Bitcoin Price Will Likely Fall to $1,500: Bloomberg Analyst

[jadenunderhill]

Let them keep on talking while Bitcoin doesn't really care about what these so-called experts are talking. Rising or falling it doesn't matter anyway, Bitcoin price is still stable at this rate. They will all be another story that will be written in the history again, Bitcoin will survive and no, it is not dying.

Doesnt't care, yeah. We are at 3 200 and going down fast.  And yes, it will not die. For enthusiasts like in this forum and may be some criminals. But for most common investors it is already half dead. If it really will go below 3 000, it will be a full capitulation. And it will take 3-4 years then the price will return even to 6 000 level. Or may be it will never return..

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[thecodebear]

Let them keep on talking while Bitcoin doesn't really care about what these so-called experts are talking. Rising or falling it doesn't matter anyway, Bitcoin price is still stable at this rate. They will all be another story that will be written in the history again, Bitcoin will survive and no, it is not dying.

Doesnt't care, yeah. We are at 3 200 and going down fast.  And yes, it will not die. For enthusiasts like in this forum and may be some criminals. But for most common investors it is already half dead. If it really will go below 3 000, it will be a full capitulation. And it will take 3-4 years then the price will return even to 6 000 level. Or may be it will never return..

And you could have said the same thing 4 years ago, and been dead wrong. No reason to think this is any different than any other Bitcoin crash. I'd say the only difference is that instead of having nothing on the horizon four years ago as everyone abandoned Bitcoin, this time around we have multiple Wall St firms building exchanges and custody solutions and trading desks and whatnot to offer Bitcoin to a whole new group of people that have a TON of money.

When retail investors come back to the Bitcoin market in say two years they're just gonna find it a hell of a lot harder to buy Bitcoin because big money will already have eaten up MILLIONS of bitcoin by then. Institutions have already bought up hundreds of thousands of Bitcoin from panic selling noobs this year. Smart retail investors are doing the same thing, buying as much as they can from panic selling noobs to accumulate cheap Bitcoin now.

[jadenunderhill]

Let them keep on talking while Bitcoin doesn't really care about what these so-called experts are talking. Rising or falling it doesn't matter anyway, Bitcoin price is still stable at this rate. They will all be another story that will be written in the history again, Bitcoin will survive and no, it is not dying.

Doesnt't care, yeah. We are at 3 200 and going down fast.  And yes, it will not die. For enthusiasts like in this forum and may be some criminals. But for most common investors it is already half dead. If it really will go below 3 000, it will be a full capitulation. And it will take 3-4 years then the price will return even to 6 000 level. Or may be it will never return..

And you could have said the same thing 4 years ago, and been dead wrong. No reason to think this is any different than any other Bitcoin crash. I'd say the only difference is that instead of having nothing on the horizon four years ago as everyone abandoned Bitcoin, this time around we have multiple Wall St firms building exchanges and custody solutions and trading desks and whatnot to offer Bitcoin to a whole new group of people that have a TON of money.

When retail investors come back to the Bitcoin market in say two years they're just gonna find it a hell of a lot harder to buy Bitcoin because big money will already have eaten up MILLIONS of bitcoin by then. Institutions have already bought up hundreds of thousands of Bitcoin from panic selling noobs this year. Smart retail investors are doing the same thing, buying as much as they can from panic selling noobs to accumulate cheap Bitcoin now.

Well, in my opinion this crash is different. Because of Wall St firms you mentioned. When it was millions of dollars, yes, there were many individuals. And many of them were believers of new tech. Others wanted to hiide their payments. They can sale because of panic, because they need fiat right now. But Wall Street is different. Today they are playing with bitcoins, tomorrow with gold and after that with some derivatives or orange juice. They can leave some market very fast (in fact, this is happening right now). For them it is just another of thousands markets. And if they lose trust in crypto, well they can return in years or decades. Another problem is adoption. Many retailers refused Bitcoin this year, even Stripe. And the worst is the world crisis that many economists predict in 2019-2020. In every crisis, such instruction investors will leave high-risk markets. It is a rule.
I’m surprised that everybody if this forum are making analogies to past crashes. How many crashes Bitcoin had before? 3-4? Why everybody think that if something happened 4 times, it will be the same this time? Everybody talking of butcoin as a currency. But it is not. May be it will become a world currency and maybe not. Over the past 3 years, Bitcoin has not come close to becoming a currency, but is has become a high volatile speculative asset.

[The Sceptical Chymist]

On the flip side, there is still the $15,000 end of year forecast from Tom Lee, though that target appears less likely by the day.

Yeah, I doubt that's going to happen.  I also doubt bitcoin is going to be near $1500 by the end of the year, nor do I think it's going much further in that direction.  These TA people drive me nuts with their predictions, and more often than not they're wrong.  Bitcoin prognosticators are even less accurate than weather forecasters, and that's saying something.

[thecodebear]

Let them keep on talking while Bitcoin doesn't really care about what these so-called experts are talking. Rising or falling it doesn't matter anyway, Bitcoin price is still stable at this rate. They will all be another story that will be written in the history again, Bitcoin will survive and no, it is not dying.

Doesnt't care, yeah. We are at 3 200 and going down fast.  And yes, it will not die. For enthusiasts like in this forum and may be some criminals. But for most common investors it is already half dead. If it really will go below 3 000, it will be a full capitulation. And it will take 3-4 years then the price will return even to 6 000 level. Or may be it will never return..

And you could have said the same thing 4 years ago, and been dead wrong. No reason to think this is any different than any other Bitcoin crash. I'd say the only difference is that instead of having nothing on the horizon four years ago as everyone abandoned Bitcoin, this time around we have multiple Wall St firms building exchanges and custody solutions and trading desks and whatnot to offer Bitcoin to a whole new group of people that have a TON of money.

When retail investors come back to the Bitcoin market in say two years they're just gonna find it a hell of a lot harder to buy Bitcoin because big money will already have eaten up MILLIONS of bitcoin by then. Institutions have already bought up hundreds of thousands of Bitcoin from panic selling noobs this year. Smart retail investors are doing the same thing, buying as much as they can from panic selling noobs to accumulate cheap Bitcoin now.

Well, in my opinion this crash is different. Because of Wall St firms you mentioned. When it was millions of dollars, yes, there were many individuals. And many of them were believers of new tech. Others wanted to hiide their payments. They can sale because of panic, because they need fiat right now. But Wall Street is different. Today they are playing with bitcoins, tomorrow with gold and after that with some derivatives or orange juice. They can leave some market very fast (in fact, this is happening right now). For them it is just another of thousands markets. And if they lose trust in crypto, well they can return in years or decades. Another problem is adoption. Many retailers refused Bitcoin this year, even Stripe. And the worst is the world crisis that many economists predict in 2019-2020. In every crisis, such instruction investors will leave high-risk markets. It is a rule.
I’m surprised that everybody if this forum are making analogies to past crashes. How many crashes Bitcoin had before? 3-4? Why everybody think that if something happened 4 times, it will be the same this time? Everybody talking of butcoin as a currency. But it is not. May be it will become a world currency and maybe not. Over the past 3 years, Bitcoin has not come close to becoming a currency, but is has become a high volatile speculative asset.

The golden rule of investing (well one of them): no, this time isn't different.

People thought the same way you are when Bitcoin was $200 in 2015 (I was one of them).
And Wall St has barely entered the market. So not sure why you are saying that somehow that makes this crash different.

Generally the worst thing you can do is assume that this time is different. The last boom wasn't different than any other boom, and people who thought the price would just keep going up and never crash were wrong cuz they decided "this time is different", and you are doing the same thing now.

But hey, all it means is that you're gonna miss getting in at the bottom of this cycle. Doesn't bother those of us who are loading up accumulating cheap Bitcoin now.

[figmentofmyass]

On the flip side, there is still the $15,000 end of year forecast from Tom Lee, though that target appears less likely by the day.

Yeah, I doubt that's going to happen.  I also doubt bitcoin is going to be near $1500 by the end of the year, nor do I think it's going much further in that direction.  These TA people drive me nuts with their predictions, and more often than not they're wrong.  Bitcoin prognosticators are even less accurate than weather forecasters, and that's saying something.

most price predictions are always going to be wrong. even if one eventually gets it right, timing it is nearly impossible. i wouldn't conflate prediction with TA though. the ability to predict exact prices isn't what TA is useful for. it's useful for things like establishing trend direction and price levels where high volume exchanges took place. TA isn't about crystal balls---we can't know which level price will stop at. but it can give us an edge in recognizing when the market is reversing and why.

also, haven't you noticed how much better weather forecasters have gotten in the last several years? they were a joke when i was a kid, but they're pretty accurate now.

[jadenunderhill]

Let them keep on talking while Bitcoin doesn't really care about what these so-called experts are talking. Rising or falling it doesn't matter anyway, Bitcoin price is still stable at this rate. They will all be another story that will be written in the history again, Bitcoin will survive and no, it is not dying.

Doesnt't care, yeah. We are at 3 200 and going down fast.  And yes, it will not die. For enthusiasts like in this forum and may be some criminals. But for most common investors it is already half dead. If it really will go below 3 000, it will be a full capitulation. And it will take 3-4 years then the price will return even to 6 000 level. Or may be it will never return..

And you could have said the same thing 4 years ago, and been dead wrong. No reason to think this is any different than any other Bitcoin crash. I'd say the only difference is that instead of having nothing on the horizon four years ago as everyone abandoned Bitcoin, this time around we have multiple Wall St firms building exchanges and custody solutions and trading desks and whatnot to offer Bitcoin to a whole new group of people that have a TON of money.

When retail investors come back to the Bitcoin market in say two years they're just gonna find it a hell of a lot harder to buy Bitcoin because big money will already have eaten up MILLIONS of bitcoin by then. Institutions have already bought up hundreds of thousands of Bitcoin from panic selling noobs this year. Smart retail investors are doing the same thing, buying as much as they can from panic selling noobs to accumulate cheap Bitcoin now.

Well, in my opinion this crash is different. Because of Wall St firms you mentioned. When it was millions of dollars, yes, there were many individuals. And many of them were believers of new tech. Others wanted to hiide their payments. They can sale because of panic, because they need fiat right now. But Wall Street is different. Today they are playing with bitcoins, tomorrow with gold and after that with some derivatives or orange juice. They can leave some market very fast (in fact, this is happening right now). For them it is just another of thousands markets. And if they lose trust in crypto, well they can return in years or decades. Another problem is adoption. Many retailers refused Bitcoin this year, even Stripe. And the worst is the world crisis that many economists predict in 2019-2020. In every crisis, such instruction investors will leave high-risk markets. It is a rule.
I’m surprised that everybody if this forum are making analogies to past crashes. How many crashes Bitcoin had before? 3-4? Why everybody think that if something happened 4 times, it will be the same this time? Everybody talking of butcoin as a currency. But it is not. May be it will become a world currency and maybe not. Over the past 3 years, Bitcoin has not come close to becoming a currency, but is has become a high volatile speculative asset.

The golden rule of investing (well one of them): no, this time isn't different.

People thought the same way you are when Bitcoin was $200 in 2015 (I was one of them).
And Wall St has barely entered the market. So not sure why you are saying that somehow that makes this crash different.

Generally the worst thing you can do is assume that this time is different. The last boom wasn't different than any other boom, and people who thought the price would just keep going up and never crash were wrong cuz they decided "this time is different", and you are doing the same thing now.

But hey, all it means is that you're gonna miss getting in at the bottom of this cycle. Doesn't bother those of us who are loading up accumulating cheap Bitcoin now.

The time will show. But 17 years ago when DotComs crashed, many people had said the same, “no, this time isn't different”. And lost everything.

[tokeweed]

Lololol.  Needs more love.

[xuan87]

People can said and predicted anything about crypto but most of the time the prediction is only based on history data, crypto currencies are unique coin, they are decentralized coins, if all of us want to cooperate and got the same mind then we can break any limit, but the problem now is the whales prefer to manipulated it for their own profit and the investors run away once they saw the price keep on declining,if this situation keep on continue we will see a more horrible bottom

[thecodebear]

Let them keep on talking while Bitcoin doesn't really care about what these so-called experts are talking. Rising or falling it doesn't matter anyway, Bitcoin price is still stable at this rate. They will all be another story that will be written in the history again, Bitcoin will survive and no, it is not dying.

Doesnt't care, yeah. We are at 3 200 and going down fast.  And yes, it will not die. For enthusiasts like in this forum and may be some criminals. But for most common investors it is already half dead. If it really will go below 3 000, it will be a full capitulation. And it will take 3-4 years then the price will return even to 6 000 level. Or may be it will never return..

And you could have said the same thing 4 years ago, and been dead wrong. No reason to think this is any different than any other Bitcoin crash. I'd say the only difference is that instead of having nothing on the horizon four years ago as everyone abandoned Bitcoin, this time around we have multiple Wall St firms building exchanges and custody solutions and trading desks and whatnot to offer Bitcoin to a whole new group of people that have a TON of money.

When retail investors come back to the Bitcoin market in say two years they're just gonna find it a hell of a lot harder to buy Bitcoin because big money will already have eaten up MILLIONS of bitcoin by then. Institutions have already bought up hundreds of thousands of Bitcoin from panic selling noobs this year. Smart retail investors are doing the same thing, buying as much as they can from panic selling noobs to accumulate cheap Bitcoin now.

Well, in my opinion this crash is different. Because of Wall St firms you mentioned. When it was millions of dollars, yes, there were many individuals. And many of them were believers of new tech. Others wanted to hiide their payments. They can sale because of panic, because they need fiat right now. But Wall Street is different. Today they are playing with bitcoins, tomorrow with gold and after that with some derivatives or orange juice. They can leave some market very fast (in fact, this is happening right now). For them it is just another of thousands markets. And if they lose trust in crypto, well they can return in years or decades. Another problem is adoption. Many retailers refused Bitcoin this year, even Stripe. And the worst is the world crisis that many economists predict in 2019-2020. In every crisis, such instruction investors will leave high-risk markets. It is a rule.
I’m surprised that everybody if this forum are making analogies to past crashes. How many crashes Bitcoin had before? 3-4? Why everybody think that if something happened 4 times, it will be the same this time? Everybody talking of butcoin as a currency. But it is not. May be it will become a world currency and maybe not. Over the past 3 years, Bitcoin has not come close to becoming a currency, but is has become a high volatile speculative asset.

The golden rule of investing (well one of them): no, this time isn't different.

People thought the same way you are when Bitcoin was $200 in 2015 (I was one of them).
And Wall St has barely entered the market. So not sure why you are saying that somehow that makes this crash different.

Generally the worst thing you can do is assume that this time is different. The last boom wasn't different than any other boom, and people who thought the price would just keep going up and never crash were wrong cuz they decided "this time is different", and you are doing the same thing now.

But hey, all it means is that you're gonna miss getting in at the bottom of this cycle. Doesn't bother those of us who are loading up accumulating cheap Bitcoin now.

The time will show. But 17 years ago when DotComs crashed, many people had said the same, “no, this time isn't different”. And lost everything.

Only the people who invested in shit companies, the corollary today would be investing in shit altcoins and shit ICOs. Bitcoin is the Amazon of the crypto market. Pretty sure nobody who held Amazon stock through the dotcom crash into today is complaining about making a crazy amount of money.

"No this time isn't different" is a general rule of investing, it has nothing to do with trying to say oh this one thing one time happened so that means this time is gonna be like that one time in an entirely different market and so the rule doesn't apply. Your logic and argument is extremely weak.

[jadenunderhill]

Let them keep on talking while Bitcoin doesn't really care about what these so-called experts are talking. Rising or falling it doesn't matter anyway, Bitcoin price is still stable at this rate. They will all be another story that will be written in the history again, Bitcoin will survive and no, it is not dying.

Doesnt't care, yeah. We are at 3 200 and going down fast.  And yes, it will not die. For enthusiasts like in this forum and may be some criminals. But for most common investors it is already half dead. If it really will go below 3 000, it will be a full capitulation. And it will take 3-4 years then the price will return even to 6 000 level. Or may be it will never return..

And you could have said the same thing 4 years ago, and been dead wrong. No reason to think this is any different than any other Bitcoin crash. I'd say the only difference is that instead of having nothing on the horizon four years ago as everyone abandoned Bitcoin, this time around we have multiple Wall St firms building exchanges and custody solutions and trading desks and whatnot to offer Bitcoin to a whole new group of people that have a TON of money.

When retail investors come back to the Bitcoin market in say two years they're just gonna find it a hell of a lot harder to buy Bitcoin because big money will already have eaten up MILLIONS of bitcoin by then. Institutions have already bought up hundreds of thousands of Bitcoin from panic selling noobs this year. Smart retail investors are doing the same thing, buying as much as they can from panic selling noobs to accumulate cheap Bitcoin now.

Well, in my opinion this crash is different. Because of Wall St firms you mentioned. When it was millions of dollars, yes, there were many individuals. And many of them were believers of new tech. Others wanted to hiide their payments. They can sale because of panic, because they need fiat right now. But Wall Street is different. Today they are playing with bitcoins, tomorrow with gold and after that with some derivatives or orange juice. They can leave some market very fast (in fact, this is happening right now). For them it is just another of thousands markets. And if they lose trust in crypto, well they can return in years or decades. Another problem is adoption. Many retailers refused Bitcoin this year, even Stripe. And the worst is the world crisis that many economists predict in 2019-2020. In every crisis, such instruction investors will leave high-risk markets. It is a rule.
I’m surprised that everybody if this forum are making analogies to past crashes. How many crashes Bitcoin had before? 3-4? Why everybody think that if something happened 4 times, it will be the same this time? Everybody talking of butcoin as a currency. But it is not. May be it will become a world currency and maybe not. Over the past 3 years, Bitcoin has not come close to becoming a currency, but is has become a high volatile speculative asset.

The golden rule of investing (well one of them): no, this time isn't different.

People thought the same way you are when Bitcoin was $200 in 2015 (I was one of them).
And Wall St has barely entered the market. So not sure why you are saying that somehow that makes this crash different.

Generally the worst thing you can do is assume that this time is different. The last boom wasn't different than any other boom, and people who thought the price would just keep going up and never crash were wrong cuz they decided "this time is different", and you are doing the same thing now.

But hey, all it means is that you're gonna miss getting in at the bottom of this cycle. Doesn't bother those of us who are loading up accumulating cheap Bitcoin now.

The time will show. But 17 years ago when DotComs crashed, many people had said the same, “no, this time isn't different”. And lost everything.

Only the people who invested in shit companies, the corollary today would be investing in shit altcoins and shit ICOs. Bitcoin is the Amazon of the crypto market. Pretty sure nobody who held Amazon stock through the dotcom crash into today is complaining about making a crazy amount of money.

"No this time isn't different" is a general rule of investing, it has nothing to do with trying to say oh this one thing one time happened so that means this time is gonna be like that one time in an entirely different market and so the rule doesn't apply. Your logic and argument is extremely weak.

I'm not sure that Bitcoin is Amazon. Bitcoin is slow, it consumes a huge amount of electricity, and it is almost immposible to make any useful changes because miner groups or big exchanges will block any decision. Its only advantage that it was first and that is why it is more popular. This could change.

[Wind_FURY]

I'm not sure that Bitcoin is Amazon. Bitcoin is slow, it consumes a huge amount of electricity,

Comparing it to "Amazon" is not very flattering. But Bitcoin is still the most secure censorship-resistant cryptocurrency out there. Bitcoin is not merely a consumer payments product, it is hard money.

and it is almost immposible to make any useful changes because miner groups or big exchanges will block any decision.

Because it is truly decentralized.

Its only advantage that it was first and that is why it is more popular. This could change.

It could. But with what cryptocurrency?

[Wilhelm]

Fake news

[jadenunderhill]

It could. But with what cryptocurrency?

Who knows) May be it isn't created yet or so unpopular we never heard about it or may be it would be Ripple

[figmentofmyass]

I'm not sure that Bitcoin is Amazon. Bitcoin is slow, it consumes a huge amount of electricity, and it is almost immposible to make any useful changes because miner groups or big exchanges will block any decision. Its only advantage that it was first and that is why it is more popular. This could change.

if you try to make block time much faster, you start sacrificing security. you'll see much more orphaning and users should thus require more confirmations before consider a payment settled. blockchains with faster block times are just less secure.

it does consume a lot of electricity, but so does the banking industry. so does gold mining. if bitcoin is to take a chunk out of their market shares, maybe it's justified considering the level of security bitcoin's POW provides.

miners blocking segwit showed that BIP9 was an ineffective way of implementing soft forks. the UASF approach might be a better route.

[Herbert2020]

It could. But with what cryptocurrency?

Who knows) May be it isn't created yet or so unpopular we never heard about it or may be it would be Ripple

haha, keep on dreaming. Doge coin has a better chance of being it than a centralized shitcoin such as Ripple

as for changes that you are talking about above, it is not hard at all but the problem is that the "change" needs to be actually good and not controversial with lots of downsides and security issues.
if you have a proposal we are open to hearing it! but it seems like you only have imagination.

[Wind_FURY]

It could. But with what cryptocurrency?

Who knows) May be it isn't created yet or so unpopular we never heard about it or may be it would be Ripple

Hahahaha! I believe you are still in the initial stages of your cryptocurrency journey, sorry for laughing. But you remind me of "me" when I discovered all this craziness. I also thought Bitcoin was this "slow, old" technology that needed to replaced by something newer, and faster. Then the more I learned, the more I found that Bitcoin, with all its imperfection, is the "gold standard" of cryptocurrencies.

I am very confident you, and every newbie, will discover it too. The misinformation will be memefied.

[bitcoinisbest]

Fake news

It is just a number which even if said is not true. Because market will not fall below 3k so any prediction done by people that it will reach to 2k, 1k etc are just imaginary. We are looking for 2019 to begin positively and if it can rise to 10k and above in next couple of months it will be great.

[marcbitcoins]

It might fall and might be not but honestly i don't believe in predictions anymore as all predictions like this did not happen as desired and many famous experts in predictions are now became foolish because of this bearish market in which still in effect so better lets wait and see for what will be the next for this market.

[Pursuer]

It could. But with what cryptocurrency?

Who knows) May be it isn't created yet or so unpopular we never heard about it or may be it would be Ripple

Hahahaha! I believe you are still in the initial stages of your cryptocurrency journey, sorry for laughing. But you remind me of "me" when I discovered all this craziness. I also thought Bitcoin was this "slow, old" technology that needed to replaced by something newer, and faster. Then the more I learned, the more I found that Bitcoin, with all its imperfection, is the "gold standard" of cryptocurrencies.

I am very confident you, and every newbie, will discover it too. The misinformation will be memefied.

really? I never had that phase. and I have started with bitcoin back in one of the most FUD filled times back in 2014 when price was falling hard and here was filled with a lot of FUD about how bitcoin is dead, something like these days actually.
and every time I heard someone say some altcoin is better than bitcoin with some "fury" I knew they are full of it trying to hype it up to pump it up...
specially a coin like ripple which is obviously centralized...