Too Many Gloom & Doomers! - page 2. | Bitcointalksearch.org

exstasie

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Quote from: pooya87 on January 02, 2018, 12:53:33 AM

Quote from: exstasie on January 01, 2018, 07:24:09 PM

Quote from: pooya87 on January 01, 2018, 09:41:07 AM

"sideways for months". i doubt that can ever happen with bitcoin!

That's strange, because it's happened many times in Bitcoin's history. Just pull up any weekly chart. In fact, Bitcoin tends to consolidate for much longer periods of time now than back in 2013-2014, when I started trading. The market used to feel much more emotional and volatile back then.

Masterluc recently said a couple months of sideways was one of the likely scenarios after the drop to the $10,000s.

to be fair the 2013 onward drops was a special thing because of all the sudden big changes in the bitcoin world. mainly the Mt Gox fake pump in only 1 month from $200 to $1200 and then scamming people and running away. all that silkroad crap, the end of GPU mining,...

and it was not "sideways" it was dropping! its a big difference.

I wasn't talking about the entire downtrend from $1200. That was a downtrend on monthly time frame. Again, pull up any weekly chart. During the downtrend, there were several periods of sideways consolidation (corrections) that lasted for months before the drop continued. Nearly the entire year of 2015 was spent in a range. So was the period of December 2015 to May 2016. Tight sideways action for months and months.

Also, I don't buy that logic. Silk Road happened before the November 2013 bubble. ASICs took over well before that. Gox went down months after the market had already crashed and entered a bear market. These are just empty rationalizations of why a bear market shouldn't have happened. Correction and bear market cycles will always occur; they are cyclical. It doesn't matter what excuses anyone makes for them. The fact that so many people now think this way suggests to me that another long term bear market like 2014 is coming. The question is, how high will we go first?

cybersofts

copper member

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Quote from: HabBear on December 31, 2017, 10:21:34 AM

Quote from: Anti-Cen on December 31, 2017, 10:08:46 AM

Fees have killed it and unless the developers deal the the mining monopoly then
the "Gloom & Doomers" are well founded and now could well be a good time
to place a stop-loss unless you like walking home instead of taking a taxi

Too many gambling addicts here if you ask me

Haha, welcome to the party.

A stop loss would have been appropriate two weeks ago. We've fallen 40% or so off the high...the loss has already passed you!

This isn't new for Bitcoin, we've seen 80% crashes before. Everyone in the media has been expecting "the bubble to pop" and it has now that the price has gone from nearly $20k to $12-13k. So, what's the surprise? Bitcoin will sit at this level while we all wait to see how the Lightning Network implementation pans out.

So let's hope for the Lightning Network to work because without an update to speed up the bitcoin transaction speed and lower the transaction fee, the bitcoiners are going to be sitting ducks because in time everyone will be leaving bitcoin by calling it an outdated coin.

J. Cooper

full member

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Alea iacta est

Quote from: btcone111 on January 01, 2018, 06:06:09 PM

Quote from: J. Cooper on January 01, 2018, 01:48:18 PM

I think I would be a lot more worried if the price kept skyrocketing like it has been doing the last couple of months of 2017. If I look at the weekly charts all I can see is a very healthy correction that's going to end somewhere in the near future. If you really believe bitcoin can just keep going without a pullback you should question what you're doing here. And I also think this has nothing to do with fees and confirmation times either

Indeed I was so glad bitcoin paused for a bit and at least had some correction and took a break from the exponential rise.
Seriously I think there are too many people on this board who just wants to see btc goes up up up up up faster faster faster - so that they could be billionaire by the end of 2018.
It just doesn't work like this!

People who are just getting in to this are so extremely used to seeing bitcoin hitting new all time highs practically every single week. But it can't always be like that, that just won't be sustainable at all. Looking at the weekly bitcoin charts we can see that currently we've hit our 3rd consecutive red candle (hasn't happened since the China crash). So I feel like we're preparing for a very big leg up very soon.

nidacoinlove

sr. member

Activity: 588

Merit: 254

Quote from: pooya87 on January 02, 2018, 12:53:33 AM

Quote from: exstasie on January 01, 2018, 07:24:09 PM

Quote from: pooya87 on January 01, 2018, 09:41:07 AM

"sideways for months". i doubt that can ever happen with bitcoin!

That's strange, because it's happened many times in Bitcoin's history. Just pull up any weekly chart. In fact, Bitcoin tends to consolidate for much longer periods of time now than back in 2013-2014, when I started trading. The market used to feel much more emotional and volatile back then.

Masterluc recently said a couple months of sideways was one of the likely scenarios after the drop to the $10,000s.

to be fair the 2013 onward drops was a special thing because of all the sudden big changes in the bitcoin world. mainly the Mt Gox fake pump in only 1 month from $200 to $1200 and then scamming people and running away. all that silkroad crap, the end of GPU mining,...

and it was not "sideways" it was dropping! its a big difference.

Unfortunately we don't realize the difference between events, we only look at the price and then just throw something which could really misguide especially the new members of the group. Right now bitcoin price has dropped due to the money taken from it and invested in the alts. There is no such other reason for the bitcoin price drop which started from a correction and is now struggling to go up, this may take a little longer but it doesn't mean that bitcoin has lost it's position in the crypto world. It will recover taking price above the moon.

Harlot

hero member

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A pretty good chart analysis you provided to us. From what I am seeing Bitcoin has also succeeded on creating a head and shoulder formation which is a good formation signifying a reversal in the current trend. Using the basic Moving Averages as well you will see that it is still intact to its supports and we may now not worry that it will go down below 10,000$ level right now. With regards to people panicking on Bitcoin's price movement you will see that it is their own fault for their own lack of preparation and education about studying charts.

pooya87

legendary

Activity: 3472

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Quote from: exstasie on January 01, 2018, 07:24:09 PM

Quote from: pooya87 on January 01, 2018, 09:41:07 AM

"sideways for months". i doubt that can ever happen with bitcoin!

That's strange, because it's happened many times in Bitcoin's history. Just pull up any weekly chart. In fact, Bitcoin tends to consolidate for much longer periods of time now than back in 2013-2014, when I started trading. The market used to feel much more emotional and volatile back then.

Masterluc recently said a couple months of sideways was one of the likely scenarios after the drop to the $10,000s.

to be fair the 2013 onward drops was a special thing because of all the sudden big changes in the bitcoin world. mainly the Mt Gox fake pump in only 1 month from $200 to $1200 and then scamming people and running away. all that silkroad crap, the end of GPU mining,...

and it was not "sideways" it was dropping! its a big difference.

TERA2

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Deb Rah Von Doom

5 years of sideways between 5k and 10k

exstasie

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Quote from: pooya87 on January 01, 2018, 09:41:07 AM

"sideways for months". i doubt that can ever happen with bitcoin!

That's strange, because it's happened many times in Bitcoin's history. Just pull up any weekly chart. In fact, Bitcoin tends to consolidate for much longer periods of time now than back in 2013-2014, when I started trading. The market used to feel much more emotional and volatile back then.

Masterluc recently said a couple months of sideways was one of the likely scenarios after the drop to the $10,000s.

richardsNY

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Quote from: NeuroticFish on January 01, 2018, 12:59:58 PM

Of course, the latest correction also helps. And as the others said, losing one month of growth (actually less than that) is not the end of the world.

It's completely meaningless. People for once need to understand that if a market can increase a lot in quite a short period of time, that it can also go down quite a lot in a short period of time. In this case, the correction that we experienced was a much needed one, especially because of how unhealthy the market became. I also like how it instantly tamed all those $30-$40k before the end of this year believers. If people think it's worth going nuts for, or idiots spreading fud think their nonsense can get the price to tank deeper, let them do so. This market doesn't care about these clowns at all, and never will. Look at kwukduck for example, he started with spreading fud even when the price was below $500!!

DPoS2

member

Activity: 189

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sometimes when an asset goes nuts near the end of the year, people who pay their taxes would wait until new year to sell so they don't have to pay that gain for a full year... so people game theory that and then lots of folks that aren't in that tax situation will frontrun and sell before the planned dump.. now anyone that was trying to wait till Jan to dump and play nice with their taxman just got screwed out of a lot of gain and will probably just hold now..

at least that is one small part of the wild forces that push and pull crypto around

btcone111

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Quote from: J. Cooper on January 01, 2018, 01:48:18 PM

I think I would be a lot more worried if the price kept skyrocketing like it has been doing the last couple of months of 2017. If I look at the weekly charts all I can see is a very healthy correction that's going to end somewhere in the near future. If you really believe bitcoin can just keep going without a pullback you should question what you're doing here. And I also think this has nothing to do with fees and confirmation times either

Indeed I was so glad bitcoin paused for a bit and at least had some correction and took a break from the exponential rise.
Seriously I think there are too many people on this board who just wants to see btc goes up up up up up faster faster faster - so that they could be billionaire by the end of 2018.
It just doesn't work like this!

J. Cooper

full member

Activity: 294

Merit: 125

Alea iacta est

I think I would be a lot more worried if the price kept skyrocketing like it has been doing the last couple of months of 2017. If I look at the weekly charts all I can see is a very healthy correction that's going to end somewhere in the near future. If you really believe bitcoin can just keep going without a pullback you should question what you're doing here. And I also think this has nothing to do with fees and confirmation times either

NeuroticFish

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Looking for campaign manager? Contact icopress!

Quote from: Pursuer on December 31, 2017, 09:58:51 AM

believe it or not all of this drama is because bitcoin stopped rising!

I don't believe this. I think that it's the opposite: since the last ATH a lot of paid posters or just newly created accounts post FUD relentlessly.
Somebody with large pockets wants the price as low as possible for something big.

Of course, the latest correction also helps. And as the others said, losing one month of growth (actually less than that) is not the end of the world.

HeRetiK

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Quote from: pooya87 on January 01, 2018, 09:41:07 AM

Quote from: Denker on January 01, 2018, 05:53:47 AM

Quote from: Pursuer on December 31, 2017, 09:58:51 AM

believe it or not all of this drama is because bitcoin stopped rising!
most people are expecting bitcoin to be rising constantly without even having a correction, let alone some bigger drop and some downtime even if it were at a stable price during an accumulation phase.

thanks for sharing this. at least you had some analysis behind what said... I liked the tutorial links too.

Bitcoin just going sideways for months is a total nightmare for so many noobs and will make them lose hope, giving up.
Not having the patience and unable to grasp the bigger picture of what Bitcoin really is about makes them sell their stash.
This is the advantage of us who are in this space for a few years and where not that much distracted by shitcoins, endless hardforks, and ICOs.
We had the time to study Bitcoin and know how it feels to go through bear phases or just long consolidation periods.

"sideways for months". i doubt that can ever happen with bitcoin!
the ATH was less than 20 days ago and the rise officially stopped in less than 10 days ago! and this sideways movement has only lasted for this 10 days which happens to also be the end of the year, aka holidays Tongue

besides, who cares about people who "lose hope" just because price is not rising. i would very much prefer them to lose their hopes faster and leave the market so we can have a calmer market without their irrational moves.

Amen to that. Reading through some of the recent posts one would assume that we are already in the midst of a new crypto winter.

As if Bitcoin is dying just because it stopped growing for a few days. As if Bitcoin has failed just because it's running at capacity right now.

Anyone who believes that Bitcoin's main value proposition lies in ever-rising prices deserves to get shaken off by the market.

iamTom123

hero member

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Quote from: Pursuer on December 31, 2017, 09:58:51 AM

believe it or not all of this drama is because bitcoin stopped rising!
most people are expecting bitcoin to be rising constantly without even having a correction, let alone some bigger drop and some downtime even if it were at a stable price during an accumulation phase. thanks for sharing this. at least you had some analysis behind what said... I liked the tutorial links too.

There was the time when Bitcoin holders were thinking they will be so happy if Bitcoin can reach the $10K level and now that it has consistently showed its resiliency by not going down that level, many are feeling some gloom and doom...there must be something wrong here. Yes, it can be true, people are used to a Bitcoin that is always making a bull run without first analyzing if that can be realistic or not. Just like all of us, Bitcoin can get tired too and it has to take some rest just gathering the require strength for another big race to the top. We just have to be ready for that next big move and not give up what we are holding. The future is with Bitcoin...as always!

arpon11

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Quote from: tonmoycrypto on December 31, 2017, 08:55:49 AM

I still see people panicking and calling for Bitcoin's crash. I believe the Fractals are still in progress. Both Fractal #1 and #2 display an expanded flat a,b,c correction which is likely complete. There is an alternate count for a lower low where the C wave could reach as low as $10k or so. If this becomes the case, then a Zig Zag of 5,3,5 labeling would be justified. There are still a good number of analysts calling for a doom and gloom scenario..

https://steemit.com/bitcoin/@haejin/bitcoin-btc-evening-update-too-many-gloom-and-doomers

Thank you for this analysis and I think this provide the best views of the current state of bitcoin market I have been trying to make traders think along this line instead of this doom make around this forum and social media. I think this is a face of another correction after the recent upward movement we have experienced for the past two to three months.

Chris314

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Quote from: junoreactor on December 31, 2017, 10:42:47 AM

Of course there is a panic, because there is a big hype for months now, and out of control frenzy ever since the price overtook 10k USD.
I am amazed at the number of people with no knowledge at all about Bitcoin and crypto-currencies in general, yet buying and holding, they are the ones panicking at the moment, because they don't understand what is happening. Get some knowledge, try to understand what you invested into. This is not true only for cryptos but anything you invest into.
Make yourself a favor and read this e-book. Wink

Thanks for the link to your e-book, looks interesting, I'll definitively find some time to read those 300 pages.
Yes bitcoin comprehension is a basis before investing. Price now is slowed down with end of the year holidays in many countries and by blockchain congestion (that leads to higher fees).
Trading volumes will go up shortly, but price may go down at start if bitcoin keeps high tx fees.

pooya87

legendary

Activity: 3472

Merit: 10611

Quote from: Denker on January 01, 2018, 05:53:47 AM

Quote from: Pursuer on December 31, 2017, 09:58:51 AM

believe it or not all of this drama is because bitcoin stopped rising!
most people are expecting bitcoin to be rising constantly without even having a correction, let alone some bigger drop and some downtime even if it were at a stable price during an accumulation phase.

thanks for sharing this. at least you had some analysis behind what said... I liked the tutorial links too.

Bitcoin just going sideways for months is a total nightmare for so many noobs and will make them lose hope, giving up.
Not having the patience and unable to grasp the bigger picture of what Bitcoin really is about makes them sell their stash.
This is the advantage of us who are in this space for a few years and where not that much distracted by shitcoins, endless hardforks, and ICOs.
We had the time to study Bitcoin and know how it feels to go through bear phases or just long consolidation periods.

"sideways for months". i doubt that can ever happen with bitcoin!
the ATH was less than 20 days ago and the rise officially stopped in less than 10 days ago! and this sideways movement has only lasted for this 10 days which happens to also be the end of the year, aka holidays Tongue

besides, who cares about people who "lose hope" just because price is not rising. i would very much prefer them to lose their hopes faster and leave the market so we can have a calmer market without their irrational moves.

bitart

hero member

Activity: 1442

Merit: 629

Vires in Numeris

Quote from: Denker on January 01, 2018, 05:53:47 AM

Quote from: Pursuer on December 31, 2017, 09:58:51 AM

believe it or not all of this drama is because bitcoin stopped rising!
most people are expecting bitcoin to be rising constantly without even having a correction, let alone some bigger drop and some downtime even if it were at a stable price during an accumulation phase.

thanks for sharing this. at least you had some analysis behind what said... I liked the tutorial links too.

Bitcoin just going sideways for months is a total nightmare for so many noobs and will make them lose hope, giving up.
Not having the patience and unable to grasp the bigger picture of what Bitcoin really is about makes them sell their stash.
This is the advantage of us who are in this space for a few years and where not that much distracted by shitcoins, endless hardforks, and ICOs.
We had the time to study Bitcoin and know how it feels to go through bear phases or just long consolidation periods.

According to noobs... Yesterday (last year

) a relative of mine (aged 70+) has asked me about bitcoin and the possible investment, where to wire money to buy bitcoin. I've summarized the basics of bitcoin and the whole crypto market and finally I have mentioned that internet and a PC or at least a smartphone is necessary to invest and to track the investment in the future. Also, bitcoin has no physical appearance it only lives inside the blockchain, this is why these smart devices are needed to deal with bitcoin. This was enough for a while, but I was amazed how the news about bitcoin has already reached the everyday people...

Denker

legendary

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Merit: 1014

Quote from: Pursuer on December 31, 2017, 09:58:51 AM

believe it or not all of this drama is because bitcoin stopped rising!
most people are expecting bitcoin to be rising constantly without even having a correction, let alone some bigger drop and some downtime even if it were at a stable price during an accumulation phase.

thanks for sharing this. at least you had some analysis behind what said... I liked the tutorial links too.

Bitcoin just going sideways for months is a total nightmare for so many noobs and will make them lose hope, giving up.
Not having the patience and unable to grasp the bigger picture of what Bitcoin really is about makes them sell their stash.
This is the advantage of us who are in this space for a few years and where not that much distracted by shitcoins, endless hardforks, and ICOs.
We had the time to study Bitcoin and know how it feels to go through bear phases or just long consolidation periods.

Topic: Too Many Gloom & Doomers! - page 2. (Read 442 times)