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Topic: It could take 6-24 months for Bitcoin to return to its level- Charlie Lee (Read 624 times)

hero member
Activity: 742
Merit: 526
For altcoins, its going to be hard for them to recover because so many are competing and besides majority are scams anyways. Just look at the state of ETH right now, it has lost as much as 90% so its going to be a long road for recovery.

Bitcoin though is different, bulrun might be around the corner. Just one news will trigger a break out and who knows, we might see another all-time-high at the end of the year. There's still the ETF and Bakkt physical bitcoin future contract offerings as well.

From my point of view, I don't expect the bullrun for bitcoin waiting just around the corner, let alone seeing another ATH at the end of the year. But we don't need that as it would be detrimental to bitcoin because it will end up in absolutely the same crash. We need organic growth, steady and consistent, which would match the growth in bitcoin's application. We don't need rampant speculation anymore, at least not with bitcoin. If someone needs that, let them stick with altcoins, though I agree with you that the majority of altcoins are scams and they won't survive for long, apart from a few die-hard coins like doges and well-established coins like litecoin as their right to exist has been proven through years.
legendary
Activity: 2576
Merit: 1655
I believe it is a reasonable guess. We need to know that to restore the Crypto market is very difficult. Because this is a market where there is always manipulation and the value of each altcoins is unclear. Besides, there is too much bad news about Crypto that makes the recovery path more difficult than ever. so it takes a long time to get back to 20k $

For altcoins, its going to be hard for them to recover because so many are competing and besides majority are scams anyways. Just look at the state of ETH right now, it has lost as much as 90% so its going to be a long road for recovery.

Bitcoin though is different, bulrun might be around the corner. Just one news will trigger a break out and who knows, we might see another all-time-high at the end of the year. There's still the ETF and Bakkt physical bitcoin future contract offerings as well.
sr. member
Activity: 254
Merit: 250
https://www.soar.earth/
I completely agree with your his opinion. For most of amateur investors, Bitcoin price will pump at the time you never imagine, and when you awake, it claim the top of price. So, you should spend a part of your fund to hold BTC and wait.
jr. member
Activity: 34
Merit: 2
Many people give price estimates and explain to Bitcoin and other electronic money. I expect 3-6 months for a solid base of $ 10- $ 15k, with huge spikes to $ 30- $ 40k sometime during that time. Charle-lee like everyone else does nothing more than speculate on price. I do not think so, I think the price will start to rise and win the next stage
member
Activity: 459
Merit: 10
I believe it is a reasonable guess. We need to know that to restore the Crypto market is very difficult. Because this is a market where there is always manipulation and the value of each altcoins is unclear. Besides, there is too much bad news about Crypto that makes the recovery path more difficult than ever. so it takes a long time to get back to 20k $
hero member
Activity: 742
Merit: 526
usually bitcoin bear market will be for more than 2 years even the last bear market is same period so we can expect slow growth in this period

You're wrong about that. There's no usually because Bitcoin does not have its usual behavior yet. We only had one big bull market followed by one big bear market. It took two years because the situation of Bitcoin was looking really bad with MtGox going bankrupt, so many cloud mining scams. Real mining companies going bust, China blocking bitcoin to fiat transfers. It was much worse than it is now.

But haven't we already established a pattern in the bitcoin behavior? In the beginning of a cycle bitcoin slowly rises, which looks like natural, organic growth, if these terms are ever applicable to speculative assets in general and bitcoin specifically. This lasts about a year or so, maybe a little less than that. Then a fast-growth phase starts, which lasts for 2-3 months within which bitcoin rises a few times. After that comes a crash and the price drops within a few weeks. And in the end of the cycle bitcoin stagnates for about a year and a half.

Now we are in the stagnating phase which is going to last for another 7-8 months, which will slowly turn into a slow but somewhat accelerating growth again. Figuratively speaking, we are in the "dark ages" now.
member
Activity: 602
Merit: 10
It could be bitcoin recover need 2 years. We saw in market right now too many coin and token, new coin always created with new feature and advantages. Investor will diversified their investment in several coin and token and i am believe market cap will recover again but bitcoin price need more time to recover for reach highest price again
member
Activity: 392
Merit: 21
so far we are past the 6 months mark with a little less than 8 months of down time with no major rises and about 2 months of this 8 has been near stability price close to the bottom. so we may very well be at the end of the period which bitcoin required for its "recovery".
there is only one roadblock remaining and that is ETF, and I believe that as soon as we get past that we can start getting back on track.

I completely agree with you
ETF station is important but not all
Bitcoin is much larger and will pass this difficult test.
full member
Activity: 1442
Merit: 106
i would not be certain about the number of months it will take but i sure do know that it will take a long while before bitcoin powers back up in price  but one thing is for sure. it will not just come back up in price but it will moon at least 2x of its previous price.
hero member
Activity: 1834
Merit: 566

I respected what Charlie Lee said which i also agree cause the market correction/manipulation damage happened for a long time and it will take acouple of months for the price to hit another ATH. However, I also want the OP to know that all altcoin creator are all bitcoin fan because it was bitcoin utility and potentials that inspire the birth of their altcoin creation.
hero member
Activity: 2184
Merit: 531
usually bitcoin bear market will be for more than 2 years even the last bear market is same period so we can expect slow growth in this period

You're wrong about that. There's no usually because Bitcoin does not have its usual behavior yet. We only had one big bull market followed by one big bear market. It took two years because the situation of Bitcoin was looking really bad with MtGox going bankrupt, so many cloud mining scams. Real mining companies going bust, China blocking bitcoin to fiat transfers. It was much worse than it is now.
newbie
Activity: 77
Merit: 0
actually no one will know what will happen in the coming year. but in my opinion the price of bitcoin this year and next year will continue to fall. because it's time to go down after rising high in 2017. and maybe the price will recover and rise higher after 3-5 years to come.
newbie
Activity: 73
Merit: 0
No, I don't think that because already this year is left and still 6-24 months is impossible and i'm sure that it will start rising within 3 months.
member
Activity: 420
Merit: 11
usually bitcoin bear market will be for more than 2 years even the last bear market is same period so we can expect slow growth in this period
copper member
Activity: 109
Merit: 0
I have learnt not to listen to any analyst or whatever about what Bitcoin will or won't do. They are the ones manipulating prices. In a way I'm for regulation so all these will stop.
jr. member
Activity: 266
Merit: 1
I know charli lee how he works and his experience in cryptocurrency. I really do believe on what lee said that it could take more than a year for bitcoin to return on 10k price. This price might impossible this year but maybe next year bitcoin will grow and return to its level.
jr. member
Activity: 574
Merit: 1
I don't think it can take that long for it to recover.. The rate which it use to drop down was very fast and not even up to 6 month's
So the rise of it cannot also get to that extend..  I just believe in a short period of time it will rise again to the moon 🌜
member
Activity: 350
Merit: 15
I do not think so, I think that the price will start to rise and win the rebounds from the next period
jr. member
Activity: 252
Merit: 1
“The Protocol for the Audience Economy”
Charle-lee like everybody else is doing nothing more than speculating on price. Nobody knows what will happen
newbie
Activity: 38
Merit: 0
I presume 3-6 months for $10-$15k solid grounds, with a large spike to $30-$40k sometime in that period. A lot of people are going to lose again during the spike, because people just don't learn and are full of emotion.
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