It beats watching the price.
Topic: The bubble is bursting—what a relief! (Read 5322 times)
The most likely thing is that the market won't do what everyone thinks it will. I think it will be a correction, significant, but not 'back to single digits apocolypse'. Suspect we might see a slide back into the 100's, but I think any decline will be short lived as there are still an awful lot of people in the world that need to buy in, and the monetization of bitcoin is far from over.
The fundamentals point to a decline towards some $20. In fact, single digits would not really surprise me either.
I also think that the price decline will take more than 6 months, perhaps more than a year.
I agree that this will not kill bitcoin completely. It does damage to its reputation though.
Oh no... Bitcoin's reputation could be damaged? We're doomed...
necrobumping seems to be all the rage this week.
The most likely thing is that the market won't do what everyone thinks it will. I think it will be a correction, significant, but not 'back to single digits apocolypse'. Suspect we might see a slide back into the 100's, but I think any decline will be short lived as there are still an awful lot of people in the world that need to buy in, and the monetization of bitcoin is far from over.
The fundamentals point to a decline towards some $20. In fact, single digits would not really surprise me either.
I also think that the price decline will take more than 6 months, perhaps more than a year.
I agree that this will not kill bitcoin completely. It does damage to its reputation though.
Oh no... Bitcoin's reputation could be damaged? We're doomed...
Seriously, this old-post fishing is getting, erm; old.
The prediction is for a time span of 6 to 12 months, so far the typical time for the price to settle down after a burst bitcoin price bubble.
So until that time has passed, this thread should still be considered relevant.
Moving target it would seem.
Let the weak hands sell.
Seriously, this old-post fishing is getting, erm; old.
The prediction is for a time span of 6 to 12 months, so far the typical time for the price to settle down after a burst bitcoin price bubble.
So until that time has passed, this thread should still be considered relevant.
Yes, we have witnessed 1 burst and the time frame was ~9 Month. Therefore the typical time frame is ~9 Month.
...
Humanity has explored 1 Planet and it contained intelligent live. Therefore the typical Planet contains intelligent live.
Also, this thread never was relevant.
Seriously, this old-post fishing is getting, erm; old.
The prediction is for a time span of 6 to 12 months, so far the typical time for the price to settle down after a burst bitcoin price bubble.
So until that time has passed, this thread should still be considered relevant.
Why are you digging up this post that is two thirds of a month old? You may very well be a lovely, intelligent person, but this post was annoying because it was one of like 700 'bitcoin going to zero' troll posts that didn't really offer much else to the conversation aside from spreading FUD.
Seriously, this old-post fishing is getting, erm; old.
The point about forecasting Bitcoin price is that everybody else will have another opinion, thus easily agreeing that the forecaster must be an idiot.
Another idiotic bubble post.
Congratulations OP, you are just as retarded as the others.
Agreed. Congratulations OP, you are just as retarded as the others.
I do not quite understand what these messages mean. They both seem to agree that I am retarded, but they fail to explain how the posters got to that conclusion.
Because there was about 18480447048375626420476290275624 other threads in here that literally said the EXACT SAME THING?
Could you provide a link to one of them?
Another idiotic bubble post.
Congratulations OP, you are just as retarded as the others.
Agreed. Congratulations OP, you are just as retarded as the others.
I do not quite understand what these messages mean. They both seem to agree that I am retarded, but they fail to explain how the posters got to that conclusion.
Because there was about 18480447048375626420476290275624 other threads in here that literally said the EXACT SAME THING?
(And it didn't happen, after all, but honestly that is irrelevant to the point stated above.)
Another idiotic bubble post.
Congratulations OP, you are just as retarded as the others.
Agreed. Congratulations OP, you are just as retarded as the others.
I do not quite understand what these messages mean. They both seem to agree that I am retarded, but they fail to explain how the posters got to that conclusion.
Another idiotic bubble post.
Congratulations OP, you are just as retarded as the others.
Agreed. Congratulations OP, you are just as retarded as the others.
I do not quite understand what these messages mean. They both seem to agree that I am retarded, but they fail to explain how the posters got to that conclusion.
If you're not into day trading, there's a single rule to Bitcoins : thou shall not sell, ever, until BTC has reached full potential or is $0.
Everyone who does not adhere to this, is prey.
Everyone who does not adhere to this, is prey.
If it hits $0 you might as well keep your BTC as a souvernier ha.
I only wish I had money in an exchange so I could scoop up cheap coins.
Oh well, there will be a next time.
Oh well, there will be a next time.
If you're not into day trading, there's a single rule to Bitcoins : thou shall not sell, ever, until BTC has reached full potential or is $0.
Everyone who does not adhere to this, is prey.
Everyone who does not adhere to this, is prey.
I feel bad for all the people who sold (not those who got millions out of it).
You don't need to be here very long to realise that prices go up, prices go down, and the worst thing you can do is to buy or sell during a panic!
I think we all get burnt once - I know I did - but you soon learn, the price is going up until we run out of people who think it should cost any more!
I wouldn't be surprised if it hits $1000 by the end of the year - but when the rate goes up too quickly, its going to come back down again very quickly, until it reaches the growth rate it can cope with.
Nothing to see here!
I think we all get burnt once - I know I did - but you soon learn, the price is going up until we run out of people who think it should cost any more!
I wouldn't be surprised if it hits $1000 by the end of the year - but when the rate goes up too quickly, its going to come back down again very quickly, until it reaches the growth rate it can cope with.
Nothing to see here!
The most likely thing is that the market won't do what everyone thinks it will. I think it will be a correction, significant, but not 'back to single digits apocolypse'. Suspect we might see a slide back into the 100's, but I think any decline will be short lived as there are still an awful lot of people in the world that need to buy in, and the monetization of bitcoin is far from over.
The fundamentals point to a decline towards some $20. In fact, single digits would not really surprise me either.
I also think that the price decline will take more than 6 months, perhaps more than a year.
I agree that this will not kill bitcoin completely. It does damage to its reputation though.
OK, my first question is already being answered, the one about the first major bull trap. We are in it right now.
The price went a bit lower than donut's prediction:
Ultimately he was wrong, because he predicted a bottom above $115, but the price went somewhat lower. Still his prediction was pretty close to the truth so far.
Let's see whether he will be right with the $220 peak. That is not easy to predict. I tend to think that $220 is a bit on the high side as well, but we have seen bull traps that even slightly exceeded the preceding peak. We will know soon.
It is easy to predict that the price will generally decline for a long time now, i.e. months or even years. What we don't know is how low it will go. I foresee lowest prices around $20, but this depends on future circumstances and therefore evades any precise prediction. The lowest point could still be somewhat above $20, but it could also be a single-digit figure.
The price went a bit lower than donut's prediction:
I call the bottom at no lower than $115, and a rebound to $220 by tomorrow morning.
Ultimately he was wrong, because he predicted a bottom above $115, but the price went somewhat lower. Still his prediction was pretty close to the truth so far.
Let's see whether he will be right with the $220 peak. That is not easy to predict. I tend to think that $220 is a bit on the high side as well, but we have seen bull traps that even slightly exceeded the preceding peak. We will know soon.
It is easy to predict that the price will generally decline for a long time now, i.e. months or even years. What we don't know is how low it will go. I foresee lowest prices around $20, but this depends on future circumstances and therefore evades any precise prediction. The lowest point could still be somewhat above $20, but it could also be a single-digit figure.
Lol, OP must be new here, doesn't realize that there are 500 other threads exactly like this one spanning the last 2 years.
Every time a big correction happens the weak hands get shaken out, the "OMG BUBBLE JUST BURST, I TOLD YOU SO!" threads get started. Of course now, demand is much higher so rather than a many-month recovery (from the July 2011 peak) we'll get a week tops.
Thanks for the cheap coins, everyone! If anything, the fundamentals show that bitcoin is now resilient to crap like this and your wishful thinking of a 6-month recovery in the double digits is just jealousy of all the people who bought in earlier. Don't be jel-jel that this "huge" bubble bursting made a logarithmically tiny dent in my portfolio and your $262 coins got taken down a notch ;-D. Just take a deep breath and look at the dozens of other recent bear traps - don't do anything silly like eat your leg off to escape; those bears don't make it far.
If you think the "fundamentals" show bitcoin having a limp dick for the next 6 months because of Goxlag, you need to lurk moar.
Every time a big correction happens the weak hands get shaken out, the "OMG BUBBLE JUST BURST, I TOLD YOU SO!" threads get started. Of course now, demand is much higher so rather than a many-month recovery (from the July 2011 peak) we'll get a week tops.
Thanks for the cheap coins, everyone! If anything, the fundamentals show that bitcoin is now resilient to crap like this and your wishful thinking of a 6-month recovery in the double digits is just jealousy of all the people who bought in earlier. Don't be jel-jel that this "huge" bubble bursting made a logarithmically tiny dent in my portfolio and your $262 coins got taken down a notch ;-D. Just take a deep breath and look at the dozens of other recent bear traps - don't do anything silly like eat your leg off to escape; those bears don't make it far.
If you think the "fundamentals" show bitcoin having a limp dick for the next 6 months because of Goxlag, you need to lurk moar.
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