Topic: Question on price projection - page 2. (Read 278 times)

How much are the losses you have right now?

Forget first about $1,000,000 but you can aim for $100,000 as you hold. We're all hoping for that price to come so think of it first if it's worth for you to cut losses.

But why did you invest in bitcoin? just because someone said it will shoot up?

I just keep this part out of the rest of this post which were probably written as a distraction. If you bought 3 years ago then you would be in profit. I guess your post implies that you bought right on the top at $18-20k. If you did that it is up to you to decide if cutting losses is the best course of action.

Wouldn't you have similar question last year when price reached 14k which is higher than now? What changed this time? Indicators are looking way better than last year and interest in Bitcoin is rising.
I think you created this post to cast doubts to the rest.

Many people said the same thing when Bitcoin was $14, $1500, $3500, and so on. The point is you need to decide on your own. Analysis is just an opinion, it's not facts. Even if they use sophisticated indicators like ichimoku cloud, moving average, etc, it's just technical stuff. This is why you should only put the money you can afford to loss so you can just chill out and hold for years.

 
Be wary about these kinds of projections. I really doubt if those analysts believe their own predictions. They are bold to say those prices because they know they can't be sued if they make a mistake. They also understand that most people forget quickly so they keep on talking. We've seen a lot of people like them and the most notable is John McAfee.

It's an open market.

If there are more buyers to break the resistance or sell walls, price will be pushed up but bear in mind that this will not last. Buyers will lose steam at some point and support will weaken. If that happens, expect more sellers to dump and push the price down. If there will be more buyers again, the same pattern will occur  It's a cycle.

This really depends on you. If you are getting impatient waiting for gains and it's stressing you out, you should probably take the loss and move on. Otherwise, ignore all the noise from these analysts and hodl.

why even follow these price projections? these people who have predicted these prices have no Idea if it will ever happen or not.

trade at your own will and do not let these predictions hold you back or decide what you need to do.

You said it yourself, why its moving on an assumption level where it can reach those price. Its because BTC is a speculative commodity and does not guaranteed any rate of success. It could fail if demands on it got  lower on the market.

Like mk4 said, if you really trust bitcoin then just hold it without any fear. You are not looking on long term perspective but viewing it as mid to short term goal.  If youre aiming for profits then go trading and even within an hour you can gain massive profits. But of course take precautions on its risk.

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Time will tell if were gonna reach that values but for the meantime, lets all see whether it could even beat its ATH.

Following price predictions that lasts a year or so would be very impossible to predict and take note that these theoretical guess are just simply being used as a reference to how bitcoin market will go and not on something that we should rely in the first place.

I bet that if you want the assurance of other people then many will say that you should at least "hold" or invest in something that will actually increase your bitcoin holdings.

Do not invest in any asset based off other people's predictions. There are so many profiles on social media who shill several coins (Bitcoin included) for personal gain. When you invest you bear the risk, and you should have knowledge of the fundamentals of the Bitcoin network inorder to build a projected ROI. In some cases you would also need knowledge on technical analysis to choose how and when to buy in.
If you bought during the last bull run which was 3 years ago you would be at a loss now, however it's a very small window; any other period that year except during the monthish length of the bull spike would leave you with a positive index. I would assume that monthish length was when you bought

The decision to cut your losses is still yours to make, you would likely get diverse advises on this thread, you however bear the risk and decide what to do with your investment. It would naturally be frustrating when it refuses to break above your buy in price, especially after such a long period. My advice;
• Stop following price projections, they are just personal opinions of others. Make efforts to understand what you are holding and build your own personal predictions.
• Research on other potential investments and if you are going to dump Bitcoin for another make an effort to choose the time to buy in to avoid joining the FOMO hype and buying at the top.
• Understand that market changes and there's no guarantee when investing.

Maybe you should stop reading about these so called "price projections" in the first place. No trader or investor could accurate price movements with pinpoint accuracy anyway simply because in the end it all boils down to the typical supply and demand. There are simply so much factors that could affect bitcoin's demand that it's next to impossible to predict prices.

If you think bitcoin is something that could be worth a lot more in the future, then hold. If not, then sell and invest in something that you're bullish in instead. It's that simple, really.

I've been holding a few bitcoins for about 3 years now and am wondering about the projected price.  We keep reading projections that it's going to go to $100,000 or $1,000,000 or some other sky-high amount in the next 1 to 3 years.  My question is how will this ever happen if every time it gains $500 to $1,000 we hit resistance where the bottom falls out and then all the analysts say it's because it was over-bought?  I'm starting to think I should cut my losses and sell.