Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
In all honesty, even though I already put in my guess, I predict the next ATH will not be until 2020 
I fear another 2 year bitcoin hibernation period before much more amazing prices. We have lived through that 4 year cycle a few times already, I have little doubt it won't happen again.
I'm still holding though. But this time I will not have a job when it hits the 2 year low to buy all of those cheap coins.
I fear another 2 year bitcoin hibernation period before much more amazing prices. We have lived through that 4 year cycle a few times already, I have little doubt it won't happen again.
I'm still holding though. But this time I will not have a job when it hits the 2 year low to buy all of those cheap coins.
I'm surprised. Normally you are a permabull in just about every situation, and suddenly you had a change of heart. Weird, and unexpected, as I didn't expect you to even think of the option BTC could go the opposite way.
My opinion of you has really changed for the better now.
But why the sudden change of heart?
It is way too fucking early to be calling a bear market, merely based on cycles and random expectations. Furthermore, there continues to be a lot of money and attention coming into the cryptospace which affects bitcoin, including whether the curve has been steep enough in the last price run up in order to justify to transitioning to a bear market. Sure, it is possible that we have transitioned into a bitcoin bear market or that we are transitioning into such a bear market, but usually we are not going to know until we get below a certain price point, which probably would need to go below and stay below $2500 for a period of time... surely, it is possible that Elwar is referring to some kind of extended price correction of a few months rather than referring to an actual bear market that might last longer than a year and approaching two years or more.
Sure prepare yourselves for up or down or sideways, yet I still place the odds of up to be greater than the odds of down, especially if we are considering between now and early 2018 - in other words, we are probably more likely to have another ATH before March 2018 - and decent odds of much sooner (before the end of this calendar year) rather than changing our current upwards trend.
My gosh, we experience about a 90% price increase from $2600 to $4980 in less than a month and then a 40% correction in the following 2 weeks - and all of a sudden the bull market is over? Get a grip, supposedly former bulls!!!! Zoom out a bit. Put this matter in perspective.