Bitcoin will not be able to stay above $30k for 10 consecutive days ever again

[proudhon]

C'mon, you all knew it was coming.

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[Argoo]

Yes, the price of bitcoin has dropped even further today, dropping below $ 30,000, after a relatively long time marking time. There was a forecast that if this happens, then its price could collapse up to $ 10,000. The return path of growth, in this case, will be very long. However, another question arises here: if this happens a few more times, then who will invest in it on subsequent rises, say, above $ 40,000? Are we going to count on some newbies? Then it may not even rise to one hundred thousand dollars.

[BillyCoiner]

Yep, it was unsustainable at $30,000 but guess what, it’s unsustainable at $20,000 too. I genuinely believe within 12 months bitcoin will be under $10,000. It’s sad to see so many people conned by the likes of Saylor.

[proudhon]

Yep, it was unsustainable at $30,000 but guess what, it’s unsustainable at $20,000 too. I genuinely believe within 12 months bitcoin will be under $10,000. It’s sad to see so many people conned by the likes of Saylor.

Exactly!

[jackg]

Yes, the price of bitcoin has dropped even further today, dropping below $ 30,000, after a relatively long time marking time. There was a forecast that if this happens, then its price could collapse up to $ 10,000. The return path of growth, in this case, will be very long. However, another question arises here: if this happens a few more times, then who will invest in it on subsequent rises, say, above $ 40,000? Are we going to count on some newbies? Then it may not even rise to one hundred thousand dollars.

You've painted out a plan of bitcoin going up 4x and then said newbies won't buy it?

That's still a 4x return, it's all they'll see ans all the news will be reporting on...

[NeuroticFish]

C'mon, you all knew it was coming.

From you? Clearly.
And it's already somewhat funny: you've got it wrong a couple of times (and I've got cocky), now you've got it right a couple of times and you've got cocky...
I can't wait until the tide turns again 

[mk4]

And it's already somewhat funny: you've got it wrong a couple of times (and I've got cocky), now you've got it right a couple of times and you've got cocky...
I can't wait until the tide turns again  

You know what they say, create a decent number of price predictions and at some point you're going to get at least one of them right. The typical market fortune teller.

[janggernaut]

So what? This is good time to accumulate more bitcoin. In the few years later i do believe people will call us are lucky bastard to be able to buy bitcoin on below $30,000. Remember about last bitcoin ATH around $19,000 in late 2017 back then? Now people calling those people are lucky enough to able bought bitcoin on that cheap price.

[Alanaz]

if so, at least and give us the rationale, for example with some fundamental analysis or some techniques how to read Bitcoin price movements for the next 10 days. As a small trader I am very enthusiastic to listen to your discussion, not just mere speculation and leaving many questions.

[barota]

prices crash from 60k to 30 k since three months or more without stopping ,i don't know which type of market is bitcoin this not  good , i hope prices to recover soon , i dont know why this shema dump and pump happend every time , this is the problem when investing in bitcoin , prices fall and bitcoin will have no value , i hope bitcoin will recover very soon because traders does not want all this drama of crash

[ILuckyGuyI]

This day was going to come, it was quite obvious. In fact, I think that this fall will continue until the price reaches $25k. But then, I think that everything will start changing. We'll start leaving the bear market behind. And we'll hear the footsteps of a new bull run.

[bL4nkcode]

We'll start leaving the bear market behind. And we'll hear the footsteps of a new bull run.

Yeah, maybe next year if tesla will accept again bitcoin payment or wait till the 4th quarter since price differs always in the last few months of the year.

While others are selling and panicking that price will go so much down, there are some who buys the dip

1000 BTC - https://twitter.com/whale_alert/status/1417439982441074689
3714 BTC - https://twitter.com/whale_alert/status/1417402793137168407
1182 BTC - https://twitter.com/whale_alert/status/1417481275414355976

😉😎

[Natalim]

This day was going to come, it was quite obvious. In fact, I think that this fall will continue until the price reaches $25k. But then, I think that everything will start changing. We'll start leaving the bear market behind. And we'll hear the footsteps of a new bull run.

The dump is inevitable, it is bound to happen as correction is really necessary, whatever the reasons behind this fall, we should always think that this is a big correction on the bull runt that we had enjoyed this year. Of course, there's still the possibility that bitcoin will create a new ATH, but I doubt it will surpass the new ATH this year.

[Bitstar_coin]

prices crash from 60k to 30 k since three months or more without stopping ,i don't know which type of market is bitcoin this not  good , i hope prices to recover soon , i dont know why this shema dump and pump happend every time , this is the problem when investing in bitcoin , prices fall and bitcoin will have no value , i hope bitcoin will recover very soon because traders does not want all this drama of crash

And this is the period when people's loyalty to btc is tested and also you can clearly see from the bear market where the interest of the majority lies, people can lie to themselves all they want but eventually the reality always comes to light, when btc price is on the rise and pumping you will come across many self declaration topics about btc and where it stand, but ones the reverse is the case, thoughts will change drastically, and i ask myself, if fiat is the enemy then while people suddenly dump btc for fiat claiming bear market because if nobody is selling for fiat there won't be anything like bear market.

[proudhon]

if so, at least and give us the rationale, for example with some fundamental analysis or some techniques how to read Bitcoin price movements for the next 10 days. As a small trader I am very enthusiastic to listen to your discussion, not just mere speculation and leaving many questions.

Thankfully, Taleb put all the maths, science, and research into an easy to read 6 page, irrefutable paper. Bitcoin is worth $0. The knowledge of that fact is simply taking a long time to sink in because there's so much fake news about bitcoin and scammers. Of course, it's now apparent that more and more of the market is catching on, which is how I know for certain that bitcoin will not be able to stay above $30k for 10 consecutive days ever again. Every year from here out will see lower and lower bitcoin prices until it reaches it's mathematically proven value of $0.

[OROBTC]

if so, at least and give us the rationale, for example with some fundamental analysis or some techniques how to read Bitcoin price movements for the next 10 days. As a small trader I am very enthusiastic to listen to your discussion, not just mere speculation and leaving many questions.

Thankfully, Taleb put all the maths, science, and research into an easy to read 6 page, irrefutable paper. Bitcoin is worth $0. The knowledge of that fact is simply taking a long time to sink in because there's so much fake news about bitcoin and scammers. Of course, it's now apparent that more and more of the market is catching on, which is how I know for certain that bitcoin will not be able to stay above $30k for 10 consecutive days ever again. Every year from here out will see lower and lower bitcoin prices until it reaches it's mathematically proven value of $0.

That was an interesting paper by N N Taleb*.  Parts of it are a tad technical, but to get the gist of it is not that difficult.  I was a little disappointed that he did not lay out an easy inflation hedge though.

On the other hand, I enjoyed his remarks on the Italian telephone tokens (gettoni), I remember using them several years ago at Lake Como to do my clothes at the laundromat (ya know back in the days before buying and then reselling my BTC).

I highly recommend Taleb's paper recommended to all BTC-ers.

* N N Taleb wrote the book The Black Swan, and is considered brilliant in the world of quantitative finance.

[OgNasty]

Would be funny if this post was proven wrong 10 days after being posted. Tomorrow is a big day for Bitcoin. I suspect there will be some good news and at the very least a pump attempt. I’d be very concerned if I had placed shorts below $30K, as there’s a greater than zero chance you are about to get rekt.

[pooya87]

I think OP confused the meaning of the words "above" and "below"

While others are selling and panicking that price will go so much down, there are some who buys the dip

I don't think we had any significant amount of panic selling to be honest, otherwise the moment price went below $30k it should have escalated and like an avalanche price should have reached $20k, which it obviously didn't which goes to show the lack of panic sellers and price is not jumping back up again!

[BITCOIN4X]

I don't think we had any significant amount of panic selling to be honest, otherwise the moment price went below $30k it should have escalated and like an avalanche price should have reached $20k, which it obviously didn't which goes to show the lack of panic sellers and price is not jumping back up again!

It seem that the $29K support is still strong enough to withstand the panic selling that has been going on for at least 10 weeks since May. This is the reason why there is confidence to see bitcoin's much greater potential because institutional investors still want to survive in situation like this like MicroStrategy. Weak hands will sell out in a panic, while strong hands will hold on and will probably buy more on the way dips.

[coin-investor]

C'mon, you all knew it was coming.

If I have merit after ten days you posted this I will give you one for accurately predicting and being brave enough to predict, there will be a meeting going on between Dorsey and Musk and I'm sure you know all this and yet you come up with this bold prediction, so let's see the impact after that meeting, and if you are proven wrong better lock this thread.