I'm officially sick of the bitcoin price right now...

[ktabb]

.. so I've been watching and reading about btc technical analysis almost daily now, and I'm kind of sick of being in this current triangle.  I've only been in btc since September so I really don't have that much history, but for those who have been in btc much longer - how much longer do you think it will take before btc goes back on the upward trend again?  It just seems like a really long sideways movement.

On Dec 17th, it reached its high of $20k, and it has taken almost a month and we're still below those numbers.  What is your estimate for when we can be above $20k again and onward to what people predict for this year ($50k-$100k)?  Another month?  March?

I know nobody knows for sure, but just looking to hear about what people's gut feel is (and only from those who have btc experience over a year please).

Thanks.

First of all, this "sideways" movement has involved fluctuations of 15% or more in single days. For any other asset that kind of volatility would be insane. The price skyrocketing prior to that was not the "norm". That was highly unusual, and furthermore, unwarranted. There is no reason to think that bitcoin will go back to that previous upward trend before dropping significantly. Every time that bitcoin has skyrocketed like it did over the months that brought it from around $1k to $20k, it has subsequently crashed by 60-80% or so. I don't see a reason to think that this will not happen again. I do see reasons that it could potentially crash even harder than that though.

[Lucius]

There is no mercy in the world of cryptocurrency,for most it is just about how to make more money.When big pump is start at beginning of last year smart people know that a big correction will take place,but for all new users who boarded the ship at full speed all this today looks very strange.Ship is slowing down and sometimes are even moving backwards,waves are too high and it seems that the ship will sink.

For some this is bad times,for others time of great opportunities.No one can say when something would change for better or worse,it is risk which must be taken when investing in BTC or any other risky asset.

[nthnode404]

When cryptos go down, they are on sale. If you buy the dips and HODL, you'll be ahead of the game in the future. A very small percentage of the world is even in the crypto space, so as they come in, the volume along with the prices will increase. Just need to be patient.

[machinationus]

Then get the fuck out of here, if you are "sick" just like you are saying, then i guess that you really want to suicide because the price has dropped a "little" just leave, and it would be much more healthier for the entire community in here.

[bob3772]

.. so I've been watching and reading about btc technical analysis almost daily now, and I'm kind of sick of being in this current triangle.  I've only been in btc since September so I really don't have that much history, but for those who have been in btc much longer - how much longer do you think it will take before btc goes back on the upward trend again?  It just seems like a really long sideways movement.

On Dec 17th, it reached its high of $20k, and it has taken almost a month and we're still below those numbers.  What is your estimate for when we can be above $20k again and onward to what people predict for this year ($50k-$100k)?  Another month?  March?

I know nobody knows for sure, but just looking to hear about what people's gut feel is (and only from those who have btc experience over a year please).

Thanks.

I'm going to ignore your 'only people with over a year's experience' and give my answer anyway. I joined in a similar time to you actually. You might remember a similar event happening when China banned ICOs. Such things always hit the market but the market recovers, the other similarity is that they both probably came at a time when a correction was needed in the market. Now if you look at the growth of bitcoin say on a weekly graph it's quite clear there was some exponential growth around December and that this correction seemed quite likely, you can look back over the forum and a lot were saying it even then. How long we will take to recover is a difficult question, to 20k+ I think it could be a month or more, even as long as 3 months or so. Back to 14k-15k (about where the price should be in my opinion) I suspect in less than a week. If you check out the graph and remove december's blow up you can see the trend would put as somewhere from 12-16k in price. Anything below 10k seems too low and I don't think we'll see that and hence the bottom is near in my opinion, it will take another big shock to the market to see that breached. 50k is probably about the upper limit of where bitcoin can go this year in my opinion. We won't experience another year like last and you shouldn't be expecting such a year.

[thecodebear]

.. so I've been watching and reading about btc technical analysis almost daily now, and I'm kind of sick of being in this current triangle.  I've only been in btc since September so I really don't have that much history, but for those who have been in btc much longer - how much longer do you think it will take before btc goes back on the upward trend again?  It just seems like a really long sideways movement.

On Dec 17th, it reached its high of $20k, and it has taken almost a month and we're still below those numbers.  What is your estimate for when we can be above $20k again and onward to what people predict for this year ($50k-$100k)?  Another month?  March?

I know nobody knows for sure, but just looking to hear about what people's gut feel is (and only from those who have btc experience over a year please).

Thanks.

When the crash started a month ago I figured it would take until end of January or early February to break $20k, because the two crashes from last June/July and Sept/Oct each took roughly a month and a half to break the ATH. Though this time it looks like it might be a bit weaker and take a bit longer...though part of that is probably because the run up during this last bull run was so insane. I don't know if it'll go down further than the $11k it is at now, but I sure hope it doesn't. It seems this current break downwards is due to China and Korea news/rumors of this past week. When people get over that it should start going back up. It was at $17k just what like a week ago or so.

Right now I'm thinking my prediction of hitting new ATHs and initiating the next bitcoin bull run at beginning of February is probably a bit too soon. But I think February is likely to be an uptrend for bitcoin. Not sure if it'll quite break $20k in February but I do think we'll get out of this bear market and the price will start testing the high teens it entered in December.

Though of course this is all just a guess. But with probably a hundred thousand or so new people getting into crypto every day this bear market can only last so long.

[batang_bitcoin]

how much longer do you think it will take before btc goes back on the upward trend again? 

Chill man, I know it's painful to see the price getting down but you must get used to it. You just been into bitcoin on September and by that time the price was moving upward so you quite didn't experience some dips. Maybe next month or on March, just hold your bitcoins and stay away from price checking.

What is your estimate for when we can be above $20k again and onward to what people predict for this year ($50k-$100k)? 

Not all the time price will be on a downfall chart so you just have to relax after this storm it will be pumping again. Big pumps does have an opposite of big dips and this healthy.

[SpyX]

Damn, I'm sick too, bitcoin is in a severe dumping right now... I think our best bet is to HOLD it, and like other said, bitcoin will rise like a storm after this. But it reminds bitcoin is a lot of speculation, don't invest what you can't afford.

Anytime there's a China rumor about the bitcoin, price drops... I'm a new investitor, but I've already seen an other big dip this summer. It's fine for those who're in UDST, but for other, don't sell now, if you've what happened in november/december, price will rise up.

[giveen]

Ok then piss off no one cares if you are sick of btc. The problem is you all forget the past from $0.001 to $20k and people still complain if there is a little bit of correction. If you don't realise this dump is just because of a rumour which has caused panic in south korea which is now affecting the whole market.

If you were smart enough you would buy more instead of simply complaining.

[Tak2020]

50% correction  lol f#&$ this market

[nydiacaskey01]

50% correction  lol f#&$ this market

Yep correction and fud, but them together BTC price will drop and enter those with large bag of money to buy coins sold by noobs. Cant blame the noobs for selling early, they are not yet used with BTC price. If Ihave money to spare, I should have some more and ask for a picture.

[Tak2020]

50% correction  lol f#&$ this market

Yep correction and fud, but them together BTC price will drop and enter those with large bag of money to buy coins sold by noobs. Cant blame the noobs for selling early, they are not yet used with BTC price. If Ihave money to spare, I should have some more and ask for a picture.

after this huge "correction " FOMO gone , I invested  @7k sold @ 16k and and now it's 11k but I'm not buying. Bitcoin will not cross $20k this year.  People now dreaming even for $16k

[oriz345]

Anyone claiming to know TA should know that with bitcoin tearing through the upper bollinger band, a massive correction was coming in order to go back into the bands. I don't think we're outta the woods quite yet, but I think the worst is probably behind us for now.

[RealPhotoshoper]

50% correction  lol f#&$ this market

Yep correction and fud, but them together BTC price will drop and enter those with large bag of money to buy coins sold by noobs. Cant blame the noobs for selling early, they are not yet used with BTC price. If Ihave money to spare, I should have some more and ask for a picture.

after this huge "correction " FOMO gone , I invested  @7k sold @ 16k and and now it's 11k but I'm not buying. Bitcoin will not cross $20k this year.  People now dreaming even for $16k

Indeed the market really so struggle to come back to $16,000 it is the fact.
But there is another fact where bitcoin worth only $1,000 and people confidently say it won't crossed even to $2,000 .
For sure noone know about the future of bitcoin price , we just know that out there a lot of people waiting to buy bitcoin at the right time for them , and guess what will happened to the market? The price escalate quickly!

[blitz18]

Anyone claiming to know TA should know that with bitcoin tearing through the upper bollinger band, a massive correction was coming in order to go back into the bands. I don't think we're outta the woods quite yet, but I think the worst is probably behind us for now.

This correction will tends to stop and it will go up again. Bitcoin price market is really crazy and you have to be tough in order for you to gain profit at the end. Although we dont know yet the outcomes and what price it would be,but deciding to wait for the price to up is good.

[ipanks]

Anyone claiming to know TA should know that with bitcoin tearing through the upper bollinger band, a massive correction was coming in order to go back into the bands. I don't think we're outta the woods quite yet, but I think the worst is probably behind us for now.

This correction will tends to stop and it will go up again. Bitcoin price market is really crazy and you have to be tough in order for you to gain profit at the end. Although we dont know yet the outcomes and what price it would be,but deciding to wait for the price to up is good.

there is nothing that we can do except keep buying bitcoin at lower price or we can hold our bitcoin until the price increase again. there will be a time for bitcoin price to back to the highest price and we still need to wait the time comes. maybe in the next week, we can see the price start to rise again and who knows, the price could make the highest price that we have never seen before.

[timerland]

.. so I've been watching and reading about btc technical analysis almost daily now, and I'm kind of sick of being in this current triangle.  I've only been in btc since September so I really don't have that much history, but for those who have been in btc much longer - how much longer do you think it will take before btc goes back on the upward trend again?  It just seems like a really long sideways movement.

On Dec 17th, it reached its high of $20k, and it has taken almost a month and we're still below those numbers.  What is your estimate for when we can be above $20k again and onward to what people predict for this year ($50k-$100k)?  Another month?  March?

I know nobody knows for sure, but just looking to hear about what people's gut feel is (and only from those who have btc experience over a year please).

Thanks.

If you don't have the patience to trade bitcoin and see it rise then just don't. Nobody is forcing you to. Bitcoin is going to go up and down and you can't always expect it to continue to go up, otherwise it's a scam and the promises won't be redeemed.

$20k isn't a guarantee. Anyone saying that would be trying to mislead you.

But i think if you buy now, the chances of you making a sizeable profit should be quite high. Even if bitcoin goes to $13k, which i believe this price rebound will bring the BTC/USD index to at the worst, you're making 10%.

$50k-100k for now is still unrealistic. Maybe this year we'll see $30k though.

[yonton]

Just buy back in with the rest of the heard at 40k than sell at 20k and cry about it again. That's what most idiots do.

[magneto]

Just buy back in with the rest of the heard at 40k than sell at 20k and cry about it again. That's what most idiots do.

Yeah to be honest i find it strange that people find the current price level a good level to sell at, but when the price was $15k or $16k or just before the all time high they haven't sold. My point from previous posts still stands - it's simply a panic dump, and i still believe that the all time high is going to be broken this year(along with it $20k, which hasn't been broken for now).

Don't buy high sell low, that's basic facts of trading.

As long as you don't cash out your position, you're still in the game. And for bitcoin, long term is going to be worth it to hold BTC. No reason to overly debate between whether or not price is going to drop another 10% or not in the short term. It really makes very little difference.

[yonton]

Just buy back in with the rest of the heard at 40k than sell at 20k and cry about it again. That's what most idiots do.