Post
Topic
Board Speculation
Re: Serious bitcoin price discussion. Bears only please. How far will it drop?
by
Tzupy
on 12/12/2013, 22:25:09 UTC
Some uber-bulls chose to ignore the 'bears only' title, again. This time it was followed by a 'please'. What does it take to keep uber-bulls out of a thread?

If the current market is going to follow EW patterns, then the very bottom has to be no higher than 495$ (Gox price).
That's because corrective wave C has to be at least as large (% wise IMO) as corrective wave A.
If the market will behave like in April, then the very bottom could be in the 250$ - 300$ range.
But the bottom depends heavily on how many coins will be panic sold when most of the market understands that it's a bear market.
And that's impossible to predict IMO, could be 50K more or 150K more, with hugely different outcomes.