Quote from: kryptqnick on September 25, 2019, 03:42:24 PM

Quote from: ventelo on September 25, 2019, 12:24:36 PM

I noticed that after the BTC went up in the early of 2018 dropped to $3000 at the end of the year i am afraid that may happen this year and price drop to around $3000
According to technical analysis, the price of BTC will sure drop around $7000 soon.
I understand technical analysis may not work well in this market.
Do you agree with this?

Technical analysis is a beautiful fantasy. It's a prediction which is as good as any other (or, like mjglqw says, and then there's a special value of it but not in terms of predictions) but is covered in a sophisticated convincing form. What makes it different from other ways of predicting the prices, though, is that since many people believe in TA and act according to its predictions as well as share them with other people, it can be a self-fulfilling prophecy. You know, like spreading FUD leads to prices going down, but in a way more serious than that. Anyway, the current price drop is significant, that's true, but it does not mean that we won't see Bitcoin around $10k in a couple of days.

This scenario of high crypto volatility is getting more natural to us that in the longer time, the community will be used to it consequently. I hope some new comers in the crypto scene will not panicked in these kinds of market activity but I'm pretty sure crypto markets will have a good rebound eventually.