Quote from: fabiorem on December 05, 2019, 05:21:18 PM

Quote from: Naficopa on December 05, 2019, 05:02:05 PM

Quote from: fabiorem on December 05, 2019, 04:21:23 PM

Yes. Like I posted two days ago, we are going back to 3k levels.
Earlier on I believed the price would never return there, but after several weeks of lower highs, its evident the price will dump to that level again.

Actually I believe the manipulators who are dumping bitcoin want the price to go to $1000. They didnt succeed the last time, so they will try it again.

Right now, it's not just about manipulators and whales. At this point, a lot depends on how the miners behave. If miners decide to sell BTC stocks (and among them there are certainly a few whales) this can cause big drops which will be a great time for price manipulators to lower the price even more. It looks like we might have one more big dump before halving.

They will have to sell, to pay mining costs.
The exchanges are to blame for this. If they had a consensus in putting limits to the price, such dumps would not happen.

The worst it can happen now its governments stepping in to stop the manipulation, and putting several regulations which would cripple the market even more. People love to go to extremes, so its wild west on one side, and a statist dystopia on the other.

By the looks of it, we will have a replay of the "despair" phase on the classical cycle chart, where the "takeoff" phase was the 3k in August 2017. This will confirm the theory of the four-year cycle is not valid at all, and each cycle would need to be stretched.

I also think that this period will extend. I think the 2020 period will be something like "no mans land" and proper price increases will not start until 2021.