Quote from: The Pharmacist on December 07, 2018, 08:52:29 PM

Quote from: Snowflower11 on December 07, 2018, 11:46:39 AM

I used to rely on technical analysis and various information to give a article: bitcoin will return $ 1500.

I've expressed my opinion on TA many times before: I think it's a load of garbage, looking at past price patterns in an attempt to predict the future. It is akin to trying to create a crystal ball to foresee the future, and I'm pretty damn sure that can't be done. Sometimes if momentum (up or down) is very strong, it's easy to make accurate predictions for the short-term, but in general I think TA is a load of voodoo horseshit.

Bitcoin is at $3371 as I write this, and it's anyone's guess whether it'll continue downward or rebound. I have a feeling it'll rebound eventually, but I'd stare blankly at you if you asked me for evidence for this feeling. Bitcoin is very hard to analyze since it's not a stock but a currency and not a widely-adopted one at that. Where the price is going is just guesswork. Some people get it right, but I think most people don't.

As for the $1500 prediction, I don't think we're going to go that low. Possible, yes. But that would be one hell of a drop, and I don't think investor sentiment is negative enough to drive it that low.

I think the lowest price of bitcoin in 2018 would be 3000$ because if we have look on bitcoin graph of previous decade then we see this much crashing of bitcoin after every 4 years. Bitcoin already dropped 78% almost so I dont think it will go to that much low price (1500$).

But the one fact we all should know that bitcoin is unpredictable so we can expect anything from bitcoin.