Topic: Was $17.5K the low? - page 5. (Read 989 times)
I hope there will be no more decline after $ 17K, if prices continue to fall will make FUDS from haters more massive, even many continue to campaign to kill cryptocurrencies, and the main target is to make bitcoin continue to dump so investors lose trust in the future cryptocurrencies.
I’d like to think we’ve seen the low. There was no clear spike in volume with a capitulation moment at the low though. Maybe that’s a result of this being an orchestrated attempt to liquidate leveraged players, but if history is any guide I think we still have lower to go before the next leg up. That doesn’t mean this isn’t a good time to buy, but buy slowly with a plan and avoid leverage.
Well then for others they have to wait for the opportunity to come again, because as this point, we've bounce again above the $20k support. So maybe for this year, we have seen the lows. Nevertheless, I also think that next year, we will still have to go lower and then leg up on 2024. So it remains to be seen and congrats to those who are still holding and then buy more when we have $17.5 a couple of days ago. That was the perfect opportunity for this year. 
I’d like to think we’ve seen the low. There was no clear spike in volume with a capitulation moment at the low though. Maybe that’s a result of this being an orchestrated attempt to liquidate leveraged players, but if history is any guide I think we still have lower to go before the next leg up. That doesn’t mean this isn’t a good time to buy, but buy slowly with a plan and avoid leverage.
The best and most scientific strategy right now is high leverage short positions. In fact, that is guaranteed to be the most profitable trade of this decade as bitcoin continues its collapse.
I’d like to think we’ve seen the low. There was no clear spike in volume with a capitulation moment at the low though. Maybe that’s a result of this being an orchestrated attempt to liquidate leveraged players, but if history is any guide I think we still have lower to go before the next leg up. That doesn’t mean this isn’t a good time to buy, but buy slowly with a plan and avoid leverage.
Ok, here's what's going to happen. And I've done all the research and science, so you don't have to. First, bitcoin will never be above $20k for more than 1 month ever again. I don't mean this year, or over the next 2 years. I mean ever. Will never happen. So get any hopes of new ATHs completely out of your head. Second, the price of bitcoin at the end of this year will be much, much, much lower than the price right now. Finally, and here's where the science gets a little tricky. Is the price sustainable between, say, $5k and $10k? Maybe, but not likely. My math shows that bitcoin has the highest sustainability quotient between $750 and $2,342; and that's where I believe we're headed. If I wanted to own bitcoin again (I don't because USD is a much safer long term investment), then I'd stagger entries mostly between that range, but I would definitely place some buys in the low hundreds, like around $250 in order to catch some of sharp moves we'll see over the next 2 years.
there are still many who speculate and choose Bitcoin down to $14k?, I don't think it's possible,
because $17.5k is a strong support for Bitcoin, so why think about $14k? I myself still hold,
and I'm sure many traders also hold bitcoin for the long term
because $17.5k is a strong support for Bitcoin, so why think about $14k? I myself still hold,
and I'm sure many traders also hold bitcoin for the long term
I have been holding since before HODL was a thing, and will continue to, but I think we could go lower, maybe $15k, briefly. There just wasn't enough deep fear-driven volume in the low to be the low, IMO. Especially considering that we dropped below the previous ATH, that is huge. Magical thinking was supporting the $20k level, now we need a mountain of fear and blood to be the new foundations.
We'll be all back to normal in a few weeks though, enjoy the ride
P.S. this has been confirmed by sauces.
We'll be all back to normal in a few weeks though, enjoy the ride
P.S. this has been confirmed by sauces.
Technical analysis: max bottom (at the present time) is between 12K to 14K, which represents the typical correction of the previous ATH cycles.
The problem is that analyzes follow the trend without knowing the reason.
What I mean is that as soon as we go down to those levels, more negative news will surface, meaning if the 12K levels are tested, you will find the fearful people show the 8K analysis without a convincing reason.
Bitcoin Average Mining Costs dropping down which is a good indicator.
The problem is that analyzes follow the trend without knowing the reason.
- if you asked three months ago about the price expectations, you will rarely find someone arguing about the bottom.
- that bottom which (in the past) was about 30k or at levels above 20k according to the most pessimists.
What I mean is that as soon as we go down to those levels, more negative news will surface, meaning if the 12K levels are tested, you will find the fearful people show the 8K analysis without a convincing reason.
Bitcoin Average Mining Costs dropping down which is a good indicator.
I would like it to have been the low of this cycle, the problem is that as the economic situation is, many events can catapult the price down, and the price of Celsius liquidation is over $14K, so getting close to that price would be very dangerous.
The use of leverage has been partly responsible for the recent downturns we have seen, leverage that has been used and promoted during this cycle, both by certain authors and by the sitees that profit from it.
Are you just going by intuition?
I do not dare to guess, because the price will depend on future events that we cannot predict.
The use of leverage has been partly responsible for the recent downturns we have seen, leverage that has been used and promoted during this cycle, both by certain authors and by the sitees that profit from it.
you did not give me 13k or 15k or 16k
I personally think 15.1 to 15.5k
I personally think 15.1 to 15.5k
Are you just going by intuition?
I do not dare to guess, because the price will depend on future events that we cannot predict.
I noticed that recently on @bitcoin twitter most users thought that price would reach $15K prior to $25K in the next few months
On Bitcoin twitter handlers you'll see some who are expecting a breakout "any day now" for more than a month (and meanwhile the price keeps going lower)
So I would really take all I find on twitter with quite a pinch of salt.
And whether 17.5k was the low is hard to tell. I think that we can safely say anything only after we're far from this kind of levels, both as price and time (i.e. closer to next halving).
Right now even under-10k levels seem to be possible if we look for rather pessimistic calculations that still somewhat make sense. (I personally think/hope we won't get so low though.)
But if we should face reality, this does not stop new projects to be created, there are almost 10000 cryptocurrencies that are presently existing, new coins are created almost daily or weekly.
Of course they won't stop. The fact that newer (probably even crappier) cryptocurrency projects can be created doesn't mean the old ones that are useless shouldn't die out.
I'd personally prefer that we'd get far worse sort of "market cleansing" from here. Still so much useless fluff in the broader cryptocurrency space that I want those projects to just die out first.
But if we should face reality, this does not stop new projects to be created, there are almost 10000 cryptocurrencies that are presently existing, new coins are created almost daily or weekly. What I just see is that altcoins have no utility and they are centralized, centralized coins are all not worthy to be coins, but people can not change. I always say this too, altcoins are totally gambling.There are 19935 craptos on CoinMarketCap
I'd personally prefer that we'd get far worse sort of "market cleansing" from here. Still so much useless fluff in the broader cryptocurrency space that I want those projects to just die out first.
But if we should face reality, this does not stop new projects to be created, there are almost 10000 cryptocurrencies that are presently existing, new coins are created almost daily or weekly. What I just see is that altcoins have no utility and they are centralized, centralized coins are all not worthy to be coins, but people can not change. I always say this too, altcoins are totally gambling.Most of the new altcoins that are being created is just because of the hype or they are just following the trend and some of them don't have any use case at all like you said. They don't have their own brand at all which kinda frustrates me a bit but it is what it is.
As for the OP, I still believe that we might reach the $12k price
. I just based it on the 2018-2018 crash. With what is happening right now, I still don't see any catalysts that might affect the price movement of Bitcoin or at least there are no reasons for it to make a trend reversal at all. 
I'd personally prefer that we'd get far worse sort of "market cleansing" from here. Still so much useless fluff in the broader cryptocurrency space that I want those projects to just die out first.
But if we should face reality, this does not stop new projects to be created, there are almost
Now the bitcoin price has returned to $20k again, and hopefully $17k is the worst record and doesn't happen again, there will be a big impact if the bitcoin price continues to fall and what I feel is my altcoins also dropped significantly, from this lesson we have to take a plan that if the market has dropped more than 5% then I will immediately switch to stable coins as suggested by coinbase.
I think everyone would love that but the problem is that as soon as bitcoin starts rising back up again, the shitprojects would also start being created or existing ones be pumped and dumped again.
True. Hence why I'd really want bitcoin to drop more. Also, I definitely could be very very wrong but I think BTC's dominance should rise up from here first. This huge drop was mostly caused by liquidation cascades that I don't think we've seen much retail selling yet.
A lot of weak hand newbies were purged from the market when the big crash occurred but the problem with irrational market behaviors is that they are going to continue being unpredictable so my vote is the last option.
I'd personally prefer that we'd get far worse sort of "market cleansing" from here. Still so much useless fluff in the broader cryptocurrency space that I want those projects to just die out first.
I think everyone would love that but the problem is that as soon as bitcoin starts rising back up again, the shitprojects would also start being created or existing ones be pumped and dumped again. 
Voted for more lower and seems like most believes this t happen , we are not stopping here t fall because the world are still experiencing our lowering market.
so we are not here to stop and just to bring more low in market , this is the movement towards 2022 and maybe will stay till 2024 before the Halving happens once again.
so we are not here to stop and just to bring more low in market , this is the movement towards 2022 and maybe will stay till 2024 before the Halving happens once again.
I'd personally prefer that we'd get far worse sort of "market cleansing" from here. Still so much useless fluff in the broader cryptocurrency space that I want those projects to just die out first.
It seems that this was some attack where there was a huge liquidation at $895 on ETH. They waited until the weekend when liquidity was low to perform this. Basically as soon as the $895 liquidation was hit, price reversed.
Now there is talk that the large FTX exchange might be bailing out some of these liquidated hedge funds. Currently its all speculation however this was enough to cause the market to rally past $20K.
Its crazy how the CME open and closed at pretty much the same price.
Now there is talk that the large FTX exchange might be bailing out some of these liquidated hedge funds. Currently its all speculation however this was enough to cause the market to rally past $20K.
Its crazy how the CME open and closed at pretty much the same price.
Jump to: