qwizzie
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January 19, 2021, 03:12:54 PM Last edit: January 19, 2021, 07:35:39 PM by qwizzie |
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![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2FUoEadFf.jpg&t=665&c=lgi_5NScfAZemQ) Source : https://www.reddit.com/r/Bitcoin/comments/a4yrux/bitcoin_is_a_game_of_accumulation/I have put that set of data into a bar chart and extended the data set : ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2FO6lhdUp.jpg&t=665&c=b3G6yoxY1vknXg) How low will the Bitcoin price go this time ? An open question for now. I would not be surprised if another of those heavy (-80%) corrections occur. Time intervals between these Bitcoin ATH's : ATH 2011 ($35) 11-JUN-2011 NEW ATH 2013 ($260) NEW ATH DATE : 10-APRIL-2013 # of months to new ATH : 22 MonthsATH 2013 ($260) 10-APRIL-2013 NEW ATH 2013 ($1,140) NEW ATH DATE : 29-NOV-2013 # of months to new ATH : 7 MonthsATH 2013 (1,140) 29-NOV-2013 NEW ATH 2017 ($19,900) NEW ATH DATE : 17-DEC-2017 # of months to new ATH : 49 MonthsATH 2017 (19,900) 17-DEC-2017 NEW ATH 2021 ($42,000) NEW ATH DATE : 08-JAN-2021 # of months to new ATH : 37 MonthsATH 2021 ($42,000) 08-JAN-2021 NEW ATH ?? NEW ATH DATE : ?? # of months to new ATH : ??
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Learn from the past, set detailed and vivid goals for the future and live in the only moment of time over which you have any control : now
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wxa7115
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January 19, 2021, 06:53:39 PM |
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We had the dump. It went all the way down to $30k.
Next big correction probably won't occur until after we hit 6 digits. Then it might go as low as $40k-$50k rock bottom.
Institutional investors don't panic sell. Past large crashes were the result of weak-handed retail speculators. They are no longer the majority.
I think that this is the main factor that those that are speculating with the price are ignoring, the landscape and the composition of this market has changed dramatically, institutional investors have changed the game forever, they are in for the long haul and they are not going to get scared in the same way that retail investors did back in the day. If they have come to this market is because they are completely convinced that bitcoin is the future and it is the right way to protect the value of their money, and if the price of bitcoin has grown so much with only a few institutional investors it is fair to wonder what will happen when a significant number of them begin to see bitcoin as a store of value when the US dollar begins to crash, I really think that at that point even our wildest predictions will come up short.
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Stedsm
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January 19, 2021, 07:24:33 PM |
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I smell a massive dump to be happening in a few weeks if not days, but for that to happen, I believe BTC needs to get under $29k for a confirmation that the bullish trend is changing and then the trend will be biased until BTC goes either way. I firmly believe it should get down some day when that so-called institution decides to bring out their loaded guns (BTC which were accumulated between $6k to $20k) and suck the hell outta investors when they start tumbling the markets. But it won't be as quick as we saw in 2018, this time it'll be a slow death.
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JollyGood (OP)
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January 19, 2021, 07:42:09 PM |
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Going by what is in the image, things are going to be big when the collapse happens. For those that purchased Bitcoin at $40,000, if an 80% hit was to be taken then it means losing $32,000 and being left with just $8,000 I wonder how many people will end up destitute and how many will end up struggling. Buying and selling at the right time is what makes a successful trader, unfortunately too many people buy when the wave is high then discover during the crash they lost almost everything.
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abel1337
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January 19, 2021, 10:23:26 PM |
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Going by what is in the image, things are going to be big when the collapse happens. For those that purchased Bitcoin at $40,000, if an 80% hit was to be taken then it means losing $32,000 and being left with just $8,000 I wonder how many people will end up destitute and how many will end up struggling. Buying and selling at the right time is what makes a successful trader, unfortunately too many people buy when the wave is high then discover during the crash they lost almost everything. History repeats itself and dropping more than 80% is very possible. This is why we should know how the market moves and find the right time to buy and to sell our assets. I remember those who are new to crypto in the year 2017 who get caught by the crash, I hope that if they are still into crypto right now they know what to do when the correction comes.
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Gozie51
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
January 21, 2021, 09:08:18 PM |
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I smell a massive dump to be happening in a few weeks if not days, but for that to happen, I believe BTC needs to get under $29k for a confirmation that the bullish trend is changing and then the trend will be biased until BTC goes either way. I firmly believe it should get down some day when that so-called institution decides to bring out their loaded guns (BTC which were accumulated between $6k to $20k) and suck the hell outta investors when they start tumbling the markets. But it won't be as quick as we saw in 2018, this time it'll be a slow death.
Your speculation of $29k seem to be coming closer if the real fall is going to happen actually. The price has dropped from the ATH now at $31k and that is a huge fall within few days. Maybe is trying to rest at a good spot for another major direction which is either up or down but I don't think is going down back to $6k.
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Mahanton
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
January 21, 2021, 09:33:36 PM |
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I smell a massive dump to be happening in a few weeks if not days, but for that to happen, I believe BTC needs to get under $29k for a confirmation that the bullish trend is changing and then the trend will be biased until BTC goes either way. I firmly believe it should get down some day when that so-called institution decides to bring out their loaded guns (BTC which were accumulated between $6k to $20k) and suck the hell outta investors when they start tumbling the markets. But it won't be as quick as we saw in 2018, this time it'll be a slow death.
Your speculation of $29k seem to be coming closer if the real fall is going to happen actually. The price has dropped from the ATH now at $31k and that is a huge fall within few days. Maybe is trying to rest at a good spot for another major direction which is either up or down but I don't think is going down back to $6k. We cant tell until it would happen even though we are bit away but it could really crash back into that price.Inevitable? possibly yes and no because no one can ever predict on what would happen next. Just like now where we do see some issue or sentiment in the market where price had dipped down for a significant percentage but to know that there are days where its price do corrrects without having any news or sentiments in the market.For now we have seen one and this might be a trigger for a bear market once again.
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KTChampions
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January 21, 2021, 09:44:12 PM |
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History repeats itself and dropping more than 80% is very possible. This is why we should know how the market moves and find the right time to buy and to sell our assets. I remember those who are new to crypto in the year 2017 who get caught by the crash, I hope that if they are still into crypto right now they know what to do when the correction comes.
Theoretically, all people know what to do on a correction (although it is quite difficult to distinguish between a correction and a trend change), the only question is the availability of free money. Life is such that most people do not have free money, and using credit money in the crypto market is super unreliable.
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UnDerDoG81
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January 22, 2021, 12:39:00 AM |
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6K really?? Lol... Would be the first time in Bitcoin history we go below the ATH of the previous cycle.
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wxa7115
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January 25, 2021, 06:12:28 PM |
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Going by what is in the image, things are going to be big when the collapse happens. For those that purchased Bitcoin at $40,000, if an 80% hit was to be taken then it means losing $32,000 and being left with just $8,000 I wonder how many people will end up destitute and how many will end up struggling. Buying and selling at the right time is what makes a successful trader, unfortunately too many people buy when the wave is high then discover during the crash they lost almost everything. For that to happen bitcoin will have to go lower than its previous ATH which is something that has not happened, this is why many are speculating that this bull run needs to reach at least 100k, that way if it crashes 80% we go back to 20k, however it is also possible that the next cash is not going to be as big and bitcoin only losses 50% of its value and we reach 20k as well. At this point everything is speculation but personally I do not see bitcoin going below 10k level as institutional investors will buy the hell out of bitcoin if the price was anywhere near it.
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Kelvinid
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January 25, 2021, 11:54:27 PM |
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If we compute an 80% decrease from its ATH, it plays below $10k. And yet, we are still far from it and that seems a long wait to go or we remain at the high level rejected the next bearish season for the first time. If we are buying at $5k before, even the dump will come we are still profiting.
That to say that history repeats itself, I don't think it was happening for this time. TBH, that was not what I saw in the market trend but to see a different situation in which the pandemic is a big factor that causes it changes and making another great history.
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FireBallex
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January 26, 2021, 06:58:19 AM |
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If bitcoin dominance decrease alot and altcoins are given the chance to pump hard what do you think will happen? There are millions waiting to sell off their altcoin bags through altcoin season, if this happens we are going to a long bear market once again, there will surely be massive sell off
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Globb0
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January 26, 2021, 09:04:43 AM |
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If bitcoin dominance decrease alot and altcoins are given the chance to pump hard what do you think will happen? There are millions waiting to sell off their altcoin bags through altcoin season, if this happens we are going to a long bear market once again, there will surely be massive sell off
I think you described the bitcoin pump that will be the result. A tsunami of money running back to bitcon, potentially.
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wxa7115
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January 29, 2021, 09:39:01 PM |
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If bitcoin dominance decrease alot and altcoins are given the chance to pump hard what do you think will happen? There are millions waiting to sell off their altcoin bags through altcoin season, if this happens we are going to a long bear market once again, there will surely be massive sell off
That is the biggest problem, there are many people looking to sell their bags, but to begin with many of those that are holding those coins hold coins that are several years old and they invested out of hype and nothing more, those people will never recover their money as people are not going to invest in coins that old and prefer newer coins. So only those that held reasonable good coins have a chance to sell in the case of an altcoin market, which lead us to the second problem, even if there was a lot of buying pressure it will be nullified by the selling pressure of those bag holders diminishing the chances of an altcoin season significantly.
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JollyGood (OP)
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January 29, 2021, 10:37:56 PM |
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It will be a big hit for many to that if they lose 70-85% of the value of Bitcoin when the eventual crash happens. The image by qwizzie was a great visual take on how things can take a turn and the time it takes to reach all time highs. Going by what is in the image, things are going to be big when the collapse happens. For those that purchased Bitcoin at $40,000, if an 80% hit was to be taken then it means losing $32,000 and being left with just $8,000 I wonder how many people will end up destitute and how many will end up struggling. Buying and selling at the right time is what makes a successful trader, unfortunately too many people buy when the wave is high then discover during the crash they lost almost everything. History repeats itself and dropping more than 80% is very possible. This is why we should know how the market moves and find the right time to buy and to sell our assets. I remember those who are new to crypto in the year 2017 who get caught by the crash, I hope that if they are still into crypto right now they know what to do when the correction comes.
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