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Author Topic: [2017-06-23] Coming Soon: The Great Bitcoin Crash?  (Read 10243 times)
White sugar
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June 23, 2017, 08:01:53 PM
 #1

It’s insanely overbought…

The rally is unsustainable…

When it cracks, look out below…

No, I’m not talking about the stock market. I’m talking about bitcoin.

Speculators have gone totally gaga over cryptocurrencies this year. Bitcoin has tripled in value since late March. A competing cryptocurrency called ethereum has zoomed from $20 to a high of $400 in just three months. Litecoin has enjoyed similar success, jumping from $4 to $40 over the same timeframe.

These short-term gains are impressive. But the cryptocurrency bulls are starting to get cocky.

https://dailyreckoning.com/coming-soon-the-great-bitcoin-crash/

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June 23, 2017, 08:22:29 PM
 #2

Everything will be ok. Bitcoin market is still underestimate  Wink

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June 23, 2017, 08:38:43 PM
 #3

Another desperate attempt to make people click on an article.... I can agree on Bitcoin being overbought, but there is no point into exaggerating it. If we do happen to see the market take a step back, it will be a relatively normal correction, but for now I don't see any reason to why it will drop below the $2000 level. Especially not with how things are progressing with SegWit2X.
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June 24, 2017, 01:24:06 AM
 #4

There will be pull backs, but that is nothing to worry about.
If you are a long-term investor, just stay put on your bitcoins. That is what they advise about investing in equities, and Bitcoin investing is no different.


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June 24, 2017, 05:18:58 AM
 #5

I would be worried about a trend reversal (e.g. a double top) in almost any moment with similar price movements/charts but not now. For me the market is waiting for fundamental signals. The last slight uptrend is caused, in my opinion, by the expectation that Segwit could be activated soon and the capacity problems would be solved, at least for the short term.

But also my impression is that the article basically has the intention of FUDding - for example, the author mentions an "exchange" that malfunctioned but never names it, and then rants against Bitcoin exchanges in general. His claim is true, but most likely it was caused by an excessive amount of stop orders at GDAX. That can happen at every exchange with relatively low volume.

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June 24, 2017, 08:31:00 AM
 #6

This thread should be renamed to The Great Altcoin Crash? As soon as Segwit activates and we a while later finally operate larger blocks, people that have been using altcoins as hedge, will soon realize that they better exit their positions, or they will be left holding a bag of worthless coins. Overall, this article is complete junk. No original thought/analysis/information, fud'ish, amateurish, etc.

HeRetiK
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the forkings will continue until morale improves


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June 24, 2017, 08:39:54 AM
 #7

While I'm impressed with the recent Bitcoin growth, I honestly don't think it's overbought right now. Ethereum and its ICO ecosystem on the other hand...

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June 24, 2017, 03:43:25 PM
 #8

While I'm impressed with the recent Bitcoin growth, I honestly don't think it's overbought right now. Ethereum and its ICO ecosystem on the other hand...

Now, Ethereumr has a great chance to become a competitor to bitcoin. It seems to me that the government of some countries also got involved in the struggle with bitcoin. They will take control of Ethereum and will advertise it
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the forkings will continue until morale improves


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June 24, 2017, 07:41:12 PM
 #9

While I'm impressed with the recent Bitcoin growth, I honestly don't think it's overbought right now. Ethereum and its ICO ecosystem on the other hand...

Now, Ethereumr has a great chance to become a competitor to bitcoin. It seems to me that the government of some countries also got involved in the struggle with bitcoin. They will take control of Ethereum and will advertise it

Yeah... the thought of governments taking control of Ethereum isn't exactly making it much more attractive in my book. If anything they would probably simply start their own Ethereum blockchains.

freebutcaged
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June 24, 2017, 07:58:01 PM
 #10

It's a bubble alright mate but this one has tick walls supporting it, don't expect a crash any time soon, more people talk and assume we're in a bubble

More price increases, if once every one start to talk about how we're going to da moon without ever returning I'm sure price will drop down.

This bull run started from $1200 so even if we go back there from here and now still wont be considered as a crash in my book.














 

 

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d5000
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June 25, 2017, 06:12:36 AM
 #11

Now, Ethereumr has a great chance to become a competitor to bitcoin. It seems to me that the government of some countries also got involved in the struggle with bitcoin. They will take control of Ethereum and will advertise it

I don't think we're there yet. In the past weeks and months, the ETH price runup came mostly because of ICOs and then also because of dreams of a "flippening" - which failed, as it seems. So the high market cap ETH had recently was based mostly on pure speculation, not on real usage - almost all "dapps" are still alpha/beta stage - and thus we cannot still say that Ethereum has positioned as a Bitcoin competitor.

Ethereum also must solve its own scaling problems, they have already a bigger blockchain than BTC. So until "sharding" is finished, it will likely be an inferior payment solution or rely on greater centralization.

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June 26, 2017, 11:22:46 AM
 #12

Now, Ethereumr has a great chance to become a competitor to bitcoin. It seems to me that the government of some countries also got involved in the struggle with bitcoin. They will take control of Ethereum and will advertise it

I don't think we're there yet. In the past weeks and months, the ETH price runup came mostly because of ICOs and then also because of dreams of a "flippening" - which failed, as it seems. So the high market cap ETH had recently was based mostly on pure speculation, not on real usage - almost all "dapps" are still alpha/beta stage - and thus we cannot still say that Ethereum has positioned as a Bitcoin competitor.

Ethereum also must solve its own scaling problems, they have already a bigger blockchain than BTC. So until "sharding" is finished, it will likely be an inferior payment solution or rely on greater centralization.

ETH is still too early to be regarded as a competitor to bitcoin. But this possibility can not be ruled out. I see that many people use ETH, if bitcoin transactions are not confirmed. People are accustomed to cryptocurrency and are learning new types of coins. This can be bad for bitcoin

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June 26, 2017, 04:50:16 PM
 #13

Now, Ethereumr has a great chance to become a competitor to bitcoin. It seems to me that the government of some countries also got involved in the struggle with bitcoin. They will take control of Ethereum and will advertise it

I don't think we're there yet. In the past weeks and months, the ETH price runup came mostly because of ICOs and then also because of dreams of a "flippening" - which failed, as it seems. So the high market cap ETH had recently was based mostly on pure speculation, not on real usage - almost all "dapps" are still alpha/beta stage - and thus we cannot still say that Ethereum has positioned as a Bitcoin competitor.

Ethereum also must solve its own scaling problems, they have already a bigger blockchain than BTC. So until "sharding" is finished, it will likely be an inferior payment solution or rely on greater centralization.

ETH is still too early to be regarded as a competitor to bitcoin. But this possibility can not be ruled out. I see that many people use ETH, if bitcoin transactions are not confirmed. People are accustomed to cryptocurrency and are learning new types of coins. This can be bad for bitcoin

The flippening won't happen. The price of ETH is currently down. Maybe the pop has already been happening in altcoins as well. Many altcoins are going down fast. The price of bitcoin is going down. Maybe this is because of the uncertainty surrounding Aug 1. But we can't really call this a crash, because for sure a lot of big investors or even casuals will see this as opportunity to buy back bitcoin again. I know it will rebound to around $2700 and stabilizes for a few days again.

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June 26, 2017, 06:42:22 PM
 #14

The flippening won't happen.

I agree, for now (and maybe for the whole year 2017). The altcoin bubble has popped. There are only a few coins that could still see new highs, but most will crash to at most 50% of their ATH value - Ethereum included, it is already close Wink

Quote
The price of bitcoin is going down. Maybe this is because of the uncertainty surrounding Aug 1.

I think it is related to the altcoin bubble popping. The Bitcoin sellers are most probably altcoin investors selling alts to BTC and then BTC to fiat to get da hell out of tha bloodbath (TM) Wink. In contrast, thanks to Segwit2x I think the August 1 chain split is no longer an issue. So I tend to agree that the Bitcoin price will stabilize again, although we could go a bit lower still. I expect the $2200 region to be tested again these days.

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June 26, 2017, 08:38:00 PM
 #15

In contrast, thanks to Segwit2x I think the August 1 chain split is no longer an issue. So I tend to agree that the Bitcoin price will stabilize again, although we could go a bit lower still. I expect the $2200 region to be tested again these days.

SegWit2X is definitely giving people a bit more hope, but as long as SegWit isn't locked in, we haven't actually achieved anything. That's why next month, and then mainly the last week if they stretch it out that far, will be a crucial period of time. I expect the price to soar significantly at the moment activation bas become reality. It basically means that it's only a matter of months before the hard fork takes place, and we finally made an end to these destructive scaling debates.
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June 28, 2017, 01:04:01 PM
 #16

Btc from the long-term development point of view, it will not collapse, will only get better and better Tongue
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June 28, 2017, 04:15:36 PM
 #17

Someone just figure out that Bitcoin has declines after run-ups?

This isn't a new phenomenon. Bitcoin trading veterans have known this since its inception. But hey, clickbait needs sensationalist titles, doesn't it.

fortitudinem multis - catenum regit omnia
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