Calling $20 solid floor

[God Donut]

I've sold most of my BTC at about $290 rate couple of days ago
I've finally realized that bitcoin is currently at a bubble state (took me long to realize that, eh?). In order for bitcoin to function we need as much as $100M market cap which makes like $7 per BTC. Shurely some1 may still hold coins so I guess the price will not drop below $20 (±$10). Not going to predict when it is going to happen, but it eventually will fall to this kinda prices.

Current BTC price is WAY too expensive. If you are not selling now you are going to wait for a loooong time to see $190. I am talking to those permabulls here who still beleive BTC is going up in value soon. Its not. Not giving any advice to day traders here coz I don't know much about day trading.

Time will tell if I'm right or wrong.

I love bitcoin and I believe its a game changer. But currently its a bubble. We should wait until it is down to about $20 per BTC and then buy back in to see it slowly rise to $10k

Posting this because I wish I've seen this kind of advice few months back when I could sell my stash at a rate of $400 per BTC

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[dinofelis]

I've sold most of my BTC at about $290 rate couple of days ago
I've finally realized that bitcoin is currently at a bubble state. In order for bitcoin to function we need as much as $100M market cap which makes like $7 per BTC. Shurely some1 may still hold coins so I guess the price will not drop below $20 (±$10)

Current BTC price is WAY too expensive. If you are not selling now you are going to wait for a loooong time to see $190. I am talking to those permabulls herer who still beleive BTC is going up in value soon. Its not. Not giving any advice to day traders here coz I don't know much about day trading.

Time will tell if I'm right or wrong.

I love bitcoin and I believe its a game changer. But currently its a bubble. We should wait until it is down to about $20 per BTC and then buy back in to see it slowly rise to $10k

Posting this because I wish I've seen this kind of advice few months back when I could sell my stash at a rate of $400 per BTC

People are finally understanding the fundamentals of a currency :-)

[kwukduck]

You've been seeing this advice for a bit longer than a few months now... mr. Troll...

[r0ach]

Bitcoin could go to 0 if something bad happened, but otherwise, I don't see it being possible to go under $125ish.  The fiat banking system is in such bad shape that tons of people are going to hold Bitcoin as insurace against it.

[God Donut]

You've been seeing this advice for a bit longer than a few months now... mr. Troll...

I've seen it but I didn't pay much attention. I wish I did since I was holding a considerable amount of BTC and now I regret alot I didn't sell it earlier
I know some people keep their life savings in BTC. I know it is painful to sell now. But you are going to wish you've sold today at a current ($180-ish) rate in a week from now.

[God Donut]

Bitcoin could go to 0 if something bad happened, but otherwise, I don't see it being possible to go under $125ish.  The fiat banking system is in such bad shape that tons of people are going to hold Bitcoin as insurace against it.

there is no reason for BTC to cost that much. The only reason BTC may hold its value is by being a transactional tool. Less and less people will be keeping it as an investment. According to current transaction volume bitcoin will not fall below 7$ if nothing disastrous happens (like the end of the world or smth)

[r0ach]

Bitcoin could go to 0 if something bad happened, but otherwise, I don't see it being possible to go under $125ish.  The fiat banking system is in such bad shape that tons of people are going to hold Bitcoin as insurace against it.

there is no reason for BTC to cost that much. The only reason BTC may hold its value is by being a transactional tool. Less and less people will be keeping it as investment. According to current transaction volume bitcoin will not fall below 7$ if nothing disastrous happens (like the end of the world or smth)

You do realize the real world financial system can collapse any second right?  What good does going all in on fiat do then?  This is why Bitcoin is worth something, the alternative is as bad or worse.

[Amph]

Bitcoin could go to 0 if something bad happened, but otherwise, I don't see it being possible to go under $125ish.  The fiat banking system is in such bad shape that tons of people are going to hold Bitcoin as insurace against it.

there is no reason for BTC to cost that much. The only reason BTC may hold its value is by being a transactional tool. Less and less people will be keeping it as an investment. According to current transaction volume bitcoin will not fall below 7$ if nothing disastrous happens (like the end of the world or smth)

cost that much? righ now the market cap is ridiculous low, bitcoin is super undervaluted

[God Donut]

Bitcoin could go to 0 if something bad happened, but otherwise, I don't see it being possible to go under $125ish.  The fiat banking system is in such bad shape that tons of people are going to hold Bitcoin as insurace against it.

there is no reason for BTC to cost that much. The only reason BTC may hold its value is by being a transactional tool. Less and less people will be keeping it as investment. According to current transaction volume bitcoin will not fall below 7$ if nothing disastrous happens (like the end of the world or smth)

You do realize the real world financial system can collapse any second right?  What good does going all in on fiat do then?  This is why Bitcoin is worth something, the alternative is as bad or worse.

I don't see world financial system collapsing any time soon. US Dollar is not going to lose 90% of its value in a couple of months unlike bitcoin

[God Donut]

Bitcoin could go to 0 if something bad happened, but otherwise, I don't see it being possible to go under $125ish.  The fiat banking system is in such bad shape that tons of people are going to hold Bitcoin as insurace against it.

there is no reason for BTC to cost that much. The only reason BTC may hold its value is by being a transactional tool. Less and less people will be keeping it as an investment. According to current transaction volume bitcoin will not fall below 7$ if nothing disastrous happens (like the end of the world or smth)

cost that much? righ now the market cap is ridiculous low, bitcoin is super undervaluted

what makes you think this way?
I personally think bitcoin should worth $20 because of current transaction volume. It may not be a good investment tool due to its hight price volatility. This is my reasoning. What is yours?

[Amph]

Bitcoin could go to 0 if something bad happened, but otherwise, I don't see it being possible to go under $125ish.  The fiat banking system is in such bad shape that tons of people are going to hold Bitcoin as insurace against it.

there is no reason for BTC to cost that much. The only reason BTC may hold its value is by being a transactional tool. Less and less people will be keeping it as an investment. According to current transaction volume bitcoin will not fall below 7$ if nothing disastrous happens (like the end of the world or smth)

cost that much? righ now the market cap is ridiculous low, bitcoin is super undervaluted

what makes you think this way?
I personally think bitcoin should worth $20 because of current transaction volume. It may not be a good investment tool due to its hight price volatility. This is my reasoning. What is yours?

there are too few bitcoin, to be worth so low, if everyone would have 1 btc it must be worth thousand of dollar, this isn't about reason it's simple math, it can't have such low value or it die

[God Donut]

Bitcoin could go to 0 if something bad happened, but otherwise, I don't see it being possible to go under $125ish.  The fiat banking system is in such bad shape that tons of people are going to hold Bitcoin as insurace against it.

there is no reason for BTC to cost that much. The only reason BTC may hold its value is by being a transactional tool. Less and less people will be keeping it as an investment. According to current transaction volume bitcoin will not fall below 7$ if nothing disastrous happens (like the end of the world or smth)

cost that much? righ now the market cap is ridiculous low, bitcoin is super undervaluted

what makes you think this way?
I personally think bitcoin should worth $20 because of current transaction volume. It may not be a good investment tool due to its hight price volatility. This is my reasoning. What is yours?

there are too few bitcoin, to be worth so low, if everyone would have 1 btc it must be worth thousand of dollar, this isn't about reason it's simple math, it can't have such low value or it die

Very few people use bitcoin right now. It is still new and unknown technology.
You may see daily transaction volume
https://blockchain.info/charts/estimated-transaction-volume-usd
Market cap should be about this size

I do beleive that bitcoin (or similar decentralized currency) is going to be used by billions of people all over the world in not too distant future. But today bitcoin is still very new and unknown to the world and this is why current BTC prices are too damn high. Its a bubble which is bursting right now

[beetcoin]

Bitcoin could go to 0 if something bad happened, but otherwise, I don't see it being possible to go under $125ish.  The fiat banking system is in such bad shape that tons of people are going to hold Bitcoin as insurace against it.

there is no reason for BTC to cost that much. The only reason BTC may hold its value is by being a transactional tool. Less and less people will be keeping it as an investment. According to current transaction volume bitcoin will not fall below 7$ if nothing disastrous happens (like the end of the world or smth)

cost that much? righ now the market cap is ridiculous low, bitcoin is super undervaluted

what makes you think this way?
I personally think bitcoin should worth $20 because of current transaction volume. It may not be a good investment tool due to its hight price volatility. This is my reasoning. What is yours?

there are too few bitcoin, to be worth so low, if everyone would have 1 btc it must be worth thousand of dollar, this isn't about reason it's simple math, it can't have such low value or it die

Very few people use bitcoin right now. It is still new and unknown technology.
You may see daily transaction volume
https://blockchain.info/charts/estimated-transaction-volume-usd
Market cap should be about this size

I do beleive that bitcoin (or similar decentralized currency) is going to be used by billions of people all over the world in not too distant future. But today bitcoin is still very new and unknown to the world and this is why current BTC prices are too damn high. Its a bubble which is bursting right now

funny, because before.. everyone was comparing bitcoin to the internet, and focusing on how the internet blew up overnight. now bitcoin's going to take decades to get off the ground? i'm not so sure.. and i never bought into the the internet comparison.

[God Donut]

Bitcoin could go to 0 if something bad happened, but otherwise, I don't see it being possible to go under $125ish.  The fiat banking system is in such bad shape that tons of people are going to hold Bitcoin as insurace against it.

there is no reason for BTC to cost that much. The only reason BTC may hold its value is by being a transactional tool. Less and less people will be keeping it as an investment. According to current transaction volume bitcoin will not fall below 7$ if nothing disastrous happens (like the end of the world or smth)

cost that much? righ now the market cap is ridiculous low, bitcoin is super undervaluted

what makes you think this way?
I personally think bitcoin should worth $20 because of current transaction volume. It may not be a good investment tool due to its hight price volatility. This is my reasoning. What is yours?

there are too few bitcoin, to be worth so low, if everyone would have 1 btc it must be worth thousand of dollar, this isn't about reason it's simple math, it can't have such low value or it die

Very few people use bitcoin right now. It is still new and unknown technology.
You may see daily transaction volume
https://blockchain.info/charts/estimated-transaction-volume-usd
Market cap should be about this size

I do beleive that bitcoin (or similar decentralized currency) is going to be used by billions of people all over the world in not too distant future. But today bitcoin is still very new and unknown to the world and this is why current BTC prices are too damn high. Its a bubble which is bursting right now

funny, because before.. everyone was comparing bitcoin to the internet, and focusing on how the internet blew up overnight. now bitcoin's going to take decades to get off the ground? i'm not so sure.. and i never bought into the the internet comparison.

hm.. I think it took decades for internet to get from a laboratory network to a world wide web. Bitcoin is spreding very fast compared to the Internet. Altho not nearly as fast as bitcoin bubble pumpers would hope

[BitCoinNutJob]

I love bitcoin and I believe its a game changer. But currently its a bubble.

It had its chance to go down to $20 or whatever many months after crashing from $266.  If we go that low again its cause its over.

[JamesBrown]

Bitcoin could go to 0 if something bad happened, but otherwise, I don't see it being possible to go under $125ish.  The fiat banking system is in such bad shape that tons of people are going to hold Bitcoin as insurace against it.

there is no reason for BTC to cost that much. The only reason BTC may hold its value is by being a transactional tool. Less and less people will be keeping it as an investment. According to current transaction volume bitcoin will not fall below 7$ if nothing disastrous happens (like the end of the world or smth)

cost that much? righ now the market cap is ridiculous low, bitcoin is super undervaluted

what makes you think this way?
I personally think bitcoin should worth $20 because of current transaction volume. It may not be a good investment tool due to its hight price volatility. This is my reasoning. What is yours?

there are too few bitcoin, to be worth so low, if everyone would have 1 btc it must be worth thousand of dollar, this isn't about reason it's simple math, it can't have such low value or it die

Very few people use bitcoin right now. It is still new and unknown technology.
You may see daily transaction volume
https://blockchain.info/charts/estimated-transaction-volume-usd
Market cap should be about this size

I do beleive that bitcoin (or similar decentralized currency) is going to be used by billions of people all over the world in not too distant future. But today bitcoin is still very new and unknown to the world and this is why current BTC prices are too damn high. Its a bubble which is bursting right now

funny, because before.. everyone was comparing bitcoin to the internet, and focusing on how the internet blew up overnight. now bitcoin's going to take decades to get off the ground? i'm not so sure.. and i never bought into the the internet comparison.

The internet blew up overnight? This couldnt be further from the truth.
When compared to internet or email or other major technologies that required mass adoption the time has been 10-20yrs (depending on criteria and when did it start) and shrinking. In todays world everything happens faster.
2019 is 10yrs for bitcoin, if we assume it will happen faster... 2017?


@OP, I kinda feel the same way, lots of fkin regret from not going out earlier... However 20$ seems a little far fetched. Also the logic that market cap should equal transaction volume seems a lil flawed.

[God Donut]

I love bitcoin and I believe its a game changer. But currently its a bubble.

It had its chance to go down to $20 or whatever many months after crashing from $266.  If we go that low again its cause its over.

nothing is over
I see people calling death to bitcoin coz its price dropped. Price dropped because of a bubble burst not because something wrong with bitcoin itself. Bitcoin has seen several bubbles before and will probably face more bubbles in future.

[Cummins59]

It should hit $127 within a week. I sold my remaining BTC and will be back in NEVER. BTC is a bust. NO SECURITY, NO REGULATION and at this difficulty and price, NO incentive to mine.\ Buy gold. It has been here forever and will stay here forever. It is at the beginning of another bull market.

[entertainment]

We are going up.

[HCLivess]

Yes, it will happen now