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RE: BTC about to freak you out one last time this year!

in #bitcoin • 6 years ago

Absolutely agree with this - and as crypto enthusiast I should not be doing this but I sold some of my BTC at $4300 and hope to get back in at lover level as in Christmas and new year not to mention that in China it is 2 weeks later than we have it - I believe that BTC will bottom out only at the end of January. As there is no hype in crypto markets - most people are selling for presents just like you mentioned, most people loosing faith and exiting, stocks are crashing & smart money leaving markets to buy in at lower levels, so as 1800 new BTC worth of about $7.2 million every single day are being mined and entering btc supply. So my predicton is that it could go even lover than 3K I would say it could reach $1500 lows - I know it sounds weird - hovewer it will never go t 0 as I will always buy in no matter how low it goes :)

6 years ago in #bitcoin by
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     6 years ago  

    Nice move, I missed the dip, now it's risky for me (and I also have most of my position in ALTs (which now are on the upwards), but I would suggest you buy in steps, I don't think it will stay low for that long, it will be re-bought in the next day or two by miners, as cost of production is higher than actually buying it from the market (at least if it touches 1800$). I also don't have that much time to actually execute trades, so I'm just leaving them in HODL mode :)

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     6 years ago (edited) 

    That's actually one more problem for bitcoin - it is - that all crypto investors who are currently in crypto knows that if btc grows alts grow much faster 90% of rypto investors know it - so

    • As you remember when last bull run started btc was 90% of all marketcup - no one thinks about it but at the end of day all altcoin prices are tied up to bitcoin and what happens now is that crypto investors don't hold bitcoin - which makes it's price week - but they hold only altcoins - this is another factor which drags btc price down. :) - Just think about it :) I have also financial education so this what I mentioned in my first comment and all other factors which crypto investors don't think about will drag btc price down heavily in this and next month untill btc dominance will again reach 80 to 90% of marketcap and only then bullmarket will start. No one also considers the fact that in previous bull runs and bears there where not close to so many altcoins where to invest as it is now. - Just saying :)
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     6 years ago  

    Mind blown, you are right, it will stay longer, and bitcoin will lose dominance, and they will drop prices, but then satoshi wise, alts will perform better, and then, they'll get back into bitcoin. This time around, alts get stronger while bitcoin gets weaker. But not sure if most of these guys getting into alts actually understand, that if you buy bitcoin low, but then buy alts expensive against satoshi, you're not getting a good deal, so you're not buying low actually, no?

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       6 years ago  

      I will consider buying at the end January I believe that about that time price will bottom out and then when BTC dominance again will reach about 80% I believe we will start moving back up - but not financial advice :)