What stops BTC to have a correction like it had before (from 2300 to 200) once it hits 10k?

Yeah shure thing
It's not like we had similar parabolic growth and major correction.
And keep in mind that today we have plenty of alts what are superior to btc in every way

basically everyone who wouldve sold at 10k already sold at 2-6k. The rest of the holders now are diehard holders and not giving them up ever

>bitcoin hype already attracted all potential buyers
>sell pressure starts to run on fumes
>price starts bleeding as an effect
>weakest holders start panic selling causing flash crashes
>domino effect
>smart people buy the fucking dup
>cycle repeats again

Would it be smart to move BTC to ETH once it almost hits 10k or should I directly put it in tether?

Previous readjustments had relatively fewer investors; a relatively higher proportion of whom were in pure and significant profit. Cashing out was the smart move for many early adopters sat on massive pools of BTC.

And Q4 2013 - Q2 2015 had the silk road takedown, Box, and the FBI auction. Three massive stress tests that BTC survived.

These are things that newcomers don't know about, Which is why they get so easily frightened by funny little market scares.

>smart people buy the fucking dup
Not this time. If it dips below ETH in mcap, or worse, below BCH in mcap, it's never recovering.

I think he means the ~1100 Mt Gox Peak down to the ~240 in early/mid 2015.

If you're going to do TA like that then at least look up the rules of it, it's not just magic lines there's supposed to be well defined angles and lengths between those points. What you made is just irrelevant, particularly since the market has gone fully parabolic

>What stops BTC to have a correction
nothing
10k is round number, 10k is 5 digit number, 10k is 10x from january and it will be is exactly year from that and people love some closure at the end of the year
it is perfect combo to take profit for a lot of people
muh "institutional money" knows it
cme futures buyers know it
and margin traders who pumped the price know it
all of them will just follow the trend and short it to the ground

>short it to the ground
I shorted the rest of the cake too. Welcome to the real world, JACKASS!

I want reddit to leave.

don't think so, at this point bitcoin is basically the backbone of the whole crypto space. a switch would most likely be accompanied by a really nasty bear market.

>a switch would most likely be accompanied by a really nasty bear market.

nothing wrong with that

>"WAAAAAAAAAAAAAAAAAAA MUH REBBIT"

Insightful graph wow so accurate

How do I short BTC/USD/Global currencies using Crypto. Do I buy up heaps of Monero and Eth and Hedge against the former? I would like some opinions here.

Although I also own BCH, I do not think that is the answer I am looking, BCH, in my opinion is only a half ass answer to my question and I think will face more or less the same issues in the future...

Side Note: I think the USA has about 5 more years left until you see some fucked shit. 10 at the most, really that's pushing it.

Because numerous alt coins have a fiat pairing now, they will take a part of the heat through arbitrage

yeah...if you're smart enough to cash out part of your profit at some point to buy when there's "blood in the streets", but i'm not smart.

Make an account on Bitmex
Send your BTC there
Short BTC
Get short squeezed.
Lose Everything
>shoulda just hodled

The thing is (I was there man in the shit breathing the fumes of the MT Gox eruption) the run up and the peak was only 30 days.
The fall took over a year to fall to its lows
If BTC peaks it will fall fast then come up fast then take forever to really fall.
We will all see it and be able to get out with plenty of time to spare

Also the current run up has been over YEAR long.
Leads me to believe its fall, which i am unconvinced it will happen as BTC has gone mainstream, if it mirrors the last "big" one will take forever to hit bottom.

Another thing OP is not remembering is after MT Gox a lot of bad news hit BTC over and over and over again.
Silk road came down
China outlawed it
Russia outlawed it
NY DA put up a shit load of idiotic rules against it
Cryptsy died took everyones money
a few others died as well.
FBI auctioned a ton of confiscated BTC from Silk Road
Which sent everyone scared it would flood the market.
More shit i can't even remember
Just bad news that never ended.
Today's BTC has seemingly gotten anti-fragile on bad news.

Tether

You mean China "outlawed" it. Several times.

I used to own BTC, but have since sold it to go overseas travelling, also buy other crypto and shitcoins, and also cashed some out to pay for things I want.

A large majority of my money is in crypto and I have made more than if I just held my BTC coins straight up without trading so I dont think of BTC as a big deal. DESU there is more money to be made in other coins.

With all that said I dont want to hold BTC and short using leverage as you suggested. I would rather buy the coins I think will replace BTC early at a low price, and when BTC falls these will go up.

I think BTC has about 1 year left, with maybe 2 years. I want to short it now by buying other coins cheaply.

China sure has!!
But that first one hit really hard
China after MT Gox relative to the rest of the market was YUGE
and when the news hit China trades tanked and took the rest of the market with it.

Usually when China bans something, it means they want to make their own version and have complete control over it.

>The fall took over a year to fall to its lows
>We will all see it and be able to get out with plenty of time to spare

it always look so easy in hindsight, but what will actually happen:

>ah, btc flash crashed to $7k, oh well, it will go back up soon
>....why isn't it going back up, it always does!!
>guess the bulls are just exhausted
>shit it's $6k now, iron hands!!
>fuck $5k now, this is the bottom, i can feel it! not going to miss the moon to $20k!

>Usually when China bans something, it means they want to make their own version and have complete control over it.
This guy gets it.

Well they first "banned" back in 2014
What the fuck is taking them so long?

The west shits out cryptos like NiggerCoin seemingly instantaneously.

What are you talking. The china ban was FUD and ross going to the house happened before. Kids these days, always talking out of their ass

nightmare scenario

Actually, the more probably scenario would be that China wanted to stop capital flight.

There are strict laws preventing fiat being taken out of the country, and a very low limit.

BTC effectively undermines that so they would want to erect barriers to prevent it.