After BTC Price entered Death Cross a few days ago, People are in a race to guess where the bottom of BTC might be!
I will be waiting to buy until seeing the price 12K !
First of all, Are we sure in a bear market? If you say no, You dont need read this post, I need to search for 100x crypto now...
What are the reasons of price prediction for 12K?
1- Death Cross ☠️
A few days ago, 50-day average crossed down to 200-day average in BTC chart!
Here is chart you can see death crosh which comes after ATH!
What happened death cross after seeing ATH in 2017?
Death Cross lasted for 13 months! After death cross in April 2017, Price went up to 200 day-average (fake pump) and dumped during months...
So I will wait for at least 10 months...
2- Trend Based Fib Extension ❗️
While everyone was hoping 38K would be the dip for BTC, I was ready to see price 30K.
Here is Trend based fib extension coming from 64K.
It shows the target!
3- Support Levels ❗️
These are the supoort levels of BTC. Lots of people think that 18K is the dip for BTC.
I don't have the same opinion. I think the price will drop to 12K in one night operation when people buy big amount of BTC at 18K.
Does this operation sound familiar to you?
4- Bitcoin Mining Cost ❗️
In summary, it currently costs between $7,000-$11,000 USD to mine a bitcoin. The lifetime cost of an ASIC miner to mine one bitcoin is on average $15,000-$19,000 USD. As the price of BTC is $56,000, it remains very profitable to mine bitcoin. Although, the entry price for miners has risen considerably the past few months because hardware prices have doubled.
How Much Does it Cost to Mine a Bitcoin? Update May 2021
5- Last Top Before ATH May Be Next Dip ❗️
Here is 2017 chart. Last top before rally going to ATH, became next dip for price.
Here is 2021.
Summary
Here is my scenario explained above...
Posted Using LeoFinance Beta
In one of your other articles you say waiting till august to buy hive but you expect btc to drop to 12k by end this year beginning next year. that makes no sense to me. so you think hive makes new ath while btc crashes to 12k? Impossible.
yes it is short-time trade...
As you see RSI chart of BTC, down trend will break in August-September...
So You can make profit by trading...
This post is about long term strategy...
When BTC hits 12K hive may hit ATL.
Not Impossible Bitcoin Again Pump and fly 40,000 $
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Yes possible. It will be fake pump. Follow 200day average. Price will not break it.
Oh! This is quite scary! When?!
at the and of the year maybe next year...
Lol those are hardly reasons! At least give me something tangible like China fud, not this word salad
Why does the 2017 bull market has to replicate the 2013 one?
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Because bull markets are bubble. The only one truth is halving...
I mean, you dont know what size is bubble before you pump,
but you know what size is bubble after burst
Nice perspective. Pretty much possible IMO.
Also, check out the 200 MA on the weekly. It can form some support. It usually retests during a bear market (Currently around the 16-17k ish region).
But it can take quite some time,
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Here is one more reason to add to your list. I heard that the Greyscale Bitcoins will become unlocked soon. I have not verified this yet, just heard it on a chat blog last night. To the Seafloor!!
I didnt know what you said. Maybe it will effect price to drop 12K!
Thank you for your information...
Here is a link to what I was talking about, I just looked it up. I don't think 16,000 BTC is enough to really worry too much, but might cause more panic if it catches noobs off guard.
https://www.investing.com/news/cryptocurrency-news/16k-btc-will-be-unlocked-on-grayscale-is-there-a-reason-to-worry-2540167