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Author Topic: It could take 6-24 months for Bitcoin to return to its level- Charlie Lee  (Read 255 times)
tee-rex
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September 17, 2018, 05:48:29 AM
 #61

usually bitcoin bear market will be for more than 2 years even the last bear market is same period so we can expect slow growth in this period

You're wrong about that. There's no usually because Bitcoin does not have its usual behavior yet. We only had one big bull market followed by one big bear market. It took two years because the situation of Bitcoin was looking really bad with MtGox going bankrupt, so many cloud mining scams. Real mining companies going bust, China blocking bitcoin to fiat transfers. It was much worse than it is now.

But haven't we already established a pattern in the bitcoin behavior? In the beginning of a cycle bitcoin slowly rises, which looks like natural, organic growth, if these terms are ever applicable to speculative assets in general and bitcoin specifically. This lasts about a year or so, maybe a little less than that. Then a fast-growth phase starts, which lasts for 2-3 months within which bitcoin rises a few times. After that comes a crash and the price drops within a few weeks. And in the end of the cycle bitcoin stagnates for about a year and a half.

Now we are in the stagnating phase which is going to last for another 7-8 months, which will slowly turn into a slow but somewhat accelerating growth again. Figuratively speaking, we are in the "dark ages" now.

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September 17, 2018, 05:53:09 AM
 #62

I believe it is a reasonable guess. We need to know that to restore the Crypto market is very difficult. Because this is a market where there is always manipulation and the value of each altcoins is unclear. Besides, there is too much bad news about Crypto that makes the recovery path more difficult than ever. so it takes a long time to get back to 20k $

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September 29, 2018, 02:12:16 PM
 #63

Many people give price estimates and explain to Bitcoin and other electronic money. I expect 3-6 months for a solid base of $ 10- $ 15k, with huge spikes to $ 30- $ 40k sometime during that time. Charle-lee like everyone else does nothing more than speculate on price. I do not think so, I think the price will start to rise and win the next stage
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September 29, 2018, 03:22:35 PM
 #64

I completely agree with your his opinion. For most of amateur investors, Bitcoin price will pump at the time you never imagine, and when you awake, it claim the top of price. So, you should spend a part of your fund to hold BTC and wait.


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September 29, 2018, 03:41:30 PM
 #65

I believe it is a reasonable guess. We need to know that to restore the Crypto market is very difficult. Because this is a market where there is always manipulation and the value of each altcoins is unclear. Besides, there is too much bad news about Crypto that makes the recovery path more difficult than ever. so it takes a long time to get back to 20k $

For altcoins, its going to be hard for them to recover because so many are competing and besides majority are scams anyways. Just look at the state of ETH right now, it has lost as much as 90% so its going to be a long road for recovery.

Bitcoin though is different, bulrun might be around the corner. Just one news will trigger a break out and who knows, we might see another all-time-high at the end of the year. There's still the ETF and Bakkt physical bitcoin future contract offerings as well.

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September 29, 2018, 05:39:04 PM
 #66

For altcoins, its going to be hard for them to recover because so many are competing and besides majority are scams anyways. Just look at the state of ETH right now, it has lost as much as 90% so its going to be a long road for recovery.

Bitcoin though is different, bulrun might be around the corner. Just one news will trigger a break out and who knows, we might see another all-time-high at the end of the year. There's still the ETF and Bakkt physical bitcoin future contract offerings as well.

From my point of view, I don't expect the bullrun for bitcoin waiting just around the corner, let alone seeing another ATH at the end of the year. But we don't need that as it would be detrimental to bitcoin because it will end up in absolutely the same crash. We need organic growth, steady and consistent, which would match the growth in bitcoin's application. We don't need rampant speculation anymore, at least not with bitcoin. If someone needs that, let them stick with altcoins, though I agree with you that the majority of altcoins are scams and they won't survive for long, apart from a few die-hard coins like doges and well-established coins like litecoin as their right to exist has been proven through years.

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