Think BTC is going to crash again?

[cashking9111]

yeah but nobody knows when, just pump and dump...

 

[BlackStar81]

I remember a time when bitcoin was worth $200 and I wanted to buy three bitcoins ...

 

[HustleForLife]

comments are really funny. Everyone is guessing, and no one is giving a logical approach to the topic.

Soon mooooooon

 

[EroMediaBV]

It’s all gonna crash soon. I have buddies from high school telling me how they bought bitcoin that’s how you know it’s over lolol.

 

[Chicilikit]

Yes, I think it is for sure going above 20K long term, but there will be some fall to 15K maybe lower in next two months. Markets behave weird around end of the year quite often.

 

[magicjones]

It’s all gonna crash soon. I have buddies from high school telling me how they bought bitcoin that’s how you know it’s over lolol.

That's not how it works lol the more people own it the value goes up

 

[EroMediaBV]

That's not how it works lol the more people own it the value goes up

I understand that but reality is the types of people I know at this stage buying it are telling me things like “ETH will be $150K by December” lol they will sell the second they lose $200 in volatility. They just buy because their scared of missing out. I could be wrong I’m just guessing but I’d imagine bitcoin will be headed down soon.

 

[magicjones]

I understand that but reality is the types of people I know at this stage buying it are telling me things like “ETH will be $150K by December” lol they will sell the second they lose $200 in volatility. They just buy because their scared of missing out. I could be wrong I’m just guessing but I’d imagine bitcoin will be headed down soon.

Oh yeah, it's anyone's guess really, all I wish was I held more BTC this year instead of USD, which has been tanking!

 

[EroMediaBV]

Oh yeah, it's anyone's guess really, all I wish was I held more BTC this year instead of USD, which has been tanking!

Lucky for me I earn in dollars but keep my cash savings in euros which against USD has gone from about 1.09 to 1.21 now so not a massive gain but it’s better than any bank interest I’d get from it in my US bank or NL bank account. However my costs of living rise since I earn in USD but live in euros so it’s not entirely a win for me either lol.

I had about 1 bitcoin earlier this year that was from customers of mine paying by crypto and if only I had held it to now haha oh well.

 

[truonghaiceo]

waiting for the shark to make the market price.
But I believe it will drop to under 10k, buy in and travel

 

[awesomewebsites]

Best thing is no one knows exactly. Still tempting to discuss.

 

[truonghaiceo]

Best thing is no one knows exactly. Still tempting to discuss.

Yes, I bought 30 bitcoins at its price of $ 600 in 2014. But I sold them when I needed money to finance my life.
This market needs idle capital.

 

[SocialNed]

The fact that many hedge fund managers, institutions, banks, etc are all coming out now saying they are buying bitcoin, hedging against the collapse of the US dollar... coupled with the supply shortage. Most of the odds are in favor of bitcoin exploding.

If I invest $1000 into bitcoin, sure I could lose half of it or possible 90% of it, but if money comes pouring out of the US dollar and Gold and thousands of other assets into bitcoin, that $1000 could be $10,000, $50,000 and so on.

So basically if you have $1000 to lose why not. Could be the best investment you've ever made.

Do yourself a favour and watch this video:

 

[Deleted member 1333509]

The size of the mainstream financial market is gigantic compared to crypto right now. If 1% of the mainstream market transitioned into crypto it would have a big impact on price.

 

[TokyoGlo]

We should go back down to 13-15k at least once more!

It's currently overbought on the weekly chart (using bollinger bands, RSI, and MFI)

It will need to retrace and come back down to continue a healthy bull cycle.

50 to 61.8% fib retracement is common in these scenarios.

If you look at the entire history of BTC on the charts, this has been the case 100% of the time it went overbought on the weekly.

 

[allosaurusmktg]

Ride it between 15k and 20k my friend...

You can use tether (USDT or TUSD) to short it when it gets too hot, then buy back into BTC when it is ready to run again. Up and down and up and down and...

 

[HoNeYBiRD]

comments are really funny. Everyone is guessing, and no one is giving a logical approach to the topic.

Probably because there's none and it's a guessing game. If there would be a logical approach, people could know, when to invest/hold and when to sell, so these kind of threads wouldn't born. You may know, how it reacts in certain scenarios, but you can't tell, when those scenarios will happen or if something unexpected comes, you can bin your predictions. Who would have thought even just a year ago, that this year will be the year of the pandemic and the next one too?

 

[Deleted member 1333509]

We should go back down to 13-15k at least once more!

It's currently overbought on the weekly chart (using bollinger bands, RSI, and MFI)

It will need to retrace and come back down to continue a healthy bull cycle.

50 to 61.8% fib retracement is common in these scenarios.

If you look at the entire history of BTC on the charts, this has been the case 100% of the time it went overbought on the weekly.

It's good analysis, but I don't think the price of BTC at this point is really that overbought when looking at bolls on the weekly:



The indicator that's more interesting is ADP (similar to RSI):



The ADP rate (blue indicator at the bottom) at the peak of the last bull run was 93, we're now at 82. I think it could continue with upwards trend until the ADP reaches 93, which would be around $25K give or take. Presents the case for a push to $25K then retraction to $20K before continuing.

 

[allosaurusmktg]

DAMN got greedy again, was waiting for it to hit ~19,5 to tether.... nope it already dipped MISSED THE BOAT AGAIN

 

[rajkumar31]

Let's get one more opportunity to accumulate more