The re-accumulation period is in - page 4.

pereira4

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Quote from: The Sceptical Chymist on October 03, 2019, 08:45:55 AM

Quote from: pereira4 on October 02, 2019, 12:41:14 PM

1) General public has been demolished and demoralized. Everyone that is still hasn't realized altcoins are dead are about to.

Altcoins aren't dead, just taking a break like they've done many times in the past. If you think they're dead, you're missing a buying opportunity IMO.

Quote from: pereira4 on October 02, 2019, 12:41:14 PM

4) OTC options like Bakkt are ready for boomers and computer illiterates which want exposure to Bitcoin but have no resources to keep their own

Bakkt is for the big-money players if I'm not mistaken, not for the populations you described. I'm fairly computer illiterate but you don't need an extensive technical understanding to own bitcoin, just like you can drive a car without being a mechanic. In fact, this 4th point you brought up perplexes me a bit. A trader who doesn't have "resources to keep their own" bitcoin probably won't be using Bakkt at all.

Quote from: pereira4 on October 02, 2019, 12:41:14 PM

How much are you buying monthly?

Monthly? Not much. I'm more than happy to be just a bystander, watching the market swings without having a lot of bitcoin. But nor am I selling.

I do agree with the title of the thread, but I figured the re-accumulation phase was in effect when bitcoin was at or above $10k, so who knows.

You can participate in Maddof schemes for a number of times until you get burnt. This is the equivalent of "im buying the dip because altcoins are low, and altcoins always come back". Eventually, altcoins will not be comming back, and the tide will finally shift towards natural state of things (total BTC domination), then altcoin bagholders will have their last cry on reddit about how they became scammed by this and that token.

As far as Bakkt goes, noobs expected a massive instapump, and they got dumped on the news. Bakkt is about planning ahead, getting the infrastructure ready for when the moment comes. And when it comes to securing Bitcoin, you would be surprised how dumb and inexpert people in Wall Street are when it comes to computers, and im taking TOP money managers in elite trust funds. They don't have any idea in how to do the whole package of things that come with securing Bitcoin. It's an entirely different skill than being great with money.

The way I see it is that Bakkt is for money managers/brookers, to get clients and manage portfolios and put BTC exposure throught it. They can make a call and get everything done for them through Bakkt, they dont even need to do it themselves. It's part of the service.

1Referee

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Quote from: pereira4 on October 02, 2019, 12:41:14 PM

2) Huge updates coming for Bitcoin, start reading on this for instance: https://arxiv.org/abs/1905.10518

That's bullish for those who are genuinely interested in Bitcoin. I doubt most people here have a clue about what upgrades Bitcoin will undergo in the forthcoming years. Most people focus on 'when moon?' Anything beyond that is unknown territory and for that reason will avoid dabbling with it.

Quote from: pereira4 on October 02, 2019, 12:41:14 PM

How much are you buying monthly?

I'm more of a so called smart buyer. I follow the trend and utilize it to the best of my ability. I plan to accumulate somewhere between $7000-$7500 and increase each entry point the lower we go. I did the same during the crash from $6000 to $3000 last year. While people don't dare to touch Bitcoin, I am a happy satoshi stacker.

Quote from: mu_enrico on October 03, 2019, 03:16:08 PM

This discussion should be on Bitcoin Discussion bro, I don't see we are talking about economics here, just saying...

If you want this thread to turn into a spammers cesspool then definitely move this thread to Bitcoin discussion. Roll Eyes

mu_enrico

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This discussion should be on Bitcoin Discussion bro, I don't see we are talking about economics here, just saying...

Anyway,

1. Be careful since two data periods often not sufficient to produce a robust forecast result.
2. This $8K price level is not really tempting for accumulation.
3. If there is no bull-run, likely there will be no ATH, so keep our eyes for bull-run signals.

ichai

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I have a rather opposite view with you. Because the halving of Litecoin failed, it was in trouble now that the bear market came.
If this market continues to be bleak for a long time, I think there will be no more funding for bitcoin to get its price pumped.
I think the next halving event is a big trap for sharks. they will begin to pump slightly and wait until Bitcoin hits ATH, they will start selling Bitcoin.

fakefrombot

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So basis on your chart the next bull run will starts in 8-10 months approximately, right? And the target is up to 140,000$ per USD in 2021? Hope your chart is correct Roll Eyes

audaciousbeing

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Quote from: CryptoBry on October 02, 2019, 09:37:34 PM

I could not understand why many people who are into Bitcoin can easily be led to desperation whenever there is a dip in its price movement. All they have to do is to search Google to look for answers for the "predicament" that they think they are in. Bitcoin is not known to be very volatile for nothing and what we experienced in the past few days is just manifestation of this character and nothing to worry about. I am happy to see that some people made the effort of posting charts so as to tell us the truth that this is just a very temporary thing and that instead of looking at it negatively we might as well increase our Bitcoin exposure or holding. This is the time to accumulate more.

Sometimes when you see the way people look for answers, you realise that they themselves panic more than the price and the most ironic thing about it is that, they are neither heavy traders not heavy holders to conclude the reason for the panic is due to the enormous losses to be suffered by them. When the market begins to turn green, same people are the first to sound the alarm of how the moon is the next stopping point or the adoption is ready to overtake fiat among other frivolous reasons they could come up with.

It is a known fact that the volatility is a constant factor in crypto which would come at will irrespective of any significant thing happening in the outside world or crypto world. The market is still an emerging one which makes volatility inevitable at this time and when people understand that, there is no need to panic or start looking for answers that provides no solution.

dothebeats

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This usually happens when a direct blow to bitcoin's pricing is done-zo. We have seen it a lot of times, and would be for years to come.

Quote from: pereira4 on October 02, 2019, 12:41:14 PM

1) General public has been demolished and demoralized. Everyone that is still hasn't realized altcoins are dead are about to.

This has been said a lot of times even in 2016 when people thought that altcoins are dead, resurrected with the help of ICOs (short-lived, though), and IEOs, and down again. Anyone who thinks the altcoin market is done for is not really into it, or is just too biased with bitcoin that they're not seeing that there's still money to be made on that facet of the market.

Quote from: pereira4 on October 02, 2019, 12:41:14 PM

3) Halving comes at the right time

This might be a good thing to consider, given that halving is just a few months away in reality. Perhaps the price could take more beating and see its way down $7000 levels again before igniting and zooming upward when the pre-halving hype kicks in. At this point, I'd say coins in $8000 levels is still a good entry point in preparation for the halving.

Quote from: pereira4 on October 02, 2019, 12:41:14 PM

4) OTC options like Bakkt are ready for boomers and computer illiterates which want exposure to Bitcoin but have no resources to keep their own

..and for the ultra-rich that doesn't want the bullshit of your regular exchange where the peasants and regulars are.

Quote from: pereira4 on October 02, 2019, 12:41:14 PM

How much are you buying monthly?

I stopped buying last July 2019 and would like to be in the sidelines for a while. I think I'm okay with what I have right now, with no plans of selling in the immediate future--unless unforeseen circumstances force me to do so.

The Sceptical Chymist

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Quote from: pereira4 on October 02, 2019, 12:41:14 PM

1) General public has been demolished and demoralized. Everyone that is still hasn't realized altcoins are dead are about to.

Altcoins aren't dead, just taking a break like they've done many times in the past. If you think they're dead, you're missing a buying opportunity IMO.

Quote from: pereira4 on October 02, 2019, 12:41:14 PM

4) OTC options like Bakkt are ready for boomers and computer illiterates which want exposure to Bitcoin but have no resources to keep their own

Bakkt is for the big-money players if I'm not mistaken, not for the populations you described. I'm fairly computer illiterate but you don't need an extensive technical understanding to own bitcoin, just like you can drive a car without being a mechanic. In fact, this 4th point you brought up perplexes me a bit. A trader who doesn't have "resources to keep their own" bitcoin probably won't be using Bakkt at all.

Quote from: pereira4 on October 02, 2019, 12:41:14 PM

How much are you buying monthly?

Monthly? Not much. I'm more than happy to be just a bystander, watching the market swings without having a lot of bitcoin. But nor am I selling.

I do agree with the title of the thread, but I figured the re-accumulation phase was in effect when bitcoin was at or above $10k, so who knows.

Taskford

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Quote from: Experia on October 03, 2019, 07:24:18 AM

Quote from: AjithBtc on October 02, 2019, 09:19:52 PM

This can be considered the time to accumulate as much possible based on various reasons.

The price has been found low to $8500
More predictions stating the growth to happen anytime soon
Better than bitcoin, it is time for accumulation of altcoins
Altcoins were very low in value, and these days there is recovery
with most trusted altcoins
Halving happening by 2020, and a big update on ethereum network

The good reason to accumulate again is the halving by 2020 although people really need to wait for a long period of time but the wait will be worth it. There will be lots of predictions scattered everywhere that can divert our decisions. If people want to invest on alts just make sure that the team are active on developing the project and has a vision to it.

Not a fan of investing with altcoins this year or maybe in year 2020 but I'm thinking to buy some bitcoins by the end of quarter 4 since I think the halving effect will get a positive output and predictions and more consciousness will come to that year and more positive speculation will come when halving times comes around. But lets hope all listed on the 5 are great factors so that we can experience again the same 2017 halving effect on crypto ecosystem.

Experia

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Quote from: AjithBtc on October 02, 2019, 09:19:52 PM

This can be considered the time to accumulate as much possible based on various reasons.

The price has been found low to $8500
More predictions stating the growth to happen anytime soon
Better than bitcoin, it is time for accumulation of altcoins
Altcoins were very low in value, and these days there is recovery
with most trusted altcoins
Halving happening by 2020, and a big update on ethereum network

The good reason to accumulate again is the halving by 2020 although people really need to wait for a long period of time but the wait will be worth it. There will be lots of predictions scattered everywhere that can divert our decisions. If people want to invest on alts just make sure that the team are active on developing the project and has a vision to it.

alyssa85

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The question you need to ask yourself is "If you didn't already own bitcoin, would you buy at these levels?"

I think for most people the answer is No, especially as not much progress is being made in adoption as a currency (as opposed to a speculative asset).

If you look back to the 1990's and the adoption of the internet, there was huge progress being made on all fronts (dial-up changing to broadband, ISPs mushrooming at a reasonable price, security concerns addressed, increase in retailers selling online etc).

That's not happening in the crypto space. Security at the exchanges is still poor. The architecture of bitcoin is still slow (and the backlogs get unbearable at peak times). There isn't an increase in retailers accepting bitcoin or crypto currency.

The hard work in building an eco-system has ground to a halt.

jmigdlc99

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Quote from: pereira4 on October 02, 2019, 12:41:14 PM

The chart aligns with a perfect timing for:

1) General public has been demolished and demoralized. Everyone that is still hasn't realized altcoins are dead are about to.
2) Huge updates coming for Bitcoin, start reading on this for instance: https://arxiv.org/abs/1905.10518
3) Halving comes at the right time
4) OTC options like Bakkt are ready for boomers and computer illiterates which want exposure to Bitcoin but have no resources to keep their own

How much are you buying monthly?

Excellent chart, you're on to something here!

Looks ripe for the hype (lol). It's simple and enumerated things like these that the general masses take in really well. With such a clear chart showing a potential increase in bitcoin value, who can argue? I'm personally inclined to put in $100 per month from now on.

styca

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I'm glad the OP has posted a chart that is both long-term and has a logarthmic scale. This is exactly what we should be looking at to determine future trends. Crypto growth has exponential cycles, and this means that on a linear chart most of past activity is reduced to a flat line with minor perturbations, you can't see the past upwards and downwards trends very well at all. Log scale however changes all that, and really highlights exactly what it was like at the time.

I agree with the OP, and am happy that someone has finally posted a log scale chart

NathanJB

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Quote from: pereira4 on October 02, 2019, 12:41:14 PM

The chart aligns with a perfect timing for:

1) General public has been demolished and demoralized. Everyone that is still hasn't realized altcoins are dead are about to.
2) Huge updates coming for Bitcoin, start reading on this for instance: https://arxiv.org/abs/1905.10518
3) Halving comes at the right time
4) OTC options like Bakkt are ready for boomers and computer illiterates which want exposure to Bitcoin but have no resources to keep their own

How much are you buying monthly?

1. Altcoins do not have to die for Bitcoin to begin a movement with an upward direction. On the other hand, shitcoins are dying regardless of the overall condition of the market.
2. Halving is going to take place next year. The hype around it as well as that which is built around the Bakkt launching were already present when the massive price drop happened several days ago.
3. I therefore conclude that the possibilities of where the next line goes are varied and uncertain as always.

AniviaBtc

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Quote from: pereira4 on October 02, 2019, 12:41:14 PM

4) OTC options like Bakkt are ready for boomers and computer illiterates which want exposure to Bitcoin but have no resources to keep their own

How much are you buying monthly?

Many criticize Bakkt for its ability and failure, they are lack of resources to access global market. It is not that popular so maybe it is developing itself. Bakkt needs to work hard to prepare for sudden growth.

And for the amount I buy it varies dependent from time and if it's necessary. I have to budget some money because there are expenses i need to pay for my family. So it depends on the circumstances i'm in.

CryptoBry

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I could not understand why many people who are into Bitcoin can easily be led to desperation whenever there is a dip in its price movement. All they have to do is to search Google to look for answers for the "predicament" that they think they are in. Bitcoin is not known to be very volatile for nothing and what we experienced in the past few days is just manifestation of this character and nothing to worry about. I am happy to see that some people made the effort of posting charts so as to tell us the truth that this is just a very temporary thing and that instead of looking at it negatively we might as well increase our Bitcoin exposure or holding. This is the time to accumulate more.

AjithBtc

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This can be considered the time to accumulate as much possible based on various reasons.

The price has been found low to $8500
More predictions stating the growth to happen anytime soon
Better than bitcoin, it is time for accumulation of altcoins
Altcoins were very low in value, and these days there is recovery
with most trusted altcoins
Halving happening by 2020, and a big update on ethereum network

sunsilk

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I've seen that chart before on FB and no doubt that we're seeing the same pattern. And as for the Bakkt's, I still see a lot of people who were negative to it because all they see was the recent impact of it which isn't good for most. It's just getting started and what's more, if the halving is nearer.

Quote from: pereira4 on October 02, 2019, 12:41:14 PM

How much are you buying monthly?

The amount that I buy changes from time to time and really depends on how much I have. The amount varies from $50-$300 and sometimes more than that depending on my situation because I shoulder most of our household expenses. How about you?

pereira4

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The chart aligns with a perfect timing for:

1) General public has been demolished and demoralized. Everyone that is still hasn't realized altcoins are dead are about to.
2) Huge updates coming for Bitcoin, start reading on this for instance: https://arxiv.org/abs/1905.10518
3) Halving comes at the right time
4) OTC options like Bakkt are ready for boomers and computer illiterates which want exposure to Bitcoin but have no resources to keep their own

How much are you buying monthly?

Topic: The re-accumulation period is in - page 4. (Read 654 times)