Quote from: drays on August 12, 2018, 12:18:04 PM

Quote from: strawbs on August 12, 2018, 12:00:23 PM

There's doesn't need to be "mass panic". That's not a necessary requirement to determine whether the bottom has happened.

Mass panic selloff - despair - indifference - the time of low interest by general public, and active work by the core supporters -- then natural growth from inside, caused by the persistent work of real value creators, such as developers, adopters and promoters.
I believe before BTC can grow again, there should be new achievements to show, and more healthy community caring about fundamentals, not just price.
This is how I see normal way of resolving the consequences of the latest bubble.

I wonder how do you see the possible path? Do you really think BTC is ready for another rally in this situation now? Or you think it can go sideways long enough so new development matures and adoption kicks in?

IMO BTC is headed for another rally, maybe from a lower level (perhaps 5k) which will reach around 7.5k by October and fail. The subsequent fall may get to 4k, but in best case could get to 3k, in which case you could call it 'Mass Panic' , and the low could be 'in'.

The worse case would be another low around 4k followed by a rally to near 6k (by February ??) and a continued fall after that, with another year of bear market from here.

As far as Development and Adoption goes, that will continue whilst price falls, and even better when a more stable low level is reached.. Ironically, there is less proper development in a strong bull phase, because everyone is distracted by easy money.