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More people selling than buying and to many people "hoping" it will go back up.
It won't go up until it has gone down so far that the vast majority of people have sold out and these forums are filled with utter despair. Have a look at the wall observer thread from August 14 to March 15 for how depressed everyone has to get.
Then and only then can it start to recover. Hope is the enemy, as long as people are "hoping it recovers" it will fall.
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 Well theres basically two possibilities here and the blue line would be the extent of "going back into bull mode" Confirmed , but someone will still try to claim that we're not rhyming with 2014. Half the time this board feels like a collection of 1990 Go West fans. |
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Rangebound now til mid April then the downward slide to 2-2.5k in October/November can resume. 2014 repeat continues.
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I dont see any blood yet. Still a bunch of bulls and fancy new lambos
FUD spotted Facts you dislike are still facts, there is nowhere near enough despair yet for this to be the bottom. |
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Strangely very little noise about tether now ?? Yeah, way to quiet.. That guy on Twitter, who was making all the noise about Tether, was shut down AFAIK. No bitfinex'd is still going strong on Twitter - problem is they have no actual, you know, evidence. |
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Hardware is paid once up front, not per guess, and electricity is free in certain places.
I don't really see that as different to buying say 10,000 scratch cards in one go. The major difference is that your scratch card's odds of winning don't change (mainly for the worse) every 2016 guesses. |
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Indeed. Now I need to go away and think about what that might mean in crypto. What if miners had to pay a fee to mine but that was their entry ticket to a prize pool? What does that mean in game theory terms?
Miners do pay a fee to mine, hardware cost and electricity cost. |
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Well IANAL, but the fact that a contract is a scam doesn't mean it can't be a security. Or does it? The easy way for them to get out of this is for them to describe the contracts as leases, which are by definition not securities, but they didn't, so idiots. |
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Man, the more I think about it, if I was that Gox trustee motherfucker, I'd be god dammed careful exactly who was cooking my puffer fish if you know what I mean.
Well you definitely wouldn't want to be living in the UK, asking to get poisoned. |
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Sell it all be the weak hand, or stop looking and come back in four years.
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The 2014 rhyme continues , back to 6-7k now again then a slow climb to 11-12 one final time where break out fails and the long slow slide to 2-2.5k at year end can finally begin. Get this price down so we can get these gox coins at decent prices and then ride the 100k train in 2021.
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Just remember that in early 14 the consensus was that it would never go below the flash $380ish bottom of late December 13, (proportionally to the recent high roughly $6000 today). We went below it in April 14 and it was broken properly in 3Q14 eventually hitting a bottom at $160ish (2.5k proportionally to the recent high) and didn't get back above it until 2016 rolled in.
Never say never.
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So we continue the rhyming with 2014. Let's hope Masterluc is right and we can avoid the prolonged bear market.
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So, when are we going to hit $1,000,000?
BTC will be $1,000,000 at about the same time that a loaf of Wonder Bread costs $50.00. Which may be sooner than we all think.. That or we see John McAfee do something he claims he's not going to do by a certain year. or craig wright is satoshi and on jan 1st 2020 has access to that blind trust with billions of bitcoin in it ..(as last man of the satoshi group alive) and he dumps it all just to burn us all.....(this is how life usually works in the bitcoin universe ...weird as f*ck) And then once they are all sold and the coins redistributed amongst many the price will recover and advance past wherever it was before the sale as that threat is now gone forever and cannot be repeated. |
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And the most ridiculous part of the last few days ? If you own the allegedly manipulated scamcoin tether then you've outperformed everything else. Rational markets eh.....
In theory tether is pegged very close to the dollar. It has been flat the last year while most coins are still up 300-1000% Quite, but isn't the whole point of this latest round of FUD that Tether is an unbacked scam and therefore not really worth $1 or tethered at all. If the price is stable close to $1 then maybe it's not a scam and all this is just made up shite and not even FUD |
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And the most ridiculous part of the last few days ? If you own the allegedly manipulated scamcoin tether then you've outperformed everything else. Rational markets eh.....
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...before going back into bear mode and closing the year around $2.5k...
This prediction is extremely unlikely in my opinion. Many long-term holders, who took profits during November/December are going to buy back way before that number. Besides, institutional money will hop in way before that. 2.5k / BTC would be below the break-even point for most miners... Too many people are directly incentivized to prevent BTC from falling to 2.5k. I go out on a limb here and will say that we will never see 2.5k again. I will be buying BTC with all my remaining fiat money way before 2.5k myself. Hope you are right, but an awful lot of people told me in 2/14 that we would never see $200 bitcoins again. |
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So if we rhyme with 2014 we go to $7k in next two weeks, have a quick rally to 11.5-12k before going back into bear mode and closing the year around $2.5k, from there recovery can begin with potential for New ATH in late 2020. Same multiple increase from 1/15 low to 12/17 high. Would give us a circa $320k high in 12/21 (EDIT). See you all in three years.
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This is reminding me of the $800 phase in early 2014. I'd prefer a violent plunge to rip everyone's baby blue panties to shreds and then we can get down to business.
I think we've pretty much hit the bottom. For those who bought at 18k, expecting to get rich quick, a drop to 9k is more than enough shock to shake those people off. Transaction costs are also no longer an issue, and speed is up. FUD is down too, since South Korea just added some regulations. We just had over 50% correction. A larger correction makes no sense since the run-up was nowhere near as sudden as back in 2013. Just scooped up some more BTCs near 10k. Have a bit left in reserve to buy if it drops to ~8k. I see more and more bullish articles on google news : samsung starting to create ASIC hardware, lightning network newcomers (just look at google trend https://trends.google.com/trends/explore?q=lightning%20network ), the guy who was robbed and forced to give his bitcoins (feel sorry for him but maybe the average dude will see this and think "oh so that bitcoin thing is actually valuable"), etc... I don't see why the price would continue to drop. Plus, mluc called bottom at 9k max and then an increase to 40k-110k by the end of 2018 so, hey. Hodl. What about all the Tether fud?? And why no response of any kind from Tether? even a bullshit response like we have hired new auditors etc EDIT: Havnt read it yet but -- https://tether.to/wp-content/uploads/2017/09/Final-Tether-Consulting-Report-9-15-17_Redacted.pdfBecause this is the sort of bullshit conspiracy put together by people who can't get their head around what the consequences of leveraged shorting of BTC on bitfinex would be on tether. Think about it a bit, now what's been happening over the last few weeks do you think? Bear in mind anyone with a USD balance on bitfinex actually has a tether balance, so if they make profits via leveraged trades they create tether. |
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Yay kwuks back , that must mean we're nearer the bottom than I thought
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