Topic: It could take 6-24 months for Bitcoin to return to its level- Charlie Lee - page 4. (Read 624 times)
August 31, 2018, 09:03:46 AM
Yes the recovery maybe like 2013 but now the prices were already dropping for 8 months since the beginning of this year so we are halfway through maybe the prices will start to recover once all the ETF got the decision.But for now the prices were very cheap and it maybe the last time we can buy the bitcoins for this price so don't make too late if you are planning to buy bitcoins.
August 31, 2018, 08:58:32 AM
He may be right, but it's easy to make a prediction like this one. If it was coming from the average Joe, like me, folks would say it's bullshit.
I still think the Bitcoin will never go back up to where it was in December.
On one hand, there are people who will sell their bitcoins once it reaches ~$15,000, thinking that it will never go above $20,000 and that it is wiser to sell it now in order to avoid a loss if the price still spits and $15,000 is already good.
And on the other hand, all the people who invested when the price was at $20,000 will also sell their bitcoins thinking that at least they will not have any financial loss.
In the end, many people will sell their bitcoins when the price is $15k or $20k, and maybe the majority will do so. In the end, what happens if everyone sells their bitcoin? We could, therefore, see the same scenario, the price will fall heavily, and once it goes back up history will repeat itself again and again.
I still think the Bitcoin will never go back up to where it was in December.
On one hand, there are people who will sell their bitcoins once it reaches ~$15,000, thinking that it will never go above $20,000 and that it is wiser to sell it now in order to avoid a loss if the price still spits and $15,000 is already good.
And on the other hand, all the people who invested when the price was at $20,000 will also sell their bitcoins thinking that at least they will not have any financial loss.
In the end, many people will sell their bitcoins when the price is $15k or $20k, and maybe the majority will do so. In the end, what happens if everyone sells their bitcoin? We could, therefore, see the same scenario, the price will fall heavily, and once it goes back up history will repeat itself again and again.
August 31, 2018, 08:21:41 AM
This is a good thing to hear. Charlie Lee has stated how much he believes in the coin and has said nothing but good remarks about it. HE even believes that the future is bright for BTC
August 31, 2018, 08:11:46 AM
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.
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.
August 31, 2018, 07:57:24 AM
Bitcoin is really unpredictable and it cannot be said precisely how much time it will take to get back to its level. Hopefully it will take the minimum time possible and bounce back soon and initiate a bull market.
August 28, 2018, 07:44:54 AM
One of the cryptocurrency creators that had an early foresight on what cryptocurrencies will be to the world in the nearer future is Charlie lee, the former Google engineer who also worked with Coinbase, before leaving the later to focus on his created crypto litecoin, that could be mined.
In recent times, he said that everyone should try and own at least one bitcoin and in another commented that was widely published online, he said that bitcoin is the gold of cryptocurrency which could suggest that he is a bitcoin fan.
In a chat he had with CNBC which has a good inclination concerning crypto coverage, he was asked some question about plans to buy back litecoin which he sold out late last year and early this year, due to criticism, bitcoin crash and his prediction when when to expect a bitcon rise.
Commenting on what the value of bitcoin is presently and when he feels it could rise past the highest price of $20089 which it reached in Dec 2017, he said,
In answering question on what the present prices of different cryptocurrencies says about their future and usage, Charlie Lee said,
Source: https://zycrypto.com/it-could-take-6-24-months-for-bitcoin-to-return-to-its-level-litecoin-creator-charlie-lee/
In recent times, he said that everyone should try and own at least one bitcoin and in another commented that was widely published online, he said that bitcoin is the gold of cryptocurrency which could suggest that he is a bitcoin fan.
In a chat he had with CNBC which has a good inclination concerning crypto coverage, he was asked some question about plans to buy back litecoin which he sold out late last year and early this year, due to criticism, bitcoin crash and his prediction when when to expect a bitcon rise.
Commenting on what the value of bitcoin is presently and when he feels it could rise past the highest price of $20089 which it reached in Dec 2017, he said,
Quote
“It’s hard to predict prices, I’ve been in this space for 7 years now…sometimes it comes back within six months…sometimes it takes like three or four years,” Lee said, “it’s kind of hard to say.”
In answering question on what the present prices of different cryptocurrencies says about their future and usage, Charlie Lee said,
Quote
“I think, in terms of long-term, it tells us of the success of the cryptocurrency but in short-term, it doesn’t tell us much.” He further added, “For example, this year there has been so much adoption in Bitcoin and Litecoin but the prices have dropped like 60-70%. So, I think it’s because it’s so volatile, it’s all about speculation these days. But, in the future, the price will reflect the success of the cryptocurrencies.”
Source: https://zycrypto.com/it-could-take-6-24-months-for-bitcoin-to-return-to-its-level-litecoin-creator-charlie-lee/
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