Post
Topic
Board Speculation
Re: Hat Observer BTC/USD - Bitcoin price movement tracking & discussion
by
JayJuanGee
on 18/12/2018, 21:00:39 UTC
So Bitcoin rises by ~2% after falling ~84% and somehow everyone thinks that this bear market is over?

(0.02 * 19,666)= ~$400 + 3122= ~3500.



I also believe that the next intermediary top will be around 23-25 of December. Good chart.

It’s ok the bear market is over


How could the bear market be over?  We just confirmed (when BTC decisively broke below $6k) that we are actually in a bear market.  Before that time, we had merely confirmed that we were in the middle of a price correction.

So currently, it seems to get back above $6k, assuming that BTC prices rebound, the better case scenario is 3 months and the worse case scenario is in the 2 year arena.  Most of us here would likely prefer going up sooner rather than later, and I suppose that some benefits regarding a longer and more drawn out recovery would be that the BTC price would be on more solid grounds for the next hopefully happening upwards price surge at some point after the halvening.

TLDR: I am not proclaiming to know anything more than anyone else, yet my point is that your proclamation that the bear market is "over" seems way too premature, especially given recent price happenings, including breaking below $6k without any significant rebound.