Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
It will be either:
1 - FOMO re-engages, it goes parabolic, then it dumps and we see another protracted bear market. Some people make a mint, more castles are bought, most lose a shit-ton of money and it results in more damage to trust in BTC and crypto as a whole.
2 - This is "Return to Normal", rally loses steam, more dumps but less risk of a long term bear market and much less damage overall.
1 - FOMO re-engages, it goes parabolic, then it dumps and we see another protracted bear market. Some people make a mint, more castles are bought, most lose a shit-ton of money and it results in more damage to trust in BTC and crypto as a whole.
2 - This is "Return to Normal", rally loses steam, more dumps but less risk of a long term bear market and much less damage overall.
I'm also voting for option 2. The target is 2400-2500 USD on Bitstamp. Only if there are really bullish fundamental news (resolution of the blocksize war, for example) I see a breakout over 2700.
My prediction I made some days ago (e.g. here) has until now be pretty good:
- first stop of the downmove (after the second 2300-2400 bounce): $2000 (it was $2001)
- a little rise to $2200-2500 (ok, it was only 2160 but not too bad)
- dump down to $1800 (1850 held)
- "the real dead cat" going up to $2500 - that's what we're seing now.
So - enjoy the ride but be careful - especially if playing with altcoins
