The bottom is not close


#1

Normally I would say that this is a good buying opportunity, but I can honestly say that I wouldn’t put a penny in this current market. We aren’t close to the bottom. I see BTC getting to around 2K-2.5K before being put in a holding pattern. Is crypto a long term hold? Probably, but your money is going to sit for a long time before it ‘maybe’ gets realized. I was prepared to take a 60% position in Wanchain when it comes to the exchange shortly, but now, forget it. I’m not putting a penny in this market for at least another 2-3 months. Sure, I could DCA down as the market falls, but why would I do that, when it’s all but a guarantee that the market is going to decline further. I’ll just wait until it hits bottom. Maybe I can’t guess the absolute bottom. That’s certainly true. But another 40% drop is all but a guarantee. Perhaps that isn’t the bottom, but it’s a lot closer to the bottom compared to putting money in this market at this time.


#2

Cool story bro’ …


#3

A further 40% drop in market would put the total market cap at about $180bil. That’s pretty low.


#4

Interesting insight. Consider dropping this in the three other threads about how low bitcoin will go?


#5

Not trying to sound like a douche here but you should back up your hypothesis. Maybe some technical analysis or some other evidence of your claims.

Point is not to spread FUD


#6

May not be low enough, TBH, since the market is also propped up by enough companies that will never do anything.


#7

Nah…my thread is better.


#8

On a positive note, this decline in market cap should shake out a good few shitcoins in the coming weeks. I’m all for that tbh with you.

Maybe even kill off lending platforms. That would be a god damned bonus.


#9

There is no technical analysis to be had. The crypto market was stagnant for years, and has gone bonkers for 18 months. There is no historical data to point to in this current sea of red. The obvious problem is that crypto is threatening the world economy, and no one is going to beat the world economy. All the early adopters that made millions are getting out. That’s is why the market has collapsed so quickly. Some are saying that the people that are leaving the market are the weak hands that don’t “understand crypto”. I call extreme BS on that. Those people don’t have nearly enough net worth invested. The people leaving are the dudes with mega gains and they don’t want to watch it evaporate.


#10

Yes this decline will kill a lot of shitcoins for sure, just as it did back in 2013 bear market where many shit to decent alts died


#11

That is true, but the difference now is that world governments and big banks are watching and paying attention. The market will be held down until the world economy has enough controls in place where they feel confident to let it go. That could take years.


#12

I just cant take this thread seriously with your temp avatar of Roger Ver…


#13

As a side note: lol, Hey remember when crypto had a code, an ethos - ye shall not fud. that was like 6mo ago. Now all the noobs and bros flood in, get rekt on the sizzupr, stumble out the club with their purses dangling - and the only thing they know how to do is yap and jaw; fud this, fud that.


#14

i can’t believe how much the total market cap has retreated


#15

this is the after Christmas clearance sale. Making room for all that spring season Bitcoin in march. I’ll wear last years bitcoin at a discount.


#16

Never would have had a bear market if everyone supported BCash. I don’t need to do any TA or back it up with proof. BCash would have super cheap, fast and reliable. And Roger would have been handing out free handjobs with every transaction.


#17

Damn what the hell guys such low moral just pick up your spirits and dredge through this thing. Lots more things in life and bitcoin and crypto than just money. Hell I had CD’s for years and did not make shit just pretend your money went to a CD for a while with a low interest rate. It will be better before you now it life is short and time flies.


#18

I have cruchened a lot of math and data. Beautiful crash indeed like fine art. Winter is coming


#19

If you take a look at the top 100 Bitcoin wallets, as an aggregate they have actually added to their holdings during this correction.


#20

Ofcourse they have its a ponzi