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$10,000 is a pretty entertaining psychological barrier.
There are the stubborn buyers who refuse to buy 5 digit Bitcorn, but snatch it up the moment it drops a mere 0.1% into "paltry" $9k territory.
And then there the stubborn sellers who refuse to part with 4 digit Bitcorn, quickly selling it the moment it rises a mere 0.1% into "lofty" $10k territory.
Up and down we go, like a see-saw.
Or like a fisherman at the $10k waters edge, trying to reel in $9k fish. While the fish are leaping out of the water determined to catch juicy $10k bugs.
The indecision in today's market is boringly maddening. Looks like we'll close on a doji.
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Tether is only 2.3 billion in a market of more than 500 billion.
Think about it for a minute.
Tether is not intended to be speculative. There's supposed to be $2.3B actual fiat backing it. vs crypto "market cap", which is hugely speculative. It's not an actual valuation, it's simply supply x price. So yes, the collapse of Tether could have a hugely disproportionate effect on the whole crypto market if it's backed by little to nothing. |
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Bitcoin has been on a run. Despite its recent dip, the cryptocurrency has impressed skeptics and believers alike in its monumental rise in value since its creation nine years ago. But all that could be on the verge of change. Because while the argument rages on as to whether Bitcoin is in fact a currency or a store of value, one question looms large over all: Just what, exactly, is driving its price growth? Well, a consensus answer is slowly forming among critics, and it doesn't look good for the world of cryptocurrency. In fact, it looks so bad that those same critics are predicting Bitcoin could take as much as an 80 percent hit in value. That would mean BTC, which at the time of this writing is worth around $11,085, would drop down to near $2,200. (Continued...) https://mashable.com/2018/01/29/bitcoin-tether-stablecoin-alleged-scam |
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Sliced and diced by calendar year might also reveal some trends. But I doubt calendar numerology will get you too far. With the exception of 2014, every year ended higher than it started. The lowest prices of the year were in Jan/Feb and highest in Dec, but this has already been pointed out. 2014 is the only year that ended lower than it started. This was following 2013 which achieved three doubling floors prior to Mt Gox rise and fall. 2017 achieved four doublings floors if $10k holds... Let's hope 2018 doesn't follow 2014's trend!  |
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I've posted a series of these charts in other threads, but mind as well start consolidating them in my own thread... Today's baby breakout is making me brave enough to call $10,000 our new floor. Time for a doubling floor update! $10k marks the 12th doubling since Bitcoin was $2.50 in 2012. From $2.5k to $5k took 77 days. From $5k to $10k has taken 100 days, if $10k holds. The shortest doubling floor was from $20 to $40 in 39 days. The longest doubling floor was from $80 to $160 in 546 days during the Mt Gox era. I'm guesstimating from trend ~90 days from now we might establish $20,000 as a new floor, sometime in April? As a HODLer, I prefer charting floors vs all-time highs. Traders prefer ATHs, I suppose. Too transient and susceptible to FUD for me. Hopefully this is the last time we see quadruple digits!  |
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@mfort312 extrapolating those doubling floor dates and time periods could be quite interesting. Instead of 90 what would 183(or any of the other previous numbers)days look like. Looking the exact dates is probably also worth investigation.
Well a quick slice and dice aligned by calendar year might reveal some trends. But I doubt calendar numerology will get you too far. With the exception of 2014, every year ended higher than it started. The lowest prices of the year were in Jan/Feb and highest in Dec, but this has already been pointed out. 2014 is the only year that ended lower than it started. This was following 2013 which achieved three doubling floors prior to Mt Gox rise and fall. 2017 achieved four doublings floors if $10k holds... Let's hope 2018 doesn't follow 2014's trend! |
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Alrighty, this baby breakout is making me brave enough to call $10,000 our new floor. Time for a doubling floor update! $10k marks the 12th doubling since Bitcoin was $2.50 in 2012. From $2.5k to $5k took 77 days. From $5k to $10k has taken 100 days, if $10k holds. The shortest doubling floor was from $20 to $40 in 39 days. The longest doubling floor was from $80 to $160 in 546 days during the Mt Gox era. I'm guesstimating from trend ~90 days from now we might establish $20,000 as a new floor, sometime in April? As a HODLer, I prefer charting floors vs all-time highs. Traders prefer ATHs, I suppose. Too transient and susceptible to FUD for me. Hopefully this is the last time we see quadruple digits! |
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Holy crap! That is a bullish weekly pinbar if it closes like that in 24 hours!  My sentiments exactly... Nice volume spike... Can't stop staring at the 1 min chart drama playing out. Bull flag coming to a close? Hope it holds! Before Chinese New Year even! |
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By April chances are Bitcoin will be the #2 Cryptocurrency. When people figure out the lightning network works like a centralized exchange that has low security and no insurance, you may lose a lot. BTC died when Gavin left, maybe even when Satoshi left. Either way, it is ruled by greed and incompetence and is quickly becoming obsolete.
Are you sure that the Bitcoin will be crypto #2, I think it will never happen. When price of bitcoin goes down, other currencies follow, and their price is linked to the bitcoin price. It's true that they move the way the tide moves with the moon. But if you examine the trend, Ethereum gained 10x more than BTC last year. Ethereum has a development roadmap, a solid core team. Ethereum has secondary and third use cases, they donated 2 million to study blockchain efficiency and are responsible for about 55% of all crypto transactions. So even though Eth goes down with BTC, its gains on average are roughly 10X BTC. Eth is the true leader of the community and is under-valued. Ethereum was hacked and hardforked once and then some idiot developer lost hundred of millions worth more in a multisig coding error, with some calling for a second hard fork to “fix” it. That’s some solid blockchain development and efficiency there. Is that $2 million they donated to prevent future fubars? You are correct in that the Ethereum network is fantastic at facilitating untold numbers of CryptoKitties transactions. World’s most advanced smart contract platform for purchasing, wait, what? Glorified gifs? Oh and the lead developer Vitalik defends pedophilia and child porn. And he’s buddy buddy with Putin. Totally legit personas there. Community leaders. You can’t make this stuff up. By the way, this is the Bitcoin forum. Alts have their own speculation forum. OP wasn’t asking for alt advice he was speculating on Bitcoin timing. |
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I was one of the fools who bought in December... December 2013. The price had run up from $100 to over $1000 in just a couple months. I sure felt like a bag holder as Mt Gox collapsed and took the price with it all the way down to the $200s. Took a few years but I’ve still made 10x off those $1000 “bag-holders”. And just think about the ones I managed to scoop up in the $200s from my pit of despair as the price continued to decline in the year to follow.  Good thing I never SODL! Dollar cost averaged my way all the way down and back up again over the years. There was a period of time in there I even forgot all about my Bitcoin. Until it hit the news again. Patience, young Jedis... BTFD! And come back in 2020. |
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Funny thing about boats is they rise and fall with the waves and the tide. And get rekt or propelled by the occasional rogue wave or tsunami.
There is almost always another chance to buy in if you’re patient and observant enough. This goes for nearly every market.
Dollar cost averaging is key. Only trade if you’re obsessive compulsive. Or want to be.
This game is played in years. Sit back. Relax. Enjoy the show.
Don’t quit your day job.
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Just curious. I'm hoping (and I'll use the word hope, because who really knows?) for at least 500% on btc and 1500% on eth.
What about yours?
And this is your problem. Your mindset and expectations are all wrong. You should be happy if btc gained you 8-10% for the year. Exactly this. I’d really like to see volatility stabilize this year. |
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Altcoins Shitcoins be like:  |
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@_Kevin_Pham
32m32 minutes ago
Bitcoin started the hard fork trend, soon the world will follow.
Cities/States will secede from the US so they can follow protocol rules that suit their local the best.
This will result in governance experimentation, competition, and evolution at pace never seen before.
0 replies 4 retweets 27 likes
decentralize it all Tribal rejuvenation! Only this time round, we have access to all the other tribes best practices. Systems are evolving faster than bureaucracies and regulators can possibly cope. Centralized knowledge with decentralized power. The world has never seen this before. |
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Then ‘They Tax You’, rather. |
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You're not a true HODLer until you've been branded by the valley of -50% returns at least once.  word Over 4 years of hodling and I’m not a hodler?? WTF!!!! Ok you get a special brand. Which cheek do you prefer? |
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You're not a true HODLer until you've been branded by the valley of -50% returns at least once. word It's less than 30 days ago since it was below $10000. A few months in a $10000 to $20000 range would be healthy for the long term price. Nothing can keep doubling in price every two weeks forever. Gains like that are unsustainable. Yep. 29 days since the last $10k doubling floor was established, if we don't breach it. From $5k to $10k was only 50 days, floor to floor. We still have until mid January for the $20k floor to be on pace with the previous doubling. I wouldn't complain if it took 70 or 90 days instead. Still looks healthy to me.  |
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Well, same pattern as 2013 after gox. Could take some time to recover. Or it will never do because we have too many alts.
Sorry guys, I am depressed. It feels sad when you hold for years and such things happen. After every dip it's this feeling. But this time it feels a bit different.
Yep, that's the "Fear" stage   So it will get worse soon  Agreed. I would even say we are still at Take off. Institutional Investors are only now just thinking about jumping in; very few actually have. The Public is only now becoming Aware--the vast majority have not inhaled. For us long time HODLers looks like we'll finish off the year with Bitcoin up only 1200% instead of 1800% from the ATH, and Litecoin up only 4600% instead of 8000%. Sigh. Better luck next year?  For any bag-HODLers who bought at the ATH, don't despair. You're not a true HODLer until you've been branded by the valley of -50% returns at least once. |
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