Majormax
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Activity: 2534
Merit: 1128
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O.k. We read differently, and I don't concede that a previous pattern implies the next pattern either in duration nor in intensity... especially when the way up was different in this 2017 one, too. In other words, you cannot just begin from the downward point, you have to consider both the upwards slope that got to the top and the downward slope, not just one side of it.
All charts are hidsight of course. IMO their main usefulness is in telling us why/how a particular price move happened. My own methodology starts with the premise that a Bear Market has a job to do. That job is to shake out the weak hands. The higher the previous rise, the harder the job will be ,hence the use of % retracements etc (which are flawed anyway). How the weak hands are shaken out is a combination of circumstance. The BCH/SV debacle is merely one of those random circumstances : the fall was due anyway. In fact, better to get it over with, deep , sharp and quick. Slow attrition is harder to recover from. In BTC terms this is not a crash. $2000 next week is a crash. So I kind of agree with you, the jury is still out . They never really reach a verdict until its all over. |
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bitserve
Legendary
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Activity: 1652
Merit: 1345
Self made HODLER ✓
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November 20, 2018, 09:43:53 AM |
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Just read on Reddit that this drop could be Due to Craig and Johan hash war.
Those two Bitcoin billionaires and scolding their BTC to fund their hashwar.
The hashwar is costing only around $1 million daily. That's not the reason. CSW/Calvin selling/shorting the market while they make every effort to spread chaos maybe is. |
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somac.
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November 20, 2018, 09:49:34 AM |
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no follow through on this little pullback and no volume, prepare for lower prices
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lightfoot
Legendary
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Activity: 2996
Merit: 2182
I fix broken miners. And make holes in teeth :-)
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November 20, 2018, 09:50:52 AM |
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Crazy week, no doubt. Definitely picked the wrong week to stop sniffing glue.
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SidETH
Member
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Activity: 116
Merit: 20
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November 20, 2018, 09:51:07 AM |
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I'm now happy that I've already lost 80% of my portfolios value. Can't really seem to bother anymore about losing another 5% or so. I have about 25 years to go untill my desired retirement kicks in. Time is on my side.
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LFC_Bitcoin
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Activity: 3108
Merit: 7918
#1 VIP Crypto Casino
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November 20, 2018, 09:54:52 AM |
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It's interesting how even long timers forget how this market works. This is nothing out of the ordinary, just annoying.
Alright, you know what, fuck it. I might sound bipolar as fuck but I’m going to the bank now to move cash in so I can buy. That's the spirit. Buy dat dip!!!!!! GET our BTC price going back up. I bought some at $45xx-ish and $43xx-ish.. hoping that I am done buying for a bit, but who the fuck knows? And about 2021 are you thinking about selling early 2021, mid-2021 or late 2021? or do you have flexibility beyond 2021? Just wondering? 2021 was just a guess of mine for when we might see a huge increase in price. I was just going off the pattern we usually see post halving. The next halving is mid 2020 so I’m thinking/hoping we’ll see a new ATH as previously 6-12 months after the halving. I make good fiat in my life, I have my own business that earns me a good salary so this is not going to kill me. My hope is that bitcoin makes me a multimillionaire post halving. I’m waiting for $40,000 - $50,000 per coin then I’ll sell about half. I can wait until 2022 & onwards but mid 2021 (ish) is my dream scenario. |
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wayna
Jr. Member
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Activity: 103
Merit: 3
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November 20, 2018, 09:57:08 AM |
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So... which price will be the bottom?
Interestingly, it's almost like at the BTC/BCH fork happened more than 1 year ago.
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fragout
Legendary
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Activity: 1278
Merit: 1018
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November 20, 2018, 09:59:48 AM |
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At this rate of -$1k a week , we only have 4 weeks at most to the bottom @ $300. In other words the real bottom is close. $3k, $1300, $1k. I dont see a long sideways action when we hit it though and expect a relatively quick climb to $6k again. Perhaps sideways will resume there for a while though
Reason for the collapse are unknown unlike previous years but it was certainly triggered by the bcash debacle which reinforces the idea that this event is being used to force the price down
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El duderino_
Legendary
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Activity: 2100
Merit: 10086
BTC + Crossfit, living life.
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November 20, 2018, 10:01:34 AM |
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Crazy week, no doubt. Definitely picked the wrong week to stop sniffing glue.
then get back on it for a few weeks-months absolutly no real advice of Micg. never sniff that trash  |
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Elwar
Legendary
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Activity: 3598
Merit: 2384
Viva Ut Vivas
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November 20, 2018, 10:03:55 AM |
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Scary thing is...the last dip dropped below the previous ATH.
The previous ATH in this case is $1200.
Ironically enough I got like 6 job offer e-mails in a row yesterday. Looks like it's time to go back to work.
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TeeBone
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November 20, 2018, 10:04:34 AM |
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So... which price will be the bottom?
Interestingly, it's almost like at the BTC/BCH fork happened more than 1 year ago.
If i were just starting out, i'd dollar cost average. 4.5-3K. I'd be astonished if it got below 2K, set aside dry powder just in case. |
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El duderino_
Legendary
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Activity: 2100
Merit: 10086
BTC + Crossfit, living life.
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November 20, 2018, 10:09:01 AM |
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Are we literally going to $0
How did you turn from Bull #1 to Bear #1 in just #1 day?  I’m sitting on a big stash of coins worrying  i guess there are a few in here with the same situation..... and many many more wishing to be in that situation (of hodling a nice amount of stash) so MAN UP  i know you are not that guy ....^ |
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LFC_Bitcoin
Legendary
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Activity: 3108
Merit: 7918
#1 VIP Crypto Casino
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Are we literally going to $0
How did you turn from Bull #1 to Bear #1 in just #1 day? I’m sitting on a big stash of coins worrying i guess there are a few in here with the same situation..... and many many more wishing to be in that situation (of hodling a nice amount of stash) so MAN UP i know you are not that guy ....^ I’m not going anywhere mic, I’m standing my ground here. Actually going to buy £500 worth in a bit. My gf said I should buy £500 a week again until we hit £10,000. What do you think? I guess we have to add to our stash whilst this happens. Make the best of a bad situation. I do have moments of panic & worry - sorry  |
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d_eddie
Legendary
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Activity: 2072
Merit: 2255
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November 20, 2018, 10:16:16 AM |
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(Dear Lord... I feel like I turned into JJG)
Good job. Imitation (even if subconsciously) is one of the greatest forms of flattery... (Dear Lord... I feel like I turned into JJG)
Get the fuck out of here with this apparent pretense of being using some kind of self-defined wordy prose just to be able to claim any kind of pretense at being in the vicinity JJG-ness within 63.5-72.2%. Even using numbers and probability. Tsk. At minimum, he must have been in the JJG wall of text ballpark of inspiring peeps not to read it. Imitation is the sincerest form of flattery after all. And sometimes, size doesn't matter  |
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El duderino_
Legendary
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Activity: 2100
Merit: 10086
BTC + Crossfit, living life.
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November 20, 2018, 10:20:41 AM |
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Are we literally going to $0
How did you turn from Bull #1 to Bear #1 in just #1 day? I’m sitting on a big stash of coins worrying i guess there are a few in here with the same situation..... and many many more wishing to be in that situation (of hodling a nice amount of stash) so MAN UP i know you are not that guy ....^ I’m not going anywhere mic, I’m standing my ground here. Actually going to buy £500 worth in a bit. My gf said I should buy £500 a week again until we hit £10,000. What do you think? I guess we have to add to our stash whilst this happens. Make the best of a bad situation. I do have moments of panic & worry - sorry i say its time for THE BIG WO to set an exampleand when we are all talking about hodling and longterm perspectives..... then its time to  and i can isure this thread that i'm sitting on a reasonable stash of coinery as well and i will WALK that WALK that is needed and good LFC your girl is talking sense you better WALK it through how she says  |
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El duderino_
Legendary
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Activity: 2100
Merit: 10086
BTC + Crossfit, living life.
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November 20, 2018, 10:21:48 AM |
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BTW sorry guy's its that moment of the day that the wall observer gets it MICg injection of yeah just post of ....... just post  |
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El duderino_
Legendary
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Activity: 2100
Merit: 10086
BTC + Crossfit, living life.
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November 20, 2018, 10:23:45 AM |
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Just read on Reddit that this drop could be Due to Craig and Johan hash war.
Those two Bitcoin billionaires and scolding their BTC to fund their hashwar.
let them next step is those millionaires trying to FUND but aren't strong enough..... to change shit cause there are new btc-billionaires that bought there cheap coins |
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Globb0
Legendary
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Activity: 2660
Merit: 2029
Free spirit
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BTC performs healthy retrace its cool  |
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Yaplatu
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November 20, 2018, 10:28:25 AM |
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lightfoot
Legendary
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Activity: 2996
Merit: 2182
I fix broken miners. And make holes in teeth :-)
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November 20, 2018, 10:31:31 AM |
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Crazy week, no doubt. Definitely picked the wrong week to stop sniffing glue.
then get back on it for a few weeks-months Eh, this is just a really screwed up month. Going to be hell for bitcoin ATM operators, the things will be stuffed so full of worthless fiat as people buy the fucking dip.... But a good chance to pick up some coins and replenish the supply. Hm..... |
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