Bitcoin Bottom Prediction
Its not a very good day if you are a bitcoin investor. The Prices have come down again, even though the popular perception was that it would climb back up breaking this bear market. But unfortunately it didn't happen. I am writing this article/blog to pen down some weird thoughts that I have so lets see what my mind has in store for you :-
- Production Cost :-
- The next bottom for Bitcoin Price could be its production cost. Say if the average cost of producing one Bitcoin is 5000$ then that is the next expected bottom.
- Demand Supply Imbalance :-
The fall in pricing means that their is less demand than production as off now, resulting in price drop. This increase in production has been because of the increase in Mining. When the price falls below mining cost of Bitcoin a large number of mining operations will cease to exist or close down. When the mining starts closing down the production shall decrease.
When the supply decreases and the demand stays the same or increases, the price is bound to move up. Right now 1800 Bitcoins are mined every day. If that value comes down that price will go up.
The closure of Mining Operations cannot be expected if the crash is short term. The crash below production cost has to be for more than 4-5 months or may be a year so that some mining operations shut down.
Eg :- When the Petrol Price crashes due to some reasons OPEC leaders get together and decide how much production to cut so that the price is maintained at their desired levels.
- Alt Coin Bubble Must Pop :-
- The Alt Coin Market is a Bubble and it must Pop. It would be in the interest of the Crypto community if the Alt Coin Bubble pops. Money has to come back to Bitcoin. Only Bitcoin Cash, Litecoin & Bitcoin have any kind of value or brand value attached to them.Apart from Steem and Ripple,i don't see any other Alt Coin fit to survive. Even Ether and EOS, i am not a believer in either of them.
My Prediction for the Coming Months :-
Don't expect to see a massive Bull run any time soon. There might be spikes,if you can, do take advantage of them.
When the price Hits bottom around $4000$-5000$ or even lower start buying and do not buy in one go make your purchase spread over a period of 4-6 months. And then Keep buying till 2020. Yes right don't plan on selling before 2020 buy as much as you can as cheap as you can. But don't sell before 2020.
Important Note :-
I am Not a Financial Adviser, I dont know the future, These are just some random thoughts in my head.
Your statements make sense and sound practical. Thanks for sharing.
Thank you...
This post has been rewarded with 30% upvote from @indiaunited-bot account. We are happy to have you as one of the valuable member of the community.
If you would like to delegate to @IndiaUnited you can do so by clicking on the following links: 5SP, 10SP, 15SP, 20SP 25SP, 50SP, 100SP, 250SP. Be sure to leave at least 50SP undelegated on your account.
Please contribute to the community by upvoting this comment and posts made by @indiaunited.
the bottom for BTC is looking to be between 5900-6300 to be honest.
there is no telling though; regardless I am a long term player and don't do much day-trading and little swing-trading.
I'm not selling until 2020 and beyond!
My target is to Sell in 2024 ..keep buying as much as i can afford to burn till then...thanks for the comment..
ye well im quite sure there's collective of either cryptonnairs or old vampire nazis in wallstreet behind this, a correction only goes that far without lehman brothers-class events, there's more behind this ... but well ... doesn't matter right, giving up is not even an option
the bridges have been burned :p
OPZIONE DA SBALLO
X S_MINATORI DI MINE
https://blog.libero.it/FTSPMIB/mediaviewsk.php?%3For%60zo%26mm%7DKg%60%27%7F38028537%25%3B2490-kaied-oC%60MIQRDVz%2773%25%3B%05kmcnmgjgx%7B%27ek%2Fne%7Col%05j%5B
ROBA MAI VISTA ANCHE NELLE CRIPTOCLEPTO
MENTRE NEL MONDO DEI CORIANDOLI
TANTI STANNO BALLANDO SUI CARBONI ARDENTI...
Bitcoin: hacker all'attacco in Asia, crolla sotto i 7mila euro
Dopo l'intrusione in una piattaforma sudcoreana nel fine settimana, l'effetto-panico e la bassa liquidità sul mercato hanno amplificato il crollo alla ripaertura dei mercati: per il Bitcoin ormai da inizio anno la perdita supera il 50%
TANTI CORIANDOLI SPARISCONO E TANTI ALTRI SE NE CREANO..
IL CARNEVALE... CONTINUA .
i'm afraid my Italian is not nearly adequate enough to read this :p scusi (?)
No going back...we can only trend ahead..
we can only analyze what lies behind and come up with several timelines that might happen but there's no way to be sure because it's too much information to process at this time :)
Quite prankly, it is impossible to guess the bottom or the peak of Bitcoin. What I suggest is we try to estimate “Buy range” amd “Sell range”.
In this case, givent hat many FUDs are going and (probably) to be over soon, I would go with Lon position around $6300
You got a 7.53% upvote from @upme thanks to @rzs! Send at least 3 SBD or 3 STEEM to get upvote for next round. Delegate STEEM POWER and start earning 100% daily payouts ( no commission ).
Coins mentioned in post:
When the price Hits bottom around $4000$-5000$ or even lower start buying and do not buy in one go make your purchase spread over a period of 4-6 months. And then Keep buying till 2020. Yes right don't plan on selling before 2020 buy as much as you can as cheap as you can. But don't sell before 2020.
I agree with you Dear @rzs
Thanks @maujmasti
Thank you buddy..
Yep my targets are much lower as well. 400 is the ultimate buy I think we get it...
https://steemit.com/cryptocurrency/@heyimsnuffles/crypto-carnage-is-imminent-20180610t190128430z-post
There was a moonshot and drop back in 2014. That one came with an 86% correction. Price started at around $1,150 and fell to $162.
An 85% correction in the current market cycle would put the bottom at about $2,750. The next cycle for a moonshot is going to take longer to develop than the last one, but it is still going to get out of hand and turn into a "mania." The fact that we are all involved in this right now, simply gives us a better view of when the next mania happens: we will all be ready to ride out this current storm and take huge profits at the next run upwards. And, it might take a couple of years for that to happen. But, when we see BTC hitting $50,000+ then we will know what time it is. Time to take some profits.
Completely agree with you...