The time of seriousness is disappearing

[davis196]

I'm getting sick and tired of all the experts.We should stop reading such articles and everything will be fine.
Only if the noobs weren't so into this BS propaganda and not panicking all the time.
I don't think that the "time of seriousness is disappearing".By the way,what do you mean by "time of seriousness"?We have seen the price to do down several times before.Is this making bitcoin less serious?

[Pursuer]

Back to topic, when you are predicting about bitcoin price, knowing that it is a speculative asset, then its a known thing that the prediction may or may not comes out to be true. So they have a disclaimer for those who may feel bad about it. Attracting investors in not the right word, rather its attracting FOMO kids to the group and make them lose money when the whales dump. Basically whales control the market.

I wouldn't call it "control", it is more of an influence over the market since they have more funds at their disposal and most importantly because the market is still small with its thin order books on exchanges that still are small.
but they can not control bitcoin market and the over all trend will always continue as it should without anybody being capable of preventing or changing it. for instance we are going to see a higher price by the end of this year and nobody can change it. the only thing whales can do is to dump at times to cause panic and fill their pockets with more cheap coins at that time before market goes back to normal.

[qwertyup23]

In all honesty, this outcome is to be expected. With the recent significant increase on bitcoin's price, it resisted fairly slow and succumb to a drastic decrease. Rather than feeling down, take this time as an opportunity to purchase while prices are on the red. This kind of situation is relatively common and most of us already experienced this kind of situation.

To all fairly new investors in the world of cryptocurrency, let this outcome not sway your decision-making skills and your interest in bitcoin. While there may be times where we experience gold, expect times of dark to come.

[TheUltraElite]

I wouldn't call it "control", it is more of an influence over the market since they have more funds at their disposal and most importantly because the market is still small with its thin order books on exchanges that still are small.

Influence is nothing but control in a more wider and acceptable sense.

Every leader out there has become like that because they have influence and thus control. Whales do the same with the market. They pump it up with news because they control the paid articles on news and some pump shills on social media to promote their shitcoins so small fries eat that news and buy it. In the meantime they sell and exit those coins. This is found in every speculative market out there not just cryptocurrencies.

[K21000]

Today I read this news:

Bitcoin Price Drops Under $10,000 as Downtrend Continues

today the news had something very different, something shocking, I do not know if was intentional, but today the news had this:



look at the photo

 


days ago an analyst made a very exaggerated price forecast (something that became very common in recent years)... he said this:

BTC could return to its all-time high of $20,000 within one to two weeks, while $50,000 to $100,000 could be achievable by the end of 2019

the guy who said this is @Simon Peters (eToro analyst)

the price is falling a lot and when I see this forecast, I get more angry with those analysts who only make the wrong predictions (their predictions seem like a big joke)

 


week ago I read something very ridiculous, this thing surpasses all the most ridiculous things that I have seen, with the price drop... I remembered this ridiculous thing that I saw a few weeks ago, here is the ridiculous thing:

The Bitcoin time-traveler was right since 2013, and predicts $100K for 2019

We have a time traveler.

current price

1 BTC = $10 268,65 USD (-6,99%)

today is July 2, this means that there have little time for the end of year

I do not believe that someone is able to travel in time and the guy made a very ridiculous prediction

 


What next?

In my opinion OP should have known the predictions by these "analysts" were far fetched from the beginning. Why is it only know ~2 years after the great pump of 2017 is OP beginning to question these "analysts".

No matter the market condition when it comes to investment one must in my opinion:

- Never take the advice of someone else in place of their own
- Acknowledge that no matter how safe or how rewarding a investment might seem losing most/all of investment is possible
- Never fall for hype
- Think of long term....in crypto world this would be at least 5 years....so if you invest in ether in 2017 you should not expect it to make you rich in 2019.....
- Accept responsibility for their loss if they fail to do the above....if you didnt know what you were getting into when you invested then that is nobody's fault but your own

[Herbert2020]

In all honesty, this outcome is to be expected. With the recent significant increase on bitcoin's price, it resisted fairly slow and succumb to a drastic decrease. Rather than feeling down, take this time as an opportunity to purchase while prices are on the red. This kind of situation is relatively common and most of us already experienced this kind of situation.

To all fairly new investors in the world of cryptocurrency, let this outcome not sway your decision-making skills and your interest in bitcoin. While there may be times where we experience gold, expect times of dark to come.

unfortunately newcomers never listen to this, they always do the exact opposite which is selling at the bottom of a dip because they believed in some FUD that came after the drop ended and wanted to push them out by taking their bitcoins at a cheaper price.
that is why we always see the dips grow more than logically expected. and that is also why technical analysis never works for bitcoin. because newbies and weak hands increase the volatility to unexpected levels.

[krb91]

Personally,  think all these analysts are as dumb as they come but I can tell you they know what they are doing. Someone has to sell low and buy high right? Where do these professional traders make their money from if not from mindless folks that follow them religiously. Personally I look for opportunities in the opposite direction of the crowd, that's where the money is, I know that, the market maker knows that, so that's really what matters.

[iMark]

As you said
 *it's a prediction* , that too *ridiculous* ;

First thing :
 *There is no such thing as time travel
Secondly :
 * It's a prediction so don't get too serious about it .
Third :
 * It may still reach 20k$ , because actually we do have plenty of time , the price starts to increase in the last months only , so don't give hope if you think it is going to be worth holding a while.

Yeah that's just a prediction, no time machine can tell you what the price will be in the future. Even many users will think the same that prices will increase to $20k this year, but that doesn't mean they have a time machine. it's just a prediction and $20k isn't an impossible price this year

[1Referee]

and that is also why technical analysis never works for bitcoin. because newbies and weak hands increase the volatility to unexpected levels.

Technical analysis does work, but people should understand that it offers no certainties. It's all a probability game in the end.

During extreme waves of panic selling or fomo buying it's indeed very difficult to know where we will peak/bottom out, but the price mostly ends up reversing at a very important level that you can prepare yourself for. I personally am a Fibonacci fan and it showed its importance twice so far.

The main reason why people think technical analysis is bs is because of how self proclaimed gurus or experts pop up totally not understanding what they are talking about. Unfortunately, these clowns are what we read the most about so it's not that surprising to see people dislike technical analysis.

[Pyr3x]

Analysts are constantly making predictions. Completely different. Some say growth by the end of the year. Others predict a fall. I don't trust them and don't listen to their predictions.

[TheUltraElite]

Analysts are constantly making predictions.

LOL that is why they are called analysts. It what they do for a living and trust me, its a worthless way of living analysing what even a common man can do with some mathematical tools and writing skills. Then again you have to have a fancy name and column for every other retard out there because people want it and are lazy to make their own charts which they can trust.

Completely different. Some say growth by the end of the year. Others predict a fall. I don't trust them and don't listen to their predictions.

Thats why they hide behind a "disclaimer" that their analysis is not a financial advice.

[darklus123]

You've sounded very ammature for your rank and statement. It is ok to forsee such analysis but to think that it will realistically happens is not just smart. That is why it is so called predictions and the logic behind it is completely luck.  Next time you should have known better

I just remembered that i created a topic about this tho the statement was from Macfee. Using the same reasoning. Bitcoin is falling right now but we can't really say that the $10k price target is not reachable until we will end this year with a $9k price

[MadeinCoin]

In all honesty, this outcome is to be expected. With the recent significant increase on bitcoin's price, it resisted fairly slow and succumb to a drastic decrease. Rather than feeling down, take this time as an opportunity to purchase while prices are on the red. This kind of situation is relatively common and most of us already experienced this kind of situation.

To all fairly new investors in the world of cryptocurrency, let this outcome not sway your decision-making skills and your interest in bitcoin. While there may be times where we experience gold, expect times of dark to come.

unfortunately newcomers never listen to this, they always do the exact opposite which is selling at the bottom of a dip because they believed in some FUD that came after the drop ended and wanted to push them out by taking their bitcoins at a cheaper price.
that is why we always see the dips grow more than logically expected. and that is also why technical analysis never works for bitcoin. because newbies and weak hands increase the volatility to unexpected levels.

Not only beginners, even seniors are still often victims of FUD and FOMO. I think things like this have no solution because they will always be in a situation of fear of loss when bitcoin goes down. But if the technical analysis problem doesn't work, I think that is the way whales are not beginners, beginners will not be able to monopolize the market.

[TheUltraElite]

I just remembered that i created a topic about this tho the statement was from Macfee. Using the same reasoning. Bitcoin is falling right now but we can't really say that the $10k price target is not reachable until we will end this year with a $9k price

Every prediction can be said to be true if they are given in a timeframe and people dont take them for granted that they will happen everyday. Someone selling a huge stash of coins and saying that the market is going to crash this many points, then for that period it will be true, but once people start buying it will become false. Misinformed people assume that the prediction if forever and thus they start raging.

Of course the predictor is saved by their own disclaimer and its better to avoid reading them at all.