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Author Topic: Sudden fall in bitcoin price after successful halving, Post-halving prediction.  (Read 571 times)
CaVO32
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May 10, 2020, 11:00:19 PM
 #41

I think we are going to visit $3k again after the halving.

Three digits is very likely to happen at the end of the year, due to bitcoin not recovering two thirds of the ATH, needed for triggering the bull market.

Also there is the plandemic, and people letting their liberties being taken away by the upcoming global tyranny. This is having a heavy impact on the price, as bitcoin is now correlated with the stock markets.

A 100-year bear market is very likely to happen. I hope that I'm wrong, since I'm still long in bitcoin and doing a inverted DCA strategy, just for precaution.

Having those precautions isnt bad but those are way too deep and come to think that;

Bitcoin/crypto market isnt correlated with Stock/forex market
Pandemic isnt really that much an issue

if you do try to look the market condition even into those circumstances above then you can say that we're doing pretty well here
in crypto space.

Going to 3 digit price is unlikely to happen.We arent hoping for fast breaking that ATH but we do hope for at least some good numbers
ahead.

I am more on the positive side as well, going upward in the next coming weeks or months. The sudden fall, though we were not expecting that to happen this early, is very possible to happen as big whales maybe are doing some sell off, but they will buy again. I don't think we will go back to $3k again. Even if we are still in pandemic, btc survives and trying to get back. It is really interesting what will happen after this halving, the next 24 hours will be fascinating to follow, what will be the movement in the market...
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May 10, 2020, 11:37:39 PM
 #42

3k is possible in the context of a double bump in the curve to this virus effects.   If a second wave was worse then the first as in the flu deaths of a hundreds years ago then that will surprise many and knock back the recovery seen now in many prices.    That should not be happening with modern technology and understanding that we have but some will insist on ignoring all good advice and carry on until they catch and spread the virus to others, there's no doubt the greater free association coming up will result in a rise in cases and deaths, but how much we aren't sure.
  The reason that matters for BTC price is the deflation and fear factor is a natural contraction to the economy and tightening to monetary velocity, usually that leads to lower prices everywhere.  It  could be a shock despite us knowing the nature of the danger now, the ease at which is spreads and damages people is still not pin pointed and we don't have a solution till 2021 so I'm not wildly bullish.

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May 11, 2020, 09:05:01 AM
 #43

Just as I have said, the huge reversal is now taking place. As of this posting, Bitcoin has already lost around $1,500 per BTC. That is at least 12% reversal in a matter of hours. Money is lost from this huge dip. At the same time, money could also be made from this. Again, let's enjoy the rough ride.
After that hard dump there is a slight recovery on the prices but now I can feel the reversal of the market which I was expected only after halving.So if prices fall down further then how this will affect the miners towards halving event? All miners will be forced to sell for cheaper prices. Roll Eyes

There is a news article I read around a week ago that says most of the Bitcoin miners are keeping their Bitcoins days prior to halving. I cannot confirm the veracity of that claim though.

Anyway, I think the miners are fully aware of the halving to come. They have braced themselves for that. If they have the capacity to somehow influence the prices, they might. It will be to their advantage if the price remains somewhat higher than if they would just leave it falling down.

The rest of the miners who might get caught with net losses due to the halving don't have to sell their Bitcoins cheaper. They can always wait for the pump. But they have the option to just stop their operation temporarily if the losses continue.
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May 11, 2020, 10:11:14 AM
 #44

I see we have had another dump, and there think the correction has a bit further to go. I'm bullish for the second half of this year, so I'm going to look for some chances to restart accumulating. In the meantime, there should be some good chances to try a bit of scalping.

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May 11, 2020, 05:59:39 PM
 #45

If the talks about the miners waiting for the halving before selling which caused the increase is true, that means we are waiting for a huuuuge drop eventually. I don't know if that rumor is true or not, and even if it is true that means we still don't know how long they will wait, maybe that dump was them and we are already over that, maybe they will sell like months later, I don't know whats going on, and I can't say I have any insider information neither.

However one thing is for sure, we are going to see some dump because price can't really skyrocket from day one unless there is some speculation going on. I see that dump not going for too long though, I see it doing a bit for a while but recovering after a while as well, we are going to see a yearly high this summer for sure.
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May 11, 2020, 10:22:55 PM
 #46

Not true necessarily, large reserves of BTC are a requirement for major trading.   The most obvious or common example is casinos which require a float to cover bets but many estabslishments while profitable need BTC to cover the trade everyday.   If Bitcoin is expanding and not impacted by this virus contraction meta then the miners are correct and do not have to sell to market in plain orders but can pass on coins in bulk in private arrangements and deals and that might well happen.

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May 12, 2020, 01:18:27 PM
 #47

It sounds like miners have making this way to become profitable unlike they get in mining. And it looks like the whales are not in control with market today but people are looking into the miner's cause. But what I see here is that almost all of us have not intention to sell their Bitcoin and this could help to fasten the recovery.
I believe that many we're expecting high during halving but the situation seems too different and that we have to accept.  

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