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RE: What will happen to BITCOIN if this happens?

in #bitcoin7 years ago

You're making me nervous! But I have my doubts. At $120 per Bitcoin and 16 million circulating coins that would bring the market cap to below $2 billion. I'm sure if Bitcoin drops this big the entire market will drop alongside it, but today it seems very strange to imagine a Bitcoin market cap that is so low, especially when you look at the entire market's size.

I know about the tulips but I think the comparison does not hold as there are too many intrinsic differences between tulips and bitcoin. I prefer the comparison to gold which holds up much better I believe.

Anyway, what I will be taking away from this, is that I will take a good portion of profits at around the $6500-7000 mark and secure those away. And probably keep the rest in, just in case you're wrong! I am a believer in bitcoin and blockchain, but I also believe that many of the top investors are probably using the same techniques as you are. As such it could very well turn into a self-fulfilling prophecy - it only takes a small percentage of the market to move the entire market as a whole.

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EpiC reply.
I'd say it's the chart of the year.

But the gold graph, in comparison, looks nothing like it...

Gold to $1,500

But today, after I drank my coffee and applied Tasseographic analysis and according to that I get this:

Cupcoffeehodl.png

So I'm not sure..

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