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Author Topic: Bitcoin may still drop a lot more before starting a reaction, says expert  (Read 84 times)
dioneparaiso
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March 16, 2018, 02:31:45 PM
 #1

One of Bitcoin's biggest enthusiasts and the first Wall Street analyst to do criptomoedas reports,
Tom Lee said in a report last Thursday (15) that the price collapse earlier this year should
Continue. For the founder of Fundstrat Global Advisors, the digital currency will only begin to show signs of
reaction when hit the bottom of $ 5,873.
"When the feeling is weak, the market gets more and more 'first do, then think', which means that
any news today is likely to trigger a sale, "Lee said in a report signed with
Robert Sluymer. Last month, Lee had already said he sees the bitcoin firing for $ 20,000 up to half
of the year.
The news about market regulation discussions around the world is heavy on the market, in addition to the
recent decisions by Facebook and Google to ban crypto-currency ads on their platforms.
However, other factors help to understand the recent falls, including the history of the criptomoeda itself.
Currently, bitcoin is traded at a mining cost of $ 8,038, based on a model of the
data scientists at Fundtrat Sam Doctor and Ken Xuan. The digital currency reached its bottom in 2015,
when it was in the same relative multiple of mining costs that today, and reached its peak in 2013,
when it was at 21 times its mining costs.
In addition, March is seasonally the worst month for Bitcoin, with the world's largest crypto-currency
has risen only once in the last seven years. On the other hand, April has proved to be one of the strongest months
of the year in historical prices, with five monthly highs in seven years.
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atlantis123
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March 16, 2018, 02:36:54 PM
 #2

I have read different articles that state it will go up a little from here and then drop to about 5K
Also the Japanese liquidater has many more btc to sell
It is no a good picture!
acha1217
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March 16, 2018, 05:45:35 PM
 #3

I think Bitcoin will be increases in a half of this year, because I have read many good news, which they says some goverment will legalize bitcoin, so this will be bring good effect for bitcoin price later. but should be patien to waiting for it
if you want to buy Bitcoin, better buy now when the price will be back normal again, and you will get big profit after you sell your coin in high price .
of wee look about the forecast about bitcoin later, that's maybe only 50% right, because no one can manage bitcoin price. we never know how bitcoin in future. thank you
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March 16, 2018, 05:50:44 PM
 #4

Well, almost every newspaper predicts an other price for BTC, ranging from 100k to 800$. In fact no one knows. Personally, I don't think we will see 20k in the next couple of months but I believe BTC will reach an ATH this year.

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atlantis123
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March 29, 2018, 08:40:22 AM
 #5

Experts say it is going up and experts say it is going down
Who Knows?
Some guys claim to be chart experts and they cant get it right
X-ray
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March 29, 2018, 09:41:47 AM
 #6

Experts say it is going up and experts say it is going down
Who Knows?
Some guys claim to be chart experts and they cant get it right
Latest news about two bitcoin exchange sites in the japan shutdown the service gives another bad news to the bitcoin's trend and it looks like the market just give a reaction to drive the trend into the red candle.
Someone able to claim if he was an expert in the crypto speculation. many incompetence person has tried to do this but they were all going wrong about everything.

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nguyenhoven
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March 29, 2018, 09:44:15 AM
 #7

One of Bitcoin's biggest enthusiasts and the first Wall Street analyst to do criptomoedas reports,
Tom Lee said in a report last Thursday (15) that the price collapse earlier this year should
Continue. For the founder of Fundstrat Global Advisors, the digital currency will only begin to show signs of
reaction when hit the bottom of $ 5,873.
"When the feeling is weak, the market gets more and more 'first do, then think', which means that
any news today is likely to trigger a sale, "Lee said in a report signed with
Robert Sluymer. Last month, Lee had already said he sees the bitcoin firing for $ 20,000 up to half
of the year.
The news about market regulation discussions around the world is heavy on the market, in addition to the
recent decisions by Facebook and Google to ban crypto-currency ads on their platforms.
However, other factors help to understand the recent falls, including the history of the criptomoeda itself.
Currently, bitcoin is traded at a mining cost of $ 8,038, based on a model of the
data scientists at Fundtrat Sam Doctor and Ken Xuan. The digital currency reached its bottom in 2015,
when it was in the same relative multiple of mining costs that today, and reached its peak in 2013,
when it was at 21 times its mining costs.
In addition, March is seasonally the worst month for Bitcoin, with the world's largest crypto-currency
has risen only once in the last seven years. On the other hand, April has proved to be one of the strongest months
of the year in historical prices, with five monthly highs in seven years.

we have many experts who are saying many things. Most important for us believers in the technology not to worry about it and do not react on panic in the market because of price drop.

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atlantis123
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March 29, 2018, 09:45:10 AM
 #8

Experts say it is going up and experts say it is going down
Who Knows?
Some guys claim to be chart experts and they cant get it right
Latest news about two bitcoin exchange sites in the japan shutdown the service gives another bad news to the bitcoin's trend and it looks like the market just give a reaction to drive the trend into the red candle.
Someone able to claim if he was an expert in the crypto speculation. many incompetence person has tried to do this but they were all going wrong about everything.


2 more exchanges in Japan? Really, does anyone have the details
atlantis123
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March 29, 2018, 09:47:05 AM
 #9

Experts say it is going up and experts say it is going down
Who Knows?
Some guys claim to be chart experts and they cant get it right
Latest news about two bitcoin exchange sites in the japan shutdown the service gives another bad news to the bitcoin's trend and it looks like the market just give a reaction to drive the trend into the red candle.
Someone able to claim if he was an expert in the crypto speculation. many incompetence person has tried to do this but they were all going wrong about everything.


2 more exchanges in Japan? Really, does anyone have the details

Found it:

https://www.coindesk.com/report-2-japanese-crypto-exchanges-shut/

Yes, more bad NEWS
macit800
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March 29, 2018, 11:12:33 AM
 #10

Negative news about exchanges is not new for the cryptoworld. I hope that this bearish market will change in green in a very short time.

housebtc
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March 29, 2018, 11:13:21 AM
 #11

I think this some of the pains of an emerging market. for me the fundamentals surrounding BTC is very solid and sound now especially with the launch of Lighting networks, if all these negativity that clouded the space is gone these good development will drive the price because anyone buying BTC now is buying at discount
krauzzer02
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March 29, 2018, 11:23:45 AM
 #12

Experts say it is going up and experts say it is going down
Who Knows?
Some guys claim to be chart experts and they cant get it right
They are just speculating the movement of the market price based on their analysis of the recent events on cryptocurrency and the current situations, for example, the bans on ads from the social media giants and Google will make an impact that would be added to their speculation and some incidents that cycle every year, some of them are just self proclaimed experts just to make people believe their guesses, everyone can make their own hypothesis and conjecture.
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