Bitcoins last move up ($50K+)

Discussion in 'Digital Currencies' started by tozak, Sep 23, 2017.

  1. tozak

    tozak Well-Known Member Silver Stacker

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    I have been watching Bitcoin since it was at 50 cents. I have bought, sold, mined, traded and have used it for payments. Just wish I bought in on it sub $200, but everyone probably has a similar story to tell. I have been a big supporter of Bitcoin and understand why it won't be replaced with other cryptos, even if they function better. It's to do with established trust, confidence and convenience. Just for an example if I was to put an iPhone into the hands of every person on earth but then after they were accustomed to it try and sell them a Samsung running Android the resistance would be futile, even if it could be proven it was cheaper, faster and more versitile. How hard would it be to shift an entire community of users onto a foreign platform using only the incentivisation of a better product? It's near impossible.

    However, as big a supporter I am, I feel the days of high priced cryptos are numbered. Many similarities can be drawn between the "investment" methodology in cryptos to that of the dot com bubble. Block chain to me is about as big a deal as the Internet first was (I remember the pre-Internet days, bouncing around on dial up bulletin boards). But the aftermath of the dot com crash did not see an end to the Internet, far from it. It just saw an end to the speculating in an over priced market, a market where sentiment was that people were "getting in" on a new technology by simply buying up overpriced investments. Likewise people with no idea how a block chain works and what its capable of are buying up cryptos now. This wild ride will end and the value of these coins will likely never reach a fraction of their highs again.

    So have I turned from Bull to Bear? Well not yet. But looking at the charts, history and human psychology, I think time wise we are right near the end of it. I give Bitcoin one last leg up, then it's all over. The next run up will start once it has broken $5,000 and then retest it for support and then breaks $6,000. From there I'm predicting a massive last final push that will drive it to somewhere between $50,000 - $1,000,000 before crashing. This last move will see even the most cautious investor and even the biggest critic's caught up in the hype.

    Just think ever person in the world with access to the internet "getting rich" by buying in on an "investment" that is limited in supply, trades 24/7, has little to no government oversight, little to no regulation and no executives leaching stock options out of it. We are at the stage right now where the main stream is aware and mass psychology is forming, this is why I predict the next break out will be the final one, this last move will exhaust all new potential investors.

    What will follow after the big "Crypto Crash of 2018" likely a ton of diverted capital re-entering the precious metals market again. The end to the crypto bubble will see the start of the next metal run up.
     
  2. Altima

    Altima Well-Known Member Silver Stacker

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    Seeing how there's still plenty of naysayers (on this forum and outside), I think we're still pretty much far away from that predicted crash as you mentioned. I suppose I should be grateful for those who are still skeptical of cryptocurrencies and/or blockchain technology itself. :D
     
  3. BuggedOut

    BuggedOut Well-Known Member Silver Stacker

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    I am thinking similarly but I reckon we might get a run up in October and November with a peak as SegWit2x goes live - if there is going to be more "free coins"

    If we get another Bitcoin split its going to cause a problem for a lot of alt coins because everything is priced in BTC.
     

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  4. whay

    whay Active Member

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  5. Altima

    Altima Well-Known Member Silver Stacker

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  6. southerncross

    southerncross Well-Known Member Silver Stacker

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    Still plenty of fuel left in the tank yet.

    From Zero Hedge.


     
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  7. whay

    whay Active Member

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    Being there done that many times.
     
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  8. tozak

    tozak Well-Known Member Silver Stacker

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    Still on target, I still don't see any major pull backs coming in Bitcoin, this is the last final push of a bull cycle that will see a crash next year with a peak price between ($50K - $1M)

    Bitcoin will pull way out in front of all the other Alt coins at some point (maybe late this year or early next year) as mainstream buying hits it's peak

    The crash next year will see money start pouring back into the metals, I see Silver over AU$30 in 2018 over AU$100 in 2019 and over AU$250 in 2020

    I'm sure this all sounds just as ludicrous as when I started calling for an upcoming rally in Silver in 2009 or when I was talking up Bitcoin in 2013. But I'm not here to persuade anyone with technical charts or data and not going to elaborate too much on how I come up with my own personal predictions other that just observing long term mass psychology, supply and demand
     
  9. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    So you’d have at least a 125% exposure to BTC then? :rolleyes:
     
  10. dozerz

    dozerz Well-Known Member Silver Stacker

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    so bitcoin cap is already about $140 billion in front of ether, how much more is it going to pull away? you mention a crash but to where and what price is the norm? seems logical but light on detail.

    the silver prediction is something id expect to see on a silver forum, ill start backing up the truck for 2020 :)
     
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  11. Altima

    Altima Well-Known Member Silver Stacker

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    Too light on details...

    I'll just stick to FA and TA to guide my buying. I don't think this train is done anytime soon. 2018 is going to be an interesting and fun year for crypto :)
     
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  12. tozak

    tozak Well-Known Member Silver Stacker

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    And Bitcoin has just started pulling away from the ALTs as predicted.

    It will be all over before end of March 2018.

    A new paradigm approaching, not.
     
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  13. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    No one could have predicted BTC’s mammoths rise over the past 2 weeks. The information we know now was not publicly available 2 weeks ago.
     
  14. dozerz

    dozerz Well-Known Member Silver Stacker

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    so it will crash, again to what level? and will it bounce back or stay at that level? if youre going to make a prediction at least add some details. happy to revisit this in march 2018.
     
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  15. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    Without having actual proof, the CME announcements.
     
  16. Phiber

    Phiber Active Member Silver Stacker

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    It's been known for some time though Shiney, unless I have missed out on something?
     
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  17. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    Didn’t they just settle on an actual date in these past two weeks? I may have my wires crossed.
     
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  18. Phiber

    Phiber Active Member Silver Stacker

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    I guess my point is we knew it was coming sometime in December anyway if I am not mistaken.
     
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  19. tozak

    tozak Well-Known Member Silver Stacker

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    Yes, the Alt coins will drive higher in nominal price but under-perform compared to Bitcoin.

    Yes, happy to check back in March 2018. I have no idea what nominal level would be, maybe $0 or $10 or $200 or $1,000, however no-one in this generation will ever want to 'hold' Bitcoin as an 'investment' again, it will be a bloodbath.
     
  20. dozerz

    dozerz Well-Known Member Silver Stacker

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    see you in 14 weeks :)

    ill counter and say both alts and btc will be higher by 50% come 30th March 2018.
     

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