Quote from: naidray on July 10, 2018, 08:10:31 AM

Quote from: Reatim on July 08, 2018, 06:59:46 PM

I know that everyone is very bullish about bitcoin. However, its really hard to say if we are going to cross $20K because we have been struggling since the beginning of the year and price fall from $19K to $6K.

What we should do is just continue to monitor the price. Currently the price this week has been steady at around $6500++, which indicates that investors are not panic selling and more and holding right now and this is not a dead cat bounce as others might have speculate. If you crossed $7K then it might be a start of break out run. So conservative estimates would be around $10K-$15K. If we got to a new all-time-high then it will be a big bonus.

Now is not even the time to be bullish yet about bitcoin as I believe we still have some pretty downtrend level to face in upcoming days, and before we can even start considering any serious bullish momentum of reaching the previous ATH, we must have hit the solid bottom, where the bulls would have taken over.

We may start seeing another level of FOMO in the market afterwards. So, I would rather be conservative in the short term or rather this year than to be expecting any big bonus.

Maybe you are right, but I think that you will not find such a golden chance in the future to buy bitcoin. Just one bump needed and you will the price. Now people are coming back to bitcoin and the lost value of bitcoin is building again. With huge ratio of investment the price will also grow more and those who bear this worst situation will be happy with their holdings.