Hi @swissclive, this is a really bad news for all cryptos and it follow the bad news coming from korea.. do you still think that bitcoin could hit $100k within the end of the year as you told in your latest posts or we need to review our analysis?
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Please don’t take anything I write as investment advice, as in crypto anything can happen. As some investors may remember I developed a table at the start of 2017 which used movements of coins on the blockchain to predict possible future prices. There were a number of variables which went into the formula, so as I stated, it was just “guesswork” based on certain parameters over time. I first published the projection on steemit in mid-2017 because the formula seemed to be working and the bitcoin price had surpassed $2000 which most people thought to be unlikely at the start of 2017.
The formula foresaw a possible price of $10’000 by the end of 2017 and $12’900 by the end of this month. Whilst there was a strong deviation away from the expected price in miid-december as bitcoin looked like it was heading to $20k it has since come back in line with what is expected by the formula. According to the formula re-published mid August, the price by today 17/1/2018 should have reached $11’550. Guess what. The price now is $11’150, so I would not call that “wrong”.
Here is the article I published and the table it contained:
https://steemit.com/bitcoin/@swissclive/bitcoin-price-could-be-usd98-630-94-by-end-of-september-2018
As you can see, if the assuptions I made continue to hold true, $100k is possible this year.
Yes my friend, everybody is responsible for their own investment. Confront each other is important and that's one way to find it.
So according to your table, today price is just average and the "wrong" price was the strong deviation in december price. The logic works..
Thanks for your answer.
Correct, and the peaks and troughs forming above this growth line are pump and dumps. The steady line still runs smoothly along at the trough point mostly [making it clearer that the volatility is mostly pump and dump, I think].
I suspect Bitcoin will rally again, whatever happens. It has great brand strength.