Quote from: fabiorem on March 16, 2020, 12:59:40 PM

Quote from: rayhanazad on March 14, 2020, 05:49:33 PM

Quote from: fabiorem on March 13, 2020, 09:06:48 PM

Below $3k is as hard to manipulate as above $12k. The $3k mark is the price from 1st August 2017, a historic date for bitcoin, which was when BCH had forked from it. Below $3k is the area from the other bear market, the one from 2013, and the consequent recovery and bull-run.

Those who bought above $3k will likely not sell below it, as it is too cheap.
Those who bought below $3k but didnt suffer the 2013 bear market will also not sell it, as they probably experimented the 2017 bubble and consequent crash.
Those who bought below $3k and did suffer the 2013 bear market have already sold if they wanted to. They are early adopters and if they weren't in DCA the prices from 2018 and 2019 would look high to them.

So its hard to bring the price below $3k. I read that 60 billion dollars were withdrawn from the bitcoin markets in the recent manipulation. The bearwhales will make much less if they dump it to three digits, and might not work after all.

I saw the price touching the $3000s last night, and only lasted a few minutes. People will flock to buy in.

all of your point are true but if economy get worse there's no garrenty price won't fall below 3k. let's all hope btc won't fall anymore since huge amount cash already withdrawn.

Scrap it. When I wrote it I still was using some reasoning.
But there is no reasoning when there is a derivatives casino operating against bitcoin.
Now that the source has been identified, its much more easy to do a prediction.

We are going to zero in less than a month.
Right now its pointing to sub-$1000.

But there is no buy liquidity in that area, people who buy will have difficulty to sell.
So it will take two or three weeks to reach the two-digit area, and then its zero.

FEAR!!!

That means it's time to BUY Wink