The million dollar question right now: are we recovering, or are we trapping bulls? Who the fuck knows...

I'm hoping that it is recovering and we see some gains to 25k. I have a feeling it is a bulltrap though. Not many people are excited about bitcoin now, and it's a broken crypto. ETH on the other hand, recovering to the moon (2-3k by Feb)

Thanks for setting up the poll, should have done that myself.

People will of course be incetivised to vote for 'recovery', all everybody wants right now is for things to calm the fuck down. Panic and FUD is going to cost everybody money.

We just had a bear trap from 14.5k to 12.5k. Now it's back at 14k. If it gets to 15k and stays above then we are back to a bull market after a healthy correction.

I agree with you on ETH - I think this is the market move that will initiate its overtake of BTC. Everybody who just tried to cash out BTC saw for themselves how slow, clunky, and expensive it is, especially during a panic sell where the blockchain is congested. The rose-tinted glasses for BTC are wearing off, and although I see it recovering, I think ETH will overtake it in our next bullrun.

This, I think if we see just some steady, horizontal movement in BTC, everyone will calm down. The rise from 10/11k to 13k honestly looks a bit scary, very easy to interpret as a bulltrap or dead cat bounce. Just some steady, easygoing stability in BTC is what we need right now

I think a lot of this was a spike in normies buying in, then panic selling when they saw things take a dip. Big money's still in the game, or it would've taken an even more massive dump than it did. I think all this did was shake off the normies.

Yes, I agree with this. The most recent BTC pump was just a huge influx of FOMO normies, the correction back down to ~$13k seems about reasonable to me. I think the smart money has their buy orders in at anything under $13k, judging by the strong support BTC has at this level

bitcoin's over fag, it's a chicken running around with its head cut off. there are better products.

...

Idk, but one thing I do know is that Bitcoin will fall. The fees and speed are absolutely dissapointing

shaking the normies isn't necessarily a good thing

That's the crux of a bubble isn't it? When people realize there is a shortage of demand. Don't forget there was a huge number of people jumping into coinbase just a week ago. Many of them just got burnt.

basically, looks like a game of chicken until 15500/usd btc.

who knows what happens when that passes. The market definitely looks primed for another bounce or just a fall.

Anything could happen right now. All you have is speculations currently.

I think litecoin is going to surpass bitcoin. Think about it. LTC follows BTC price in lockstep. Faster and cheaper than BTC to transfer between exchanges. It's basically BTC 2.0 lite

Broke a trend line and the selling accelerated but dip buyers came in near 10k pushing price back up near the trend line. It was not enough though. Momentum is dead. If buyers can't get it back above 14829.75 and stay above it it will be on it's way to test 10k again dropping to test ~8k if it fails to hold. Breaking back above the trend line would be impressive showing from buyers and would put 20k back on the table.

Looking at the price action of the previous two major dips BTC had. They traded down slowly until the last couple of candles where the majority of the selling occurred it then hit support, bounced off of it, and the trend resumed. This time it went straight down which indicates how little buying interest there is at those levels.

If I had to guess we'll see it dip again to test ~8k.

>shaking the normies isn't necessarily a good thing
This is correct. However, the point is, I feel like those still in the game right now are more likely to be wanting to buy the dip than they are to panic sell.
>That's the crux of a bubble isn't it? When people realize there is a shortage of demand
This is a good point. I would agree that we are in a bubble right now, but this downturn does not strike me as the big 'pop'.
>All you have is speculations currently.
I know, that's why I literally aasked for people's own speculations.
LTC may overtake BTC, But I would be shocked if it overtook ETH.

Someone who is actually talking sense? Where did you come from???

God sent you a very stern warning and I hope you listen to him. That's what's happening.

Doesnt matter I'm addicted to throwing my money at this shit

I want to say it's a bull trap but at this point it feels like wishful thinking on my part since I missed the dip. Sitting out for next day or two. Expecting some more volatility.

Please be right. Tethered my shit near the top and sitting on the sidelines now; didn't buy at the bottom cause too much risk.

buying at the bottom is the position of least risk.

Unless it's not the actual bottom. Easy to say in hindsight.

Literally everyone is talking about BZC right now faggot.

Looking at how the price has been moving lately 1btc will be worth like 1mill by the end of the year or more likely the bubble will finally pop an it will drop to about 600.

It's a bull trap
Smart money knows btc cycles and realizes this is the true correction and start of a bust. They're selling. And for the past month have been laughing at people who continue to buy the exhausted bull run.

can you separate what you think is happening vs what you hope is happening?

the truth is the price right now is a battle between long term bitcoin whales who want a stable price and wall street kikes who want the most volatile markets possible.

this crash has probably scared a big chunk of the recent small time buyers out but there is still plenty of money that will panic sell if we dip again.

regardless, this is the beginning of a bear market. best case scenario right now is a slow bleed down to 10k or whatever prior resistance level before some lightening or sidechains news causes a new flood of morons and a new bull run.

of course this is crypto though, so if we suddenly continue the uptrend and break through 20k in a few weeks I wouldn't be completely shocked.

>the truth is the price right now is a battle between long term bitcoin whales who want a stable price and wall street kikes who want the most volatile markets possible.
You got it backward m80. Whales make their money on volatility. Wall st wants it stable and much lower

People actually believe this. Jesus Christ you don't actually drink the fucking koolaid idiot.

Way too many rich people in the sidelines waiting for a good entry price to hide their money from the irs, this shit will keep pumping for quite a long time.

If I were a banker in Switzerland or the Cayman islands I'd be very very scared of crypto.

This. Wall street doesn't hodl. They buy dips and sell peaks.

Bankers don't actually care about crypto. It's not worth learning to them and is attractive mostly to people with small amounts of cash (relative to big banks). They're not excited about the tech because it has yet to offer them a reliable way to profit. And the assets are basically garbage with no fundamentals in the eyes of banks.