Topic: It only takes breaking the psychological barrier of 1K twice to go several moons (Read 2044 times)

1000 dollars is the last barrier we have before entering in the exponential growth of the S curve trendline.

when that happens, i think it will become such a big meme that $15000+ will soon follow, lol.

Oh ok that is what I figured, you have no real explanation and your attempting to spread the fud propaganda for newbies who don't know any better.  Good luck with that, I was just looking for some real insight on your claim of Bitcoin not breaking $1000 ever again..

funny that you call TA bullshit while touting FA, when FA in bitcoin is completely abstract. bitcoin is not a stock -- fundamentals are based on speculating on future earnings. so one is limited to gauging "interest" in bitcoin -- what a bloody nightmare. completely abstract.

regarding user adoption, the number of new wallets or core downloads are terribly unreliable data. google trends historically lags so far behind that it is likely a horrible indicator. sure, merchant adoption drives price down in the mid term, but we have no reliable data as to the end condition of fiat inflow vs. fiat outflow.

fundamental analysis is based on crazy, crazy speculation. this is why many pure FAers around here are in the "million dollar bitcoins in 10 years" camp. because they rely on horribly misused data and controversial/unproven theories like Metcalfe's "law" to come to those conclusions.

TA at least visually represents who is selling and who is buying, at what volumes and with what momentum. this can tell you a lot about how people perceive the price of bitcoin and its future. there are some good arguments as to why TA is useful here: https://bitcointalk.org/index.php?topic=678470.0;all

why do you assume the ETF won't be approved? and by the way, how do you "short-term trade" BTC based on fundamental analysis? serious question.

Technical analysis is bullshit. I only look at the fundamentals.

There's nothing that can drive Bitcoin back to its ATH, or anywhere near it. Willybot's manipulation games were the specific historical circumstances that drove the November 2013 rally.

Look at the statistics of user adoption, and you'll see that BTC is declining. It's not as high up in Google searchtrends as it used to be, and the Average Joe is smart enough to stay away from this speculative pyramid scheme. Meanwhile, increased merchant adoption is obviously driving price down, an undeniable fact noted by every knowledgeable observer.

The Winklevii ETF is already priced in. When insiders learn that the ETF won't be approved, they'll start dumping their coins. The price will plummet, and the cultist permabulls will panic sell until BTC settles at 250ish prices. Shortly after that, it'll bounce up to 370 or so.

Bitcoin is not going to zero anytime soon, but it's in a bear market and will stay there for the unforeseeable future, whether the cultists like it or not.

But BTC is quite good for short-term trading.

Don't underestimate the power of psychology, and in aggregate, market psychology. We could certainly pass $1k, perhaps even push for a slightly higher ATH..... but if the bubble doesn't then materialize, serious despair will set in. Too many bitcoin holders are emotionally and financially invested in another bubble. I don't like to project this far into the future, but this is a higher probability outcome in my view than straight to $5k or $10k or $1 million (whatever you bubble guys are always saying).

If you look at weekly charts + momentum (RSI, RMI, etc), the last bubble was much less powerful than the early 2013 bubble. Don't be surprised if the next "bubble" continues in this fashion -- or fails entirely as longterm momentum continues to break down.

I tend to agree that we will without a doubt see Bitcoin over 1000$  I personally would like you to share some analysis for why it wouldn't, if I may ask?  I've read many posts on this forum suggesting the price of a Single Bitcoin being much higher then $1000. 

Now you come out and say it will never happen ever?  My mind is blown that you could claim BTC could never go that high again.  So any technical analysis you could share to explain your point further is again much appreciated.

Calm down and enjoy the ride up.

Purpose?
This is how a free market operates. Supply and demand. Sellers and buyers agree on a price they find reasonable at the time.

It's not either "death or victory". Bitcoin will almost seem stable, just gently continuing its downward path, with small ups and downs now and then.

Talking about a slow period is different than saying it will never go higher again. What's the purpose of Bitcoin at current levels of use (hint: none in the long run). It is either death or victory. I put my chances on victory. Still the best asymmetric bet out there.

Sounds like you read that article about the blockchain becoming larger and larger therefore not maintainable by old shitpcs.

I'm talking about the slow, gradual decline of Bitcoin, where weak hands will be shaken out, one after the other.

What the fuck are you talking about?

1k will never be reached again. The best you can hope for is 700ish prices sometime next year. But it's quite likely that we've already entered the final capitulation stage.

So we need to break the "psychological barrier" of 1k not once... but twice? *Then* it's lift off?

Wow, now I'm sold on the future of bitcoin. How could anyone argue that?

Can't wait til these pics are posted all over r/Bitcoin....

Thought da moon iz teh limit?!1

"butthurt in levels unknown to mankind" pmsl brilliant.  Falling you have been warned, last chance to stock up on the old KY and tampax.

Well said OP.

Seems legit.  Scientifically sound and valid...statistically proven likely...