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Author Topic: A new ATH  (Read 308 times)
aoluain
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May 28, 2018, 08:15:05 PM
 #1

In my time on BCT my opinion is that the negativity towards bitcoin is at an ATH.
The amount of threads spreading FUD and negativity are growing the longer
bitcoin fails to deliver the great expectations of some people.

It seems to me that the fact bitcoin reached $20k there are people acting like
spoiled children who demand their wants immediately and so are willing to throw
the toy out or smash the sand castle because their wills are not met now.

There are times when we need to visit the whitepaper to realise what it was all
invented for and to have patience.

https://bitcoin.org/bitcoin.pdf

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May 28, 2018, 08:24:10 PM
Merited by Wind_FURY (1)
 #2

all that really matters when it comes to the price that people should ever care about. is not the 10 minute fluke events of ATH..
but simply this:

2016 bitcoin never dropped below $300
2017 bitcoin never dropped below $900
2018 bitcoin hasnt dropped below $6000

once you grasp that mindset. people can learn to chill

I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.
Don't take any information given on this forum on face value. Please do your own due diligence & respect what is written here as both opinion & information gleaned from experience. If you wish to seek legal FACTUAL advice, then seek the guidance of a LEGAL specialist.
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May 28, 2018, 08:38:37 PM
 #3

It seems to me that the fact bitcoin reached $20k there are people acting like
spoiled children who demand their wants immediately

A lot of young people, many not educated enough in what crypto market means, were caught by FOMO and bought Bitcoin.
Many of those have lost money (actually they'll lose money only if they sell) or at least have found their dreams for getting Lambo in a month shattered.
And now they are lost and crying.

A lot of young people are paid to cry in various ways to give the impression that everything went wrong and people have to sell - or buy - depending on what the master of puppets demands. It's market manipulation.

The result is that many are acting bad indeed, but that's only a minority imho. A vocal one, clearly, still a minority.

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aoluain
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May 28, 2018, 09:00:00 PM
 #4

all that really matters when it comes to the price that people should ever care about. is not the 10 minute fluke events of ATH..
but simply this:

2016 bitcoin never dropped below $300
2017 bitcoin never dropped below $900
2018 bitcoin hasnt dropped below $6000

once you grasp that mindset. people can learnt to chill

Correct, those numbers speak for themselves. I wonder if this time next
year they will look something like this?

2016 bitcoin never dropped below $300
2017 bitcoin never dropped below $900
2018 bitcoin hasnt dropped below $6000
2019 Bitcoin hasnt dropped below $12000


It seems to me that the fact bitcoin reached $20k there are people acting like
spoiled children who demand their wants immediately

A lot of young people, many not educated enough in what crypto market means, were caught by FOMO and bought Bitcoin.
Many of those have lost money (actually they'll lose money only if they sell) or at least have found their dreams for getting Lambo in a month shattered.
And now they are lost and crying.

A lot of young people are paid to cry in various ways to give the impression that everything went wrong and people have to sell - or buy - depending on what the master of puppets demands. It's market manipulation.

The result is that many are acting bad indeed, but that's only a minority imho. A vocal one, clearly, still a minority.

For a lot of people in December 2017 it was all looking a bit too easy, there just
was not going to be an end to the crypto climb and the key is the loss will be
actual if those expensive bitcoin are sold.

I fear though that a lot may have been bought on credit.



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May 29, 2018, 07:44:20 AM
 #5

all that really matters when it comes to the price that people should ever care about. is not the 10 minute fluke events of ATH..
but simply this:

2016 bitcoin never dropped below $300
2017 bitcoin never dropped below $900
2018 bitcoin hasnt dropped below $6000

once you grasp that mindset. people can learnt to chill

Plus their minds have not yet registered how lucky everyone they are in having another opportunity in buying Bitcoin below $10,000. I hope it stays below it for some time. Cool


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May 29, 2018, 08:00:25 AM
 #6

Plus their minds have not yet registered how lucky everyone they are in having another opportunity in buying Bitcoin below $10,000.
It has not much to do with luck. The market went up way too fast in such a short period of time, so just a bit of patience was enough to welcome back sub $10,000 levels. It was bound to come down after an empty rally that was focused solely on the future markets. It's just a matter of logical thinking. The price would either bottom just around $5000 or just above $5500 and the latter was the case. The market was extremely overbought.

I hope it stays below it for some time. Cool
Don't worry, you'll have enough sub $10,000 buying opportunities for plenty of more months, I would say till somewhere in Q4 of this year. It's perfect if you plan to accumulate coins through a longer period of time. Eventually the market will fire up again. Smart people accumulate, where not so smart ones sell and keep moaning about the 'massive bear' market.

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May 29, 2018, 09:09:07 AM
 #7

Plus their minds have not yet registered how lucky everyone they are in having another opportunity in buying Bitcoin below $10,000. I hope it stays below it for some time. Cool

id say with ASIC mining costs to mine a btc coming down. (some pools are already using the next gen ASICS, which are going to have a public batch release in june), that as long as the network hashrate is below 90exahash you will se many pools/mining groups happy to sell below $10k, so chances are (without a speculative pump) prices could stay down for a while

I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.
Don't take any information given on this forum on face value. Please do your own due diligence & respect what is written here as both opinion & information gleaned from experience. If you wish to seek legal FACTUAL advice, then seek the guidance of a LEGAL specialist.
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May 29, 2018, 10:51:01 PM
 #8

In my time on BCT my opinion is that the negativity towards bitcoin is at an ATH.
The amount of threads spreading FUD and negativity are growing the longer
bitcoin fails to deliver the great expectations of some people.

It seems to me that the fact bitcoin reached $20k there are people acting like
spoiled children who demand their wants immediately and so are willing to throw
the toy out or smash the sand castle because their wills are not met now.

There are times when we need to visit the whitepaper to realise what it was all
invented for and to have patience.

https://bitcoin.org/bitcoin.pdf

Bitcoin isn't designed to make people rich overnight. The gains that bitcoin has made is merely a byproduct of the fact that adoption has been increasing drastically over the past few years.

And from a purely trading point of view, there is simply no chance that bitcoin is going to continue to go up consistently over a period of time. That's completely illogical. Cycles are going to happen, and right now, it just happens that we're in the bear phase of the cycle.

I actually see a lot of people panic selling right now as a result of the decreased prices, which doesn't make any sense. If you truly believe in what bitcoin can bring as well as its potential in the future, then you shouldn't even be this concerned about the short term price movements, unless you're looking to accumulate.

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May 29, 2018, 11:08:46 PM
 #9

2016 bitcoin never dropped below $300
2017 bitcoin never dropped below $900
2018 bitcoin hasnt dropped below $6000
2019 Bitcoin hasnt dropped below $12000


2018 and 2019 can be both under $6000.  2020 cant anymore.  But I agree, ATH is really so momentum event that no one really catch it.

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May 30, 2018, 06:04:37 AM
 #10

Plus their minds have not yet registered how lucky everyone they are in having another opportunity in buying Bitcoin below $10,000. I hope it stays below it for some time. Cool

id say with ASIC mining costs to mine a btc coming down. (some pools are already using the next gen ASICS, which are going to have a public batch release in june), that as long as the network hashrate is below 90exahash you will se many pools/mining groups happy to sell below $10k, so chances are (without a speculative pump) prices could stay down for a while

But some people do not fully understand how higher costs in mining is also advantageous to the security of the network. All the nocoiner journalists report in the news is how "wasteful" mining is and how high the costs of maintaining a "ledger" is.

Securing a decentralzed and censorship resistant ledger will always come at a cost. The nocoiners should understand this.


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May 30, 2018, 06:20:07 AM
Merited by NeuroticFish (1)
 #11

In my time on BCT my opinion is that the negativity towards bitcoin is at an ATH.
The amount of threads spreading FUD and negativity are growing the longer
bitcoin fails to deliver the great expectations of some people.

nah. there is a lot of FUD around and it is growing each day because price is not rising but it is far from its ATH. the maximum level of FUD will be when price reaches the bottom and doesn't go any lower any longer and probably when it reverses and starts rising right after the bottom.
that is the time when everyone who missed the chance to buy at the bottom, or wanted a lower price to buy at start spreading nonsense in the name of FUD thinking they can achieve their dreams.

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May 30, 2018, 11:15:05 AM
 #12

Securing a decentralzed and censorship resistant ledger will always come at a cost. The nocoiners should understand this.
The problem is that those nocoiner journalists will not try to understand it because they don't want to. They simply chose the bliss of ignorance and wants to stick with traditional censored ledgers.
~snip~
once you grasp that mindset. people can learn to chill
People cannot learn to chill(especially those new in the market) because of nocoiner journalist being more active to report a bitcoin dump than reporting a good news related to crypto in general. Most of those who cannot chill panics every time they see one report or two that is like this and easily believes on the predictions included in the article.
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May 30, 2018, 11:24:29 AM
 #13

In my time on BCT my opinion is that the negativity towards bitcoin is at an ATH.

You signed up just as things started to take off properly. You were spoiled until this year of course. I signed up October 2013 so had a month or two of 'fuck me, does it always do this?' followed by years of reaming.

Current sentiment is fine. There's barely a fraction of the real doom that 2014/15 fostered. At that point it was still possible to believe it was going to dwindle to nothing. Technical disaster aside, that looks far more remote these days.

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May 30, 2018, 11:41:12 AM
Merited by Lucius (1)
 #14

Just in case you haven't notice people who are posting threads about negativity are members who have ranks "Members" and below it. This gives us a clue that they are just new people who just have entered in the market because of the recent buzz it created by Bitcoin and other cryptocurrencies on their past rally on December. Of course right now we are in a bear market and they don't know what to do, a lot of them have cut their losses and some of them are holding BTC with a paper loss on their portfolio, these people who experienced the bloody market on their first time don't have anything good to say to BTC.

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May 30, 2018, 11:47:04 AM
 #15

all that really matters when it comes to the price that people should ever care about. is not the 10 minute fluke events of ATH..
but simply this:

2016 bitcoin never dropped below $300
2017 bitcoin never dropped below $900
2018 bitcoin hasnt dropped below $6000

once you grasp that mindset. people can learnt to chill

Plus their minds have not yet registered how lucky everyone they are in having another opportunity in buying Bitcoin below $10,000. I hope it stays below it for some time. Cool

2018 will still be a another great year for bitcoin, we have to live patiently. The market will continue to go down in the coming years but it will be in a different level. People will realize the importance of holding on with this great coins. Bitcoin will help me to achieve my goal this year no matter what negatives news about bitcoin, I still believe on it.

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May 30, 2018, 01:08:31 PM
 #16

Just in case you haven't notice people who are posting threads about negativity are members who have ranks "Members" and below it. This gives us a clue that they are just new people who just have entered in the market because of the recent buzz it created by Bitcoin and other cryptocurrencies on their past rally on December. Of course right now we are in a bear market and they don't know what to do, a lot of them have cut their losses and some of them are holding BTC with a paper loss on their portfolio, these people who experienced the bloody market on their first time don't have anything good to say to BTC.

This is true, I also notice that, many of them are burned in their expectations to get rich overnight and today price is for them like game over/dead Bitcoin. They just need to change their thinking and look on things from another perspective, time will come when price will be even bigger then in December 2017. I guess some will bring a similar conclusion to themselves, but there is also those who will always write and think negatively.

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May 30, 2018, 03:40:44 PM
 #17

2016 bitcoin never dropped below $300
2017 bitcoin never dropped below $900
2018 bitcoin hasnt dropped below $6000
2019 Bitcoin hasnt dropped below $12000


2018 and 2019 can be both under $6000.  2020 cant anymore.  But I agree, ATH is really so momentum event that no one really catch it.

I agree with this sentiment, and I actually think this is the likely outcome. Surely BTC will drop below $6k. It has tested that range twice, and I am certain it will happen again. Early 2020 is when the block halving happens, so it is very possible we will see a new ATH at the end of 2020.


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May 30, 2018, 05:26:29 PM
 #18

Most people who came in late in the game only regard bitcoin as a means to get rich quickly and those who complain about the low prices without understanding the economic state of bitcoin. Bitcoin might possess the characteristics of a balloon but it's not that easy to inflate it once it gets deflated. There needs to be a period wherein all the gains would be redeemed or 'corrected' before it goes crazy all over again. If only these people direct their attention towardsa higher bottom, they wouldn't bother much about the ATH.

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May 30, 2018, 06:12:40 PM
 #19

Just in case you haven't notice people who are posting threads about negativity are members who have ranks "Members" and below it. This gives us a clue that they are just new people who just have entered in the market because of the recent buzz it created by Bitcoin and other cryptocurrencies on their past rally on December. Of course right now we are in a bear market and they don't know what to do, a lot of them have cut their losses and some of them are holding BTC with a paper loss on their portfolio, these people who experienced the bloody market on their first time don't have anything good to say to BTC.

This is true, I also notice that, many of them are burned in their expectations to get rich overnight and today price is for them like game over/dead Bitcoin. They just need to change their thinking and look on things from another perspective, time will come when price will be even bigger then in December 2017. I guess some will bring a similar conclusion to themselves, but there is also those who will always write and think negatively.

Yes this is what i mentioned above in a cynical sort of way, there have been
great expectations from nearly all newcomers to the forum. Anyone who has
been around for over 8 months or so on the forum will be more in tune with
what bitcoin markets do.

It can be quite frustrating i imagine if you have financed you bitcoin investment,
something we know now is a big no no.

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May 30, 2018, 06:37:11 PM
 #20

2016 bitcoin never dropped below $300
2017 bitcoin never dropped below $900
2018 bitcoin hasnt dropped below $6000
2019 Bitcoin hasnt dropped below $12000


2018 and 2019 can be both under $6000.  2020 cant anymore.  But I agree, ATH is really so momentum event that no one really catch it.

I agree with this sentiment, and I actually think this is the likely outcome. Surely BTC will drop below $6k. It has tested that range twice, and I am certain it will happen again. Early 2020 is when the block halving happens, so it is very possible we will see a new ATH at the end of 2020.
Why does it surely have to drop below 6k? If anything I would be bullish when it nears 6k as that to me seems like a great support line. Combine that with the fact the hashrate has been ever increasing since December and you have a lot of bullish signs. I am not convinced of this drop that will happen to 1k and will only believe it when I see it due to the heavy support present at 6k.

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