Nobody thought it would happen. But here it is, happening.
You're right, NOBODY could have possibly seen this coming. Dec 23, 2017:
Chart indicates 2 shakeouts before the pump, then price returns to the average of the bottom of the 1st and 2nd shakeout. So bitcoin around $4200 incoming. Probably won't happen till after Martin Looter Coon day.
Bonus round:
Please, no one trample JayJuanGee in the rush to the exits, as he will be hodling all the way to $4200:
Mmm probably you Made that prediction right after when torque sad (@ around ATH) many Will be crying when it Goes back to below 5K and it Will he said...... we need this kind of shakeouts etc
So your prediction Will be based on that i guess
Or just trolling and accidentaly come true also possible
My forecast when it was $20k was not based on anything other people said. My forecast was based entirely on treating bitcoin as a completely valueless pump and dump that's occurred in markets millions of times before. The people who are losing everything are the ones that pretend "this time it's different", under the delusion that bitcoin is somehow destined to become the world reserve currency or something like that when it's fundamentals are god awful compared to gold and silver. Anyone who has been in this market long enough (especially the MatTheCat days), knows bitcoin trades solely like a pump and dump scam and nothing else.
I had also mentioned it would probably stabilize around $4200 but would have flash crashes to $3k, but that wasn't quoted above. Since bitcoin trades solely like a pump and dump, even if it does stabilize here, it requires a new pump and dumper to come in and accumulate and then do all the fakeouts and other bullshit again. If no new pump and dumper attempts to take the reigns, then it's not going anywhere. However, as I've said numerous times before, the entire worldwide bitcoin market is controlled by a single entity operating on Bitfinex through fraud. It would be great if none of you sell anything so there's tons of shoeshine boys ready to dump on him in case he tries his pump and dump scam again.
There are also other factors like how many miners will go bankrupt in the current market rout. Bitmain seems to be having a lot of trouble and looks pretty shaky. If they went bankrupt, the bottom would probably drop out of the pseudo, temporary price floor for instance. I have no idea how much hashpower Bitmain INC personally controls (25%? 30%? 50%? more?), but I imagine most of it would turn off simultaneously if they went bankrupt. Depending which miners go bankrupt in the current rout (and many will), TERA's prediction of a $1000 bottom or lower, or whatever it was, might actually come true.