Bitcoins last move up ($50K+)
- Thread starter tozak
- Start date
down again.. BUY! BUY! BUY!!!
I'm personally pretty torn at the moment. What I mean is, do I want McAfee to be right, or do I want to see him eat his own Dick live on TV ?
Seems to be a whole lot of schadenfreude going on here at the moment and not much regard to the countless claims of BTC's alleged Death in the past, just take a look at dozer's chart above for a minute and Crypto's as a whole over the last twelve months.
A lot of smarter people than all of us seem to have a whole lot invested in Crypto including major Financial institutes. So ask yourself, are you gonna stay with the Herd?
Seems to be a whole lot of schadenfreude going on here at the moment and not much regard to the countless claims of BTC's alleged Death in the past, just take a look at dozer's chart above for a minute and Crypto's as a whole over the last twelve months.
A lot of smarter people than all of us seem to have a whole lot invested in Crypto including major Financial institutes. So ask yourself, are you gonna stay with the Herd?
But their crypto will be alright, as it is backed. As for the 1300 others the future doesn’t look bright for 99.9% of them.
How are we going? March is a week away.
Complete crypto crash 2018? Time will tell but highly (definitely won’t) unlikely.
Peak above $50K before the end of March? Unlikely (read "next to impossible”), would require a market cap of about USD825 billion, current 24hr trade is about USD8 billion. So we’d be looking at 5x volume of trade that we currently have ie USD40 billion per day, which just happens to be a quarter of the current market cap of BTC turned over each day and somehow, BTC’s price is going to rise during all of that.
USD100K? Well that was contingent upon BTC not crashing. Depends upon what the definition of “crashing” is, but not going to happen by the end of March, if at all this year, a 50% increase each month will see it get there by the end of August though.
I wonder if there will a consant protest outside his house wanting to see him eat his own dick?
How are we going? March is a week away.
Complete crypto crash 2018? Time will tell but highly (definitely won’t) unlikely.
Peak above $50K before the end of March? Unlikely (read "next to impossible”), would require a market cap of about USD825 billion, current 24hr trade is about USD8 billion. So we’d be looking at 5x volume of trade that we currently have ie USD40 billion per day, which just happens to be a quarter of the current market cap of BTC turned over each day and somehow, BTC’s price is going to rise during all of that.
USD100K? Well that was contingent upon BTC not crashing. Depends upon what the definition of “crashing” is, but not going to happen by the end of March, if at all this year, a 50% increase each month will see it get there by the end of August though.
Yeah this is not the 2018 crash I was talking about, it's just another pullback now, had Bitcoin broken the US$20K mark last year then I believe it would have pushed ahead fast to US$50K+ making it the final leg up and a real crash. Now that this last leg has not occurred we will have to wait for this last push forwards to occur. This pushes out the time-frame however also increases the potential new high coming. I would say price and time wise now it will break US$100K+ by sometime in 2020, however we may not see much more movement in Bitcoin for the next 12 to 18 months. I'm more bullish now than I have been in a long time, long term trend is looking spectacular and I'm already back buying more now. However the short term looks pretty poor, I expect the price to consolidate down around US$4,500-US$5,500 for many many months before heading higher, just compare it to the previous consolidation periods. I believe it's time to dollar cost average in and HODL any current positions. Put your hot wallets to sleep on paper and just wait it out as I don't expect much to happen now for quite some time, but when it does it's going to epic so I consider this the last opportunity to stake a position.
Not going to to pretend I know when it will exactly moon and how much to, but I do agree completely with everything else you said in terms of using this time to accumulate and HODL. I have no doubt that we are going to experience a massive bull run, but it might take quite some time to occur so I plan on accumulating the 3-5 coins I'm invested in and I'll just keep adding to those bags
I'm sure there are plenty of people/day traders making a killing in this current climate, but I won't pretend to be something I'm not - I know my strengths and weaknesses, and holding is definitely my strategy. I'm in no rush, I'll wait it out as long as necessary because I'm certain my patience and commitment will be rewarded in the future
I'm sure there are plenty of people/day traders making a killing in this current climate, but I won't pretend to be something I'm not - I know my strengths and weaknesses, and holding is definitely my strategy. I'm in no rush, I'll wait it out as long as necessary because I'm certain my patience and commitment will be rewarded in the future
Can find the link to where I saw it, however McAfee has now said he will outsource it, likely to some Thai “ladies”.
This video is an interesting take on Crypto:
In his 2018 predictions at the start of the year, Galloway thought Bitcoin would crash by 50% and probably in Q1. He does though also expect it to rebound.
Calling the bottom;
Well it did get a little lower than my 4.5K-5.5K low prediction in April 2018 but not a great deal. Today however when I checked the charts I noticed a bottom pattern and sure enough it ticked a little higher even just hours later. I feel farily confident now to say the selling phase is over. We will now see the uptrend take over again, the big momentum however I think will start in Feb/Mar this year and continue into the start of 2020. Still expecting it to reach 100K+ this year or next in a spectacular bubble top. If this next swing up considers with liquidity injections from Central Banks then even 100K may be only the start of the next peak. At some point during this next leg up I also expect the BTC dominance to go ballistic as it finally breaks away from the alt coins. While the alts will likely outperform Bitcoin at the beginning Bitcoin will scream ahead at the end as it becomes the only one to get adopted into mainstream finance. Fun times ahead!
Well it did get a little lower than my 4.5K-5.5K low prediction in April 2018 but not a great deal. Today however when I checked the charts I noticed a bottom pattern and sure enough it ticked a little higher even just hours later. I feel farily confident now to say the selling phase is over. We will now see the uptrend take over again, the big momentum however I think will start in Feb/Mar this year and continue into the start of 2020. Still expecting it to reach 100K+ this year or next in a spectacular bubble top. If this next swing up considers with liquidity injections from Central Banks then even 100K may be only the start of the next peak. At some point during this next leg up I also expect the BTC dominance to go ballistic as it finally breaks away from the alt coins. While the alts will likely outperform Bitcoin at the beginning Bitcoin will scream ahead at the end as it becomes the only one to get adopted into mainstream finance. Fun times ahead!
Number 47
Well-Known Member
When I first asked someone what they thought about Bitcoin, I was told about Tulip Mania.
https://en.wikipedia.org/wiki/Tulip_mania
https://en.wikipedia.org/wiki/Tulip_mania
Jason1
Well-Known Member
Tulip Mania is definitely what caused that huge record craziness last year, there was allot of people who lost allot of money, while some made money allot more lost money.
You never hear about those who lost everything On what people call a sure thing, if you believed all those who hype it up, because the hype machine ignores that, aparently no one has ever lost any money on bitcoin even when you see those massive swings. lol.
Its whole principle is worked on Hype, which is what Tulip mania is.
the worst part about this sort of trading is, Its extremely easy for the big players to manipulate.
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shinymetal
Well-Known Member
I agree, but with the wild moves, if you play it right you could easily double your money and get twice as much silver!!
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