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  1. #1
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    Default Bitcoin Graph Parabolic

    Well once again if you look at a multi year graph for the price of Bitcoin it has become parabolic. Generally when a financial instrument becomes parabolic it is prime for a big pullback like we saw with BTC at the end of last year. It is hard to believe BTC is up over $4,000 just this month. One has to think the increase in BTC cannot sustain itself very much longer.
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  2. #2
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    Bitcoin is not just some normal financial instrument. It is the potential future base monetary layer. The concept of mining and supply of btc is not possible to be compared with any other asset. So it needs a different approach and the market is very different to other markets.

    I agree this growth is crazy again, but those runs happened few times in the past. Sometimes without pullback, sometimes with pullback. Many people regret they did not sell after those runs, many people regret they sold after those runs. If you hit black 10x in a row does it say anything about 11th spin? If you believe in bitcoin, nothing changes, because it is still relatively cheap. If you do not believe then get rid of it.

    Selling less than one year before halving for price lower than ATH is no way for me.
    We are all bloodsucking ticks, hungry, devious
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    I would guess that the halving effect would be different this time. There are more people aware of it so i would expect that the price would go more up before the actual event and be more flat after and not insane parabolic chart after the halving.
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    Who knows right? What you say (more people aware of it) makes sense, but also more people are aware of the fact that more people aware of it... right? So what will be the final impact is unknown.

    I was expecting the same what you said... until few days ago everything was crystal clear. Recent development invalidates that theory. What is happening now is too wild and still too upfront. There is still over 500K BTC to be mined until halving. It is I guess a lot. Let's see if the correction comes.
    We are all bloodsucking ticks, hungry, devious
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    when the last and the first latch on it can be shown
    ass-blood sucked by the first from the last is his own

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    ddm
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    technicals are utterly irrelevant IMO ... as we see BTC smash thru the 11.5k support.
    #MOON

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    Fidelity will soon offer BTC as an asset, once this starts flowing to other institurions, and once you can hold your BTC in your local bank, AND once the general public realizes 1 BTC is worth more than $1 its limitless
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    Will Bitcoin price reaches 15 k at the end of 2019 ?
    I am hoping that bitcoin will reach 20k$ by the end of this year. Trace Mayer said that the bitcoin price in 2019 will likely close at $21,000

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    ddm
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    $BTC => 13.6k.... mooooooooooooooon

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    Moment of silence for RZ.
    We are all bloodsucking ticks, hungry, devious
    each one latched on to the ass of the previous
    when the last and the first latch on it can be shown
    ass-blood sucked by the first from the last is his own

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    Quote Originally Posted by Sherlock View Post
    I agree this growth is crazy again, but those runs happened few times in the past. Sometimes without pullback
    Like I never did get that opportunity to buy back in sub 2k after the initial 1.2k run up.

    Quote Originally Posted by Sherlock View Post
    Moment of silence for RZ.
    LMAO


    Quote Originally Posted by ddm View Post
    technicals are utterly irrelevant IMO ... as we see BTC smash thru the 11.5k support.
    #MOON
    Here's some interesting technicals...

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    Just wait for BTC to cool down and the alts to start pumping. Alt Season is coming.

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    Quote Originally Posted by Sherlock View Post
    Moment of silence for RZ.

    ... its still evil

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    MMM
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    I wonder if the halving effect will be similar as in the past - and for me the answer is no. There are much more people invloved and there is more history of events to judge from. My guess was that it will go up higher in anticipation but that it won't have same crazy run in the following 6 months.

    Just checked the Litecoin graph and it seems to assure that.

    Would like to hear opposite opinions as well.
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    It must have effect. The miners will have rewards halved with the same costs. Look how hashrate now is running like crazy. How big the effect will be is questionable, but math says at least 2x up. Upper limit unknown, but certainly much less than 100x up that was last halving hike.

    LTC does not concern me, shitcoins do not have the volume and it is hard to read the charts. Litecoin during last halving had double peaks before and after halving and the local minimum exactly around halving. So it can be the case even now.

    I am not concerned yet about last 24 hours. The 14K in 2019 was overshoot and now this can well be undershoot of the trajectory of 4 years cycles.
    We are all bloodsucking ticks, hungry, devious
    each one latched on to the ass of the previous
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    ass-blood sucked by the first from the last is his own

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    Lets see if there is a rally before the halvening

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    Quote Originally Posted by Sherlock View Post
    I am not concerned yet about last 24 hours. The 14K in 2019 was overshoot and now this can well be undershoot of the trajectory of 4 years cycles.
    Indeed, I was not liking the rapid increase in 2019. It does not speak towards any degree of stability.

    Even with the "losses" from 14k, BTC is still up over 100% this year which is more than I can say for any other trading instrument with a 12 figure market cap that I am aware of.


    Quote Originally Posted by Soplica View Post
    Lets see if there is a rally before the halvening
    I expect there will be, but as another person said above, I do not expect it to be as pronounced as before, since this is a "known event" that has happened multiple times before.

    One would presume that the more times said event repeats, the more people will be involved and dilute the effects of said event.
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    I think that 90% of crypto price movements is pure manipulation by the whales, and as such, I'm not a big believer in technical analysis and charts. A chart can tell me what the minimum/maximum price was, and you might set a buy/sell order based on what the technical indicators tell you, but then along comes a group of whales with their own agenda and it's a whole new ball game. I'm sure that the price of BTC will significantly increase in the weeks/months leading up to the halvening, but how high the price will go before whales start to short it is anyone's guess.

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    Getting tanked

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    The Bitcoin price dump is blamed on false reports that Binance's office in Shanghai was raided by police, but Binance CEO CZ denies the reports and says that Binance hasn't had an office in China for 2 years. xhttps://twitter.com/cz_binance/status/1197673244452478976

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    Rarely have I made such bad decisions in terms of money as keeping my BTC commission instead of selling it. India wants to be open for crypto, China too, halving around the corner. Maybe we'll see a big bullish wave and gaining some 20 or 30% or 40%. Unfortunately, that will not even compensate for the current losses. If an asset loses 50%, it must rise 100% just to reach the starting price again.

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