LOG Scale is my tool
While watching BTC now testing it's 6K supports, I hear many excited voices around.
Is this the END? Will it never turn back?
I watch all this craze while staying very calm, and without any worries.
Because my main tool shows me - there is nothing at all to worry about.
MY tool is - total marketcap graph in LOGARITHMIC (LOG) scale
It shows me that all the perfectly normal, we have left the serious over-buy area in DEC-JAN, and things are back to normal now.
The trend in LOG scale clearly remains UNBROKEN, and it helps me to understand where we been, where we are, and where we are heading too.
I certainly remember well much worse days, much worse. And not only once, since I'm in cryptos. I am here since 2012.
Would I worry, if it drops much more? Probably.
If BTC goes back to $100-$200, then yes, there would be some reasons to worry.
But what I would do then finally ?
@cryptoburner what do u think , how much time btc will take to get stable?
STABILITY?
It has been long time ago since I made my answer to the question "when BTC gets more stable?" It depends on the market size ( Cap)
The whole crypto market is yet SO TINY today, in the global terms.
Once it will grow x10 times from today - it will become 10x time more stable.
And when it reaches 100x times from today - we will see the prices 100x times more stable.
As simple as that !
well said. same change on larger base gives less percentage change.
Sorry if this is an unwanted opinion. I feel that BTC and the rest of the crypto market will be back on track by Q3 of 2018. You can consider a number of unknown factors for these recent dips, including the few hacks that did occur to the big exchanges and people trying to sell off those coins. Hopefully BTC having tested the 5,000$ range and hitting the bottom at only 5,755$(Bitfinex markets) will give the push the bulls need. If today closes above 6,400$ I have a strong feeling it will follow to 7,000$ in a matter of days.
Not that I strongly believe this will be the scenario, but all you said @hunny100dev is quite possible too!
I don't think it ever will tbh.. Bitcoin was great, but I think the DPOS systems are more likely to blow up because they can scale without any 2nd layer. If you want stability or a hedge against the occasional crypto dips I'd check out Quintric. They're a gold-backed crypto backed by Stan Larimer doing some really cool things with accountability and tax benefits. They use Bitshares, have a livestream of the vault, and are considered legal tender under the law (no capital gains). Really cool. The Larimers have a reputation for making great technology, but maybe I'm biased. I think it's pretty self-evident though at this point.
@cryptoburner everyone has own analysis on todays crypto situation but bitcoin is future & he almost achieve its bottom. according to my analysis, it will boom from 2nd week of july. you done your research i do my research. if you like my opining please vote & Comment
I do not care much if it BOOM's in JULY or in 2019. I am here for long time. 1-2 years is just NOTHING!
That does seem to be a realistic estimate in my opinion. My predictions I wrote were very similar.
@cryptoburner
Hai do you think we should wait for more dip or wait for bounce sustain above $6000 -6500 level.
If I would yet had $0,00 in crypto, I would probably had divided all my funds dedicated to cryptos in 10 parts, then spend 1 part right now, set 4 buy orders below 6K, spread in ~ almost egual distances (every next lower may be 2x bigger then the previous), and other 5 buy orders at certain critical prices above $6K. Thus may GIVE the lowest risk entry, while agreed to be happy with not the absolute maximum possible gains and profits.
Something like this, if you decided you can spent maximum 10K :
TOTAL dedicated: $10,000
( it is only an example for visibility what i mean, not a precize recomendation)
In case it drops to $2499, you will already have $6000 worth of BTC, so then you can easily CANCEL all the left 5 orders in the 7-11K range, and just enjoy the growth and profits
Lols . Don't poke it so much it will shoot to moon :P
I guess so. Or maybe it explode lol
Let it explode, LET IT EXPLODE !
Watch out!
@moneyguruu hopefully will c it soon!!!!
Interesting. So, this math really works in crypto like the way it in stock market. Right?
I do not know. But I believe most of the times to apply the old rules from FIAT world to anything in in CRYPTO world is NOT the best way. I always try to avoid this. Cryptos is yet to small to be rational and predictable.
Better yet - I'm trying to understand all the fundamentals, and where it is bringing this planet
Even if the prices drop some more, I would imagine actual mining costs for BTC will start to come into play pretty soon...
Soon? I'm not sure.
But if it drops below $3000, then it may happen
@cryptoburner According to my analysis bearish mode of market can not longer due to FIFA Worldcup. bitcoin should in range of 5200$ to 6800$ till 15th july. After that we can see spike in cryptomarket also it is supported by solving legal issue in India. What is your view on this analysis?
What is your Prediction and According to your knowledge what will be the price of BTC at the End of 2018??
I completely agree! The more it dips, the more I buy. I love when everyone else is panicking. Will it backfire on me in the end? Possibly, but I highly doubt it!
This really is the best time to invest!
exactly what i think. every crypto investors should follow this chart.because for now it is a volatile market but in future there will be more stability when big institutional investors will come in. john mcafee predicted that btc will reach 1 million usd till 2020. but i think 100k or even 250k is possible. so do not worry invest in cryptos with proper securities in long term . i usually invest 25% of my salary for crypto investment every month. this log scale clearly show we are on the track....only thing we need is patience..thank you guys
Please never expect that bitcoin will ever reach to 100 or 200. Its got huge power and certainly it has changed many lifes. What made you think that bitcoin will ever dumped this much ? However you have written really nice post
@cryptocurrency ..do you think that this is right time to buy bitcoin ?
can you tell me your preductin about it?
reply me please..,,.
Pleased look above into my reply to @sachinmehta.
I think that can be one of the safe plans for the next year
I do NOT feel however that I have the power to predict anything precizelly in cryptos , at least not for short time period.
What I am quite confident in - people will remember $6K BTC prices in 2020 just like we do now about BTC prices in 2011.
So many people I was telling in 2011-2012 "hey, BUY BTC", buy at least 10 or 50, if you are afraid to risk more.
They were only laughing at me !
I'm a crypto dip, and I'm very calm...
thanks for this information ,,so cool
I love that log scale. It got my expectations up. Beautiful curve.
I completely agree with you! That log scale got my expectations up also!
I love that log scale.
It got my expectations
Up. Beautiful curve.
- feelsomoon
I'm a bot. I detect haiku.
Crypto, not for the fainthearted!!
You are so damn RIGHT !
Gentlemen, I think this is the best one you will see this year.
Those who can remmeber the tough days of 20 month long BEAR market (in 2014-2015) - do not panic at all.
Another 20 month?
HARDLY SO ! But we ARE READY !
Long term investors don't have to worry
yep, @alan369, I can't agree more
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nice post
can you explain more about tool ?
and its works everytime ?
are you sure about that ?
I really liked your log graph. I am calm too in regards to Bitcoin's current price. I have written enough price estimates and reviews to be confident that Bitcoin's cost will continue to rise by this time next year.
@cryptoburner Bitcoin is the future mate. People claiming bitcoin being a bubble will soon rush into bitcoin once the price of btc shoots up. Am i right??
Nice chart, based on my long-term wave count for BTC, I expect we some further downward movement is still in store.
Thanks for providing a reasonable perspective during a time of uncertainty. I think it always depends on how you look at the market. These tips also provide us the great opportunity to get into great projects that we may have missed.
@crptoburner: i thing it will be in bullsih behavior just like past 3-4 yrs in Q4 of 2018!!!
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Great blog @cryptoburner
Congrats
While you're sitting with cold blood ... as normal everyone should stay and watch the crypto market ... feel free and enjoy some of my compositions :-)
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