Bitcoin Price Thread

bitcoin
cryptocurrency

#4333

At what price that you would join the fool club?


#4334

Have you got any links to this info or did you poll all those participants yourself? Or are you making assumptions?


#4335

BTC has historically retraced 80-90% per each major cycle, if you can buy in this range, I’d say you are doing well. Currently we are at an 81-82% retrace (credit athcoinindex); $3k takes us to a full 85% retrace.

If you are accumulating for the next cycle, you care less about how long the ‘bottoming’ process takes, you are not spending your milk and bread money to buy your altcoins; all you need care about is accumulating as much supply as liquidity allows before the price cycle begins to grow incrementally.


#4336

Thank you very much, I really appreciate it.
Luckily my friends have been really supportive. I’m still sad but I’m still learning and working on myself everyday.


#4337

Skip past Tone’s blah blah to around 59 min mark where Jimmy Song talks about his 2014-2015 experience

Its funny how the past year, so many people were like ‘no, bottom is in’, or ‘no, its not going multi year bear’ etc even though people from the past btc crashes and traders with decades of experience said fat chance. Like the young guy at the end said, ‘experience can’t be bought’

Even if i told the next crop of fools when the top is gonna cave in on them, they wouldn’t believe me anyway. I think they’d rather have me lie and say ‘nah bruh, its moonin. 1 btc is 1 btc. Buy one before its too late’ lmao

I don’t think i’ll lie though, not my thing. Rather tell the truth and torment them


#4338

good move in my opinion im thinking about the same


#4339

You’re a sick man lee :mask:


#4340

why not, they did it to us :stuck_out_tongue_winking_eye:


#4341

Appreciate your insight. I somewhat agree with most of what you said but I don’t think that’s what determines a bottom though I don’t know what will determine the bottom… Maybe a school of whales agreeing enough is enough?

Sometimes it’s not about the truth… Its about the delivery and how the reader interprets your message!


#4342

I understand that sentiment has a major influence on price and although what jimmy said in the clip makes sense, this was recorded 7months ago at which point he was probably correct, no one was wanting to believe we’d continue down (myself included). Fast forward 7 months and how many people within the pub (admittedly only a tiny fraction of the entire crypto community) are calling for a full recovery?
Also when jimmy was using the word recovery, how are you interpreting that? A new ath? Or a sustained/obvious uptrend forming?
How are You gauging sentiment? Surely it isn’t just sentiment within the pub?


#4343

“Recovery” isn’t a helpful term because it requires context AND measurements.

I don’t see Bitcoin ‘recovering.’ I see Bitcoin continuing to expand, continuing to grow through the network… regardless of price. This is what I talked about in my Bitcoin Apologetics series Part 1.


#4344

Correct…after all, Bitcoin is in fact the best performing asset class over the past decade, and up about 400% over the past couple of years. What’s not to like? If that’s “recovery,” just imagine what a normal trend will look like.


#4345

And fwiw, TA is total BS. You see what you want to see…For example, I totally saw the black swan coming back in 08 based on this chart:

In reality, it was a goose.


#4346

Actually. That looks like a t-rex


#4347

Just goes to show how subjective TA is I suppose :joy:


#4348

We are on the cusp of our next recession. When the Fed/central banks push the world into QE4, and it fails, society will have to wake up and choose another option. BTC gives us that option now. I will continue to transact in BTC wherever I can to promote adoption of the currency. How much will 1 BTC be worth in 5-10 years when people finally realize the awesome power of this fully operational (Death Star,lol) money??


#4349

image


#4350

Bitcoins main value proposition is that it’s an unconfiscatable store of value. So price growth related to that value proposition will depend on how much that is needed in the world. Yes a lot of people got burned bad in this market, but remember that was a small percentage of the world’s population (and money supply). There will be smart money accumulating the lows that never were involved with crypto before. I put a lot of confidence in the price rising simply because of bitcoins near perfect inelastic supply.


#4351

Just remember to post this barometer the next time we are in a crazy hype cycle. It may remind some of us to sell before the next bear cycle.


#4352

so many value propositions though.

my personal OPINION is that it introduced the ability to transact on a global scale large quantities of securely as well as denominations of value less than what is currently feasible. (This characteristic will be limited only to a developers creativity.)

Bitcoin has proven it has worked so far.

So until it has been falsified entirely, everything from my perspective is that we are experiencing market cycles of an emerging asset.

But I could be wrong and we all get to share living in a box together.