(read the whole story before commenting)

So you've been looking at the chart for a while and you're pretty sure a drop is in the cards. However, you're pretty confident that the drop wont be that bad because bitcoin is bigger, has grown, is much more mature, is the future, and wall street is eyeing it, etc. So, come the day the drop begins: Here's how it will go down.

You're going to be looking for a slow drop with lots of bounces at key levels with high volume. It's not going to happen the way you expected. There is going to be less volume than you expected, or the seller is going to be more aggressive than you expected, or the exchanges will be failing. There's going to be lots of fresh FUD too. It's going to go down a lot harder or longer than you expected. Perhaps it even passes the obvious 8K level and goes down to 5.5K or below. Maybe it wont. Either way, you are going to PANIC.

You are going to look at the chart, and think: 'Oh my god, look at all that black space below the chart that isn't filled in, we've broken this curve, is THAT where we're going?? When is this going to stop? What if it doesn't? What is guaranteeing that someone is really going to stop it? What if 10,000,000 coins are left to be dumped?' Everything you think you knew about bitcoin will fall apart. Your confidence will be shot. At this point you're frantically counting the money you have left and just want to get out. You offer a god a sacrifice if he allows just one little bounce for you to get out or make your last trade and keeps the exchanges open for your withdrawal.

You start making some shitty trades. Maybe you make one good trade with a 10% gain. That's it. Then you buy and then immediately sell for a 2% gain, no gain, or even a loss.  Finally you sell somewhere within 10% of the bottom, and then immediately it bounces. The bounce is huge.

It bounces 20-50% in the first 15 minutes. It bounces so hard and fast you never have a chance to get in. You pray to the aforementioned god for any kind of aftershock for you to get back in. The god is sitting there confused now. The aftershock either doesn't happen or you miss it. You never get in. You sit there full fiat as it goes up and up and up. You're thinking 'No idiots! What are you doing? How can you buy at such a ridiculous price? Dont you know bitcoin is dead now? Didnt you just see it die???'. Soon it's back up all the way within the vicinity of ATH, and you're still full fiat. Your last hope is resistance from ATH levels.

If you want, you can rebuy 1/3 of the coins you sold, but this is not acceptable. So you become a hardcore permabear and join a bear club with Proudhon and roach. Every day you remind the forum of how bitcoin is a ponzi scam and is going to die at any minute.

A website affecting bitcoin prices? Sure, anything but bitcoin being overbought.

If 10% is a "crash", then what are all the noobs going to think of and call our normal 70% dips - the great depression?

Some whales are trying to pump bitcoin on youtube now.

good God get off your high bulls and pay some respect to Karhu

I just don't get how something at an all time peak can be a "bottom". it's not physically possible

low? you must have the chart upside down. it's up 1400% in the last year since it broke ath, 10,000% in 2 years. It's still at this ridiculous enormous peak. I don't you know what you mean by low. Are you zoomed into 1 minute?

But what date in the future is bitcoin the future and what price will it be? Lets say in 10-20 years it will be $1M and will be the dominant currency. 15 years is actually a short amount of time for so many public systems to be changed - look how long it took grandma to adopt the internet or use a credit card. Is the current trajectory sustainable? No. At the current rate it would reach that level in only 1-2 years. It is going way too fast and needs to pull back and have retracements.

It would never come to my mind to even use a hardware wallet. It seems like an unncessary excess. A bitcoin wallet is just a private key which consists of ~50 digits. Just write it down, remember it, or some combination of these. A hardware wallet just exposes you to more liability - what if the device is lost, stolen, fried, stops working, is hacked like this, etc. How do you even know the manufacturer doesn't have their own back doors for law enforcement or one day they wont just decide to take everyone's coins.

Coinbase is one of the main gears in the fiat super highway machine revovling around the winklevoss twins which lead to this entire trader/investor based rally. With this machine of coinbase, gdax, gemini, gbtc, the winklevoss twins, the futures market, bitstamp, and services like bitpay, as well as cooperation of banks and governments, 99% of today's investors would not be in. They are on only due to the liquidity and ease of investing and promising of large gains which can easily sold. None of them know anything about bitcoin or would be buying it on the street or even know what to do with it if they bought it on the street. As of now bitcoin is seen by most as more like the next big thing on wall street rather than the next big thing in technology. It's just another cog in the wall street wheel now. The machine is very centralized and could be taken down easily, leaving btc to have to dig its way back up from $2K or so.

Lots of posters are accused of talking their book, but how do you know they haven't actually reached the next level and are playing poker with you where they're actually talking the opposite of their book because they know you think they're talking their book?

Yay my first ignore. Isn't the word for someone who ignores people or things "ignorant"?

Is everyone ready with two mortgages on their house and maximum leverage?

It is inevitableableableablable.  I was thinking of something along the lines of within the next month.

Of all trades to make, why would I want to SHORT bitcoin? I have givven a dozen speeches on how stupid and risky shorting it is because you have to take a loan and have limited gain and infinite losses. Even IF my target of $8,000 is reached, that would only be a 40% gain for me and it would take days or weeks. There are dozens of other things going on right now where I can make 100% or 200% gain in hours. I am in the US and do not even know how to short bitcoin. The last time I shorted bitcoin was on Bitfinex in the dec 2013 crash.

I didnt know my messages were trying very hard to be subliminal.

So are we in the S curve and reaching mass adoption right now? Did the underlying adoption increase 10,000% in the past 2 years and is about to increase another 1000%?

Maybe this move right now is just going to be a straight shot to ATH by tomorrow?

Under 10,000 at some point is a certaintly.

My apologies. I've failed to recognize how the chart has clearly turned bull. That's why everything is negative. We should reach the new ATH by when, next Wednesday?

This is a total market depth chart. It doesn't really matter which one of those timeframes is selected, I dont know what it does, and it's not the same timeframe as the price chart.