My prediction calculation is $1400 USD, about the same as an ounce of GOLD. Which would be fine with me if BTC just settled in parity with GOLD.
What you say here? Have an opinion?
I see no possible 'moon shot' on the horizon, we're looking at a down market, people are cash-poor, deep in debt and shit is going down all over the world, thus there is no new source of funds to flow to BTC.
The whales are NOT done unloading, the whales are NOT idiots, HODL is for morons, billionaires ( whales ) didn't get rich by being morons.
what is the $1400 calculation based on? or the $1000 level you cited further down in your post? just a general belief that all gains from the 2017 bull run must be wiped out?
that might be a reasonable assumption, if not for bitcoin's historic trend. i try to trade with the trend, rather than against it. now that we've corrected more than 82% from the ATH, we're reaching levels where it's pretty dangerous to keep shorting.
It's just the previous MtGox peak resistance.. other people may have more complex models but that's about it, I think some are just looking to retest that peak again as the ideal entry point, however as you said we are already oversold so any further dips will be very fast and short-lived, so the opportunity to buy on these will be for the very lucky few that catch it with perfect timing, not worth it. $2900 would hit the 87% crash since the Dec 2017 peak, which means it would be the same as MtGox fall from $1300 ish to $150, but some other crashes were around 80% (see pic I posted earlier). Anything after 80% crash is high risk that it starts going up and you keep holding fiat waiting for a perfect entry point that never arrives. So if I was still on fiat, I would be buying already, and buying monthly in case it case it goes lower.