Does this chart look familiar? Prediction
We are entering the panic-mode soon I expect. This happens quickly. I think we're in the denial-phase now. People just saying "hodl" randomly without any reasoning. So wait a little bit more before buying in. Personally I'm waiting for sub 200 market cap before entering with more money. Maybe even lower. I think this will go on until March. Then we will se a more steady raise throughout the summer and autumn. In December 2018 we will look back at the trillion dollar market cap mark. Patience.
Look at Bitcoin in the chart(weekly chart) below (don't mind the crappy lines and totally superficial TA)
You can easily make a more rational trend-channel like I did. And now were about in the middle of that trend channel which is pretty steep even. If Bitcoin turns around 7500 levels that correlates to markets turning around just above 300. I think that is very likely. At the same time..It could just be denial :)
ha, wait for the panic buying!
This what i called rational prediction, i totally agree with you.
i totally agree with @ehabakhdar
Ultimately a lot of this money and a lot more will come back in - there's so much wealth in the world and not enough places offering a satisfactory return. You're right to take a long term view I think.
I could also be entirely wrong. There could be way more money waiting to get in, so this chart could potentially be done in a day or so. I'm really just trying to be conservative and help people calm their expectations. I'm not saying it won't go up to 700 billion tomorrow morning. It could :)
700 bil tomorrow, no it wont. 500 bil tomorrow is possible although i hope it goes to 200 bil before heading up
Indeed, the forecasts are crucial to many
Exactly. The question is how far down will we go. I surely dont want to catch a falling knife. I would prefer to catch it when it bounces off the floor.
300 or 200 isnt that difficult to guess.
Well, I have been saying for awhile a correction was much needed and this is the one I was waiting for I think. We had several very short fast crashes over the past year but none of them lasted long enough to shake out the weak hands. Before people really had time to panic and sell, the price would rebound. This one will seperate the hodler's from the people that just thought they would get rich quick.
thank you very much for the information
everyone is expecting it, everyone is waiting for the price increase bitcoin
thanks @scandinavianlife
Very informative post.Your observation is very accurate.@upvoted
it allways happen from time to time, if you want cheap graphics card they will be coming soon on second hand selling websites, it's been a while i am looking for a 1080 TI under msrp xD
Anyway, i think it will be back to it's normal growth after a while just like you said, it will slowly rise again. Probably ^^ But i saw people making like dozen of thousand dollars investment in december that are in panick mode right now and trying to sell everything they have, so it's just getting the price down and down in escalation, when the craze will be over, it will rise again.
Could be true, in that case we would go down below $5k even for BTC. Let's see, because then I am definitely buying :-P