Bitcoin Downtrend.
- Thread starter Dark Sky
- Start date
Naughtyfatkid
Senior Member
- Sep 20, 2020
- 922
- 1,368
downtrend confirmed. saw it in my dreams.
Brickbat1
Elite Member
- Mar 22, 2010
- 2,366
- 1,391
It will consolidate for a while to some choppy sideways trading..and when its ready, it will head north again - why? Fundamentals of Economics 101 still apply. Its like the Dollar - forever devaluing over the years -why? QE never stops.
PS: This is longterm analysis by the way, not daily chart trading.
bdman
Elite Member
- Oct 12, 2009
- 3,836
- 2,035
D
Deleted member 1333509
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Next stop.. 47k
Dark Sky
Banned - leaving fake reviews.
- Apr 3, 2019
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$24K is certainly more likely than $10K, but let's see man.I'll give it 10 days before it hits 24k
If it gets to $24K I hope you've your bags open.
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Dark Sky
Banned - leaving fake reviews.
- Apr 3, 2019
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I dno man, the price depends entirely on the adoption since bitcoin has no intrinsic value, I haven't seen anything too drastic to suggest it can't stabilise around 10k. Could be wrong but that's the price im waiting for
I'm confident it will reach 10k this year
D
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You'll hear people say that Bitcoin has no intrinsic value all the time.. it's a worthless statement tbh.I dno man, the price depends entirely on the adoption since bitcoin has no intrinsic value, I haven't seen anything too drastic to suggest it can't stabilise around 10k. Could be wrong but that's the price im waiting for
The value BTC provides are unique solutions to a range of different problems.. BTC initially, but now crypto more broadly. But the mistake people make is thinking that Bitcoin having no intrinsic value means that the only reason it's valuable is because of speculation.. which is not right at all.
Like I said, if you go for a $10K entry point and get it.. congrats. But BTC getting back down that low now would indicate a serious problem.
Maybe if every stablecoin was simultaneously banned and people lost billions over night, plus midway through a bull run that would be pretty catastrophic.
Outside of that, BTC getting back to $10K without a major negative event would be fairly ludicrous at this point imho.
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Dark Sky
Banned - leaving fake reviews.
- Apr 3, 2019
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I disagree, it has no intrinsic value as no government is backing it, it has nothing backing it. Therefor it has no intrinsic value, it does have value and that's based on adoption, but not intrinsic value.
It' reaches 3.5k in 2018 after the 20k, It can definitely reach 10k IMO, there has not been a significant amount of adoption since 2018 to suggest it can't reach 10k..
D
Deleted member 1333509
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You're entering whacky land a bit mate.
I didn't say it had intrinsic value, I said it is a worthless statement that many people get confused over.
If you think the point in time we're at now is the equivalent of the tail end of the 2017 bull run, you're in for a rude awakening too bro. This isn't the end of the run.. it's only just begun. The halving was midway through last year.. runs take about 18 months to materialise.
The real whacky thing you said though is that there has not been a significant amount of adoption since 2018. It's important to know what you're talking about mate if you're basing your investing on it, and that's patently false.
Just one metric of many:
BrandingCat
Elite Member
- Jan 6, 2015
- 8,113
- 10,311
Fuck bitcoins and altcoins, sell them all so I can buy low.
HustleForLife
Regular Member
- May 11, 2020
- 209
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People seems to have forgotten that it's common for btc to retrace at least 30% during it's bullrun. And lastly, stay poor plebs.
MartinRaymond1999
Regular Member
- Dec 30, 2020
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42,000 * 0.66 = 27720.
At this point in the 2017 run, it retraced exactly 25%.
42,000 * 0.75 = 31500
Take your pick.
AccManager2009
Power Member
- Jan 24, 2018
- 786
- 291
I don't know English well, so I apologize for grammatical mistakes. Here's what I think about bitcoin.
I don’t want to upset you, but unfortunately this may be the case with Bitcoin. Since 2019, I have been for long on Bitcoin up to 50-60k, when many such prices could not even imagine. At this point in time, I already think where the potential ATH for BTC is possible. Now everyone is at 100k and everyone is bullish, but the market may have slightly different plans. Until recently, no one believed in the breakdown of 10,000, but now if you say that Bitcoin will collapse to 15,000, no one will believe it anymore‼ ️ - People very quickly get used to new prices, and what seemed too expensive just recently is now too cheap , everyone buys both 30k and 35k - If 53,000 - 57,000 is ATH in growth, bitcoin will fall to $ 15,000 - there will be a long medium-term correction - If I was mistaken and it grows to $ 100,000, it will still collapse to $ 20,000 - $ 25,000, no matter what they say. There is no eternal growth, just as there is no eternal fall. This trading idea IS NOT A RECOMMENDATION FOR MAKING TRADING DECISIONS, because at least it is not yet clear where the global extremum (ATH) will be, which BTC will not update until the next growth cycle
- I continue to follow the trend and follow Bitcoin, but I am ready for the fact that the long peak may be closer than most people think. The market will turn around in such a way that no one will understand that it has already turned around, that Bitcoin can fall 2 times faster than it can grow.
I don’t want to upset you, but unfortunately this may be the case with Bitcoin. Since 2019, I have been for long on Bitcoin up to 50-60k, when many such prices could not even imagine. At this point in time, I already think where the potential ATH for BTC is possible. Now everyone is at 100k and everyone is bullish, but the market may have slightly different plans. Until recently, no one believed in the breakdown of 10,000, but now if you say that Bitcoin will collapse to 15,000, no one will believe it anymore‼ ️ - People very quickly get used to new prices, and what seemed too expensive just recently is now too cheap , everyone buys both 30k and 35k - If 53,000 - 57,000 is ATH in growth, bitcoin will fall to $ 15,000 - there will be a long medium-term correction - If I was mistaken and it grows to $ 100,000, it will still collapse to $ 20,000 - $ 25,000, no matter what they say. There is no eternal growth, just as there is no eternal fall. This trading idea IS NOT A RECOMMENDATION FOR MAKING TRADING DECISIONS, because at least it is not yet clear where the global extremum (ATH) will be, which BTC will not update until the next growth cycle
- I continue to follow the trend and follow Bitcoin, but I am ready for the fact that the long peak may be closer than most people think. The market will turn around in such a way that no one will understand that it has already turned around, that Bitcoin can fall 2 times faster than it can grow.
D
Deleted member 1333509
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13mins from now, shit could be getting real.