We've officially entered a new long term bear market

jseverson

hero member

Activity: 1834

Merit: 759

Quote from: kwukduck on January 16, 2018, 04:52:15 PM

I think this confirms what i've been saying for some time now.
Bitcoin has had its time.
Losing capital really fast now and no signs of recovery.

Technical capacity is not there.
Community support is not there.
Media support is not there.
Economic support is not there.

So many altcoins that solve the problems of this giant cluster f*ck that is Bitcoin Core.

We may very well be entering a long term bear market, but even so, I don't think it's because of the bolded part. Everything is down, and some are even struggling harder than Bitcoin. If Bitcoin Core were the problem and alts were the solution, we should be seeing Bitcoin sliding with alts surging (granted, that happened some weeks ago, with Ripple surging, then Ethereum surging).

I'm not calling it quits with Bitcoin just yet.

sgbett

legendary

Activity: 2576

Merit: 1087

Quote from: alyssa85 on January 16, 2018, 06:18:04 PM

Quote from: sgbett on January 16, 2018, 04:54:10 PM

OMG! reversal confirmed!

Come now - we are in a bear market. $11,000 is 42% down from the all time high of around $19,000. By any definition it's a bear market. With a bit of luck it will go sideways for a time, but we could go as low as $8000.

The legendary duck is a notorious counter indicator, second only to MatTheCat aka MatDerKater, my attempt at humour clearly failed Wink

I'm quite sure its a bear market... https://bitcointalksearch.org/topic/m.25912324

eth9888

full member

Activity: 291

Merit: 105

Looking at coin market cap and decide 19K is the highest achieved bitcoin price is wrong. except Korean market, all other international markets barely traded above 17K while korean market was trading at 23/24K

also then of course, the 20% = bear market theory is applicable to stock market, not really useful for crypto market analysis.

EcoChavCrypto

sr. member

Activity: 448

Merit: 250

Quote from: kwukduck on January 16, 2018, 04:52:15 PM

I think this confirms what i've been saying for some time now. Bitcoin has had its time.
Losing capital really fast now and no signs of recovery.

Yeah sure! We are on a SUPER LONG TERM BEAR MARKET BECAUSE WE ARE ON JANUARY THE 16TH!

Yes, yes, sure, we are on it before your balls decided to write this thread by their own in order to make other people sell right?

I dunno why a lot of people think that this is the end, or whatever they want to think about. Just relax, smoke some weed (if you have some) and leave the market for a while.

And no, it is not a bear market, it is not confirmed yet, not even the first month of the year has already passed.

STT

legendary

Activity: 4102

Merit: 1454

Actually 20% down is a bear market if we talk long term market measure but of course crypto is forex not stocks or bonds and its not really conforming to traditional methods. There is no absolute certainties and really it relys on volume as a high price can be set by quite a small set of the overall population behind a market price.

Since we dont really have a central exchange this is hard to judge, better statistics are required for such accuracy to be declared. People point to dollar but dont pay enough attention to China's use and demand for bitcoin, the tail cant be wagging the dog here. Its down to the primary users not so much those sitting in a reserve currency, obviously Bitcoin is of most use to those in developing countries without full usage of normal banking facilities.

BitHodler

legendary

Activity: 1526

Merit: 1179

Quote from: alyssa85 on January 16, 2018, 06:18:04 PM

Come now - we are in a bear market. $11,000 is 42% down from the all time high of around $19,000. By any definition it's a bear market. With a bit of luck it will go sideways for a time, but we could go as low as $8000.

There are 2 views that you get when looking at charts. The first is a rather bearish looking version if you just look at the period between the all time high last year till what the price is right now.

Second view is a rather bullish version if you open a chart of the last 12 months. I prefer to focus on the long, but it seems that most people here only look at what the extreme short term has to offer, and that's a bearish look.

Overall, it's not all that bad. I see it as a cheap way of opening very profitable long term positions in this market. Even if you just look to benefit from the fluctuations you are having a wonderful time right now.

alyssa85

legendary

Activity: 1652

Merit: 1088

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Quote from: sgbett on January 16, 2018, 04:54:10 PM

OMG! reversal confirmed!

Come now - we are in a bear market. $11,000 is 42% down from the all time high of around $19,000. By any definition it's a bear market. With a bit of luck it will go sideways for a time, but we could go as low as $8000.

sgbett

legendary

Activity: 2576

Merit: 1087

OMG! reversal confirmed!

kwukduck

legendary

Activity: 1937

Merit: 1001

I think this confirms what i've been saying for some time now.
Bitcoin has had its time.
Losing capital really fast now and no signs of recovery.

Technical capacity is not there.
Community support is not there.
Media support is not there.
Economic support is not there.

So many altcoins that solve the problems of this giant cluster f*ck that is Bitcoin Core.

Topic: We've officially entered a new long term bear market (Read 213 times)