Bitcoin Forum
January 17, 2019, 10:18:34 PM *
News: Latest Bitcoin Core release: 0.17.1 [Torrent]
 
   Home   Help Search Login Register More  
Pages: « 1 [2] 3 4 »  All
  Print  
Author Topic: Another Bubble popped?  (Read 410 times)
pooya87
Legendary
*
Offline Offline

Activity: 1526
Merit: 1335



View Profile
March 08, 2018, 05:06:03 AM
 #21

So looks like another bubble has popped and BTC is taking a nosedive dropping from 11600 to 9700 a mere 1900$ in 3 days. How long does a bear market normally last? I'm expecting atleast the full year, can it take longer?

just because price goes down, it doesn't mean it is a bubble popping! a bubble is when price is so much higher than the intrinsic value and then it drops hard. like the $20k and the drop to $10k. not a 10% drop that in bitcoin is considered normal fluctuations!

and just because you saw a drop it doesn't mean we are in a bear market. this here is more of a sideways action than a bear or bull market. price is going up and down between two prices of $9k and $12k and until it breaks either one of these lines it is going to continue being a sideways action.

1547763514
Hero Member
*
Offline Offline

Posts: 1547763514

View Profile Personal Message (Offline)

Ignore
1547763514
Reply with quote  #2

1547763514
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1547763514
Hero Member
*
Offline Offline

Posts: 1547763514

View Profile Personal Message (Offline)

Ignore
1547763514
Reply with quote  #2

1547763514
Report to moderator
1547763514
Hero Member
*
Offline Offline

Posts: 1547763514

View Profile Personal Message (Offline)

Ignore
1547763514
Reply with quote  #2

1547763514
Report to moderator
Ararbermas
Sr. Member
****
Offline Offline

Activity: 700
Merit: 257


★Magnum Wallet★


View Profile
March 08, 2018, 06:03:26 AM
 #22

For me this is a normal correction of price and not  a bubble. 'cause on my view the price will never go dip even though on this moment the price is gradually decreasing, because i believe that some of the bitcoin news around the internet is not spreading false articles which is they say that there's a tend of price to spike again on this year. So perhaps the price will rebound again soon and it will never go dip, just keep holding 'cause for sure after this correction there will be a ATH again .

           ▄█▀▀█▄
          █▀▄▀▀▄▀█
         ▄█▄▀▄▄█▄
  ▄▄▄▄  ██▀▀█▄▄  ▀█▄▄ ▄▄▄▄
▄█▀▄▄ ▄▀           ▀██▀▄▄▀█▄
█ █  █ ▄     ▄▄     █ █  █
▀█▄▀▀▄█▀    ████    ▀▄ █▀▄█▀
  ▀▀██▌      ▐▌       █▀
     ▀█      ██     ▄█▌
     ▄▐▌▀█▄      ▄█▀▀█▄
    █ ▄▀▀▄▀█▄▄▄▄▄▄▄▀▀▄▀█
    █▄▀▄▄▀▄█▀▀▀▀  ▀▄▄▀▄█
     ▀█▄▄█▀      ▀█▄▄█▀
       █           ▄
      ▀█▀         ▄█▄
       ▀
▄███▄▄    █
 ▄
     ▄████████▄▄
▄█▄   █████████████▄
 █
   ███████████████▄
     ████████████████▄
     █████████████████
     █████████████████
     ▐
█████████████████
      ▀██
█████████████▀
        ▀███████████▀
          ▀▀█████▀▀
| ANN     | TELEGRAM     | DISCORD     | REDDIT     | TWITTER
[ CREATE WALLET ]
magneto
Hero Member
*****
Offline Offline

Activity: 882
Merit: 578


View Profile
March 08, 2018, 07:35:20 AM
 #23

So looks like another bubble has popped and BTC is taking a nosedive dropping from 11600 to 9700 a mere 1900$ in 3 days. How long does a bear market normally last? I'm expecting atleast the full year, can it take longer?

This was not a bubble. Bitcoin actually hasn't moved up much since the start of the year. In fact we're still negative from the start of the year. Recovering from $9k to $12k barely classifies as a pump since the previous high was just $12k as well.

The reason why this dump happened was not because of any sort of profit takers or the bubble popping. There wasn't one to begin with! Instead, it was mainly because people are worried about Binance and SEC's attitude towards exchanges.

What I'm seeing is a definitive dip that will probably last a while, could go down a bit lower in the meantime. But eventually people will stop panicking, realise that they've made a mistake by selling, and buy back, resulting in a recovery.

tweetbit
Full Member
***
Offline Offline

Activity: 462
Merit: 110



View Profile
March 08, 2018, 07:52:37 AM
 #24

At 11000$ and landed at 9000$ there is no bubble popping in my opinion. Just pure panic and investors cashing bitcoin for security. Can we expect after all the rumours, news from left to right (majority are bad) and China’s regulation about social media account banning then Binance controversial hacking incidents that is still in investigations. We would be surprised if the price hold on and increase, right?

▬▬▬   HODL   ▬▬▬
followmenot
Sr. Member
****
Offline Offline

Activity: 536
Merit: 251


Streamity Decentralized cryptocurrency exchange


View Profile
March 08, 2018, 08:02:36 AM
 #25

I think this is just regular panic and correction according to problems with latest binance problem. I am pretty sure markets will recover around may to july and bitcoin will reach above $20000, possibly 25000.

                ▄▄  ▄▄                
            ██  ▀▀  ▀▀   ██           
        ██                   ██
       
                ██  ██  ▄▄            
     ██    ██           ▀▀  ▄▄        
                  ███       ▀▀        
   ██    ██   ███      ███     ██     
                          ███         
  ██   ██   ██    ███ ███    ▄▄   ██  
               ███           ▀▀       
  ██   ██  ███           ███  ██   ██ 
                     ███              
    ▄▄  ██    ███ ███     ▄▄  ██   ██ 
    ▀▀    ▄▄              ▀▀          
      ▄▄  ▀▀          ███    ██   ██  
      ▀▀      ██  ███                 
         ██              ███    ███   
             ██  ██  ███              
       ██                    ██       
           ███  ▄▄▄  ▄▄  ███          
                ▀▀▀  ▀▀               
 
STREAMITY
 

 

  Twitter
Facebook
Instagram
  Telegram
LinkedIn
Medium
exstasie
Hero Member
*****
Offline Offline

Activity: 1064
Merit: 584


View Profile
March 08, 2018, 08:27:28 AM
 #26

Long term, I'm seeing two main possibilities.

Scenario A: My preferred outcome is that we are in a fractal like summer 2012 or late spring 2013. If so, the correction is not over, but the lows may already be in. The plunge to $6,000 may have been the A wave of a bullish triangle. Or it could have been a W wave in a WXY consolidation. Both the 2012 and 2013 fractals had WXY structure where the initial leg down was the bottom. I believe Masterluc favors the 2012 fractal.

Scenario B: The other possibility is that we are still waiting for an 80-90%+ decline from the top over 1-3 years. That the altcoin markets and Google trends are both in utter despair support that idea. Bottom at $3,000 or lower.

Either way, a 90% crash is probably coming. The question for me is, will we go to $100,000 first?! Tongue

Rajamuda
Sr. Member
****
Offline Offline

Activity: 560
Merit: 250


★Magnum Wallet★


View Profile
March 08, 2018, 09:41:51 AM
 #27

I think this is just regular panic and correction according to problems with latest binance problem. I am pretty sure markets will recover around may to july and bitcoin will reach above $20000, possibly 25000.
And I'm sure after a high decline.. would causes more people to bought at a low price, that's movement is certainly a common thing that will lead to a high rising back.
The price at $20k seems to be familiar if many people expect the price is back on it, your prediction may be supported by the facts, I think that it will soon be reached.. but in fact it seems the price movements is still slowly to climbing.

           ▄█▀▀█▄
          █▀▄▀▀▄▀█
         ▄█▄▀▄▄█▄
  ▄▄▄▄  ██▀▀█▄▄  ▀█▄▄ ▄▄▄▄
▄█▀▄▄ ▄▀           ▀██▀▄▄▀█▄
█ █  █ ▄     ▄▄     █ █  █
▀█▄▀▀▄█▀    ████    ▀▄ █▀▄█▀
  ▀▀██▌      ▐▌       █▀
     ▀█      ██     ▄█▌
     ▄▐▌▀█▄      ▄█▀▀█▄
    █ ▄▀▀▄▀█▄▄▄▄▄▄▄▀▀▄▀█
    █▄▀▄▄▀▄█▀▀▀▀  ▀▄▄▀▄█
     ▀█▄▄█▀      ▀█▄▄█▀
       █           ▄
      ▀█▀         ▄█▄
       ▀
▄███▄▄    █
 ▄
     ▄████████▄▄
▄█▄   █████████████▄
 █
   ███████████████▄
     ████████████████▄
     █████████████████
     █████████████████
     ▐
█████████████████
      ▀██
█████████████▀
        ▀███████████▀
          ▀▀█████▀▀
| ANN     | TELEGRAM     | DISCORD     | REDDIT     | TWITTER
[ CREATE WALLET ]
JMD07
Member
**
Offline Offline

Activity: 378
Merit: 10


View Profile
March 08, 2018, 11:41:55 AM
 #28

So looks like another bubble has popped and BTC is taking a nosedive dropping from 11600 to 9700 a mere 1900$ in 3 days. How long does a bear market normally last? I'm expecting atleast the full year, can it take longer?
It's just normal as it needs enough time to do a bull run and bitcoin will surprise us in the coming months as this currency has no pattern and it depends on the supply and demand in the market. Let's just wait and give others a chance to buy their bitcoin.
jimbo2000
Full Member
***
Offline Offline

Activity: 336
Merit: 100



View Profile
March 08, 2018, 04:49:50 PM
 #29

Long term, I'm seeing two main possibilities.

Scenario A: My preferred outcome is that we are in a fractal like summer 2012 or late spring 2013. If so, the correction is not over, but the lows may already be in. The plunge to $6,000 may have been the A wave of a bullish triangle. Or it could have been a W wave in a WXY consolidation. Both the 2012 and 2013 fractals had WXY structure where the initial leg down was the bottom. I believe Masterluc favors the 2012 fractal.

Scenario B: The other possibility is that we are still waiting for an 80-90%+ decline from the top over 1-3 years. That the altcoin markets and Google trends are both in utter despair support that idea. Bottom at $3,000 or lower.

Either way, a 90% crash is probably coming. The question for me is, will we go to $100,000 first?! Tongue

Altcoin markets are still up significantly over the last 6 months and google trends remain largely unchanged over the same period. If we remove December through January then the market is relatively stable and actually has a slight growth. Comparing things to the previous high is always going to lead to such conclusions.

██████████████████████ ▀▄ Platio ▄▀ ██████████████████████
[TELEGRAM]│Smart Banking Ecosystem for crypto, fiat and│[FACEBOOK]
[TWITTER] │stocks, based on EOS blockchain technology │ [MEDIUM]
iv4n
Legendary
*
Offline Offline

Activity: 1204
Merit: 1011


THE ENERGY EFFICIENCY PROTOCOL


View Profile
March 08, 2018, 05:35:26 PM
 #30

Long term, I'm seeing two main possibilities.

Scenario A: My preferred outcome is that we are in a fractal like summer 2012 or late spring 2013. If so, the correction is not over, but the lows may already be in. The plunge to $6,000 may have been the A wave of a bullish triangle. Or it could have been a W wave in a WXY consolidation. Both the 2012 and 2013 fractals had WXY structure where the initial leg down was the bottom. I believe Masterluc favors the 2012 fractal.

Scenario B: The other possibility is that we are still waiting for an 80-90%+ decline from the top over 1-3 years. That the altcoin markets and Google trends are both in utter despair support that idea. Bottom at $3,000 or lower.

Either way, a 90% crash is probably coming. The question for me is, will we go to $100,000 first?! Tongue

Altcoin markets are still up significantly over the last 6 months and google trends remain largely unchanged over the same period. If we remove December through January then the market is relatively stable and actually has a slight growth. Comparing things to the previous high is always going to lead to such conclusions.


Great observation, I will remember that " comparing things to the previous high always will lead to wrong conclusions ". Like always wishing new ATH, everyday new ATH, people would like price to rise all the time and they just to pick up profit when ever they wish, people are fools.
I don't believe in any of this scenarios, rarely I see some scenario to come true. Bitcoin is constantly surprises us and in if we watch bitcoin trough the years that surprises are more positive then negative that trend will last in the future too. Bitcoin is not a bubble, bitcoin price can't be bubble that popped. Its just ordinary market fluctuations get use to that.

.


▄▄██ █████ █████ █████ █████ ██▄▄
▄████ █████ █████ █████ █████ ████▄
████▀  ▀███ █████ █████ █████ █████
▄▄▄▄    ▄▄▄ ▄▄▄▄▄ ▄▄▄▄▄ ▄▄▄▄▄ ▄▄▄▄▄
████    ███ █████ █████ █████ █████
████    ███ █████ █████ █████ █████
▀▀▀▀    ▀▀▀ ▀▀▀▀▀ ▀▀▀▀▀ ▀▀▀▀▀ ▀▀▀▀▀
████    ███ █████ █████ █████ █████
████    ▀▀▀ ▀▀▀▀▀ ▀▀███ █████ █████
████                 ██ █████ █████
▄▄▄▄     ▄▄▄▄▄▄▄     ▄▄ ▄▄▄▄▄ ▄▄▄▄▄
████    █▀███████    ██ █████ █████
████    █ ███████    ██ █████ █████
▀▀▀▀    █ ▄▄▄ ███    ▀▀ ▀▀▀▀▀ ▀▀▀▀▀
████    █ ███ ███    ██ █████ █████
████    █▄▄▄▄▄▄▄█    ██ █████ █████
████     ▀▀▀▀▀▀▀      ▀ ▀▀▀▀▀ ▀████
▄▄▄▄                            ▄▄▄
█████ ▄▄▄▄▄ ▄▄▄▄▄ ▄▄▄▄▄ ▄▄▄▄▄ ▄████
 ████ █████ █████ █████ █████ ████
   ▀▀ ▀▀▀▀▀ ▀▀▀▀▀ ▀▀▀▀▀ ▀▀▀▀▀ ▀▀   
bluenote.


.



.
▄▄████████▄▄
▄████████████████▄
▄████████████████████▄
███████████████▀▀  █████
████████████▀▀      ██████
▐████████▀▀   ▄▄     ██████▌
▐████▀▀    ▄█▀▀     ███████▌
▐████████ █▀        ███████▌
████████ █ ▄███▄   ███████
████████████████▄▄██████
▀████████████████████▀
▀████████████████▀
▀▀████████▀▀
.
.
.
▄▄████████▄▄
▄████████████████▄
▄████████████████████▄
███████████▀    ▐███████
███████████    ▄▄█████████
▐██████████▀    ▀▀█████████▌
▐█████████▌       █████████▌
▐███████████    ███████████▌
███████████    ███████████
██████████    ██████████
▀████████▄  ▄████████▀
▀████████████████▀
▀▀████████▀▀
.


.


.
█▀▀▀█▀▄
█   █  ▀▄
█   ▀▀▀▀█
█ ▀▀▀▀▀ █
█ ▀▀▀▀▀ █
█▄▄▄▄▄▄▄█

  ▄▀▀▀▀▀▀▄
█▀▀█▀▄   █
█  █  ▀▄ █
█  ▀▀▀▀█ █
█ ▀▀▀▀ █▄█
█▄▄▄▄▄▄█
.
Summary
.
WhitePaper
reliable
Full Member
***
Offline Offline

Activity: 532
Merit: 121


View Profile
March 08, 2018, 05:46:37 PM
 #31

Long term, I'm seeing two main possibilities.

Scenario A: My preferred outcome is that we are in a fractal like summer 2012 or late spring 2013. If so, the correction is not over, but the lows may already be in. The plunge to $6,000 may have been the A wave of a bullish triangle. Or it could have been a W wave in a WXY consolidation. Both the 2012 and 2013 fractals had WXY structure where the initial leg down was the bottom. I believe Masterluc favors the 2012 fractal.

Scenario B: The other possibility is that we are still waiting for an 80-90%+ decline from the top over 1-3 years. That the altcoin markets and Google trends are both in utter despair support that idea. Bottom at $3,000 or lower.

Either way, a 90% crash is probably coming. The question for me is, will we go to $100,000 first?! Tongue

Altcoin markets are still up significantly over the last 6 months and google trends remain largely unchanged over the same period. If we remove December through January then the market is relatively stable and actually has a slight growth. Comparing things to the previous high is always going to lead to such conclusions.

Altcoins have fallen badly in past 2 months. Btc on other hand was becoming better as crossed 10500 last week and looks good suddenly today it has started to breach 9200$ as well which is little worry sign. Though it not expected to go much dip now but still if people started to sell then the pressure would be too much.
Denker
Legendary
*
Offline Offline

Activity: 1414
Merit: 1013


View Profile
March 08, 2018, 06:06:31 PM
 #32

Long term, I'm seeing two main possibilities.

Scenario A: My preferred outcome is that we are in a fractal like summer 2012 or late spring 2013. If so, the correction is not over, but the lows may already be in. The plunge to $6,000 may have been the A wave of a bullish triangle. Or it could have been a W wave in a WXY consolidation. Both the 2012 and 2013 fractals had WXY structure where the initial leg down was the bottom. I believe Masterluc favors the 2012 fractal.

Scenario B: The other possibility is that we are still waiting for an 80-90%+ decline from the top over 1-3 years. That the altcoin markets and Google trends are both in utter despair support that idea. Bottom at $3,000 or lower.

Either way, a 90% crash is probably coming. The question for me is, will we go to $100,000 first?! Tongue

Scenario B is a bit too much imo. There's no reason why we should see 1-3 year bear market without any big technical failure in the protocol or at least 2-3 major exchanges getting totally rekt.
2014 was a big acceptance due to Mt. Gox being the exchange leader at that time. 75% of the trading volume was on Gox back in the days. So a huge failure point.
Right now even a Tether desaster wouldn't suppress the market that long imo.
South Park
Hero Member
*****
Offline Offline

Activity: 952
Merit: 506


★Bitvest.io★ Play Plinko or Invest!


View Profile
March 08, 2018, 06:20:20 PM
 #33

So looks like another bubble has popped and BTC is taking a nosedive dropping from 11600 to 9700 a mere 1900$ in 3 days. How long does a bear market normally last? I'm expecting atleast the full year, can it take longer?
After the crash in 2013 the bear market lasted for more than 2 years but that was a catastrophic crash that happened because of the Mt Gox exchange going down with the money of its customers, the only thing I can say to you is that you need to wait and hold it is not easy but as you can see with the recent pump in the price that happened in December of the last year the wait can be worth it.



.
.BITVEST DICE.
HAS BEEN RELEASED!


▄████████████████████▄
██████████████████████
██████████▀▀██████████
█████████░░░░█████████
██████████▄▄██████████
███████▀▀████▀▀███████
██████░░░░██░░░░██████
███████▄▄████▄▄███████
████▀▀████▀▀████▀▀████
███░░░░██░░░░██░░░░███
████▄▄████▄▄████▄▄████
██████████████████████

▀████████████████████▀
▄████████████████████▄
██████████████████████
█████▀▀█▀▀▀▀▀▀██▀▀████
█████░░░░░░░░░░░░░████
█████░░░░░░░░░░░░▄████
█████░░▄███▄░░░░██████
█████▄▄███▀░░░░▄██████
█████████░░░░░░███████
████████░░░░░░░███████
███████░░░░░░░░███████
███████▄▄▄▄▄▄▄▄███████

██████████████████████
▀████████████████████▀
▄████████████████████▄
███████████████▀▀▀▀▀▀▀
███████████▀▀▄▄█░░░░░█
█████████▀░░█████░░░░█
███████▀░░░░░████▀░░░▀
██████░░░░░░░░▀▄▄█████
█████░▄░░░░░▄██████▀▀█
████░████▄░███████░░░░
███░█████░█████████░░█
███░░░▀█░██████████░░█
███░░░░░░████▀▀██▀░░░░
███░░░░░░███░░░░░░░░░░

██░▄▄▄▄░████▄▄██▄░░░░
████████████▀▀▀▀▀▀▀██
█████████████░█▀▀▀█░███
██████████▀▀░█▀░░░▀█░▀▀
███████▀░▄▄█░█░░░░░█░█▄
████▀░▄▄████░▀█░░░█▀░██
███░▄████▀▀░▄░▀█░█▀░▄░▀
█▀░███▀▀▀░░███░▀█▀░███░
▀░███▀░░░░░████▄░▄████░
░███▀░░░░░░░█████████░░
░███░░░░░░░░░███████░░░
███▀░██░░░░░░▀░▄▄▄░▀░░░
███░██████▄▄░▄█████▄░▄▄

██░████████░███████░█
▄████████████████████▄
████████▀▀░░░▀▀███████
███▀▀░░░░░▄▄▄░░░░▀▀▀██
██░▀▀▄▄░░░▀▀▀░░░▄▄▀▀██
██░▄▄░░▀▀▄▄░▄▄▀▀░░░░██
██░▀▀░░░░░░█░░░░░██░██
██░░░▄▄░░░░█░██░░░░░██
██░░░▀▀░░░░█░░░░░░░░██
██░░░░░▄▄░░█░░░░░██░██
██▄░░░░▀▀░░█░██░░░░░██
█████▄▄░░░░█░░░░▄▄████
█████████▄▄█▄▄████████

▀████████████████████▀




Rainbot
Daily Quests
Faucet
Coffee135
Full Member
***
Offline Offline

Activity: 392
Merit: 137


View Profile
March 08, 2018, 06:29:13 PM
 #34

Now a lot of very large players appear in the cryptocurrency market. They concentrate in their hands a lot of capital. This will make the market more unpredictable. We have to be ready for these races will be familiar to us. It doesn't scare me. Each of us can make money of it. But for this you should always have a reserve not to sell the coins at the bottom of the candle.
serjent05
Legendary
*
Offline Offline

Activity: 1148
Merit: 1004


View Profile
March 08, 2018, 07:56:45 PM
 #35

Now a lot of very large players appear in the cryptocurrency market. They concentrate in their hands a lot of capital. This will make the market more unpredictable. We have to be ready for these races will be familiar to us. It doesn't scare me. Each of us can make money of it. But for this you should always have a reserve not to sell the coins at the bottom of the candle.

Yes, the current crash in price should not affect us.  We have seen Bitcoin to recover several time and it will recover soon too. Some believe that this crash is just another sign that bitcoin will skyrocket again.  And I also believe that kind of analogy.  All we have to do is to hodl until we got the aim price to sell our Bitcoin.
harizen
Legendary
*
Online Online

Activity: 1414
Merit: 1070


View Profile
March 08, 2018, 08:04:50 PM
 #36

So looks like another bubble has popped and BTC is taking a nosedive dropping from 11600 to 9700 a mere 1900$ in 3 days. How long does a bear market normally last? I'm expecting atleast the full year, can it take longer?

People nowadays especially the new gamers really worried if bitcoin price went down for let's say around $1,900 in 3 days without realizing that bitcoin price also went up even way higher than the mentioned amount in just few hours or days. The only one that will mark on their mind is how the price decrease and not how much the price increase.

Come on, bitcoin price behaviour is not what you think that will always be uptrend. Even it has lots of positive speculations for long term goals, it's impossible that on the way, it will not experienced any price dips.

Rather than worrying and stressing yourself about that, just watch it calmly and patiently since Im sure you are also holding. No one knows what will happened so better put a shot in risks of holding and for the meantime you can play with other coins.

ar-Ray
Newbie
*
Offline Offline

Activity: 7
Merit: 0


View Profile
March 08, 2018, 08:09:13 PM
 #37

Right now there was no bubble and nothing has popped. The previous bottom on Feb 25 was lower than this one, so if we don't fall below that one it's still a bullish pattern. As long as the lowest points are higher as time goes by it's a good sign.
I suspect there were 2 things that might cause this dump. 1 is the news about the Gox money being put on auction and 2 is the problem with binance. When they sort it out the price will go back up.
FUDsters and enemies of bitcoin are trying to cause fluctuations, but if a majority of users don't panic, their efforts will not be as successful as it was in late January-February.
richminded
Sr. Member
****
Offline Offline

Activity: 616
Merit: 251


★Magnum Wallet★


View Profile
March 08, 2018, 09:17:34 PM
 #38

I think this is just regular panic and correction according to problems with latest binance problem. I am pretty sure markets will recover around may to july and bitcoin will reach above $20000, possibly 25000.

In addition to this, whales sold his holdings and continues to do it, I believe this is just a temporary downfall because bitcoin is on the sideways who keep on dumping and pumping. I agree that bitcoin can bounce back in the right time so don’t panic, this is now normal for bitcoin to go down after a pump.

           ▄█▀▀█▄
          █▀▄▀▀▄▀█
         ▄█▄▀▄▄█▄
  ▄▄▄▄  ██▀▀█▄▄  ▀█▄▄ ▄▄▄▄
▄█▀▄▄ ▄▀           ▀██▀▄▄▀█▄
█ █  █ ▄     ▄▄     █ █  █
▀█▄▀▀▄█▀    ████    ▀▄ █▀▄█▀
  ▀▀██▌      ▐▌       █▀
     ▀█      ██     ▄█▌
     ▄▐▌▀█▄      ▄█▀▀█▄
    █ ▄▀▀▄▀█▄▄▄▄▄▄▄▀▀▄▀█
    █▄▀▄▄▀▄█▀▀▀▀  ▀▄▄▀▄█
     ▀█▄▄█▀      ▀█▄▄█▀
       █           ▄
      ▀█▀         ▄█▄
       ▀
▄███▄▄    █
 ▄
     ▄████████▄▄
▄█▄   █████████████▄
 █
   ███████████████▄
     ████████████████▄
     █████████████████
     █████████████████
     ▐
█████████████████
      ▀██
█████████████▀
        ▀███████████▀
          ▀▀█████▀▀
| ANN     | TELEGRAM     | DISCORD     | REDDIT     | TWITTER
[ CREATE WALLET ]
maku
Legendary
*
Offline Offline

Activity: 1288
Merit: 1000



View Profile
March 08, 2018, 09:18:11 PM
 #39

Blame the news as usual - people are always reacting too harsh to any sign of bearish info.
So it is not that surprising the bitcoin dropped at the sign of problems with Binance and technical issues at BitMEX.
The recent info shared by SEC didn't help us either. We entered bullish market...
exstasie
Hero Member
*****
Offline Offline

Activity: 1064
Merit: 584


View Profile
March 08, 2018, 10:12:16 PM
 #40

Long term, I'm seeing two main possibilities.

Scenario A: My preferred outcome is that we are in a fractal like summer 2012 or late spring 2013. If so, the correction is not over, but the lows may already be in. The plunge to $6,000 may have been the A wave of a bullish triangle. Or it could have been a W wave in a WXY consolidation. Both the 2012 and 2013 fractals had WXY structure where the initial leg down was the bottom. I believe Masterluc favors the 2012 fractal.

Scenario B: The other possibility is that we are still waiting for an 80-90%+ decline from the top over 1-3 years. That the altcoin markets and Google trends are both in utter despair support that idea. Bottom at $3,000 or lower.

Either way, a 90% crash is probably coming. The question for me is, will we go to $100,000 first?! Tongue

Scenario B is a bit too much imo. There's no reason why we should see 1-3 year bear market without any big technical failure in the protocol or at least 2-3 major exchanges getting totally rekt.

2014 was a big acceptance due to Mt. Gox being the exchange leader at that time. 75% of the trading volume was on Gox back in the days.

I disagree. It's just supply and demand. Catalysts like exchange failures just speed things along.

I never bought the "MT Gox collapse caused the 2-year bear market" narrative. That was just what hodlers told themselves to weather the storm. From the perspective of Gartner hype cycles and Wyckoff market cycles, a 2-year bear market was perfectly normal after 2013. Also, I think this narrative really downplays the importance of China to the market at that time.

It would be perfectly normal now too, from the perspective of time and cyclical price action (source: 5 years as a trader). Bitcoin's bullish fundamentals do often override conventional market analysis, but not always.

Pages: « 1 [2] 3 4 »  All
  Print  
 
Jump to:  

Bitcointalk.org is not available or authorized for sale. Do not believe any fake listings.
Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!