks. More clicks = more ad revenue. That's all that matters.

As far as the prediction itself, once again seems to be the same hyperwave thing that Tyler Jenks is spreading. At the same time Tyler Jenks makes long term predictions of $10,000,000 per BTC, so there's that. A man of extremes indeed. It's how his hyperwave model works.

I think it will be, as always, a medium thing. The pessimists get it wrong, the optimists get it wrong. I don't see bitcoin going below $1000. The bull orders are just too thick.

Because there are a lot of people whos bothered by the possibility for this to happen and worry about the future of Bitcoin and their investment.
For me, I dont even care for the price to go as deep as that number, it doesnt stay that figure forever anyway.

basically the guy woke up, took his coffee, turned on his computer and entered the twitter and chose two random numbers:

$800 and $4600

And posted its price forecast. Why the hell do we have to take this bullshit seriously?

No, it means we could have reached the real bottom. At 6k the price was unstable, going back and forth, first to 11k, then 9k, and lastly, to 8k. When 6k got stabilized, it lasted for three months and a half, then falling to 3k.

However, at 3k the price didnt go back to 6k, didnt have any spike to the previous levels. The price just stayed stabilized at this level, until recently, when it touched 4k. Instead of crazy spikes, we are now having a gradual rising. This could mean 3k was the real bottom, and we cant go any lower.

This is true.


But look at the difference between everyone's mood and their behavior when they thought $6,000 was the bottom, and to now when everyone believes that $3,000 support might break.

It might give us different outcomes based on different maket behavior, and reactions.


This is one reason why Bitcoin would not crash, or capitulate. Everyone is already expecting it.

It depends on how you look at things. While we were hovering between $6000-$7000 people called you a fud spreader for pointing out that a $3000 visit isn't all that unlikely before the end of 2019.

Admittedly, $800 looks unreasonably low, but I don't rule out a horror flash crash that could tank the price under $2000 but that's just me being realistic. I don't think it will happen, but I'm not going to discard the event entirely.

Look at $800 from this perspective: it's way easier to double from $800 to $1600 than to double from where we are right now to $7500. If it would drop under $2000 I will go big on Bitcoin, like extremely big.

While the plebs wait, the whalecumulators keep accumulating.

OR, some plebs may have become smarter, that they won't sell any of their coins. Which would be the best decision for their investment in my opinion.

I am not sure it will happen at this time. The development of bitcoin at the time was so good and should have increased. This needs to be appreciated because currently the number of Bitcoin users is increasing, so there are no indicators that can cause the price of Bitcoin to decline to 800USD. As long as we believe in bitcoin then the price of Bitcoin will remain positive.

$800 is way to unrealistic for now, it stopping point is $3000 from the way I see it. But even if it lowered to that price of $800; does it really matter?
The price of Bitcoin will be unbeatable in the future so gladly accept any price you see now, it future will be remarkable.

I believe that the analysis was made in other to create FUD and makes investors to began to sell their holding out of panic.  If thoroughly we are to see bitcoin falling to $800 it should not be now that it is a bit doing somehow well.

Market declines make people think negatively and think that bitcoin will decline further, a decline can occur but if it reaches the $ 800 point it will not be possible.

Don't fall on that Fud's bro. Just stay away on it because it cant help on this situation, wherein i suggest to focus on your strategy to minimize risk situation . Actually $800 is very impossible to be honest which even though the market keep fluctuating it will never happen in my opinion. So much better to dont mind it and keep believing  that soon there's still a brighter future with bitcoin

Positive news is meaningless right now. We've had heaps of it, yet it doesn't even remotely dent the price.

I think it's safe to say that most whales are just as surprised about how brutal the 50% crash was as you guys are. Don't forget that the sellers are dumping into buy orders, which means that for everyone selling there are buyers on the other side of the book seeing their paper value tank as the price tanks.

People just need to acknowledge the nature of this market. On the way up no one complained, and now people don't get what they want anymore, it's a problem. 

doesn't that just mean we haven't really bounced yet?

the february bottom looked like a real capitulation IMO. this time i'm not sure i believe it. especially because people seem so quick to declare we've seen the bottom. short term can go either way but over the next several months i'm seeing more blood coming.

It will not be that simple. I believe if the DOJ or the CFTC really had jurisdiction in Hong Kong, they would have shutdown Bitfinex by now.

I was talking about a continuous price. It had plunged to 6k in February, but then it raised up back to 11k.

Continously, 6k starts in August, with a peak to 7k. The previous level would be 8-9k.

Right now, we didnt had any return to 6k. It has been 3k continuously since November, touching only 4k recently.

For a long time, I think that the price of Bitcoin will not fall below $3k. If the whales wanted to lower the price more, they would not let that so much positive information appear on the market and would create a lot of negative information to make it easier to make panic sell again. $800 is impossible.

price first bounced off $6k in february last year. we crashed to $3k in november. (9 months)

it hasn't even been 3 months yet since the last swing low.


here's one possible source: the CFTC and DOJ are actively investigating tether and bitfinex. imagine what happens to the price if the feds take down their sites and seize lots of their bank accounts.

Even I feel this will not happen most probably the big whales are spreading FUD's to buy coin for more cheaper price, few are busy expecting bull run in this forum and here is a scary news. I still believe it will not lose its reputation which might not go low below 3k.

We are going sideways now. So the tide is changing.
There might be a few tests for lower prices but I doubt that we will go below $3000.

Bitcoin will not go under $1000 and most likely will not go under $2000 either. We are still waiting to go under $3000. Eventually it might happen that not even that will get delivered.

I agree with OP. That Twitter account is being built up for a purpose. Yes I know, tinfoil hats on.

But we have seen how some schemers in Bitcoin Land play the game, like Roger Ver, Faketoshi, and some people like Kevin Pham who pretend to be a commited Bitcoiner, gain thousands of followers, then turn around and support Bitcoin Cash SV as "the real Bitcoin". Hahaha.

going from $6k down to $3k had nothing to do with "taking profit", it was purely based on manipulation and panic because of the bcash fork FUD attack and the market was ready at that point to either see a launch or a panic sell wave like this.
the thing about drops is that the lower we go, the bigger a drama/FUD we need. and there is no more FUD remaining that can have any kind of significant effect on the price.

There is reason why is this happening, maybe whales are trying to dump the market again so they can buy a cheaper bitcoin because we all know that the next halving will begin next year and the price can be more expensive that can actually generate profit to them. I don't see a trend for bitcoin to go lower than $2k again. We will rise for sure, the bottom was hit already.

I don't agree with your analysis, I don't see any chances of bitcoin dropping to even as low as $2000 in the nearest future, the initial drop was actually caused by the uptrend in 2017 which lead to over 1000% profit in bitcoin, so everyone who benefited began to take out profit since it was predicted by experts that the price might not go pass $20000 and it's advisable to take out profit.

The correction began in the market all through the year 2018 and it's now time to see a bull run.

Those technical analysis wouldn't work as far as BTC price is concerned Bitcoin does defies those TA in most cases without any doubt bitcoin can never fall to $800, so many predictions during last BTC ATH that it would hit $50K backed with TA by the so called expert traders however in the long run BTC defies their predictions and pullback to a bearish run which is presently experienced likewise this prediction wouldn't stand test of time.

This post is total rubbish to me because of people who keep FOMOing and following the trend just to create a FUD to everyone. Where do you get this $800 anyway? So do you think Bitcoin would dive in straight at the bottom while you drew some lines like that? Do you remember that we have whales? So by the time a bullish trend start, they will eventually make the biggest changes in the market too.

Bitcoin could fall to $800. Acknowledging that isn't irrational. There's even a decent bear case to be made.

But this dude didn't make a good case. His chart has no respect for historical support and resistance. There's no reasoning behind the scope of the drop......another 80% drop, in a month? Seriously? Based on what? Yes this is a bear market, but we might as well predict $100 or $10 then. There's no rhyme or reason to this analysis. He's just predicting a crash so huge it's unprecedented, and based on zero evidence.

It's them choice if they want to listen to their prediction or not. But make sure the prediction is near to the realy or realistic. I alsp a lot of prediction who predicting a huge price for the bitcoin which is not happen for sure in the future. There is someone who predicting $1M for the bitcoin but this prediction now which is $800 is possible to happen because for sure in the end they have chances in the future that price will really happen.

Any form of change could happen with bitcoin, the price could fall low to $800. Why I say on a common man's view, because when the price was above $5000 it was predicted to be the low bottom and $5000 being a standard price for bitcoin. Things happened in the opposite way, and the same is the reason that bitcoin might go reach $800.

I would say it's a typical analysis posted by a so called "expert" in bitcoin price speculation, in a bear market.

Who the person that is posting this is honestly irrelevant, but technical analysis can be manipulated in different ways to produce different predictions to support a person's narrative, and can even create the illusion of authority in predictions. And I think that this is what is happening in a lot of these media outlets covering bitcoin price movements.

I simply don't see bitcoin going down to three digits any time soon, the fundamentals of bitcoin has only changed for the better since the ATH in 2017, and there is no reason to panic so hard now just because the sentiment of the market is bearish. The demand (especially institutional) for bitcoin will likewise pick up drastically when prices do fall through $2-3k, which would suggest a sizeable rebound before prices ever get to that low.

The analysis does not make sense, it seems an unfounded prediction, you have to do an analysis in which you consider almost all temporalities, it seems a bet. The technical analysis can help you a lot, but you have to take into account the values ​​that are now according to the current events, you leave out many elements.

it looks like garbage analysis. he's extrapolating the magnitude based on a past move---no regard for supply/demand and S/R, just elementary fractal "analysis" that would be laughed out the room by any competent traders.

he did it based on linear scale too. what an idiot.

$800 is possible, but this guy's analysis is garbage. the only truism here is that we're still stuck in a downtrend and the most likely long term direction is down.

Then why the price came down from $6000 to $3300? We can't really say that it may happen if the people are taking their profits out from their holdings but hopefully we are not going that much far.

all these predection prices bitcoin, for example: 100 usd or  800 or 1500 or 50000 or 100000 or 250000...... Unrealistic and Does not help stabilize prices. People have to be conscious
real price of bitcoin at this time should be 4500 and 7000 after 6 month

We may possibly have both of that happening right now. There has been so much FUD spread in the past few days about the price and that could serve as ridicule of true believers. And hodlers may as well be cutting their losses. Exchanges are always going on, so it's quite impossible to pinpoint a time when hodlers pack up.

I take FUD as well as FOMO with lots of reservation. Amd I'd prefer if members stopped propagating them here on the forum.

Anyone else feel like we haven't really hit the despair stage yet? Once we see HODLers giving up and selling at a loss, and the true believers being mocked and ridiculed, I think we'll be there and truly have our bottom. Will it take $800 BTC to get there? Probably not, but I do expect we'll have at least one more steep drop followed by months of sideways movement before we're really out of this bear market.

I dont think we will go to three-digits anymore.

Price is on this level for a longer time than it was on the 6000s.

Nobody knows for the future, it could be true that bitcoin fell at a price of $800, but that possibility is very small given the popularity of bitcoin. Honestly, I never thought that would happen.

There has been people who said bitcoin could go to a million dollars as well. Both sides have their crazy people and at least us people who have common sense and a bit of bitcoin do not follow these type of people, it would be horrible if most people followed these kinds of people and invested accordingly. Could bitcoin hit 800 dollars ? Mathematically of course, it could even hit 1 cent, after all its a mathematical deal and we can is it either 1 cent or 1 billion and nothing would stop that.

Moreover, in reality 800 dollars will never happen again in all of bitcoins life, never again, not now not in the distant future, those days are long gone behind us now. Could it drop a bit ? Sure, maybe who knows it could even reach under 3 thousand dollars, I doubt it but its not impossible but 800 dollars is just waaaaaay too irrational.

Could this be an end of crypto's? If bitcoin goes to $800 then how about the alts which are following BTC from long days. Most probably this will not happen however we need to be ready to stick to any kind of situation. predictions these days don't work.

This is not new as there are naysayers and doomsday predictors that linger around the crypto ecosystem even before the strings of bad luck happened to bitcoin. Sub-$1000 predictions had been around ever since the $19k ATH was broken, so I guess it will not be completely dissolved as long as we are still experiencing a bear market.

As if we're not already used to these kind of statements and analyses that pop every now and then? They are shilling for whatever motives they have and that's fine for me.

Even it was blown 100$,  Just HODLing.
This user refers to 732$ and to analyzes based on what happened in the past which appears to be incorrect due to changing circumstances. "Events can’t be gleaned from the past and then build future analyzes on it."
I know an economist still thinks that Bitcoin is a Ponzi scheme. Do not rely on other people's assessment, do what you believe in.

Always initial bitcoin miners and big whales are driving the BTC value with some stability. I really do not agree with others whoever feels that bitcoin fall under 1k USD. This is not at all possible then next halving we gonna meet for BTC.
This all these will give benchmark bump in the crypto market especially Bitcoins.

Let us wait and see the updation from the various blockchain and technology. It will be really helpful for us.

Thats complete nonsense. The cost of mining BTC alone and the investment of big miners is enough to keep the price way above those limits as they themselves  would just start buying it just to keep the prices high using their huge amounts of capital earned over the years.

We are probably already hit rock bottom since prices are stable for months and a reversal in market psychology leading to another boom is coming. Just look at the advancements in the sector its almost only positive news everyday for over a year now.

I really think this is just a manipulation strategy and a solid FUD by most people that want the price to really go down, there is a possibility because the market is really volatile and unpredictable but the $800 price is really very low for a speculation in my analysis the price of BTC can still go down to $2000 USD and will be not any further go down from that value, I guess they really want to set an uproar to some weak hands so they would sell their bitcoin and they can buy cheap.

Totally agree, a bitcoin movement happened a few hours ago, it went down in price, without volume, that is, there is not much demand, maybe Strong Hands are preparing a bullish movement to try new price levels, it is time to verify the offer in new price ranges, if the bitcoin keeps falling, it is possible, but it will not have any effect on the level of speculation, many want to accumulate bitcoins, but they will not get them so cheap, a good bull can be preparing at this moment and return to a green market.

There are dozens of predictions like this , some saying price will go to $50k other saying it will go under 1000$. So its better not to listen to anyone since everyone has different opinions and they are always going to come with arguments why price will go up or down doesnt matter if we are in bear or bull market.

Hey these scam artists are popping up everyday and, not just on Twitter each and every social media as such news are clickbaits and people will share them due to fear. I’m not even reading one line what he has to say, as these analysts have zero knowledge of crypto’s most of them are PR people who’re making catchy headlines for traffic. I think such news should not be shared only, let this news die a slow death.

This could happen since we say everything is possible in btc but the thing is they have different percentage or chance. No matter what the current situation is, there is always someone that give prediction for rise and fall. That is just a prediction and you have your own mind. So it's up to you if you were going to believe such prediction. Mine, I don't believe this.

This statement seems totally rubbish for me.
I can't really understand what lies behind their claims and what is the point of realizing fake information to the public.

I have stopped reading the news that they do not come from credible websites. This way I keep my trading decisions untouched from manipulative information.

Why $800 not $700 or $900? Looks to me like somebody just plucked $800 out of the air to try & creare shock value. No way we’re going to $800.

You predict, I am not sure what you are saying,
I give a little meaning to predictions: you could say: (predictions and estimates) to come,
Bitcoin is one digital currency, or cryptocurrency which is very well known today, many investors, who are investing in Bitcoin. To come, Bitcoin I'm sure it will break at the level of $ 15,000 to $ 20000,
Now, again predicting, in this world no one can say what will happen for tomorrow and for the future.
remember: a virtual tribe from the United States, who predicts [doomsday will occur in 2012] is one of the irresponsible statements, Silly.

For 800$ all whales have to sell at the same time or in quick time to make that fall happen . Which is like very difficulty to happen unless all government clearly state that it is illegal to use and ban them then only quite possible that it will fall to that extent .

Could be, but the account has like 2k followers lmao. I find it more likely that he just wants more attention towards himself. Looks like he achieved it too, though I have no idea why crypto news outlets would want to pick up predictions from a basically unkown entity. Must be a slow news day just like it has been for the past couple of months lol.

800 USD bitcoin price is absolutely possible.We are in the hands of the crypto whales and the HODLers.
If they decide to sell,the price goes unser 1K USD for sure(which isn't always bad).Even if the price falls to 800 USD,I still believe that it can reach a new ATH somewhere around 2021.

that is not called "bear market irrationality", that my friend is a clear case of FUD from people who want to either short bitcoin right now or have some open low bid orders that they are getting desperate to fill. drawing some meaningless lines on a chart doesn't make it any better either. unfortunately they benefit from the fact that most people don't even know what TA is and when they see lines on a chart think that is it

besides this is 2015 all over again. back then people were calling for $50 and lower. we even had our very own duck who only sang the doomsday song for bitcoin.

Seems like bear market really hurt a lot of people. I've been looking at some serious or probably hyper negative scenario when somebody even predict Bitcoin could reach $100 this year. It's quite fun to read actually, not saying I believe their theories because 19:20 prediction is always wrong. I don't know why people keep posting stuff like this, unless they want to cause panic so more people will sell while they can buy cheap.

These $800 predictions are just as crazy as the people predicting $50K or $100K or $1,000,000 bitcoin.

I looked at the chart posted, sure it "could" happen but so could hundreds of other scenarios. Basically TA is at best maybe correct 50% of the time under certain scenarios such as strong bullish or bear market trends. Usually when you are looking at a chart in that scale, its very difficult to predict what will happen.

If they are so certain it will hit $800, then they should just go short 100x and make millions of dollars in doing so and cover their short at the $800 mark and go long.

One of the responding tweets sum up exactly what I feel about this:


I don't think $800 could be ruled out considering the market's unpredictability, but I don't think there has been any indication that such a hefty drop would be likely. He probably just wanted to grab some attention, which he was able to do.

Yeah all these ridiculous sub $1000 predictions are pilling up which makes me consider that we may have already bottomed. It seems to be popular these days, with guys like Tyler Jenks promoting his "hyperwave" thing. Reminds me of the 2014 days with people predicting sub $100 prices. When those news and videos start getting tons of clicks it's pointing at it now happening. All those guys waiting for sub $100 prices fucked up and missed the boat, they were the ones FOMOing back in to not miss the rocket.

I was myself expecting sub $3000 prices for a final bottom but all those sub $1000 guys point at a really close bottom, to the point that it's becoming an insane gamble to just not buy in already. What does it matter if you get in at $3000 or $1000 when we are going to $100k anyway.

The cryptospace appears to be beginning to spread bear market irrationality. According to this clickbait news, an up and coming analyst that hides behind its twitter account name Financial Survivalism, bitcoin could drop to $800 if it fails to surmount a declining trendline at $4600.

I reckon the people who controls that Twitter account should talk to the now rational Tom Lee for advice hehehe.

Also, this news might be a scam effort to gain more followers for that account which might also be controlled by newbtc.com. I might also be irrational in this, however hehehe.

In any case, who owns newsbtc?



Another day, another foreboding piece of analysis. A leading analyst claims that as Bitcoin (BTC) has yet to break out of its current range, there’s a growing potential that the cryptocurrency could fractal, and undergo a drop that looks much like that seen in November of yesteryear.

Financial Survivalism, an up-and-coming analyst centered around Bitcoin, recently took to Twitter to issue a harrowing comment. He noted that the longer than BTC fails to surmount a long-term declining trendline at ~$4,600, the higher likelihood that the cryptocurrency’s price could “mirror the price action from September 20th to November 25th of last year.

Per the analyst, this would mean that BTC could trade flat for another two to three months, before falling dramatically to the $800 price point. This, of course, is a worst-case scenario, but Survivalism does allude to a good point about market cycles and behavioral finance.

Read in full https://www.newsbtc.com/2019/03/03/bitcoin-collapse-800-late-2018s-plunge-mirrored-crypto-analyst/