There is no ceiling or floor | Bitcointalksearch.org

smyslov

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Quote from: RapTarX on September 05, 2020, 12:01:00 PM

I see a lot of guys complaining bitcoin will never reach to ATH, it will go below $2k bla bla bla. Well, this is a message to all the newbie investors.
In a centralized system, govt can control price of a product. For instance; if price of product X increases significantly which goes beyond the hand of normal people, govt may set a price ceiling to control the price. On the other hand, if price of product X goes too low, govt can set support or price floor on a certain level.
But, in a decentralized system like Bitcoin, no one can control the price. Well, whale can manipulate but they can never ensure ceiling or floor. You should invest in BTC after learning this two point. In theory, it may hit $50k as it's a scarce commodity or even to $1000 as no one would be here thinking of having a support for the supplier aka miners.

I agree this is an open market and no experts can predict the ceiling or the floor they can just speculate on the price, when it comes to buying and selling it is to each it's own, you can buy and sell at whatever amount you amount, dumps and surge happens because of what I consider as connivance or mass action of traders to buy or sell, but no one can control the market at all times.

CryptocurencyKing

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Who would have believed Bitcoin would rise to where it is now and in this period at that. The increase in awareness of Bitcoin and the increase in volatility experienced by crypto platforms, you'll sure to wait for more surprises.
Having no control over the activities of Bitcoin and other Altcoins has always been the issue of government with cryptocurrencies and somehow, it is a limiting factor to cryptocurrency. But then, we the absence of these ceilings and floors is what defines cryptos to a large extent and makes it remains untouchable which is the very thing that the government hates.

Xembin

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Bitcoin is a decentralized price which no government can control in the time of surplus or hardship, ceilling or floor is a thing that can change at anytime in the market.
Centralized price is be control by the government. Government has the power to floor everywhere with low price to purchase any commodity of your choice, also government can decide floor the market with high price of commodity.

Latviand

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Quote from: btc_angela on September 05, 2020, 06:16:59 PM

Yes, everything is possible, but the problem with newbie is that they think that bitcoin is a "get rich quick scheme", and this thread is a good start for newbies to understand that it is not, although there is that possibility that it can reach as high as $50k or decline to $1k. And there's no such thing as a continuing rising curve, bitcoin is a speculative asset so there could be a time that the price will decline or increase massively, but no parabolic rise.

They really defy patience, they are greedy and they think that bitcoin is an instant money.

Which really makes them become disappointed to it that's why they are doing it the wrong way. Patience is what we need because bitcoin doesn't work like what they think, it is not an easy money. You need effort and mindset so that you can make your investment to it much better and worth it. Nothing is impossible if you are determined and wise in making decisions that will help you grow your investment.

In the sudden increase in bitcoin last month, no one is expecting that but it happen so just become always updated in the market and be optimistic.

pooya87

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Quote from: noormcs5 on September 06, 2020, 03:41:40 AM

Your theory is 100% right but currently whales are holding major portion of the bitcoins and hence they are able to manipulate it.

the crazy fluctuations are not so much about the whale manipulations but mostly about the panic moves that come after it. for example a quick look at the charts of the day that price dropped all of a sudden shows this panic sell as clear as day. the drop starts and then a lot of traders start selling out of fear specially when a simple but arbitrary resistance is broken hence causing bigger drop and that brings more panic sellers in increasing the depth of the drop.

NavI_027

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Quote from: GreatArkansas on September 05, 2020, 09:35:15 PM

But Bitcoin is still here. We really can't force some people to believe on something they don't want to believe or even to understand.

Yup we can't please everyone to invest with bitcoin. Some hate it, some believe it was a scam and some are simply can't grasp the complexity of this technology — that's the hard reality. What I can say is congrats to believers and god bless for the haters. I hope they soon realize what they're missing.

Be like this kid, I admire him for having a business mind. He believe and see the potential of bitcoin despite of his young age. Though he's a little bit aggressive but I guess that's normal for a teenager Cheesy

.

jossiel

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Quote from: cryptoaddictchie on September 05, 2020, 08:51:49 PM

Quote from: jossiel on September 05, 2020, 05:49:06 PM

We tend to think that bitcoin finally hit the floor because it's part of our speculation. And we also thought that $12k was the peak or ceiling because it was the highest. But you are right with those words, it can hit more than the speculated ceiling price or can dip more than the floor price that we had.

Thats the thing about speculation. No ties up with the actual reality. Prediction always lead to uncertainty result. If newbies are easily get encourage by a lot of shillers then thats the weakness they had. I myself involved in some fomo and telling everyone that its not good. Ive even loss money like 1k 2k even 4k in the process. Yeah Im a real gambler into crypto but thats how we can succeed if we risk something. Unfortunately its not always Christmas day so better yet to do due diligence prior to making unncessary investment especially in crypto since its volatility has no bound.

Those losses you've made in the past are being applied today in yourself and it's the lesson that you've learned.

Me as well, I've learned the hard way with losses but that's fine as I've learned knowing which price is good to buy and when I should actually sell at the right price.

Just like this time, we can say that the floor price was met and that was $9,900+.

Assface16678

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Well there is no really impossible with the bitcoin and the at the same time your prediction is not quite impossible because the market price of the bitcoin is volatile

Still, there is a chance even the bitcoin is decentralized and this is the whales those are the large investors on the world of bitcoin they can really manipulate to the market movement if they pull out a large investment as we experience right now which is

From the marker price of 12k mark now it's already falling down onto 10k and rapidly going down again.

Also in terms of investment if they buy a lot of coins there is a chance for another increase.

noormcs5

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Quote from: RapTarX on September 05, 2020, 12:01:00 PM

I see a lot of guys complaining bitcoin will never reach to ATH, it will go below $2k bla bla bla. Well, this is a message to all the newbie investors.
In a centralized system, govt can control price of a product. For instance; if price of product X increases significantly which goes beyond the hand of normal people, govt may set a price ceiling to control the price. On the other hand, if price of product X goes too low, govt can set support or price floor on a certain level.
But, in a decentralized system like Bitcoin, no one can control the price. Well, whale can manipulate but they can never ensure ceiling or floor. You should invest in BTC after learning this two point. In theory, it may hit $50k as it's a scarce commodity or even to $1000 as no one would be here thinking of having a support for the supplier aka miners.

Your theory is 100% right but currently whales are holding major portion of the bitcoins and hence they are able to manipulate it. There is no government who can control the top/bottom for bitcoin but whales indirectly are acting as a government to control the prices for their own interest. That's why bitcoin adaption is more important than the price. When bitcoin will be spread among many/all the people, whales will have no control over it.

GreatArkansas

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For my basic understanding: "What goes up, goes down, what goes down, goes up".
It's something like that. A lot of people really underestimated Bitcoin, especially when Bitcoin is still young before, around 3 digits price.
As time goes by, multiple huge dumps and losses before and a lot of huge pumps too. But Bitcoin is still here. We really can't force some people to believe on something they don't want to believe or even to understand.

hd49728

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Ceilings or floors are only temporary. It is as same as for supports or resistances, they flip each other. Today resistance can be a support some days later and support today can be a resistance some days later.

Fortunately, if you are wisely trade, you can see price tend to test a few time at strong resistances or supports and you can buy then sell higher or sell then buy lower to increase number of BTC, USDT or coin in your portfolio.

No ceilings or floors can be existed forever. If the project is actively developed and adoption for that project is increasing, price will rise and ceiling will be lifted up together.
In an opposite case, when a project is inactively developed and its adoption is fallling, floor will become lower and lower, maybe till the day it hits zero value and zero volume. I don't mention wash trading volume.

cryptoaddictchie

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Quote from: jossiel on September 05, 2020, 05:49:06 PM

We tend to think that bitcoin finally hit the floor because it's part of our speculation. And we also thought that $12k was the peak or ceiling because it was the highest. But you are right with those words, it can hit more than the speculated ceiling price or can dip more than the floor price that we had.

Thats the thing about speculation. No ties up with the actual reality. Prediction always lead to uncertainty result. If newbies are easily get encourage by a lot of shillers then thats the weakness they had. I myself involved in some fomo and telling everyone that its not good. Ive even loss money like 1k 2k even 4k in the process. Yeah Im a real gambler into crypto but thats how we can succeed if we risk something. Unfortunately its not always Christmas day so better yet to do due diligence prior to making unncessary investment especially in crypto since its volatility has no bound.

Wexnident

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Well, it is a speculation, and I'm pretty sure that people complaining about the floor is around the minority. I suppose most are actually discussing mostly about what price it could possibly be around the end of the year and when does the effects of halving happen in the market. Those speculations that are obviously way too high or way too low are just pretty much people spouting random numbers that are clearly far from the normal speculations that people have.

Besides, setting a ceiling or floor for daily trading seems quite useful, it's basically like buying in dips and selling at rallies kind of strategy.

sheenshane

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I like the term you've used, the ceiling and the floor, just like heaven and earth and yeah, there's no such thing.

But IMO, that's a part of speculation and we're both having different perceptions on it. Every prediction there's in negative and positive sides which are others in neutral prediction. As a crypto enthusiast, we believed that there's a new ATH and we are very optimistic when it comes to crypto prediction. The most anticipated events are those moments of a bullish trend.

If I saw a post like this and I feel that irrelevant to the realistic, much better if you will hit the report button to the moderator. This isn't good in the eyes of crypto enthusiasts.

Botnake

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There is if we are playing with the volatility.

Just my own perception though as the working strategy is to buy when the price is at floor and sell when it's on the ceiling.

But for those who aren't looking for the volatility, instead they look at the success of bitcoin, then they should be aware that there's no way the price is moving one way^^^ If they will not change that mentality, they will only lose in the long run as whether we like it or not, bitcoin will pump and dump at any situation we are not expecting to see, therefore we should get used to its volatility and that would make us being realistic making us to effectively manage the risk.

btc_angela

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Yes, everything is possible, but the problem with newbie is that they think that bitcoin is a "get rich quick scheme", and this thread is a good start for newbies to understand that it is not, although there is that possibility that it can reach as high as $50k or decline to $1k. And there's no such thing as a continuing rising curve, bitcoin is a speculative asset so there could be a time that the price will decline or increase massively, but no parabolic rise.

jossiel

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IMHO. Floor or ceiling prices are also part of speculation.

We tend to think that bitcoin finally hit the floor because it's part of our speculation. And we also thought that $12k was the peak or ceiling because it was the highest. But you are right with those words, it can hit more than the speculated ceiling price or can dip more than the floor price that we had.

JeromeTash

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Quote from: AB de Royse777 on September 05, 2020, 12:18:44 PM

I think the $50k value is very practical considering where we are now from where we were before. Right now bears are trying hard but bulls are stronger. $BTC has a huge resistance from $12,500 to $13,800. Once the market will settle above that range then we will see a new ATH in no time.

$50K is very achievable for BTC. I recently saw how some DeFi token (i think it called Yearn Finance token) smashed past $30K towards $40K in a matter of days before correcting to the region of $20K currently.

If less known tokens that were just born out if the DeFi hype can do it, then why not bitcoin?

Newbies should know when to buy bitcoin (buying the dips) to avoid disappointment of buying when the price is already up and is about to correct.

RapTarX

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Quote from: AB de Royse777 on September 05, 2020, 12:18:44 PM

Quote from: RapTarX on September 05, 2020, 12:01:00 PM

In theory, it may hit $50k as it's a scarce commodity or even to $1000 as no one would be here thinking of having a support for the supplier aka miners.

Well in your theory you just limited it with an imaginary ceiling and floor value. $50k and $1k.

I said it may hit. Well, I should have said $50k or above & $1k or even lower. Nevertheless, the message to newbies is to think what can happen before they invest.

Quote from: Dragonfund on September 05, 2020, 12:42:24 PM

I believe you saw how yearn finance broke $30k because of demand and supply.

What the freaking heck is yearn finance? I guess this is the first time I engaged with this.
Jeez, 30k supply and you know the answer. It's quite easy to manipulate. Otherwise, as per coingecko from $31, it's unlikely to reach $38k within a month.

BIT-BENDER

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I think when we make something like this -post/thread/article- we go further to warn -newbies- . To an average/low cryptocurrency individual, this post is attractive -especially the centralized and decentralized- some newbies can now unthoughtfully go into any the see -crypto-decentralized- and some may fall to scam/Ponzi,

To newbies -something being -or claims- to be decentralized is not a sure/guarantee banker/safe. There are much you are to learn/find out for yourself.

Topic: There is no ceiling or floor (Read 322 times)