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Re: Who can call the correct bottom for BTC's current correction?
This will be interesting to see where BTC's current correction stops. Using Coinbase's data chart, I'm calling the bottom of the correction: $11,400.
Anyone else?
Anyone else?
Man, if that was the bottom, then it hit $10,400. That's wild. I was $1,000 off.
It goes to $22,500 by December 31, 2017 & $100,000 by December 31, 2018.
Also, there will be a major correction, somewhere around $40,000 - $45,000 (nearly 50%) , but it will rally to $100,000 after that.
Also, there will be a major correction, somewhere around $40,000 - $45,000 (nearly 50%) , but it will rally to $100,000 after that.
$200 to $3700 is $3500 increase. If we do a fib retrace of 78.6%, working the math we end up with that $3500 representing 12.4% of the overall expected gain before it corrects. That gives 3500/0.124 => $16300 gain.
$16,300 + starting point of $200 = $16,500
$16,300 + starting point of $200 = $16,500
What's your new top?
This will be a fun thread to look back on by the end of 2018. I want to just log my thoughts here, so that I can come back a year & 2 weeks from now & see this post.
It's definitely possible that BTC could go to $500,000 by the end of 2018. Look at what people were saying at $1k..."I'll eat _______ if BTC goes to $10k by the end of 2017". Now we are at the end & it's nearly double that.
The thing is that only a small portion of the world's money is in BTC right now. As price continues to climb, more people go from "wtf is a bitcoin" or "It's a bubble", to "How do I buy some of that".
If price ends the year at something like $25,000, then that is only 20x for BTC to reach $500,000. I use the word only loosely, because currently in the cryptosphere you can say only 20x & people say "yeah, that's nothing".
It's definitely possible that BTC could go to $500,000 by the end of 2018. Look at what people were saying at $1k..."I'll eat _______ if BTC goes to $10k by the end of 2017". Now we are at the end & it's nearly double that.
The thing is that only a small portion of the world's money is in BTC right now. As price continues to climb, more people go from "wtf is a bitcoin" or "It's a bubble", to "How do I buy some of that".
If price ends the year at something like $25,000, then that is only 20x for BTC to reach $500,000. I use the word only loosely, because currently in the cryptosphere you can say only 20x & people say "yeah, that's nothing".
Who will buy a million dollar worth of coin that has no physical attribute?
Who buys millions of stock shares online that have no physical attribute? Who owns millions of digital fiat notes that have no physical attribute?
Like, everyone.
Well, said. Most things are digits anyway. That's like saying who would have $1M in a bank account, stock brokerage account, mutual funds, ETFs, bonds, etc. These people never get anything physical, just digits in their account.
How is this any different than bitcoin?
I don't know whether it can reach 22K level but mostly it may reach around 20K mark. Now it looks like Bitcoin is under correction and once that is done then we may see any 10% to 15% increase in price means around 20k mark. Last a few months already Bitcoin run up a lot and now it may take some time before next big run-up.
Yes, but $22k seems not likely in 2 weeks, but just last month, an $17k high by year end seemed not likely to us.
Also, I thought it was under correction when it went to $11.5k & then back to 9k, but that only lasted for a day & then it just Energizer Bunny'd on me.
Ok, so there is a new year coming up soon, but let's speculate of where Bitcoin will finish the year. So, I say the best way to do this is to put your high of the day & low of the day price for Bitcoin on December 31. Also, if you're a bull, then you can just put the high & if you're a bear, then you can just put the low. But just as an example, I will put both.
We will use UTC for the official end of 2017.
Here is my pick for December 31, 2017
High of the Day: $22,750
Low of the Day: $21,250
We will use UTC for the official end of 2017.
Here is my pick for December 31, 2017
High of the Day: $22,750
Low of the Day: $21,250
Increasing forever is not the right term I guess.
How about increase longer than our lifetime?
People saying it can't go there, sound like the people who were calling this a bubble back at $2k. Now, most people can't even imagine a crash to $2k. I'm not saying it will go there, but the way that it has made gains is proof that it can do more than we think it can.
So imagine the market was trying to correct right now. However, wall street is holding the price here, people "selling the top" are unloading coins into wall street hands.
All the while they are scooping up futures contracts cheap for the 18-20k range.
As the futures come due, wall street intensifies buying, all the sellers FOMO back in, price is pushed way up over the futures contract prices.
Wall street ends up with stacks of coins they got for cheap, and stacks of dollars from futures profits!
(Cool story bro')
All the while they are scooping up futures contracts cheap for the 18-20k range.
As the futures come due, wall street intensifies buying, all the sellers FOMO back in, price is pushed way up over the futures contract prices.
Wall street ends up with stacks of coins they got for cheap, and stacks of dollars from futures profits!
(Cool story bro')
Yes, I could see this. A run up to $20k+, load up on short contracts, then smash the price to something like $12k in 2 - 3 days...cover shorts, go long for rally. Rinse, wash, repeat.
However, there is one slight issue here. People have been calling a top since $201 (after it left $200), and here we are at $16500. LOL
I can recommend you try with ethereum now. Its price grow very fast and high so if you want earn some coins for your investments on 2018 you can buy few eth and wait when its price achieve 1000 dollars. It will be easy
+ 1 on this. ETH is in the middle of a run currently. If it has the sort of run that LTC just had, then watch out... You can park your money in ETH & then buy your alt coins with your appreciated ETH once you're ready to "sell".