Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
hnbdgr
on 10/12/2019, 13:22:28 UTC

Also I am still fearful that so much expectation from so many people about the halving could not result in the expected outcome and when I see "predictions" for the next 2-5 years like $50K, $100K and over I get nervous. Well, we will see. Whatever it has to be, just let it be. I will just HODL (and try to sell *some* when the time price comes).

I remember the period before the halving in 2016, and I can assure you there were just as many predictions (on a per capita basis, bitcoin community was much smaller then with little mainstream pickup) about how the price was going to boom. The only difference this time is that they are putting lofty price targets along with the prediction. It seems that the only reason why these price predictions are happening this time is because of the very popular stock to flow analysis by PlanB.

I am not fearful at all, and anyone who has an understanding about supply constricted markets shouldn't be fearful either.
I think that bitserve is reffering to those investors who have too high expectations based on these predictions. These may turn out to be weak hands when the next halving occurs and the price is not what they expected. Often when everyone awaits something to happen in certain time interval, it doesn't happen. The market mood is somehow represented by long/short positions. Currently, there are too many long positions and the price is constantly plummeting instead of rising. In other words, we can't accept as granted that in 2020 or 2021 we will see prices $50K+. Or, we may see it, but only briefly like the 20K in Dec. 2017 which lasted only hours. Let's hope for the best in the next 5 years, but be prepared for the worst as well.