Bitcoin Forum

Whatever you guys say, this isn't natural and organic growth.  Hell...  this isn't even sustainable in the medium terms and somebody's gotta give.  And that's most likely the bulls imho.  How much more pumpers can keep this up until mid 2018?

Then again, it might only be me who's getting scared.  Answer the poll and make me feel better.  Lol.  :D

https://i.imgur.com/w5MlCTZ.png

Westerday the price went to 15600 USD,but today it was around 14420 USD before a few hours and it went back to 15750 USD.
We are waiting for the  price correction and there`s nothing to worry about.I think that most of the btc holders started selling their btc savings for USD to cash out some profits at this price.This is not panic selling,but at some point ,it might create some panic around the newbie traders.

It's pretty natural as far as Bitcoin goes. Its charts resemble Gartner hype cycles more than anything else I've seen, so I honestly wasn't surprised to see it blow through $10,000 like nothing. We hadn't even gone vertical yet, no signs of a blow-off top. And I still don't think we've seen the signs yet. I want to see a fat range on the monthly like 2013. Let's do 400% in a month. Then dump it! :P


I'm completely terrified. It's so weird how this price action just frays my nerves constantly. It's exhausting. It's really weird, but I would honestly prefer that it just crashes soon, even though my portfolio will take a big hit.

of course it's not an organic growth because it's totally manipulated by them.
not only you,even i felt the same thing.
what i am afraid for is not about the price that will be dump in the next later on but instead investor interest.
just imagine,everyday the demand keep increasing and i believe everyday there'll be another investor that play this game.
what will happen with them when they're starting their journey and at the same time the price get pushed to the bottom in the next day ?
do not you think they will feel bad ?
about this bullrun i think at best we will see it until Q1 2018 or around that and then bear market begins.
not really sure about how high it can be because the price totally unpredictable,can go up $2000 in the next few hours.
can go down $5000 in the next few hours just like before.

It's definitely not natural, most of it is generated from hype and as far as i know, speculators. Of course there are average Joes getting into bitcoin, and adoption rates are increasing fast as well, but nowhere near the speed BTC is growing at this moment.

Obviously is always a dilemma for holders. Do you sell at such a high rate and potentially lose out on so much more, or do you hold but at the same time taking on a huge risk of the price of BTC dropping drastically as you do?

I would say though that you'll probably see BTC rise up until mid-2018 before anything catastrophic happens. Don't expect it to be all merry.

Based on past cycles, I'm expecting a major correction to occur between now and late January, which I would expect to last ~3 months. Given the current trajectory, it's doubtful we'll enter a long term bear market yet. On Masterluc's chart, I believe we are near the end of a lower degree third wave. So, consolidate for a couple months, and then a final face-ripping rally into bear hell: $100k bitcoins.

Then we can enter a longterm bear market. After Mom and Pop have all bought in and hedge funds have the economy riding on cryptocurrency positions..... That'll be fun!

In the meantime... this ain't over. Keep praying for dips so you can keep setting up new longs. 5-10x longs = money printing in this kind of price action. Stay away from that 100x shit though....

no, it is not just you. although I only agree with the circle thing on your chart, well a little bigger one including the rise from $10,000 and above. not the whole chart. up until that point I do not see any problem with the rise, I consider it perfectly natural and understandable to rise like this and this big. but I can not understand the rise from $10,000 to this point and possibly even more to come. that doesn't struck me as a natural rise anymore. or at least not 100% natural because obviously there is a lot of adoption still going on but not enough for $16,000 like this!

and I am not scared of the fall, I love a fall to sell and buy even more bitcoin with the profit I gain. but I am afraid of is what happens because of the drop and how big it can be. I don't like seeing bitcoin in a prolonged bear market struggling to rise. and that will damage the adoption in my opinion but at the same time is good to flush out the weak hands if it lasts a short time.

Of course, the rational thing to do has ben pull out for probably the past 2-3 months but it has obviously kept going. Me personally have never expected this to go over $10k, but obviously i have been proven to be dead wrong.

With the influx of money from institutional investors + a lot of people now interested in buying bitcoin due to the fear of missing out, the price could well go up for a lot longer than anyone could expect.

I would definitely keep some BTc, at the same time, start selling some.

I've sold early numerous times now so i'm a bit scared that this time it's just going to be a bear trap.

But as you said, this isn't sustainable growth at all. No way is bitcoin continue to grow at 5% a day, let alone 5% per week which would basically mean 4x bticoin's price every single year. But recently we're seeing 10-20% per day pretty frequently increases.

We have no idea of predicting when the bubble is going to fully burst, though. It might be next year, it might go on until the end of the decade. BTC may even go to $1 million as Mcafee said it would. Nobody knows, but it is already a bubble by this point.

That's just a daily chart. I'm looking for vertical action on the monthly chart. After all, this move has basically taken a year to climax in parabolic leg. Still no blow-off candle with huge range indicative of incoming carnage. Here's a comparison to 2013 (sorry for the horrible resolution):

https://i.imgur.com/tXuZ8NT.png

Another thing: check the altcoin charts. ETH, BCH, XLM, even DOGE are all standing at attention and starting to push upwards during this last BTCUSD dip. That suggests that money is flowing into altcoins. During a real crash, altcoins crash as well as everyone exits to cash.

Exactly.  And please edit your post.  It's showing that I'm the one commenting 'We hadn't even gone vertical yet, no signs of a blow-off top.'

Anyway yeah, I think this will be another 'lull' on its trend up again?  I think we'll start seeing some alts rising this coming January?  I mean where all that Bitcoins go besides being held in wallets?  Some whales could start thinking 'Oh look *coin name here* is trending up.  BUY!'  Lol.  ;D