Wenbing (OP)
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There is gold in volatility..
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December 29, 2020, 03:36:58 PM |
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I've been thinking, it's now very scary to buy bitcoin, as the bullish movement is at an unexpected level.
When do you think bitcoin price will start falling?
What are the signs to watch out for?
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Rikafip
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December 29, 2020, 03:49:44 PM |
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Despite current price I don't think it's scary at all to buy bitcoin now, as long as you are responsible. And that means not borrowing money from anyone to buy bitcoin, not going all in with all your savings, and most importantly look at bitcoin as a long term investment and that means having the patience to wait for even few years.
Trying to time the market and waiting for dips dips is harder than it looks so that's why i prefer dollar cost average method where I don't care much about current price. I simply buy at regular intervals as I know I will profit in the end. So far this method works flawlessly.
Regarding when price will start dropping, it will probably happen suddenly and without some major sign, when people are not expecting.
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tranthidung
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December 29, 2020, 03:54:51 PM Last edit: December 29, 2020, 04:55:18 PM by tranthidung |
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When do you think bitcoin price will start falling?
I can not tell you when but pay your attention on three funding times every day on BitMEX [1] Funding
Funding occurs every 8 hours at 04:00 UTC, 12:00 UTC and 20:00 UTC.
I advise you to stop using MACD or RSI to predict price for your trades as they are lagged or very delayed indicators for past price movements. Bitcoin rose to $28,000 and many Short positions were liquidated along the way of bitcoin from $20,000 to $28,000. You can look the Long-Short positions statistics and Funding rates and draw an overview for market status. [1] https://www.bitmex.com/app/perpetualContractsGuide
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Wenbing (OP)
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There is gold in volatility..
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December 29, 2020, 03:55:11 PM |
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Despite current price I don't think it's scary at all to buy bitcoin now, as long as you are responsible. And that means not borrowing money from anyone to buy bitcoin, not going all in with all your savings, and most importantly look at bitcoin as a long term investment and that means having the patience to wait for even few years.
Trying to time the market and waiting for dips dips is harder than it looks so that's why i prefer dollar cost average method where I don't care much about current price. I simply buy at regular intervals as I know I will profit in the end. So far this method works flawlessly.
Regarding when price will start dropping, it will probably happen suddenly and without some major sign, when people are not expecting.
A friend told me that some people borrowed money from banks to invest, and it had paid off for them
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Rikafip
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December 29, 2020, 04:06:25 PM |
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A friend told me that some people borrowed money from banks to invest, and it had paid off for them
Well, I know some people that that did the same and they profited, but I know even more of those that took loans during last bull market, bought BTC at almost all time high expecting they will take a quick profit and return money to bank. We all know what happened in late 2017/early 2018. Situation now is even more complicated than few years ago due covid19 and generally bad economic situation when people are loosing their jobs left and right. We all expect that bitcoin goes up a lot like it did in 2017, but you never know what will happen, especially in these uncertain times. I simply woulnd't recommend anyone to gamble that way and invest money they don't have. Rather buy little by little, as much as you can afford. It is much safer method, and will still yield return.
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enhu
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December 29, 2020, 04:30:31 PM |
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Price is falling this time, it was once touching $28,000 bu its down to $26,000. Its definitely a big amount. Its too early to say the bears are going to take over the market already. XRP may the only be experiencing bear market and we all know its reason.
The altcoins are starting to rise and if I have to compare to what happened in the last bullrun, it should last for like a year. But today's bullrun is also initiated by bi investors along with adoptions.
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cr1776
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December 29, 2020, 04:35:12 PM Last edit: December 29, 2020, 06:41:50 PM by cr1776 |
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I've been thinking, it's now very scary to buy bitcoin, as the bullish movement is at an unexpected level.
When do you think bitcoin price will start falling?
What are the signs to watch out for?
No one knows - if anyone knew when it would start falling, they'd be Nostradamus. Who thought it was unexpected? Eventually as more and more people realized the uses, it seemed pretty expected that the fiat price would rise along with it. Will there be ups and downs along the way? Sure, it has been like that since 2009. The keys are: 1. Only invest what you can, 2. don't borrow, 3. don't keep your coins on an exchange (unless it is really reliable, and even then...), 4. Wait -give it time as even more people want to protect themselves from inflation, confiscation from statists/authoritarians etc.
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bekti3
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December 29, 2020, 04:38:02 PM |
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When do you think bitcoin price will start falling?
everyone will say that "I CANNOT SURE WHEN BITCOIN WILL DOWN" The reason is simple, because the market share of bitcoin is not owned individually. so it is very difficult to say when bitcoin goes down and when it will go up.
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tranthidung
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December 29, 2020, 04:46:13 PM |
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The altcoins are starting to rise and if I have to compare to what happened in the last bullrun, it should last for like a year. But today's bullrun is also initiated by bi investors along with adoptions.
There is possibility for this flip of capital from bitcoin to altcoins. I said it based on the charts for Marketcap Bitcoin dominance (BTC.D) and Marketcap Altcoin dominance (OTHERS.D). Bitcoin dominance should be pulled back and Altcoin dominance should bounce a little. The market tends to move to a very different direction than the one is expected by most of people in the market. So to be safe, you need to wait for confirmations from the market. Dead Cat Bounce definition. With some shit tokens from DeFi and young cryptocurrencies, it is safer for you to not buy any dip from now on. For old altcoins, you can wait for confirmations and buy the dips that can turns to profits in mid- and long-term.
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tsaroz
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December 29, 2020, 04:56:54 PM |
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With prices sticking about 25K, it seems another quick spike is possible but I too believe bitcoin won't sustain the current price for a long period. It needs to correct to some extent and I believe the price would move below 20K before making a solid resistance. There are rumors of whales accumulating more coins. But in my opinion it's better to miss out on profit than to buy on a spike and watch your coins go valueless.
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Silberman
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December 29, 2020, 05:16:58 PM |
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I've been thinking, it's now very scary to buy bitcoin, as the bullish movement is at an unexpected level.
When do you think bitcoin price will start falling?
What are the signs to watch out for?
Do not waste your time most likely oscillators have been on the overbought level for weeks and the same is true for many other indicators and yet the price does not go down, the bullish pressure is simply too strong and the indicators are not precise enough to be able to tell when that will happen, a correction or a crash in the price will come at whatever time they come and if you are a trader then you need to have your orders ready and have a stop loss in place as there is the possibility this happens when you are sleeping and you do not want to miss the opportunity to sell at your desired level.
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sheenshane
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December 29, 2020, 05:29:00 PM |
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A friend told me that some people borrowed money from banks to invest, and it had paid off for them
No, don't do this. It's a very complicated thing when you borrowed money and invest in crypto which is very risky, this is the scariest than seeing the price goes down in the market. I advise investing in what you can afford because all the movement of Bitcoin price is unpredictable and no one knows when it will be headed in the future. Just invest now if you want and hold it until you have your profit because if you are going to ask me, probably Bitcoin price will never go down beyond $20k IMO. There are a lot of institutions and investors who invested in Bitcoin and we're not on hype, not just like what happened before(year 2017). The demand and supply will always matter and that is the reason Bitcoin price will remain increase even right after there is a small correction.
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cryptodash4
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December 29, 2020, 06:20:06 PM |
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i dont know when it will happned but i suggest you one thing as soon as possible buy as much you want
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December 29, 2020, 06:33:12 PM |
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For me, there is no point in trying to guess when bitcoin price will fall if you want to buy, because I hold long-term. If you are trying to trade you should know more about the subject than you seem to by asking that question. Otherwise you are trying to play a crystal-ball game.
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Wenbing (OP)
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There is gold in volatility..
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December 29, 2020, 06:51:18 PM |
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Price is falling this time, it was once touching $28,000 bu its down to $26,000. Its definitely a big amount. Its too early to say the bears are going to take over the market already. XRP may the only be experiencing bear market and we all know its reason.
The altcoins are starting to rise and if I have to compare to what happened in the last bullrun, it should last for like a year. But today's bullrun is also initiated by bi investors along with adoptions.
Great information indeed, now that altcoins are about rising, which do you recommend?
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n0ne
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December 29, 2020, 07:18:31 PM |
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This time the market is very much stable. This has made the cryptomarket to be much more stronger than other forms of investments. No need to think of market getting crashed, it is believed that the market will gain momentum to be above specific price forever. If that happens we can expect the price to be stand without any massive downward movement.
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mezzaluna
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December 29, 2020, 07:27:36 PM |
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Nobody really can determine on when will Bitcoin's value will decline and the only thing we can do is just wait and watch things unfold in front of us or we can do our job and earn more Bitcoins. The decline on Bitcoin will surely be noticeable or when some things gets out of hand within the Cryptocurrency Industry but we are really not sure what it is about so can we please stop on waiting for Bitcoin to fall and just get the things we need to do while it is valuable
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Asuspawer09
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December 29, 2020, 07:27:57 PM |
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I've been thinking, it's now very scary to buy bitcoin, as the bullish movement is at an unexpected level.
When do you think bitcoin price will start falling?
What are the signs to watch out for?
Exactly, this is where a lot of beginners fall to, is investing when the market price is so high and riding the hype in the market. For sure the market price is gonna fall soon when the investors started to sell their investment, market price will not continue to increase its market price at some point. Personally, I think it's already a good time to sell your investment because for sure market price is already at its limit, and in my opinion, there will be resistance at around 27k$ and the dumping price will be around 10k$-20k$.
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DdmrDdmr
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It’s pretty unpredictable in the short term, and even when you think bitcoin is on an upward streak, there are days that move in the opposite direction (and you never know how long that streak is going to last).
Going over the daily opening data from Coinmarketcap, the largest streaks where the opening value is greater or equal to the prior day’s value are (in number of days):
2020: 8 (13/12/2020 .. 20/12/2020 and 23/04/2020 .. 30/04/2020) 2019: 8 (20/06/2019 .. 27/06/2019) 2018: 7 (14/07/2018 .. 20/07/2018) 2017: 18 (25/04/2017 .. 12/05/2017) 2016: 8 (24/05/2016 .. 31/05/2016) 2015 9 (23/10/2015 .. 31/08/2015) 2014: 6 (02/01/2014 .. 07/01/2014) 2013: 10 (01/11/2013 .. 10/11/2013)
The above is really an anecdote in the big picture of things to analyse, but it shows that consecutive day upward streaks are not that long before at least one day moving in the opposite direction.
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CarnagexD
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December 29, 2020, 08:44:23 PM |
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I speculated the price to dump in January, where the price correction will kick in. After this, the price will continually fluctuate low to high until a certain point where we would definitely know another bullish run is coming. That's how bitciin has bedn in the past few years it has gone mainstream. It's pretty much predictable at this point. But then again, it's still better to do a little bit of research than base your claims in past price trends. This time the market is very much stable. This has made the cryptomarket to be much more stronger than other forms of investments. No need to think of market getting crashed, it is believed that the market will gain momentum to be above specific price forever. If that happens we can expect the price to be stand without any massive downward movement.
This wouldn't be for too long, remember the fact that we still haven't reached price correction yet. So this value's not the endgame value of bitcoin, January 2021 most likely will see the deumping of the coin, which will then give people the chance to invest in it.
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