[2019-01-21]Bitcoin Price Likely to Drop to $2,400 & Lure Wall St. to Purchase t

[Vladdirescu87]

Bitcoin Price Likely to Drop to $2,400 & Lure Wall St. to Purchase the Plunge

In the latest Bitcoin (BTC) versus Silver (SLV) analogue piece, remarkable similarities can be seen in the charts. Trying to puzzle out the time frame of the consolidation point is very crucial. In Silver, the consolidation period timing was more than 90 days, nevertheless, the 500% rally also took around 30 months. In Bitcoin, the 500% rally took around 9 months.

Therefore, the consolidation time in BTC is around 30 days rather than 90. Any hint as to when the next action happens is decisive as far as trading Bitcoin Derivatives is concerned since timing is everything!

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/bitcoin-price-likely-to-drop-to-2400-lure-wall-st/

[buwaytress]

That's a bit new to me, using silver instead of the usual gold. Just got to mix things up, don't we? But the level of ridiculousness keeps getting better. If Bitcoin does the same thing silver does in less than a third of the time, then are we going to see Bitcoin reach where silver is in a few hundred years instead of millennia? I totally get comparisons and the need to validate but this is a bit too rich. Bitcoin price going down may very well happen but to lure rich whales? What, $200 wasn't enough to lure them after Mt Gox?

[btyco]

They all know that the all time high was $20000 so any price around now should be alluring enough. Altcoins are even more of a bargain with 90% drops so those are worth a punt as well

[1Referee]

Anyone believing that wall street is waiting for the price to tank in order to enter is delusional. They have been in longer than most of the people here, so don't believe in fairytales.

Altcoins are even more of a bargain with 90% drops so those are worth a punt as well

90% down from highs doesn't matter in crypto, especially when most altcoins tend to go down +95%, so there could very well be another 50% to be taken off their current "extremely low" prices. But then again, buying coins having gone down 90% is 1000x better than buying them near their peak levels. If you can swallow a short term paper hit, you can always take the gamble.

[arnelandvik]

The fall in price is very rapid, and it's very depressing

[Kakmakr]

A lot of people are grabbing at straws with most of their predictions and conspiracy theories. The history has shown that formal traders have been buying bitcoins for years, but they are not making that public. People working at the JPMorgan Chase were even warned to stop investing in Bitcoin, if they wanted to keep their jobs.

Jamie Dimon, chairman and CEO of JPMorgan Chase even revealed that his own daughter was buying and selling bitcoins at the time when he was very outspoken against the technology. 

They own some Crypto currencies in their portfolio, but they are too scared to announce it. 

[BitHodler]

They own some Crypto currencies in their portfolio, but they are too scared to announce it. 

It's just the way they play the game, hasn't much to do with being scared. The longer they manage to obfuscate their presence in the market, the more people believe that institutions will be coming at one point.

Overall, institutions have never been very open when it comes to high potential but still very speculative investments, because one tiny spark translates into a fomo run, and we have seen that back in 2017s ICO bubble.

As for the $2400 "wall street target", that's just nonsense. Crypto is a thinly traded retail market that can explode at any random moment, so waiting for certain levels could mean missing out on a great buying opportunity....

[Slow death]

Bitcoin Price Likely to Drop to $2,400 & Lure Wall St. to Purchase the Plunge

if the price drops to $2400, then it will say: "when the price falls to  $1000 wall street will enter the market" and if the price falls to  $1000, they will say the something... like those price forecasts that always fail. It's becoming very tiring these predictions, it's just driving people away from the crypto world. the price is $3500 and if we compare with the past were the price was $1000, $500 and $100 we can say that the price of $3500 is very high, if we compare with the price of $ 20,000 we say that the price ais very low. The point is that we are comparing with the price of $ 20,000 and I saw this:

Cboe Exchange Withdraws Proposal for VanEck-SolidX Bitcoin ETF

with this we will see a year without great expectations