Post
Topic
Board Speculation
Merits 2 from 2 users
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
bitserve
on 04/10/2018, 09:47:11 UTC
⭐ Merited by El duderino_ (1) ,JayJuanGee (1)


JJG, I am obviously hoping for a scenario a bit more like 2013, with an april top followed by new ath later in the year. I doubt this will happen in the short term, invalidating that pattern. In any case, dont think looking at the past is too relevant here. I dont really agree with your wording of ‘correction’, its ok to say btc has crashed since ath, a 70% drop is just that, a crash. Especially since it is accompanied by the  complete bloodbath that is the alt-markets.
One scenario where bitcoin could go lower (and take alts with them) is if miners make a play to push price down to bankrupt less efficient miners, allowing them higher market share in the future as inefficient mining ventures go broke.
Still, I hope 6k is the bottom (but then we saw the bottom 6 months ago, only 3 months after ath! 🤔 )

Who are you and what have you done to our friend??