Bitcoin to drop below $6000 within 10 days

Bitcoin drops below $6000 in the next 10 days:

  • Yes, bring it on

    Votes: 6 30.0%

  • No way

    Votes: 10 50.0%

  • Not so fast

    Votes: 4 20.0%
  • Total voters
    20
Well i don't worry myself with what is happening or the reasons at all. To me it's just all noise. There might be some bad news, old whale dumping or whatever, i don't care really.... There is a million factors that can influence the outcome, but it's all included in a single indicator - the price.

Anyways, overall i think we kinda bearish though. I track 2 clowns, one sold in the midst of corona panic and bought back now, the other one was buying BEAR tokens(shorting) on the way up... The first one bought back in now and the second one is calling for 100k$ BTC.

Anyways even if you know what's going to happen, it's probably not helping you at all. So better be just ready to act on whatever the market is giving and playing the setups occuring in real time, opposed to trying to predict what might or might not happen.
 
Historically low volatility on both ethereum and bitcoin. Feels "back to normal", as if nothing happened at all.

Big moves are coming. I am more bearishly biased, albeit my bias is my weak point too.
 
orbit23 said:
So yeah. Bitcoin has gained enormors attention in the last days/weeks. Paul tudor jones, J.K. Rowling, Elon Musk, CNBC... and probably more.

Whether Bitcoin is bullish or not, is irrelevant, i think this is too much of an attention in a too-short of a time span. I believe Bitcoin will drop BELOW $6000 in the following week. What do you think?
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Uh - so, the very biggest names in 3 distinct areas - writing, Automotive, and trading - all expressed a positive Bitcoin sentiment to millions of followers, and your prediction is... drumroll -
Price will crash 35% within a week.
I'd say you need to flesh out your 'splanation, Lucy.o_O
cheers.
 
misterkel said:
Uh - so, the very biggest names in 3 distinct areas - writing, Automotive, and trading - all expressed a positive Bitcoin sentiment to millions of followers, and your prediction is... drumroll -
Price will crash 35% within a week.
I'd say you need to flesh out your 'splanation, Lucy.o_O
cheers.
More...
he did
orbit23 said:
I track 2 clowns, ....
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misterkel said:
Uh - so, the very biggest names in 3 distinct areas - writing, Automotive, and trading - all expressed a positive Bitcoin sentiment to millions of followers, and your prediction is... drumroll -
Price will crash 35% within a week.
I'd say you need to flesh out your 'splanation, Lucy.o_O
cheers.
More...

Paul tudor jones bought bitcoin too.

When i first heard of this, i immedietly thought of that Livermore story. Though i admit, bias got the better part of me and i was bullish right at the top "omg even paul tudor bought while everyone on ET is bearish", like a real pleb, even though i did get short signals for my strategy, but i did not take due to personal bias lol.

Back to the story, it was when Jesse Livermore had a nice long(or short) position in some commodity, i think it was cotton or something, and then the news came out that "The famous trader Jesse Livermore has Cornered the cotton market". Allegedly he had nothing to do with the news, but everyone fell for it and wanted to hop on the same side of the market as he was. The liquidity came, and he took the opportunity and unloaded his whole position at a best price with no slippage.

Any parallels to draw here?
 
Went through like 20 alt/usd pairs 3D charts. Oh my god. Everything looks so so so toppy&& bad.

I know that i could be wrong. But i would be very surprised if we are not at the top. I would give it 90% odds, if not more.

Also alts have been AT RESISTANCE for a fuckign whole month - 30 days. And low volatility. We are goign to crash hard imo.

What am i going to do? I have swing shorts open. Will be taking profits at areas where support is likely to be found.

But otherwise, i am focusing on shorts shorts shorts and then some more shorts for the foreseeable future. Go check your best shorting setups, memorize them, visualize them, and then when you see them happening, fucking click the buttons without mercy.

Shorting resistance is a big big edge imo.
 
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I don't know if we're going to hit the $6k mark in the the next 2 days, but I think we will definitely hit it soon.

We all know bitcoin's price relies on the bigger fool theory, and up until a few weeks ago, I thought we could at least get to $100k with some bigger fools, but after the early coins were moved, I think it's obvious, someone (not saying who) has access to a ton of early coins.

I think once we drop to $2k-$3k, we'll really see people head for the exits.
 
well. It might take 10 days, 10 weeks, months .... to reach $6k.

because there might be BTC II, BTC III, BTC IV, BTC V, BTC VI ....
ie supply is infinite compare with demand.
 
orbit23 said:
Went through like 20 alt/usd pairs 3D charts. Oh my god. Everything looks so so so toppy&& bad.

I know that i could be wrong. But i would be very surprised if we are not at the top. I would give it 90% odds, if not more.

Also alts have been AT RESISTANCE for a fuckign whole month - 30 days. And low volatility. We are goign to crash hard imo.

What am i going to do? I have swing shorts open. Will be taking profits at areas where support is likely to be found.

But otherwise, i am focusing on shorts shorts shorts and then some more shorts for the foreseeable future. Go check your best shorting setups, memorize them, visualize them, and then when you see them happening, fucking click the buttons without mercy.

Shorting resistance is a big big edge imo.
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Short term, bitcoin is a crap shoot, it may hit $6,000 as per the title, but in 3 months, I think bitcoin will be higher than $20,000, so by Sept 1, 2020.

The reason for this is that there will be a supply crunch problem caused by GBTC and there will be an accelerated adoption in the HF investments because of PTJ.

Grayscale Bitcoin trust only buys newly minted coins (newly mined bitcoins) so they do not buy a bitcoin that has been used in the darknet markets or part of a hacking incident. They've bought 33% of the bitcoin supplies in the last 3 months (before the bitcoin halving). Now the supply of the newly minted bitcoins has been cut in half.

"Grayscale Bitcoin Trust, or GBTC, an exchange traded vehicle backed with Bitcoins, has been growing steadily in size over the past several years. However, in the last couple of months, its growth has begun to accelerate."

In the last three months, the pace at which institutional investors have been investing into GBTC has tripled. If this trend continues, then in another three months, it will be holding 400, 000 BTC, and in another 6 ½ months after that — March 2021, it will accumulate around 550,000 BTC or 3% of the total supply.

Furthermore, if this forecast comes to fruition, it will imply that GBTC will be gobbling up 75% of all newly mined Bitcoins during this timeframe.

https://asiatimes.com/2020/05/institutions-are-aggressively-buying-bitcoin/

https://news.bitcoin.com/grayscale-buys-33-of-all-bitcoin-mined-in-last-three-months/

https://finance.yahoo.com/quote/GBTC?p=GBTC

 
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