Do I Think Bitcoin Price Will Go Down To $1,000? + Ethereum Hardfork Update
I would like to provide my perspective on 2 subjects…
The Ethereum hardfork (which has been delayed due to a last minute security issue that was found)...
The speculation from a number of sources that predict Bitcoin will drop to $1,000 before we get a new bull market...
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Thank you, Chris, for the analysis and overlay. It’s definitely hard as a perma-bull or someone who is mostly positive about BTC to not react to these predictions. It’s like someone calling your baby ugly; it’s not an easy thing to take.
I’ve found this video by Bob Loukas, an analyst from bitcoin live, extremely insightful. It reviews the cycles of bitcoin on a log scale, using the definition of a cycle meaning the space between two low points.
It maps two 4-year cycles, by week and denotes the staggering similarities between them. It goes into more so I don’t want to spoil it.
great episode, liked the perspective. Are you also looking to find 4 analysts with the opposing view?. In addition, is hedging part of your trading course?.
Hmmm. Yes, it could go down that far but I definitely have to discount Clif High from the list. He's got so much wrong over the past 12 months and although I think he is any extremely bright man, I pretty much don't believe in his "predictions" any more.
Education and liquidity needed
Posted using Partiko Android
Thank you for your insights and perspective. I hope we will stay stable or move slightly up.
I hope you're wrong about bitcoin going to $1000. However, we all must be prepared mentally for this situation.
Thinking about being able to buy BTC at $1,000 dollars is like crypto porn lol
I hope they are wrong. However, we must be mentally prepared.
Wouldn't the mines stop mining Bitcoin if it gets that low.
Some miner would stop due to the cost of the electricity, but for example the ones in Venezuela with really low cost electricity will continue operating
Just as @juanete20 mentioned, the concentration of where they are mined will shift to other countries where it's cheaper.
Thanks for your video.
No matter what happens, I will keep buying crypto once a month.