Why Bitcoin Price May Take 700 Days To Rally Back To $20,000

[Capt00]

I dunno if that article or just a statement stating the truth or just saying by the author's opinion. However, still the market is unpredictable and I think that is a long time to wait. I noticed that the author was trying to publish that article and to have a traffic on the website that the author was created which is all statement is unsustainable.

Let's wait the market recover itself and the prediction as what OP stated to wait is impossible in Bitcoin.

[Bizard]

I read a lot of articles and in some of them some people expected a big reversal to 10 thousand for this new year, and then growth but very weak and so the whole year.

[bitcoinfuck]

[Bttzed03]

Things are different now. From what I have learned last year, Bitcoin can quickly change in price in a matter of days, weeks, or months. I don't think it would even take two years to reach the $20,000 level again. One year is a more acceptable period.

[guybrushthreepwood]

I'm not sure if we'll ever see the all time high again and possibly anywhere near it. That was pumped up by pure excitement and naive newbies coming in at an alarming pace and they'll all be very weary this time if the price starts to rally again. Late last year there were people wondering if the rally will ever stop and keep going to millions and that's what fueled it as outsiders couldn't resist the opportunity to make some easy money. Now the question that will be asked is "when is the bubble going to pop again" and that will cause both a slower growth and a faster downfall when people panic that the bubble is bursting.

700 days is just 30 days less than 2 years for the price of bitcoin to reach $20,000 again. You know that this year is the year where almost every prediction about bitcoin fail, whether its good news or bad news. The article above will be another prediction that might fail. This year makes bitcoin more and more unpredictable.

A prediction is just that -- a prediction. Nobody knows what bitcoin is going to be worth tomorrow nevermind years from now and any guess is -- by definition -- pure speculation based on guesswork. Bitcoin could be worth zero within two years. It could be worth tens of thousands. I'd say it's going to be somewhere in between  , but of course, that's just my speculation. I still have hope for bitcoin but I think most people -- especially new investors -- are just going to be too apprehensive and weary that it's going to burst and that's what's going to keep the price down.

[maser82]

Is it correct to assume that when mtgox users get their refund next summer and sell their bitcoins, then the price of bitcoin could get its biggest drop in its history?

[arpon11]

The article examines some factors that have lead to the previous rally and see if we can compare and look for similar signs to help us identify the next jump.

Read: https://coinlu.com/bitcoin-price-rally/


Thoughts? 

This is very serious and it then means we have to prepare for 2020 then!  I have said in one of the post I made some weeks back that 2019 is a year to watch by and what happened in 2019 is what is going to determine the next bull run.  We may have short term bullish trend along the way but the serious one may be in 2020. Last year is a year that we would live to remember and 2020 is going to be another years that we would remember in the history of cryptocurrencies.

I read a lot of articles and in some of them some people expected a big reversal to 10 thousand for this new year, and then growth but very weak and so the whole year.

With what happens today ,bitcoin may not get to $10,000  this year again.  The dump is really and it might even fall further.
Now we are praying for bitcoin to get to were it is in some days back as it has lost above $500 today alone and it has not stopped.

[bitcoin31]

We don't know what is the next happen to bitcoin when it will increase again the value of it.

[Shinpako09]

Actually, there is no required number of days before we're going to have a rally. Rally could happen anytime unexpectedly. It may take longer or in a shorter time depends in supply, demand, hype, etc. One thing is for sure, no one exactly knows when we're going to have a bear and bull run no matter who they are and what position they have.

[South Park]

So the reason why the author said it may take 700 days is because it took 700 days the last time? My thought is that it's incredible how they were able to make an article out of this when I was able to sum everything up in one sentence. Very few details are actually needed to get this across lmao.

But yeah, no matter how unreliable this is, precedents are all we have right now. We'll see if the market behaves the same way this time around.

That is how it is most of the time, if news sites were honest about the information that they were transmitting they could probably be able to communicate the most important aspects of a news in just a few sentences, but they need to write a whole article and in some cases they even create a whole video because they want the traffic and the money that comes with.