Quote from: Canis Majoris on April 07, 2018, 02:38:30 PM

Quote from: wuvdoll on April 07, 2018, 04:46:49 AM

Quote from: Canis Majoris on April 02, 2018, 07:36:28 PM

I come to think that we can't fall massively below 5,000 dollars per BTC - if ever - unless some major whale - of the Mt. Gox trustee's scale - decides to cash out. I base my assumption on the premise that people who bought coins at high prices like over $12-$15k won't be selling at prices below some psychological limit because selling at such prices will be pointless and their only viable option will be to continue holding. So it is not just about demand building up, it is also as much about supply running dry at lower prices. That could potentially lead to less volatility, at least temporarily until a new long-term trend gets established.

As far as I am concerned, I feel we are just going to only have the last phase of drop before entering consolidation. Yes, we cannot start assuming for the market, but I do not see that strong hands dropping the market for now. A little bit lower than $6k could be possible, who knows ?

People had been saying essentially the same when the price first reached 12k - after it plunged from an ATH of 20k. It didn't work out very well in the end, though it was a good and sound - if sound is the right term to be used here - dead cat's bounce when the price went as high as 15-16k. It turned out to be the last chance to get out mostly unscathed for those who bought at the peak in December. Then there was a good deal of talk about "consolidation phase" at and around 9-10k, and now we are trading sideways below 7k.

Quote from: wuvdoll on April 07, 2018, 04:46:49 AM

The bears may still want to act on the market, no one also knows, but one thing I know is that the market will definitely recover, and I am sure those who have been holding from the peak of last year already know these facts and really would not care these fluctuations. OP may bring many reasons for this downtrend but I too never care them because I just focus on simply holding my bitcoins for the prices hundred time of current levels.

It will recover in due course but there are many questions as to when it will happen, from what levels exactly, and which coins will recover better than the others and which won't recover at all. It is not just about Bitcoin.

Those who are bitcoin supporters, I dont think so they are worried about any other coin or they are interested in updates about any of the altcoins. They thing is simple, with the increase in the market conditions of bitcoin every altcoin is going to show some improvement.

So this is why people who have even invested into altcoins are concerned about the rise in the prices of bitcoin for estimating their coins value.