Quote from: gabmen on December 15, 2018, 01:07:58 PM

Quote from: South Park on December 02, 2018, 04:34:26 PM

Quote from: pakhitheboss on November 27, 2018, 06:10:22 PM

I think it should.

As per CMC the total Market cap is only $121 billion. If the price of Bitcoin hits $3000, then the market cap approx will be $100 billion. I may be wrong in the calculation, but it will be less to what it is now. Which means most of the short term investors and panic sellers have left the market. Those who are left are either long term holders and big whales.
The only option left for these whales is to pump the price at $3000 level.

What do you think? will stop at $3000 level or will it go further down

We did not touch that price but I agree with your overall analysis, at some point the drop has to stop since panic sellers will no longer be in the market but the issue with such a big drop is that it creates more panic sellers as people get afraid of losing even more money with cryptocurrencies than what they have lost already but fortunately it seems that process has stopped already.

Lol. People still in the market right now have pretty much lost most of their investments. I think a lot have that all or nothing mentality already and would just opt to see where this goes. I think it's close to bottoming out now whether we bounce from 3k or go below it.

We will go through a phase like this, we all know that Bitcoin is still something that is in great demand by many people. The benefits and functions that Bitcoin has have an extraordinary appeal. The price of Bitcoin is currently in a bad situation, but I'm sure this will only happen in a few moments. There will be an increase and we are all convinced that we can become the rise of Bitcoin in the future. Let us together to support Bitcoin, increase the use of Bitcoin and we will get the benefits if we dare to invest at this time when the price of Bitcoin is in a cheap range.