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Author Topic: Bitcoin CRASHES to $6K today as THE PROPHET warned in this forum  (Read 335 times)
1legalco
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February 07, 2018, 01:13:31 AM
 #1

Just search THE PROPHET

Weeks ago his alert was all over this forum

He said $5k was near when it was 13K

Today we hit $6K and now he is saying it will go to sub 1K

So the ride down is not over

https://kryptous.com/bitcoin-crashes-to-6k-as-the-prophet-warned/
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February 07, 2018, 01:17:40 AM
 #2

I need more than a single call to consider someone a prophet. 5.5K was a super easy call, I made it months ago, and my opinion is we are seeing 10K before we see 1K

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February 07, 2018, 01:20:45 AM
 #3

I need more than a single call to consider someone a prophet. 5.5K was a super easy call, I made it months ago, and my opinion is we are seeing 10K before we see 1K


Are you implying we are going to see 10k and then 1k? A violent bounce like that?

And after 1k, what will be? Do you think it would stand too much time there? Chinese new year is ten days ahead.

If it is to have such bounce, it would go back to 2.5-3.5k at most, and would be short-lived. And a lot of people would get burned, on both sides.
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February 07, 2018, 01:28:16 AM
 #4

I'm am not calling 1K. However even if 1K was coming, 10K would come first.

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February 07, 2018, 03:22:00 AM
 #5

I'm am not calling 1K. However even if 1K was coming, 10K would come first.

What sort of analysis do you have for this?
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February 07, 2018, 03:27:05 AM
 #6

I can see it going down to $2000 level, since 90% haircut is par for the course here in bitcoinland; however, $1000 is a bit too much. Most likely, we will see $4000 level sometime soon, if not we'll be on our way to $10K soon.

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February 07, 2018, 03:39:03 AM
 #7

I can see it going down to $2000 level, since 90% haircut is par for the course here in bitcoinland; however, $1000 is a bit too much. Most likely, we will see $4000 level sometime soon, if not we'll be on our way to $10K soon.

Wow dispute wishful thinking I am also lost for words.

Practical application should be considered.

Here is a profitably vs network difficulty vs going rate for BTC spreadsheet.

https://docs.google.com/spreadsheets/d/11QS1BBV11KNGTF8N_-fdfmjTZ3WzPQFbLfVrl5n6R8s/edit?usp=sharing

Please note the network difficulty at 5% is highly conservative and is used here as an example for newbies that are unaware that selling Bitcoin at 7500 USD/ BTC is foolish.

When I first started mining with ASICs and keeping the spreadsheet going we were having 30% to 20% gains on average every difficulty target.

What I wanted to demonstrate with this chart that even if the network balanced out and remained at an improbable 1% gain. At the present rate 7500 USD you'd be hard-pressed even make one Bitcoin profitably. I have also set one to a more reasonable 10% increase for the next 6 retargets while BTC is trading at 15000 usd

I also make note that anything past 3 difficulty retarget is hard to predict. For reference I set a second difficulty at 1% after 6 target levels.. That is why I try to take the average of 2016-2017 and the last month of 2018.

I personally believe that come April we're going to see another 20% increase. This is simply because Samsung is now making a ASICs. With increased production we are also due for an increase in chip performance with the next-generation hardware.

Update: For instance if you mined with the S9 under those conservative network difficulty increases you would net 0.49 BTC and at 15000 = 4850 USD.
After hardware and power costs your profit would 2500usd.

This doesn't even factor in overhead such as employee security and rent or any incidentals.

If you took that same investment and purchased BTC at 7500usd now. You would have 0.65btc.

So ultimately selling BTC now for hardware seems foolish. That is unless instead of paying tax you prefer to have that tax portion work for you by reinvested in a mining asset you can depreciate.

^ UPDATE: Now with two difficulty dates. Presently set at 5% and 1% on the 6th month.

2ND UPDATE: I added a result at 15,000.00 USD to BTC Estimated Return with a Network difficulty increase of 10%
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February 07, 2018, 04:34:05 AM
 #8

...

Thank you for the thoughtful writeup, it's certainly refreshing to read something actually backed by facts and numbers for a change. Smiley

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February 07, 2018, 05:42:55 AM
 #9

For the sake of discussion, do the Bitcoin markets follow or care about if the miners are still making some profit or not? If it does, care to explain the relationship on where the price should be and how mining affects it?

It's hard for me to to think of how the miners influence the market. Maybe it did when the market was small before 2013 during the MtGox days, but now? I can't imagine how that is possible.


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February 07, 2018, 06:05:32 AM
Merited by fabiorem (1)
 #10

For the sake of discussion, do the Bitcoin markets follow or care about if the miners are still making some profit or not? If it does, care to explain the relationship on where the price should be and how mining affects it?

It's hard for me to to think of how the miners influence the market. Maybe it did when the market was small before 2013 during the MtGox days, but now? I can't imagine how that is possible.

just my guesses:
1. miners are practically big whales, specially the big farms and big players like bitmain. if they see their empire threatened they can start placing big buy walls even start buying and manipulating the price to stop the dump and then the market will do the rest for the rise.
2. by not selling any new mined coins they can also decrease the supply in the market and that can affect the price upwards. although this may not be the most effective.
3. the biggest thing in my opinion is the expectation! i believe that a big part of any price movement in any market is the analysis or speculation or expectation that people have. if a great number of people believe that $X is the bottom they will start placing buy orders there and many will buy before and that creates the buy support and the reversal. same as the drop. so if they believe that price can not go below certain level because miners will get F**ed then that is where the price will stop!

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February 07, 2018, 06:42:08 AM
 #11

the current happening do not encouraging people to actually invest. Many countries are set to ban bitcoin and other cryptocoins.
Bitcoin will still go further down and I get $5,000 to be the bottom. We should expect the 2013 pattern to repeat itself and I expect a reverse of directoins from next month.
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February 07, 2018, 07:58:33 AM
Merited by criptix (5)
 #12

I'm am not calling 1K. However even if 1K was coming, 10K would come first.

What sort of analysis do you have for this?
The high powered bounce off of 6K with 3-year record-breaking volume begs for some kind of rally to follow. Major bounces like this always run at least 100%. Also in the entire history of bitcoin, bitcoin does not fall more than 80% in a 3 month period and a huge rally must follow to sucker more people in. The fake rally goes halfway or almost all the way back to ATH. There is no basis for bitcoin to suddenly lose 95% of its value and go below the previous ATH - that is agorophobic thinking.

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February 07, 2018, 08:00:32 AM
Merited by criptix (1), digaran (1)
 #13

the current happening do not encouraging people to actually invest. Many countries are set to ban bitcoin and other cryptocoins.
Bitcoin will still go further down and I get $5,000 to be the bottom. We should expect the 2013 pattern to repeat itself and I expect a reverse of directoins from next month.

All theses arguments are old and proven false.

What we don't need is scams and fraudulent ICOs as well as exchanges that run as a fractional reserve.

Government and laws that are part of the traditional trading platforms are going to need to be introduced at the exchange levels.

Even penny stocks have been used for fraud.

The deliberations next Tuesday will clarify the stance as far as what steps should and will be taken.

As for miners and setting the prices???

Hardware and infrastructure investment both by accredited investors, bank loans, and reinvestment in hardware to lower taxes is one of the primary ways that crypto gets new money into the echo system.

All the hacks and fraudulent ICOs simply drain the market cap as they attempt to get away with their theft.

Miners reinvest in crypto.

Get rich quick simply bleed both the reputation and the true value of the Bitcoin economy.
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February 07, 2018, 08:16:07 AM
 #14

Past Performance Is No Guarantee of Future Results

Bitcoin is like a box of chocolates. You never know what you're gonna get !!
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February 07, 2018, 08:25:43 AM
 #15

Bearish trend is over. So in my opinion we will not go down more. this is just beginning for a real bullish trends and more will come on 2018
Already we are now 7750 usd and gaining more every minute. So don't wait for under 6k start to buy as soon as possible

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February 07, 2018, 08:27:49 AM
 #16

Past Performance Is No Guarantee of Future Results

I speak from experience.

Know that people who mine "Miners" are known as hardcore investors in BTC.

When it makes business sense to buy BTC rather then to buy mining hardware then you have your new floor.
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February 07, 2018, 09:13:39 AM
 #17

Just search THE PROPHET

Weeks ago his alert was all over this forum

He said $5k was near when it was 13K

Today we hit $6K and now he is saying it will go to sub 1K

So the ride down is not over

https://kryptous.com/bitcoin-crashes-to-6k-as-the-prophet-warned/

Lmao. And here he is just casually promoting his own crypto ICO, and saying that it'll make huge profits when the entire alt and bitcoin markets are going downhill. His words even if they are legit are just plain guesses, thousands of people make these uneducated guesses to try to get publicity, and a few of them has to succeed sooner or later.

So really, I don't see anything special in this. Nor is the guy actually a prophet like he assigns himself the title of.

D oyour own research and see what works best for you as an investment strategy. But no, bitcoin isn't going to crash to $1k before it goes to $15 or even $20k. The lowest point I see in this bear market will be $3-4k, potentially a bit less, but we're not going to regress back to start of last year.

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February 07, 2018, 09:43:14 AM
 #18

I need more than a single call to consider someone a prophet. 5.5K was a super easy call, I made it months ago, and my opinion is we are seeing 10K before we see 1K
You guys have misread I think, or OP did not make his point clear but he probably meant price would go from 6k to 5k (hence one more 1k down). Anyway, that's was my thought too but looks like I am wrong here, price is again above 7k and looks comfortable there for now.
Not sure about the middle term, depends a lot about regulations (or proposals) from big countries.
+ bitcoin cards issues is still an underrated concern (in my humble opinion).

By the way, website shared by OP is not a reliable source at all, there is no official traffic from SimilarWeb data > https://www.similarweb.com/website/kryptous.com
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February 08, 2018, 04:11:37 AM
 #19

Just search THE PROPHET

Weeks ago his alert was all over this forum

He said $5k was near when it was 13K

Today we hit $6K and now he is saying it will go to sub 1K

So the ride down is not over

https://kryptous.com/bitcoin-crashes-to-6k-as-the-prophet-warned/

No one real prophet will call himself a prophet. why is this Dr. Adoni? Where did it hide before? Why do prophets want to be invoilved into crypto?Very strange.
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February 08, 2018, 06:34:51 AM
 #20

For the sake of discussion, do the Bitcoin markets follow or care about if the miners are still making some profit or not? If it does, care to explain the relationship on where the price should be and how mining affects it?

It's hard for me to to think of how the miners influence the market. Maybe it did when the market was small before 2013 during the MtGox days, but now? I can't imagine how that is possible.

just my guesses:
1. miners are practically big whales, specially the big farms and big players like bitmain. if they see their empire threatened they can start placing big buy walls even start buying and manipulating the price to stop the dump and then the market will do the rest for the rise.

This is what I was saying. It was possible for them to manipulate the market before because it was "small". These days, I believe it would be hard for them to do that as more and more Wall Street and traditional investors come in and counter the miners' manipulation. Like short the market if the miners are long and make money from them.

Quote
2. by not selling any new mined coins they can also decrease the supply in the market and that can affect the price upwards. although this may not be the most effective.

This is one way, but how long would the miners be able to do that as they have expenses to pay.

Quote
3. the biggest thing in my opinion is the expectation! i believe that a big part of any price movement in any market is the analysis or speculation or expectation that people have. if a great number of people believe that $X is the bottom they will start placing buy orders there and many will buy before and that creates the buy support and the reversal. same as the drop. so if they believe that price can not go below certain level because miners will get F**ed then that is where the price will stop!

You mean gamble?


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