CRYPTO CARNAGE is Imminent
I am in the top 10% of those on social platforms that have been talking about this bitcoin puke that has needed to happen for weeks. I’m sick and tired of seeing the Elliot Wave analysis, the falling wedge analysis, the held Support analysis, that doesn’t mean shit innthe real market world.
Everyone is a genius in a bull market. Bears are much harder.
You really wanna know the chance Bitcoin and Crypto has bottomed? I will tell you it is pretty much 0%.
We are going to continue lower until we get the full on puke and everyone starts calling for 2000 and then we get the volume for a bottom. After that more sideways likely before higher. We will have to look at the charts before looking to far ahead but not it is VERY OBVIOUS we are headed lower.
Strap on the Seatbelts and Stay Tuned
Follow me on Twitter and all other media @heyimsnuffles
Glad I found your articles will be staying tuned as well now. I'm a bit uncertain as to whether the market is gonna go up or down. Its clearly a no buy at the moment for me.
Jesus!
So you are thinking that the bottom for bitcoin may be around the 2k-3k and then after that it will accelerate like it did late last year? I think if if starts to get lower and lower, that it would be a great ROI before the end of the year.
I read a week ago that they place it at around $1800... That's the cost to produce a single bitcoin apparently! So allowing a small profit for miners, yeah I'm seeing $2k.
I am seeing 4400 and 3000 as the spots to load up personally.
Can you believe (surprise) sentiment is actually more bearish right at the moment than yesterday.??
After the short time being in cryptos, nothing really surprises me anymore. Haha!
Yup.. I've been saying for a while now it wouldn't surprise me at all to see us drop below $5000.
Everybody is still far too anxious for a bull-run and overall generally positive about Bitcoin. A far stretch from the 'desperation' that really is required for a true bottom after a bubble.
It's like 2014 all over again.. both in charts as well as in market sentiment.
Dropping 50% from where we are would put is more or less at the equivalent of what was the bottom last time around, relatively speaking.
I'm not ready to buy more BTC with fiat until we're below $4500
edit: I don't care though, still HODLing, just like I did back in 2013/2014!
Yesss 4400 is one of my spots. I love it there! Thanks for reading
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Yeah, I would think that as we get close to the actual cost of mining (which in most places is in the range of $3-4K+, unless you want to gamble on somewhere like Venezuela), things will definitely change. At that point, the power balance between BTC and alt coins will probably also shift as people realize they can mine a whole lot of other coins for a fraction of the cost.
Am glad there are lots of honest analyst in Steemit, so much shills in Twitter, so much lies. I thought BTC would go up. Hedging now all my alts and BTC in USDT.
4000$ - 2000$ - 1800 $... thats pretty low floor :(
If this keeps up i'm getting some Steem power! What price do you see it hitting 1.25?