Bitcoin Must Crash - $7500 Is The Peak

[iv4n]

I would define crash as anything below $3,000. We are a long, long way from that. Bitcoin is already stabilizing and has refused to go below $7,000. The consensus is that we could make a move to $10k anytime soon.

IMO the price is already treading dangerous levels, it looks like it can break and crash any moment. Hopefully, the strong demand we have right now would be sustained.

Bitcoin price is falling but I wouldn't say that this is something dangerous, for me crash would be back to 1000 dollars. While price is rising people here are happy, when price start to go down fud and panic threads are instantly created.
Op was right about peak, price is going down and who have money should buy on dip. Will dip be on 6000 dollars or we will see 5000$ its not so relevant, look at that from the bright side unique chance for buying bitcoins with 20-30% discount cause price will get back to 7000 mark before new year.

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[thinair]

My question for this forum is:
What is the reason that bitcoin will consolidate soon and will surpassed $7500 towards $10,000, say at year end?

The current exponential rally started from Aug 2016 $600 - or 1 year 3 months. I now understand it to be solely because of the talks about Segwit2x. A hard fork is bitcoin money printing to be distributed ONLY to holders of bitcoin at 1:1.  ALL crypto has value. Especially free alt-coin that rides on the back of bitcoin will have a value and the reference value of B2X would be a % of BTC. What if B2X were to be valued same as BTC? - a huge bonanza.

      

The sole reason for the recent rally is free coins from a  Segwit2x hard fork.

      
There is no other reason - definitely not from ordinary small investor who would be doing buy-and-hold. If such were a powerful group, the rally could have started much earlier. Was there a rally in 2015 before talks of hard fork free coins? NO!

   There is now no more reason why bitcoin price should still go up at current levels.

   
So the only way for bitcoin is DOWN until it finds a proper floor price. It started from $600 and this should be the reference price for the actual bottom. A guess may be $1000 - $2000 in 1 or 2 years time.

At the least, wait for a month to see how things develop.

[richardsNY]

look at that from the bright side unique chance for buying bitcoins with 20-30% discount cause price will get back to 7000 mark before new year.

People here are always too late. They likely bought their coins very close to the peak levels, and for that reason aren't in a position to see it as an opportunity. If we look at the charts, there is a similar pattern visible, hinting at a correction somewhere close to the +$7000 levels we visited before the market went down. It doesn't require any actual market understanding to spot that pattern, but just common sense. At worst we'll be testing the $5000 level in the very short term, but I don't expect the market to fall that much down. My guess is a dip just under the $6000 level ($5800-$5900) where after that we will see the market go back up again.

[thinair]

look at that from the bright side unique chance for buying bitcoins with 20-30% discount cause price will get back to 7000 mark before new year.

People here are always too late. They likely bought their coins very close to the peak levels, and for that reason aren't in a position to see it as an opportunity. If we look at the charts, there is a similar pattern visible, hinting at a correction somewhere close to the +$7000 levels we visited before the market went down. It doesn't require any actual market understanding to spot that pattern, but just common sense. At worst we'll be testing the $5000 level in the very short term, but I don't expect the market to fall that much down. My guess is a dip just under the $6000 level ($5800-$5900) where after that we will see the market go back up again.

It seems you have the notion of bitcoin having an intrinsic value or "fair" price. The only price of bitcoin is the quotes from the exchanges.

I am no expert of the blockchain technology. It seems ethereum, bitcoin-cash and bitcoin all are using the same technology. So, which should be more valuable is only for the buyers and sellers. I don't see how we could tag a value of $5000 or $6000 to be the fair bottom. It seems to me the $600 reference just before the rally should be more useful.

[thinair]

12 Nov 06:00 - $5600
12 Nov 22:00 - $5680

The market tested the lows within 16 hr. The market is now at around $6350.
   

   For those who are in profit, locking in the profit is safe.
   For those who are not yet in bitcoin, at the least wait for a month.
   Wait.  

This bitcoin "investment" is only for those who in the past have been successful speculating in other financial markets like stocks, forex and futures; for such speculators, bitcoin is the next best thing after the creation of future derivatives. Bitcoin is not for those who even have lost money in stocks. If you have a track record of losing money in stocks, the chances is your lost in bitcoin would be much greater.

Those who talk about bitcoin going to $10,000 by Christmas is just fantasizing - from pure unadulterated greed.

   It is pure greed believing bitcoin will go to $10,000 by year's end.

Why should bitcoin be worth $10,000? They believe in the talks by the propaganda about how bitcoin is the currency of the future...banks and governments cannot touch bitcoin and therefore there is no way it goes but UP...
   

All time is the correct time buying into bitcoin.

But they forget that bitcoin cannot be a currency, but only as a medium of speculation.
   

Bitcoin's only worth is as a medium of speculation for transfer of wealth from the bottom 95% to the top 5%.

I will not repeat my arguments as I have already explained in my other posts that bitcoin will never bring any real economic benefits to the world.
   
Ask yourself. Have you read what a bear market rally is? Do you know what it means by "a bear market rally trap"? If you do not know, then you should not be in bitcoin.
    
The two bear market rally from lows of %5600 are deadly traps. In a bear market - meaning the market will crash from the peak of $7500 to below $3000 within, say 2 months - all these rally pulls in those wanting a "bite" of the bitcoin cake and buying on dips - it is such dips which are deadly.

[thinair]

Bitcoin is now at $6700 back from $5680.

12 Nov 23:00 -  $5680
13 Nov 13:00 -  $6700

Steep rise within 14 hr. This is again an exponential rise that can only come from pumping from very large players - including the exchanges themselves which have complete ease to buy and sell.

   The current rate of rise or pumping is the fasted rate in all recent history!
   The fall will be as fast as its rise.   

   

Ordinary demands cannot push bitcoin up at this rate. This round of pumping will have to stop very soon as there won't be enough of first time buyers waiting to get into bitcoins. Those wanting to transfer bitcoins to the exchanges to sell would find it very difficult because of bitcoin's very large pool of unconfirmed transactions.

[thinair]

I think I am not welcomed in this forum.

I received this personal message from the moderator informing me of the deletion of a reply that I made to my thread : "Bitcoin will crash below $3000"

A reply of yours, quoted below, was deleted by a Bitcoin Forum moderator. Posts are most frequently deleted because they are off-topic, though they can also be deleted for other reasons. In the future, please avoid posting things that need to be deleted.

My reply is an answer to another comment. The only reason that I can see why my reply was deleted is that I argued that bitcoin has nothing to contribute to the good working of the world economic system. This is a purely academic hypothesis and I cannot see why a purely academic argument is not allowed to be freely expressed.

The moderators seem to dislike any argument that go against their official view about bitcoin. I cannot accept such suppression of decent freedom of expression. I have decided not to post any more comments about bitcoin here again. I may post in the technical sub forum if I need advice from the technical experts there.

[BeetcoinScummer]

I am born with eyes that works in special ways - it does average and smooth things up for me instinctively . I see the peak to be $7500.

Clearly you were born with eyes that suck. Too bad you've already left the forum and are no longer accountable for your stupid posts.

[prabakharras]

En route to $8000  https://www.coingecko.com/en/price_charts/bitcoin/usd

[hazukison]

You might as well delete your account at this point. Your predictions of doom are showing you to be a real idiot.

[ALT67890]

The reason of deleting your reply is nothing to do about personal interest of the moderator but maybe because it is not suite to the argument itself.

By the way, “Bitcoin must crash - $7500 is the peak??” Sorry for this but your wrong it’s 8000$ per bitcoin now, then I think you need to review your academic knowledge towards world currency and let this failure to make something that is beyond ones predictions an answer why most of us, bitcoin users will never understand rules and norms financially. Bitcoin is different from all. Period.

[alyssa85]

Currently you can see btc price is increasing  and now 1 Bitcoin equals upto 7.9k US Dollar.  Bitcoin price is now increasing  so fast that i think it will be 2x of its price within the middle of next year

Bitcoin is back down to about $7700. It looks to me like it has made a double top and will head down to about $6000.

[CONANEDO]

Bitcoin Price - all years
https://www.coindesk.com/price/

Many people here have a wrong concept about long term investment, that it only mean to  buy-and-hold - holding no matter what. The term investment itself implies a wise decision. The first cardinal principle of investment is:
   

Invest for profit.

I do not know how to comment on "investors" who do not care much about profit.

   Short-term Trading:
There are indeed short and long term investment. Short term investment is speculation in very volatile markets -  to make profits by buy-low and sell-high in a time span of a day or even just hours. The greater the volatility, the better it is for the such traders. But such short term trading is only for the very sharp traders - it is a zero sum game (with crypto, it should be done by bots - program trading). Short term traders do not take the risk of holding bitcoin balances; they only ride a rising market as in the past months. Thus short term trading may only be profitable in a rising market, never in a falling bear market.

   Long-term Investment:
Long term investment means to buy a commodity that holds value in the future. A proper investment implies knowing when to buy and when not to buy. Just because we "buy-and-hold" does not mean that, whenever we have some spare funds to invest, we immediately enter the market. Entering the market to buy with no timing consideration is no investment. We only invest to maximize profit and this may only be achieved when we have good timing. The second principle in investment:
   

Timing is important in successful investing.

.   
The need for timing applies even for long term investment.

Let's assume we agree that bitcoin is a good long term investment - it's value in the long term will always rise. But don't forget that nearly all commodities rise in the long term. Even prices of coal, corn and pork belly would rise in the long term because of the nature our fiat system. So, even buying bitcoin still is very dependent of timing if you "care" to make profits.

Many here think that, because bitcoin will surely have an increased value in the long term, any moment is a correct moment to buy. It is not! What if the current price of $7000  is the peak and it  crashed to a low of a $1000 in 2020. It recovers to $7000 in 2025. You'll be in the red for 8 years! That's not good long term investment! Ok, it is only a "what if".

So for these so-called long term "buy-and-hold" bitcoin purists, the question now is :
   

Is this the time to buy?

Go to the link above and see the chart for the bitcoin price for all years. You must know how to zoom in at the frame around 2014 covering the rise and crash about Dec 2013 (Mt. Gox period). The market rose from $120 to $900 and crashed back to ±$230 about 2015. Only when you zoomed in will you see the similarity between that rally and this - they are similar (only visually evident when you zoomed in because of scale difference).

This current rally is the same as the one in 2013, the only difference is the scale:
   

The current rally is an exponential rise.

All financial markets that rise exponentially will crash - even for the best of investment medium. It is almost a law of nature, just like the law of large numbers and the return to the norm.
   

This Bitcoin price of $7000 is the peak and it must crash.

   

A third cardinal principle of investment:
      

Good timing requires patience and the ability to wait for the right moment.

      
So even for long term investors, this is not the time to buy.
   

Wait!

i think your definition about crash maybe when BCH almost reach 0.5 btc about 5 days ago,this is the crash you should expected and you should buy when price around $5000.now the price is $7800 got correction because traders want to took their profit and next the price will break $8000.
you need to remember when a chance come you need to grab the chance so you will not regret.

[DaMut]

I think I am not welcomed in this forum.

I received this personal message from the moderator informing me of the deletion of a reply that I made to my thread : "Bitcoin will crash below $3000"

A reply of yours, quoted below, was deleted by a Bitcoin Forum moderator. Posts are most frequently deleted because they are off-topic, though they can also be deleted for other reasons. In the future, please avoid posting things that need to be deleted.

My reply is an answer to another comment. The only reason that I can see why my reply was deleted is that I argued that bitcoin has nothing to contribute to the good working of the world economic system. This is a purely academic hypothesis and I cannot see why a purely academic argument is not allowed to be freely expressed.

The moderators seem to dislike any argument that go against their official view about bitcoin. I cannot accept such suppression of decent freedom of expression. I have decided not to post any more comments about bitcoin here again. I may post in the technical sub forum if I need advice from the technical experts there.

it's not about you're not welcomed in this forum but instead you thread made a lot of pros and cons,
to be honest from what view you can speculate that thing ?
'Bitcoin will crash below $3000',
and right now look at your speculation about Bitcoin will crash after it hit $7500 ?
we can speculate,but try to add some proof behind it and logical explanation.
all that we can see it's more like fud,and because of that we can see a lot of cons and pros with your statement.
before blaming someone,it would be best for you to look yourself in the mirror.

mods job only one which is to prevent people from fight each other,
and causing a lot of baseles statement which will lead an insult to each other later on.

[investeerder]

Currently you can see btc price is increasing  and now 1 Bitcoin equals upto 7.9k US Dollar.  Bitcoin price is now increasing  so fast that i think it will be 2x of its price within the middle of next year

Bitcoin is back down to about $7700. It looks to me like it has made a double top and will head down to about $6000.

How come it will came back to 6000$ do you see any deep correction happening? Or any bad hypes that can make bitcoins price falls? Since I think that prediction is little bit low for now and the way I see the 7300$ is the lowest price would ever came for bitcoins right now and maybe we can see the BTC touch down for another 8000$ level and maybe for even more.

[timerland]

There is absolutely no good investing if you are not going to cash out, i agree with you on that. However i think that bitcoin has not even achieved 1/10th of its potential, in my opinion. And to dump now when the price isn't even in 5 figures would just be a dumb move.

I don't care what you are for, whether you think bitcoin is a bubble or whatever, bitcoin is going to hit $10k this year or the next.

$7500 has shown not to be the peak, and even though there has been a small correction caused by BCH's rise in value, BTC will go up soon to break $8k, 9k, then 10k.

[Denker]

Currently you can see btc price is increasing  and now 1 Bitcoin equals upto 7.9k US Dollar.  Bitcoin price is now increasing  so fast that i think it will be 2x of its price within the middle of next year

Bitcoin is back down to about $7700. It looks to me like it has made a double top and will head down to about $6000.

I think we will just go sideways here for a while. $7500-$8000 before making another breakout.
Look at the weekly chart! What a crazy bullish engulfing. Probably this is one of the biggest weekly green candles we have ever had in Bitcoin's history!
And look what happened in the past when we had a weekly bullish engulfing! Still some upside before making some bigger correction, it looks like.

[Evintiman]

look at that from the bright side unique chance for buying bitcoins with 20-30% discount cause price will get back to 7000 mark before new year.

People here are always too late. They likely bought their coins very close to the peak levels, and for that reason aren't in a position to see it as an opportunity. If we look at the charts, there is a similar pattern visible, hinting at a correction somewhere close to the +$7000 levels we visited before the market went down. It doesn't require any actual market understanding to spot that pattern, but just common sense. At worst we'll be testing the $5000 level in the very short term, but I don't expect the market to fall that much down. My guess is a dip just under the $6000 level ($5800-$5900) where after that we will see the market go back up again.

You are right. The dip happened in the $5500 range. I think after the Bitcoin future is listed in CME, the price could be $10000 or even higher.

[RAmondragon]

Bitcoin can still go up. We might be seeing fluctations due to segwit2x cancellation, but for me it can never be the reason for bitcoin to crash.

[TwSeventh]

Bitcoin still can go up from this point or even it's possible to double in term of value,
many people still do not know about Bitcoin and lately some countries trying to get involved.
for example japanese,
they're regulating their exchanger and slowly monitoring the movement,
which mean slowly but sure Bitcoin get recognized by goverment and peoples.
so the its true value far from right now,
i believe it will be huge in upcoming days