Why $13,000 was unsustainable.

[UnDerDoG81]

If you would have a clue about bitcoin you would not try to sell your scam but would enjoy your billionaire life that you would have through trading. It's the same shit with these online marketing gurus. They teach you how to make money but themselves make money with selling you their scam courses.

[cocoadreamboy]

If you would have a clou about bitcoin you would not try to sell your scam but would enjoy your billionaire life that you would have through trading. It's the same shit with these online marketing gurus. They teach you how to make money but themselves make money with selling you their scam courses.

I don't sell courses. I just tell people the financial information that is important to know if you are trading, holding, or thinking of investing in.

Thanks man!

https://www.amsinger.org

[samcrypto]

What about this? https://whale-alert.io/transaction/ethereum/fd83697b1dd34a08de1ea8b86a1330bba6512ea0eed92ed3b742de1f3177977e
I haven't seen someone talking about it, could it the reason for the slap we got today? I wish it is because Bitcoin will surely come back to $13,000 this week... just another Panic Day...

Maybe yes but we still don’t know, the price of BTC is down again and also with ETH which is more down compare to bitcoin, this is indeed a panic day for all the hodlers. Well, we are still hoping for the price of Bitcoin and Altcoins to recover, let’s help the market to comeback from a good price stop panicking and don’t sell for a loss.

[cocoadreamboy]

This post was accurate, due to the logic of the financial thinking. I hope no one bought at $13,800 when they could have waited a month and now bought at 10k.

I monitor what the whales do based on creation cost and cash flow like this. It is the only way to properly understand bitcoin fundamentally.

https://www.amsinger.org

It is always better to get more clever and aware. It sucks to lose money.

Aaron

[logicgate]

This post was accurate, due to the logic of the financial thinking. I hope no one bought at $13,800 when they could have waited a month and now bought at 10k.

I monitor what the whales do based on creation cost and cash flow like this. It is the only way to properly understand bitcoin fundamentally.

https://www.amsinger.org

It is always better to get more clever and aware. It sucks to lose money.

Aaron

  Well I can tell you that the price rise was so sudden and had been so revitalizing that people did invested when it was around $13,000. However such things do happen due to fear of missing out the gains that many already in the market could earn. But this is a weak approach and it is always the best approach to invest in the coins when the market value is down.

[sheenaedago]

It's sustainable due to wasn't able to stabilized at that certain value, that suddenly collapse after panic sellers dumped their holdings. Nobody options to wait for another price increase, that's why price declination continued to occur sophisticatedly.

[cocoadreamboy]

Well I can tell you that the price rise was so sudden and had been so revitalizing that people did invested when it was around $13,000. However such things do happen due to fear of missing out the gains that many already in the market could earn. But this is a weak approach and it is always the best approach to invest in the coins when the market value is down.

You have no way of knowing what is actually down unless you know the creation cost. Anything above that point is speculation.

https://www.amsinger.org

[cocoadreamboy]

It's sustainable due to wasn't able to stabilized at that certain value, that suddenly collapse after panic sellers dumped their holdings. Nobody options to wait for another price increase, that's why price declination continued to occur sophisticatedly.

So you choose to ignore the 1800 bitcoin created per day? That is a fact and a reality.

There is natural downward pressure due to the miners creating new coins.

Aaron

https://www.amsinger.org

[nydiacaskey01]

It's sustainable due to wasn't able to stabilized at that certain value, that suddenly collapse after panic sellers dumped their holdings. Nobody options to wait for another price increase, that's why price declination continued to occur sophisticatedly.

So you choose to ignore the 1800 bitcoin created per day? That is a fact and a reality.

There is natural downward pressure due to the miners creating new coins.

Aaron

https://www.amsinger.org

First of all, your signature is enough to promote your site, no need to include that site every time you make a post.

$13,000 is sustainable, if you are seeing now price of Bitcoin below $10,000 it might be because of market correction after the bull run a few weeks ago and this is not new, we have seen market corrections over and over again. Price will recover again and go back to $13,000 or higher eventually.

[Reid]

You mean you are basing it in history.
That is all I see from all the numbers that you are using.

What if there is no basis at all?
How could you still get this numbers?
I dont think there is one who is really accurate enough to tell where it will go. 20k is not expected and so is the fall to 3k. Is that still laughable if there are people who loss a lot of money from that event?

[virasog]

It's sustainable due to wasn't able to stabilized at that certain value, that suddenly collapse after panic sellers dumped their holdings. Nobody options to wait for another price increase, that's why price declination continued to occur sophisticatedly.

The bitcoin price went up quickly from 4000$ to 13000$. This movement was not natural one and after this parabolic movement, the bitcoin was expected to dump heavily.

[deisik]

P.S. Come on trolls, I am ready for you. Only a troll sees someone using facts and data and sprays cuss words and insults. Intelligent people ask questions or make logical statements, they do not yell at numbers

Not a good start if you ask me

Still, you don't know exactly how much of the miners daily reward gets dumped on exchanges, so your whole idea goes straight out the window until you have strong evidence proving your premises. So much for the "facts and data". And as others have already said, your approach doesn't explain the change in price as it could be used to account for any significant price drop due to excessive supply, and technically, you would even be correct as it all eventually comes down to the balance of supply and demand

[slaman29]

P.S. Come on trolls, I am ready for you. Only a troll sees someone using facts and data and sprays cuss words and insults. Intelligent people ask questions or make logical statements, they do not yell at numbers

Not a good start if you ask me

Still, you don't know exactly how much of the miners daily reward gets dumped on exchanges, so your whole idea goes straight out the window until you have strong evidence proving your premises. So much for the "facts and data". And as others have already said, your approach doesn't explain the change in price as it could be used to account for any significant price drop due to excessive supply, and technically, you would even be correct as it all eventually comes down to the balance of supply and demand

Not to mention that even before anything starts you're already calling out the trolls. And assuming that only trolls use insults. Smart people do too.

But anyway yeah, I can agree 13k was unsustainable but any amount is when you're talking about such a short period of time. Averages are easier to understand against timeframes and those are the sustainable lines we should be looking at.

[Mahanton]

It's sustainable due to wasn't able to stabilized at that certain value, that suddenly collapse after panic sellers dumped their holdings. Nobody options to wait for another price increase, that's why price declination continued to occur sophisticatedly.

So you choose to ignore the 1800 bitcoin created per day? That is a fact and a reality.

There is natural downward pressure due to the miners creating new coins.

Aaron

https://www.amsinger.org

First of all, your signature is enough to promote your site, no need to include that site every time you make a post.

$13,000 is sustainable, if you are seeing now price of Bitcoin below $10,000 it might be because of market correction after the bull run a few weeks ago and this is not new, we have seen market corrections over and over again. Price will recover again and go back to $13,000 or higher eventually.

People do really love to make some analysis if the price didn't able to break that $14k resistance and sustaining on 13k price,without even thinking that
there would always be a profit sell-off in which would result into correction.I don't know why people do still got shook when they do saw price dumps and suddenly
telling their own views and analysis blah blah and everything.

[The Sceptical Chymist]

Sometimes people swear as a matter of self-expression.  WinslowIII is probably cussing for emphasis.

All cussing aside, I don't buy OP's argument as to why $13k was not sustainable--it can and will be as long as the price doesn't get there too quickly and speculators don't cash out at the top, which is probably what happened.

Bitcoin is below $10k right now, but the bull market is still on and bitcoin is just taking a breather.  I suspect that the price will get back to $13k and above within a relatively short period of time, and none of the mining stuff matters.  OP's argument just does not ring true to me.  Bitcoin's price is heavily influenced by demand, and when the traders start buying again you'll see what happens.

[FanEagle]

I think it wasn't "dump", dump kind of sounds like someone wanted to bring the price down or someone wanted bitcoin price to be low to buy again cheaper. This wasn't exactly dump depending on your definition of dump.

This was more like people were happy with what they have earned and they just wanted to sell their coins. It is only natural for people who have been waiting for months even years to make a profit to finally sell when they get the chance to make a profit.

So of course, that dropped the price down a bit but not even that much, we moved from 4k to 13k and now dropped only to 10k which is definitely fine for me, as long as it doesn't go under 8k I think this is just people who are finally getting rid of the bags they had and nothing else, that is why I honestly feel like we are definitely capable of sustaining 13k, just need time to get rid of all sellers.

[1Referee]

So of course, that dropped the price down a bit but not even that much, we moved from 4k to 13k and now dropped only to 10k which is definitely fine for me, as long as it doesn't go under 8k I think this is just people who are finally getting rid of the bags they had and nothing else, that is why I honestly feel like we are definitely capable of sustaining 13k, just need time to get rid of all sellers.

Unfortunately, people only seem to care about the price after they have bought their coins, which usually is around the top of each run. They only think about their $13,000 entry point and the current price of $9800. That Bitcoin went up from below $4000 to nearly $14,000 is irrelevant. They probably expected the price to hit $1000 on the way down and like $20,000 on the way up.

I'm fine with the price even testing the $6000-$6500 range because that's another higher low if it holds. If you before the blast from $4000 to $5000 asked people if they expected the price to break $6000 this year, most of the answers would be no because of how bad the sentiment was then. In the end, people pretending to be hodlers shouldn't complain and load up on more coins if that scenario plays out.

[STT]

Bitcoin's price is heavily influenced by demand, and when the traders start buying again you'll see what happens.

I'm more bullish on genuine or long term demand or speculative demand which can and does reverse.   I'm not sure we can have a proper trend based off rising speculative activity, at some point the leveraged buyer will turn 180 again trading price not usage and negatively shorting for the same reason to realise a price difference.
    13k isnt unsustainable if there is growth in the population of users, the miners selling coins to service costs is quite a constant compared to other variables and seasons that BTC might have

[cocoadreamboy]

Well I can tell you that the price rise was so sudden and had been so revitalizing that people did invested when it was around $13,000. However such things do happen due to fear of missing out the gains that many already in the market could earn. But this is a weak approach and it is always the best approach to invest in the coins when the market value is down.

Using logic and cash flow analysis is weak. It is always interesting to hear what these people say. Anyone who invested at 13k is down 3k now. I'm sure they feel "revitalized".

https://www.amsinger.org

Aaron

[cocoadreamboy]

Unfortunately, people only seem to care about the price after they have bought their coins, which usually is around the top of each run. They only think about their $13,000 entry point and the current price of $9800. That Bitcoin went up from below $4000 to nearly $14,000 is irrelevant. They probably expected the price to hit $1000 on the way down and like $20,000 on the way up.

I'm fine with the price even testing the $6000-$6500 range because that's another higher low if it holds. If you before the blast from $4000 to $5000 asked people if they expected the price to break $6000 this year, most of the answers would be no because of how bad the sentiment was then. In the end, people pretending to be hodlers shouldn't complain and load up on more coins if that scenario plays out.

How dare people want to make money! Be happy with losses! Absolute hogwash. Everyone is trying to make money not buy up garbage.

https://www.amsinger.org