|
why is there resistance at $4k? is it just because its a round number, psychological barrier or is there something else? I don't remember much going on at $4k when the price fell from $6k to $3100? I would think if anything, resistance would be at $6k where most people thought the bottom and was at for several months. what am i missing?
|
|
|
|
|
dont forget about how important miners are. there is a point of no return at a price point where the majority of the miners shut off their machines or leave the chain, and mine another more profitable coin. one of the most significant/important attributes of bitcoin is how secure the network is and at prolonged low prices or continual dropping prices the hash power also decreases. yes difficulty adjusts etc but miners can only mine for so long at break even or a loss. miners cant wait four years for every bull run to pay the bills. price needs to go up soon.
|
|
|
|
|
ask yourself this question.:
If bitcoin went up to $20k in the next week would you be happy or sad?
Obviously the more btc the better, but would you be happy with the amount of btc you are hodling right now and you could say to yourself I have enough and I am good with it?
Or would you be sad and regret that you don't have more than you do because you were trying to time the bottom to buy more?
I suggest setting a goal in terms of an amount of btc rather than buying at a certain price. Some have a goal of one btc. If they get to that goal they can live with whatever is thrown at them. If the price spikes $10k they are good because they made their goal and they have enough, if the price crashes to $1000 they say I have enough Im not putting anymore in or they can always add to their position. win win for long term imo
|
|
|
|
|
Bottom is in
all previous bitcoin bubble lows were 20% (give or take a few %) of the bubble peak price.
$36 high, low was then $5.
$1200 high, lows were around $200.
$20k lows are around $4k now.
Here is one take on the bitcoin bottom I thought about:
I think there is either a price or an amount of bitcoins that the whales dont want to go below. for example if a whale can control or heavily influence price in their favor on bitstamp with 20000 btc at the price of $3500 I am sure that he would want to keep those proportions for perpetuity. So if the price goes up $500 maybe the number of bitcoin would come down to 19000 and if the Price goes down $500 they would need 21000 btc to keep their control etc etc. They are not going to give up their power so unless they are cashing out and done, they will not let the price go to a point where they lose control of their influence. What I am getting at is when the price goes lower they need more coins to keep their power. They get weaker when the price goes below a certain threshold and other deep pockets can acquire cheap bitcoins and maybe eventually lessen the whale power or even overtake them. Think about it. If you are a whale you are the heavyweight champion. you are not going to give up your title, especially by giving away coins at cheap prices unless you are getting out of the game and dont care anymore(fat and satisfied). Too early for this to happen. its only been 10 years.
|
|
|
|
|
wash rinse repeat by the whales. been watching this same scenario for years now. there never has been any liquidity and there never will be on the current trading markets. the only way this stops is if there is someone with deep pockets willing to step up and buy these dumps and force whoever is selling to have buy back at higher prices the next time. wall street has market makers who are willing to risk their own capital to buy stocks for example when there are no buyers or sell shares short when there are no sellers if there is a severe imbalance to keep the markets orderly. Currently whales are uncontested and they know this. Now if they are put on a platform like bakkt and have to trade against institutions they have no chance and I think that will be the game changer, but right now on bitstamp and bitfinex they rule with absolute power, but in time I think this will come to an end. The writing is on the wall and bitfinex and bitstamp will not be where the price of bitcoin will be determined imo. There will be larger more liquid and secure entities that will trade billions each day and would be impossible to ignore. its just a matter of time.
|
|
|
|
Thank you for the overwhelming response.  |
|
|
|
|
Please pm me with your price. Graded or ungraded.
Thank you!
|
|
|
|
|
i regret that i am hodling btc instead of ltc. ltc up 65% this month. ltc has taken btc behind the woodshed.
|
|
|
|
reviving a bit this thread after the crypto winter hibernation(or are we still in it?). my plan is continuing. I've saved a total of 1.53 BTC plus approx. 1.10 BTC in altcoins. is it imbalanced? my opinion is that between the end of 2020 start of 2021 and 2024 Bitcoin will reach very high prices
Nice going. Looks like your plan is working out well:) What i wanted to ask you is when we moon do ypu have an exit strategy? |
|
|
|
|
some here are saying that wall street institutions will not buy any bitcoin is crazy talk. i agree they will make more trading futures or derivitives etc. but to say they will not take an actual position in digital btc is asinine. goto finance.yahoo.com. pick out a garbage stock that is trading on the nasdaq or nyse, click on the "major holders" and you will see at least one major institution has a position in it. So to say that wall street will not buy and hold btc is ridiculous. They take positions in everything just to have a position, regardless if its a sure thing or is a million to one long shot. Money is no object. Only time will tell how many they actually hold, but I dont think this will ever come to light until their bags are full.
|
|
|
|
i am as happy as a lark that bitcoin went up 10% today take it for what its worth. 10% up is a huge day for btc. big day for the bulls |
|
|
|
Right now as we speak, if you own any amount of bitcoin and plan on hodling and not selling anytime soon, chances are you will be financially set not this coming halving but the following one. One btc will be enough imo.  |
|
|
|
litecoin is eating bitcoins lunch.  |
|
|
|
For two months the price stayed in an uncharacteristicaly stable range in the mid $6ks, before the price was very quickly crashed into half, down into the $3ks. Do you think this same stability has begun to form over the next couple months in the mid $3ks? if so, will price break upwards to end this stable range or downwards, as it did last November?
I think it is too early to tell if this is a consolidation phase or just a pause for the next dump. If this mid $3k's price holds for about a year or so I would consider it a safe bet that this is the bottom. But I have a feeling whales, traders etc plan on locking in another slew of bagholders in this range by giving a false feeling of stability. I have never seen a two to three month stable bitcoin price end in a pump always a dump. Just like $6k. I was even feeling pretty good about the stability in that price action, and lo and behold price gets cut in half in the blink of an eye. If the price stays in the $3k range for the next 6 months I think we are in the clear, but many of the popular ta analysts are saying we are going to the mid $2k's which at this point would not surprise me at all. |
|
|
|
|
yes it is overrated: institutions are not going to get in because they dont hold all the cards, cant be in control and would be at the mercy of existing whales determining the fate of their millions.
no is not overrated: institutions will be buying millions of dollars worth of btc at a time, as compared to up to this point,high school, college and retail have been buying only hundreds/thousands of dollars worth at a time.
just my 2c
|
|
|
|
|
Show Posts
