The reason why bitcoin will never *stay* below 5000$ again. PROVE ME WRONG - page 7.

gantez

full member

Activity: 1736

Merit: 121

Quote from: aoluain on August 06, 2018, 03:24:40 PM

Quote from: EVOS on August 06, 2018, 12:09:51 PM

Quote

I think what we witnessed in last december will happen again and at a greater extent. Don't ask me when, but that's a given.

what makes you very confident that bitcoin will be able to come back as well as December 2017?
I want to know your analysis and the evidence from the analysis that you found

What makes you think it wont?
If and when ETF is approved there will be a lot of new 'investors' those people
looking for a long term pension fund, the ones looking to create a portfolio and
Part of that will be Bitcoin.
There will be those who will remember 2017 and will not want to miss out.

I also believe that ETF is one thing that will grow the market. The market might not be looking sunny but a sweep of positive news of ETF will do good and you see the market raining with green colours. Grin

ninobtcx

sr. member

Activity: 418

Merit: 262

Quote from: shield132 on August 06, 2018, 06:16:02 PM

The only reason of not dropping price below 5000 usd is that mining won't be profitable.

That's not the "only" reason, but a very strong one. The reason #1 is the one I posted.

shield132

hero member

Activity: 2352

Merit: 905

Metawin.com - Truly the best casino ever

I have different opinion. Don't call me crazy but to my mind Bitmain is the company which plays huge role in it too. The only reason of not dropping price below 5000 usd is that mining won't be profitable. Now imagine Bitfury and other companies, they all want profit.
So major thing is mining + people's psichology is only looking for rise, not for fall, if 600 usd was normal last summer, now it will be shock.

ninobtcx

sr. member

Activity: 418

Merit: 262

Quote from: gentlemand on August 06, 2018, 02:55:41 PM

There's a flip side to that.

Deep pockets look years and years into the future. The average bot or kiddie on an exchange fills their nappy with piss and screeches eternal death if there's a ten minute move against them.

The truly rich won't give the slightest shit about short term moves. They'll be happy to let it do what it wants to do. If it went below that it's a nice buy for them but many will be loaded up already and it'll be overwhelmingly OTC.

Correct. Whales don't think like sardines.

aoluain

legendary

Activity: 2436

Merit: 1362

Quote from: EVOS on August 06, 2018, 12:09:51 PM

Quote

I think what we witnessed in last december will happen again and at a greater extent. Don't ask me when, but that's a given.

what makes you very confident that bitcoin will be able to come back as well as December 2017?
I want to know your analysis and the evidence from the analysis that you found

What makes you think it wont?
If and when ETF is approved there will be a lot of new 'investors' those people
looking for a long term pension fund, the ones looking to create a portfolio and
Part of that will be Bitcoin.
There will be those who will remember 2017 and will not want to miss out.

gentlemand

legendary

Activity: 2590

Merit: 3015

Welt Am Draht

There's a flip side to that.

Deep pockets look years and years into the future. The average bot or kiddie on an exchange fills their nappy with piss and screeches eternal death if there's a ten minute move against them.

The truly rich won't give the slightest shit about short term moves. They'll be happy to let it do what it wants to do. If it went below that it's a nice buy for them but many will be loaded up already and it'll be overwhelmingly OTC.

ninobtcx

sr. member

Activity: 418

Merit: 262

Quote from: NeuroticFish on August 06, 2018, 08:52:57 AM

Quote from: ninobtcx on August 06, 2018, 06:12:35 AM

Price won't give a fuck on whether it can be used everyday to buy stuff. Its purpose it for wealthy billionaires to keep part of their wealth inaccessible through offline wallets.

Yes and no. There are and always be both sides of the (Bit)coin: coin for use and "digital gold". Without it's every day use people will get to the point they can't redeem their "digital gold".
Also, I was also thinking that wealthy people will hide big amounts of money into cold storage and "hodl". But nowadays somebody is selling. Yes, it may be the rich guys that bought one year ago, but they sell instead of buying?! I mean, since the corrections we had this year, they should buying again.

So I think that there may be something wrong in this logic: it doesn't cover the whole truth (and yes, I know, there could be some market manipulation exactly because they're buying and they try to keep the price low while doing that). Still, something seems to be missing...

They sell eventually - yeah - but they don't flip. They sell with the same pace they would sell their physical gold reserves. Which is not frequently.

Market cap of gold is over 30 times market cap of bitcoin; if gold drops those big hands have to suck it up.
But if bitcoin drops and stay below 5000$, those big hands are easily able to pull the price up by buying the market of the bitcoin available.

ninobtcx

sr. member

Activity: 418

Merit: 262

Quote from: EVOS on August 06, 2018, 12:09:51 PM

Quote

I think what we witnessed in last december will happen again and at a greater extent. Don't ask me when, but that's a given.

what makes you very confident that bitcoin will be able to come back as well as December 2017?
I want to know your analysis and the evidence from the analysis that you found

I just explained that?

EVOS

newbie

Activity: 141

Merit: 0

Quote

I think what we witnessed in last december will happen again and at a greater extent. Don't ask me when, but that's a given.

what makes you very confident that bitcoin will be able to come back as well as December 2017?
I want to know your analysis and the evidence from the analysis that you found

NeuroticFish

legendary

Activity: 3668

Merit: 6382

Looking for campaign manager? Contact icopress!

Quote from: ninobtcx on August 06, 2018, 06:12:35 AM

Price won't give a fuck on whether it can be used everyday to buy stuff. Its purpose it for wealthy billionaires to keep part of their wealth inaccessible through offline wallets.

Yes and no. There are and always be both sides of the (Bit)coin: coin for use and "digital gold". Without it's every day use people will get to the point they can't redeem their "digital gold".
Also, I was also thinking that wealthy people will hide big amounts of money into cold storage and "hodl". But nowadays somebody is selling. Yes, it may be the rich guys that bought one year ago, but they sell instead of buying?! I mean, since the corrections we had this year, they should buying again.

So I think that there may be something wrong in this logic: it doesn't cover the whole truth (and yes, I know, there could be some market manipulation exactly because they're buying and they try to keep the price low while doing that). Still, something seems to be missing...

ninobtcx

sr. member

Activity: 418

Merit: 262

Current Market cap is 120b $ (actually real market cap much lower than that due to lost btc and so on); that could be 1000 people with 120m$ hidden. Anyone who has approximately that amount of btc would be very able to buy the market would it temporarily drop significantly below 5000$ per btc, due to the very limited (and shrinking) actual supply of bitcoin and availability in the exchanges.

I think what we witnessed in last december will happen again and at a greater extent. Don't ask me when, but that's a given.

Bitcoin has been chosen.
Why? Possibly positioning.

Price won't give a fuck on whether it can be used everyday to buy stuff. Its purpose it for wealthy billionaires to keep part of their wealth inaccessible through offline wallets.
Whether tx take 1 hours to go and cost 10 bucks each.
Whether the nodes get a little bit more or a little bit less centralized.

All that matters is the one reason I stated above.
Everything else is just smoke for sardines.

Topic: The reason why bitcoin will never *stay* below 5000$ again. PROVE ME WRONG - page 7. (Read 2504 times)

Topic: The reason why bitcoin will never stay below 5000$ again. PROVE ME WRONG - page 7. (Read 2504 times)