This is very fucking unsettling
BURN IT DOWN!
what is this
The future you chose.
2013 bubble burst (blue) vs current price.
This sounds so good. We will become early adopters again, get ready for may sale.
ow, my soul
So by the end of May I can say we have definitely hit the bottom, yes? I can wait that long. I'm extremely patient. I just need to know.
>down on your knees
>get ready to receive the red dildo of kekchain
Oh good it's going to go back to my most recent buy price. Dropping these bags asap. Fuck crypto.
this is it Luigi
50k-100k 2020-2021. Crypto doesn't take over as the world currency until 2025+. Enough time to quantum compute and find a solution for scaling the blockchain worldwide. Decentralized exchanges will be household names. Kids will be rocking Binance shirts.
So according to this, bottoms out at around 75%. Actual figures, $1100 ATH to a bottom floor of $220, approximately 80% of ATH floor. So by those number you would expect a floor of $3900.
I dunno man. That kind of dip would probably kill the mining industry that grew around it. would be a disaster.
>btc goes to 5k but LINK moons to $50 so I buy 2k BTC with my stack
das it mane, das it
more food for thought. i don't think it will go that low either, and i also don't think we're in for a four year bear market.
but who cares what i think?
I think we're in for a 4 year bear market in total marketcap but a few coins might go up by a lot, which can help you make money.
in the long term I like LINK, ARK, EOS, HPB, WAN, SKY I suppose
You mean the quantum computing that would make cryptographic functions irrelevant?
>Kids will be rocking Binance shirts.
It's funny how people forget that Binance has existed for 6 months only. There's no reason to believe that it will last that long.
It was less than 4k until 6 months ago, what problems would there be besides those paying more for power having to shut down?
I guess the miners could shut down a portion of their operations. I have no idea how profitable those mining operations were but if they were using leverage to build their business (like normal businesses) then a number of them would probably have to sell off equipment or go bankrupt.
So you're saying the bottom will be in May and it's all uphill from then on?
It is not possible for BTC to drop below 7500 dollars.
the floor is 0.
Exactly. When price goes down, so does the hashrate. Mining becomes less profitable, so a bunch of miners run out of business. Mining will always adjust to the needs of the network and price.
Months ago people used to say 'BTC never falls below the 200 DMA.' We have been below the 200 DMA for over a week now.
The big miners paid off their initial purchases long ago, as the small miners leave the difficulty will get easier / readjust
The one thing I don't get is how we could follow this so we'll even with how manipulated the market is. You can see in 1 minute charts that every significant price movement is from a single entity or entities. How and why would they follow a typical bubble cycle?
> if they were using leverage to build their business
lmao they are loaded with cash. The opposite of leveraged.
try sideways for 4 years
all tethered up...will buy at sub 5k
BTC tends to fall under the 200 DMA when its value is under the average of all vakues for the last 200 days, but it should go back over the 200 DMA when the price increases to an amount higher than the average of the last 200 days
>BTC tends to fall under the 200 DMA when its value is under the average of all vakues for the last 200 days
>but it should go back over the 200 DMA when the price increases to an amount higher than the average of the last 200 days
NO FUCKING KIDDING!!
Right. Just pointing out that its stupid as fuck to think it means anything important or not otherwise obvious
Been waiting for 3k the whole time and will dump life savings of 76k into btc and a couple alts even if it's at 3500
It could be a threat, but it could be used to make the blockchain better. Not sure how that would work.
6 months and Binance has the most volume of any exchange. They know what they're doing.
Just look at last year's charts. Every dip stopped exactly at the 200 DMA. Traders saw that line as a 'buy zone.' But it seems it's become a 'sell zone' now. Prices are determined by people, and people use moving averages as a reference for determining when a price is high or low.
I'm very bearish but I will eat my fucking dick if BTC gets to 1k. Literally impossible.
>They know what they're doing.
They have no clue... Just two weeks ago their API was hacked and almost fucked up the entire altcoin market. A month ago their server crashed and they took days to reestablish service.
This is right, this time things are moving much faster. So no, we won't see another multi-year bear market.
I really hope this comes through
but will recovery take equally the same amount? 2-3 years? this TRULY shakes the normies out.
Their api wasn’t hacked, users got phished. They reversed the trades and identified the 32 accounts responsible in less than 12 hours.
That $2800 panic sell off is sooooo tasty! Can't wait to go all in.
yea, it probably won't get close to $1k, but some of the comparisons between 2014 / 2018 are pretty interesting
Yeah those were serious issues that weren't all on them. Clever API logging. Servers can crash. They resolved it though right? Keep our fingers crossed it doesn't happen again.
If quantum computing ends up breaking crypto, you won't be able to encrypt traffic to https websites and will have no way of verifying a website identity.
We will have bigger problems than crypto and things will evolve before that as quantum computing won't just suddenly happen
There are still SO MANY risks that can take BTC down.
1) General Normie China/Korea FUD
2) Tether is a ticking time bomb that can literally wipe out 90% of the Crypto Marketcap
3) Ghost of Mt. Gox
4) General Market Bubble Pattern.
5) Whale Manip
Currency of the future!
Visa ain't free, my friend. We are all paying for it.
>load the asic boost fud
If it goes that low, you might want to look at why first.
When it last dropped to 6k, there was huge fud, bans and dumps of gox altogether.
3k would mean it's gone quite bad
Not you, but the retailer. For whatever cryptocurrency that might be adopted the retailer will also have to pay because he'll likely use third-party services to process transactions instead of running his own node.
>Not you, but the retailer.
The retailer transfers the costs to you by increasing prices.
So do your math. Few will bother running their nodes
You guys realize that miners will stop mining at that level right? Ironically that will drive the price up because there's far, far less people to sell. $5,500 is roughly the bottom for this.
Miners will never stop mining. There will just be fewer of them