mrob82
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January 13, 2021, 11:31:30 PM |
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It's going to be a year of violent swings in both directions. I think traders are either going to get smart or get hammered, no middle ground. The best case for non active traders are going to be either cost dollar average or to buy on extreme dips. I am waiting for a true decoupling of US Market/BTC and the US Market/GLD&SLV. People said this happened 12-18 months ago, but that is not true - there was not a definitive decoupling. Once we see this, traders will be able to better gage the direction.
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TheUltraElite
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So anyway, I applied as a merit source :)
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January 14, 2021, 05:56:52 AM |
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If I look at the technical basis, the RSI is currently Over Bought and there should be a correction. I haven't seen an RSI below 30 in a while. Bitcoin should undergo a correction at the support point to meet the GAP. Yet many speculators say bitcoin will continue to pump. high risk when trading in the current market Those who are saying that it will pump higher are scared that it might drop. Must be bagholders who are now feeling the heat because they forgot to sell at 40k and now watching the 34k price. One bad thing that I noted was that since the pump was astronomical, the support levels between these price tags were not high yet. Hence the reason why they drop very quickly once they pump super high. Still the 33-34k USD prices are being held and lets assume this to be the next support level for now if we dont drop further. Hoping to see more drastic changes in price soon before it becomes stable.
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Vishnu.Reang
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January 14, 2021, 06:54:46 AM |
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The Bitcoin market cap has increased by more than $500 billion ever since the current market rally began. And the trends indicate that institutions are still mopping up the excess supply, although at reduced rates. The pace at which Bitcoin moved from $19,000 to $42,000 in just one month rattled a lot of the investors. They were never expecting the prices to move this fast. Even those who were planning to invest in BTC were forced to hold their decision for sometime. However, now the indications are that the investment has started pouring in once again.
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Mauser
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January 14, 2021, 07:58:54 AM |
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We had a small drop in bitcoin prices in the last week but we are already up 10% again since yesterday. 40,000 USD is still around the corner. In my opinion these new prices we see at the moment are long term and will stay here. There are too many people now who believe in bitcoins are willing to buy at a cheap level. Without so much support the price would have likely dropped down again to below $20,000 USD. But the longer the price will remain at these levels the more optimistic new investors will become and start buying new bitcoins.
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finaleshot2016
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January 14, 2021, 10:33:29 AM |
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For me, I think this BTC rise that happened recently was temporary as people got interested in bitcoin and invested more in it. There are various things that happened like the BTC announcement of PayPal, the recent US election and of course, the influence of rich people in social media. Bitcoin is still increasing right now but eventually, it'll go back to the normal prize, we know that correction exists in the market. We had a small drop in bitcoin prices in the last week but we are already up 10% again since yesterday. 40,000 USD is still around the corner. In my opinion these new prices we see at the moment are long term and will stay here. There are too many people now who believe in bitcoins are willing to buy at a cheap level. Without so much support the price would have likely dropped down again to below $20,000 USD. But the longer the price will remain at these levels the more optimistic new investors will become and start buying new bitcoins.
It seems that bitcoin still keeps resisting, I thought correction will now occur, price drop but instead, it rises up again.
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Janation
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January 17, 2021, 07:16:32 AM |
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I think It is temporary. Cause market is not stable It's dumping and pumping instanly. You can watch the graph chart of ltc. Market is quite unstable at the time. Though prices are pumping shockingly It's not stable. So i think It's temporay. We may have seen this kind of temporary market pushes in near past.
That is true though. It is unstable and right now the correction might be happening but I think it will just fall for the better of the price in the near future. What I mean is that it will be a brief period of time for Bitcoin to rest and after that short period, it will just go back to what it is doing since the start of the year.
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Princejebs
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January 17, 2021, 10:04:23 AM |
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The recent Bitcoin growth is certainly different from that of 2017. It was during that period we have lots of ICO promises that want to give lambo to investors, so many unnecessary start ups that couldn't last sell pressure from sellers and end up dead with out value. Many thought of BTC in that manner and that's why the growth didn't last as we experienced in this season. If you view this critically, there is so many adoption from different institutions and likely may see more as we sail to further. Biden or Joe, bitcoin will grow.
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qwertyup23
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January 17, 2021, 11:05:57 AM |
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Just my realization in the past years, ever since I joined this forum way back in 2017, I have accumulated around 0.45 bitcoins overall purely from participating in campaign signatures. Back then, price of 1 bitcoin was equal to around $5,000.
Currently, it is the start of 2021 and the price of bitcoin has increased significantly in the past few weeks. The price sits at around $34,000-$35,000 with little highs/lows as it remains on that price set. I would think that around 3-4 years from now, prices would significantly increase again due to its diminishing supply. As I highly advise, the keep your bitcoins for long-term; with the exception if there are expenses that need to be fulfilled asap.
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el kaka22
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January 18, 2021, 04:01:18 PM |
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It is fundamentally wrong that things go up and down constantly without any change at all. It is obvious that you could have up and down type of changes, but the reality is that you could also have a slowly gradual increase for a very long time, or even have some sort of stable price for a very long time as well. So, I am not saying bitcoin will not crash, it could still crash, but the reality is that people act as if that is the only option.
I personally think at around $50k levels we are going to get stuck and not move, that looks like a possible thing, and by around that price we will build support levels and resistance levels and we are going to go up and down between the support and resistance level for a very long time, not because we can't break it, as proven otherwise we can break any level, but more like we wouldn't want to and just stay there.
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Rexler
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January 18, 2021, 04:40:13 PM |
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What do you think of the recent price gains and if the prices will stay up or crash out?
IMO I think the price of bitcoin will continue to stay up for now, I doubt if it's going to crash anytime soon cause they are still much hype around it, but again we can't always tell what the future holds, so fingers crossed for now. In my opinion the upward price action is caused by institutional investors' interest in Bitcoin. Some people who were skeptical about Bitcoin recognized it potential only after PayPal announcement.
Agreed, after PayPal made that announcement large financial institutions started investing/buying more bitcoin and using it as a store of value for them company,before then they all saw bitcoin as a bubble and not as an asset.
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South Park
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January 18, 2021, 06:25:11 PM |
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For my part, unless there is some earth-shattering action from some of the government agencies, the Bitcoin prices are very unlikely to drop below the $30,000 level. Because the user profiles have undergone a massive change during the past few months. Institutions and mainstream investors have entered the market, and they are mostly investing for the long term.
That is an assumption that we are making and it can be a dangerous one, institutional investors are in it for the money they can gain, they have no ideological ties with bitcoin, most likely they do not care if they destroy bitcoin in the process, they only care about the profits that they can make with it and if for some reason they want to sell their coins you can be sure that they are going to crash the market in the process because it is going to be impossible to absorb so many coins so quickly.
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Wipeout2097
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January 18, 2021, 08:47:15 PM |
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In my Opinion, The later rise in costs will be brief, and the cost will increment and diminish once more. That's what happens to the showcase from a long time prior. But if you explore for long-term, the cost may well be expanded so tall, and you'll not know how tall the price will increment. I think dealers presently utilize this time to form as much benefit as conceivable some time recently the cost drops as well profound, and they will get out for a whereas from the showcase and appreciate the earned bucks.
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Twentyonepaylots
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January 18, 2021, 09:07:56 PM |
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If I look at the technical basis, the RSI is currently Over Bought and there should be a correction. I haven't seen an RSI below 30 in a while. Bitcoin should undergo a correction at the support point to meet the GAP. Yet many speculators say bitcoin will continue to pump. high risk when trading in the current market Those who are saying that it will pump higher are scared that it might drop. Must be bagholders who are now feeling the heat because they forgot to sell at 40k and now watching the 34k price. One bad thing that I noted was that since the pump was astronomical, the support levels between these price tags were not high yet. Hence the reason why they drop very quickly once they pump super high. Still the 33-34k USD prices are being held and lets assume this to be the next support level for now if we dont drop further. Hoping to see more drastic changes in price soon before it becomes stable. This does not look so ridiculous now that bitcoin is stuck at 30-40k than when it was still at 8k last year. And this may definitely be the case until we reach a certain price point people will be comfortable to deflate the coin into. As of now the main reason why bitcoin's price is not going down is because of the efforts of private companies in pumping bitcoin's price along with the small-timers hesitation to cash out due to ginormous transaction fees. This wouldn't really happen if there is ever any way bitcoin can be converted to cash without paying too much transaction fees, but we are stuck in here, so we gotta deal with it. That being said, one can expect that this ATH is here to stay for a while, until a game-breaking event happens which will amp the people's confidence in cashing out.
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Lanatsa
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January 18, 2021, 09:26:50 PM |
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For my part, unless there is some earth-shattering action from some of the government agencies, the Bitcoin prices are very unlikely to drop below the $30,000 level. Because the user profiles have undergone a massive change during the past few months. Institutions and mainstream investors have entered the market, and they are mostly investing for the long term.
That is an assumption that we are making and it can be a dangerous one, institutional investors are in it for the money they can gain, they have no ideological ties with bitcoin, most likely they do not care if they destroy bitcoin in the process, they only care about the profits that they can make with it and if for some reason they want to sell their coins you can be sure that they are going to crash the market in the process because it is going to be impossible to absorb so many coins so quickly. For institutional investors then we can really say that they do really have that buying power and accumulating lots of coins in a short time duration. This might had been the reason on why we skyrocketed so fast but doesn't mean that this is already a good indication that we might experience ahead. As mentioned that selling time would really be there and time will come for it to happen.Its just impossible not to think on why the heck they do invest out? They aren't pertaining about its long term potential or usage but of course for money making opportunity.
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tygeade
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January 20, 2021, 06:13:49 AM |
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I believe they are not temporary at all, but I do not believe it will continue to go up for now neither. I believe 40k is totally realistic price for bitcoin, I actually believe 400-500 thousand dollars level is "realistic" target for our cap as well, I do not see it becoming 1 million dollars per bitcoin because that would be nearly twice of gold market cap and I do not see that happening but 400-500k is about gold market cap give or take and that could potentially happen.
At the end of the day bitcoin needs a realistic max that it can ever reach, and I believe that is half a million dollars, maybe it will happen in a few years, maybe a decade but that is the max I can see it going. Until that price is reached I believe there isn't going to be anything big that would be shocking, we can reach to 100k and it wouldn't be shocking to me at all, as long as we are at realistic levels.
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cryptomaniac_xxx
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January 20, 2021, 07:01:51 AM |
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For my part, unless there is some earth-shattering action from some of the government agencies, the Bitcoin prices are very unlikely to drop below the $30,000 level. Because the user profiles have undergone a massive change during the past few months. Institutions and mainstream investors have entered the market, and they are mostly investing for the long term.
That is an assumption that we are making and it can be a dangerous one, institutional investors are in it for the money they can gain, they have no ideological ties with bitcoin, most likely they do not care if they destroy bitcoin in the process, they only care about the profits that they can make with it and if for some reason they want to sell their coins you can be sure that they are going to crash the market in the process because it is going to be impossible to absorb so many coins so quickly. That is the worst case scenario, but remember that this institutions are in for the long haul. Maybe their target price is like $100k to really make some liquidations, and of course to make profit. But there could really be buyers as well, if they decided to sell then someone in the wing are waiting. Also bitcoin supply is dwindling, it's running out so getting it is going to be hard and these institutions knows that's why I doubt that they are going to sell in the next couple of years.
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AicecreaME
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January 20, 2021, 11:52:12 AM |
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BTC has risen quite a bit recently, but at a slower overall rate than in December 2017.
I disagree. The Bitcoin price what we had last December 2020 until now was from $20,000 to $42,000 and that's a $22,000 increase in just couple of weeks, while in 2017, we had $900 to $20,000 which is only $11,000 of price increase, so what's the "slower" rate you were trying to say? It is Crystal clear that Bitcoin is much more aggressive now than before, that's because of recent countries adopted Bitcoin and big companies like Tesla and Microstrategy investing in bitcoin.
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Fredomago
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January 21, 2021, 02:25:19 AM |
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For my part, unless there is some earth-shattering action from some of the government agencies, the Bitcoin prices are very unlikely to drop below the $30,000 level. Because the user profiles have undergone a massive change during the past few months. Institutions and mainstream investors have entered the market, and they are mostly investing for the long term.
That is an assumption that we are making and it can be a dangerous one, institutional investors are in it for the money they can gain, they have no ideological ties with bitcoin, most likely they do not care if they destroy bitcoin in the process, they only care about the profits that they can make with it and if for some reason they want to sell their coins you can be sure that they are going to crash the market in the process because it is going to be impossible to absorb so many coins so quickly. That is the worst case scenario, but remember that this institutions are in for the long haul. Maybe their target price is like $100k to really make some liquidations, and of course to make profit. But there could really be buyers as well, if they decided to sell then someone in the wing are waiting. Also bitcoin supply is dwindling, it's running out so getting it is going to be hard and these institutions knows that's why I doubt that they are going to sell in the next couple of years. No doubt that they are here for profits, what might likely to happened is they'll be bringing this assets too much bigger audience and allow newcomers to invest in, whatever the target is still unknown. The good catch is institutional investors in not like come and go type of investors they are well aware that there's a perfect time before harvesting profits. They've got the right target and they will aimed for the big one before letting go of their assets.
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bryant.coleman
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January 21, 2021, 04:38:03 AM |
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That is the worst case scenario, but remember that this institutions are in for the long haul. Maybe their target price is like $100k to really make some liquidations, and of course to make profit. But there could really be buyers as well, if they decided to sell then someone in the wing are waiting. Also bitcoin supply is dwindling, it's running out so getting it is going to be hard and these institutions knows that's why I doubt that they are going to sell in the next couple of years. Institutions usually don't offload their assets that quickly. Although I would say that some of the institutional investors may not be looking to hold the coins for the long term, the vast majority would be willing to hold them for at least a few years. They do their investments in a systematic way. At the time of investment, they will be having a target. If that target is achieved within 6 months, then we can expect them to dump their coins within that period. On the other hand, if it takes more than 5 years, then they will hold the coins for that much time. But the most worrying aspect here is that they will be having a stop loss target as well. If the BTC exchange rates go below a certain limit, then we can expect a massive selloff.
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South Park
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January 21, 2021, 06:06:49 PM |
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For my part, unless there is some earth-shattering action from some of the government agencies, the Bitcoin prices are very unlikely to drop below the $30,000 level. Because the user profiles have undergone a massive change during the past few months. Institutions and mainstream investors have entered the market, and they are mostly investing for the long term.
That is an assumption that we are making and it can be a dangerous one, institutional investors are in it for the money they can gain, they have no ideological ties with bitcoin, most likely they do not care if they destroy bitcoin in the process, they only care about the profits that they can make with it and if for some reason they want to sell their coins you can be sure that they are going to crash the market in the process because it is going to be impossible to absorb so many coins so quickly. That is the worst case scenario, but remember that this institutions are in for the long haul. Maybe their target price is like $100k to really make some liquidations, and of course to make profit. But there could really be buyers as well, if they decided to sell then someone in the wing are waiting. Also bitcoin supply is dwindling, it's running out so getting it is going to be hard and these institutions knows that's why I doubt that they are going to sell in the next couple of years. At this point anything is possible, while I also believe that institutional investors decided to come to the market because they see the long term potential of bitcoin the scenario that I presented cannot be discarded, there is always the possibility that they may decide to sell before reaching their targets and if they do so massively then the price could take an enormous hit and with it the confidence in bitcoin and its future as a store of value.
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