Will It Bottom? Good News, Bad News... 🤔


#1


Source: @real_vijay

1/ Everyone wants to know when #Bitcoin will bottom. I have some good news and some bad news. Which would you like first?

2/ Bad news, right? Everyone wants the bad news first. If you can stomach the broccoli you’ll get rewarded with dessert. At least, that’s what I tell my daughter!

3/ Ok, here goes: bear market bottoms are NOT formed as sharp V-like corrections, retaking the highs; that’s what bull markets look like.

4/ Fear is not the opposite of greed, apathy is. Fear and greed are just two sides of the same coin: captivation.

5/ Bear market bottoms are formed after prolonged periods of false rallies, increasing disinterest and eventual apathy. The mindset is “I give up, I’ll look for returns elsewhere”. It also coincides with a dwindling of media interest.

6/ Sadly, we’re not there yet and may not be for many months. I think it is unlikely we will wait for years, however, since the fundamentals of Bitcoin - security, usability, liquidity - are all improving rapidly.

7/ Now the good news. Bitcoin is not done, not by a long shot. Good ideas don’t die easily and not when they are as anti-fragile as Bitcoin is.

8/ The development of an easily transmittable, non-confiscatable, non-inflationary currency is profoundly important. People of the world can now keep savings without fear of confiscation or debasement. This has NEVER been possible before.

9/ Further, the real work of making Bitcoin more valuable continues apace:

10/ And if you speak with kids today, you will find that very few of them are interested in gold, but almost all of them know about (or own) Bitcoin. That alone tells you the future. Bitcoin WILL overtake gold in market capitalization eventually.

11/ So whether the bear market lasts a few months, or even a few years, Bitcoin is still massively undervalued today.


#2

I agree with a lot he is saying, but I dont think bitcoin has too far to fall. Since it touched lows recently, it has been gaining more support. And at a higher price than before the december run. I might be wrong, but I mostly hodl snd only try smaller trades so I feel that “false rallies and crashes” are only fluctuations on the way upwards.


#3

it only takes a couple of “bad” news or FUD to go through its previous support at this lvl and it’ll go down hard …


#4

It may drop lower but we will see numbers that will blow us away in the future I think 20-30 Trillion in crypto will be something we see and maybe faster then any of us can imagine


#5

yeah no doubt about that, I’m a true believer in blockchain tech and the use of many alts.

Just saying that as BTC is now, it will only take a couple of extra FUD news like the ones we had last month and it will go through its last resistances, which I feel they are week since we’re on a big retracement.


#6

That may well be but I feel thats just fluctuations aswell. It rises with the anticipation of good news aswell. Doesnt take much to move the price in either direction but zoom out and it’s still rising :slight_smile:


#7

aye, hope we get good news to start the uptrend.


#9

Things were different then. Blockchain tech didn’t have the interest and momentum it has now. I doubt it will take a year this time. 6 months perhaps. People forget fast.


#11

Bitcoin will be back over 10K by the end of Feb.


#12

Always the maximalist :grinning:


#13

Maybe we’ll be there by the end of this week. The next 2 days will be interesting. I hope we smash through resistance.


#14

I doubt we have enough power to smash through 9k right now. Those bulls better grow some bigger balls.


#15

I know. We need to break above 9K by end of the day. :bullish:


#16

It’s only just begun.

Remember the future. 2018 will be the best year ever.


#17

That’s an oxymoron :stuck_out_tongue_winking_eye:


#18

The aspect regarding the formation of the bottom of a bear market is interesting. He explains it well, labelled as bad news, under the pretence that were already in an actual bear market.

However I feel this is simply a harsh correction and not a bear market at all. We formed a reversal hammer on the daily candle, and the charts are looking healthy.

Granted that’s not the point of the original post, but it’s my optimistic take on the situation, so it does fit. :slight_smile:


#19

It’s actually one of the most powerful thinking techniques I use with companies all the time around vision casting their product.


#20

Imagine if you will that we are only in a small dip. In a few years we will be so far zoomed out that it is barely visible on the charts. :explopants:


#21

like the previous so called crashes :hulksmash:


#22

Remember September 2017 dip?

Now look at it.

What is this? A dip for ants?!

tumblr_n1fixeSAS21s5bh5uo1_250