Have You Looked At Bitcoin Price Action Lately?
No, seriously though, have you?
This is getting out of control.
We are ascending the market cap at a rate even faster than we did in 2017. Seriously, where is the price going? At this rate it could easily breach the all time high and cap out at something ridiculous like $40k-$60k.
Look at the dips. There were basically three dips in 2017. We only have one during this summer bull run, and people still have the audacity to mention that we might still be in a bear market. We were literally never in a bear market. People are just impatient and greedy due to scarcity mindset.
@jrcornel
https://steemit.com/bitcoin/@jrcornel/bitcoin-fun-fact
Bear market? What bear market are you referring to?
So my conservative estimate for where Bitcoin was going this summer was 12k down to $7.5k... but I don't know now, this spike is getting out of control. We'll have to see what kind of resistance 12k brings, and what kind of support emerges from that potential dip.
Just a reminder
| 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 |
|---|---|---|---|---|---|---|
| $100 | $200 | $400 | $800 | $1600 | $3200 | $6400 |
| Jan | Feb | Mar | April | May | June |
|---|---|---|---|---|---|
| $3467 | $3733 | $4000 | $4267 | $4533 | $4800 |
| July | Aug | Sept | Oct | Nov | Dec |
|---|---|---|---|---|---|
| $5067 | $5333 | $5600 | $5867 | $6133 | $6400 |
This still remains my prediction for the absolute base value of Bitcoin at any given time. The value is doubling every year. Could we crash to $5k? Sure we could. Volatility breeds volatility. The higher the spike the lower we have to assume the crash will bottom out at.
Speculation
I'm playing the gambling game and sold a tiny bit of my Bitcoin hoping for a flash crash when it hits the 12k level. Honestly though, with how little resistance there seems to be, this could be an epic backfire. I don't think we'll see true corrections until we make it past the summer time. September and October will be my accumulation months, hopefully.
Its actually mind blowing, its had massive gains over the last 2 weeks. I remember 2017 hitting this price point twitter and crypto news sites were losing their minds but this time around its a bit quieter, i think everyone is waiting to see that ATH break before they start jumping on the gravy train lol by then its too late and we'll start dumping bags and rekking noobs which im totally okay with
Well said.
(Rekking noobs)
Upvoted fat
LOL thanks for the fat upvote! Have you been actively buying BTC all the way up? I’ve been doing so in small amounts and while an ATH would be great for me to sell my only regret is not buying more! The FOMO will always get you
Posted using Partiko iOS
Indeed, it is a bit quieter.
So many noobs are going to get
fleecedpwned.I used to think it had to correct 30%. Now I am not so sure it will until real retail FOMO hits. I have not bought much since 10.2K thinking it just has to correct. Now I am not so sure.
I got with my pants down holding no btc . I've been trying to accumulate steem. Ughh!!!
LOL CAN YOU believe the author said "Out of control" ? In reality things are finally going back UNDER control, and out of the chaos of an irrational abusive fiat
also theres always gonna be altcoins that outperform BTC for much smaller ,marketcaps and volume but we arent trying to turn 1 billion into 100 like the big plaers... most of just want a way to turn $1000 into $100,000 and i bet you theres gonna be some Steem engine tokens liek PAL which 100X soon just watch as peopel power down and buy PAL..
that's hopeful. What do you like about Pal. I have 1000 staked but don't really get it. I'm just along for the ride on that one. Should I be doing more there @ackza . Am I already left behind with only 900 Pal? What are your thoughts on steem at the moment?
Pal is run by a terrible discord that has banned ackza for no reason even after he has brought 3 EOSIo tokens to steem-engine who are now bringing their communities to PAL
And yet because of an overzelous moderator named shane, ackza is now banned even while communities he enlisted over to PAl are making their debuts on the PAl radio show discord experience
PAl will most likely be a pump and dump, get in now, sell high, don't stake leave your pal Liquid.
If it has some sort of front end or a mobile app, it has potential but who would use palnet.io ? What is its use case? Just to support minnows? Maybe if it had a useful discord but who wants to go dedicate years of their life to a place to be banned by one moderator who seemed to have an unresolved personal issue with ackza over the right of a user to block any user they wish even if they are a mod...
Of course, discord is no place for cryptocurrency users as they are close to banning much of the activity ranging room crypto to gambling as it violates discord TOS so we need better non discord solutions.
Palnet seems to be something users are going to invest in after powering down steem, only to leave pal once they realize it is no different. It will have its time...
Corrections or not, it's time to dollar cost average. I'm guessing BTC will be priced at $100-$200k in 2021.
Playing it safe is definitely the way to go at this point.
Anything else is just plain greedy or flat out gambling.
Lucky for me I like to gamble :D
What sort of question is that? Who doesn't watch the charts these days?
Wen altening? Wen moon sir?
July 15
"Out of control" ???
Who needs control ?
Do you?
I think bitcoin is on a high uptrend to hit $15k to $20k with no stop
I think this is legit insider FOMO. I watched one video from youtube that analyzed bitcoin price and it claimed that this is a B-wave up-run that sometimes happen in a bear market. Back when bitcoin bottomed I felt like it absolutely must be bottom and others must have felt that too, and now they are buying btc like idiots. One reason why I don't believe this to be a sustainable uptrend is because the alt-coins have not made gains enough for this rally to be considered coming from entering investors, but rather just old ones buying back or exchanging their alts.
Here is the video:
This is both concerning, hopeful, and really well put. I think most days about how I will view this time in my life, and the investment choices I made (and failed to make).