Make your vote, Bitcoin will hit 18K now?

[SoNewToAllShit]

after the thread was posted it already hit 17,7K then it went up. Now it is on the way down again.

 

[fortunespeculator]

That may eventually happen, but Bitcoin is an utter failure in its original purpose as a reliable and stable currency and a store of value. It failed its original intended purpose as laid out in its white paper.

Why do you say so- because it is going down like a waterfall??Enlist your reasons please.Even good stocks go down in a bear market so let me know your reasons.Getting everything right the first time is anyway a difficult plight,even though desirable so let me know the flaws that you see in btc, however if not btc some other crypto will do the trick,just like in the markets leadership changes hands.But crypto is here to stay.

after the thread was posted it already hit 17,7K then it went up. Now it is on the way down again.

Ya 12 k coming hold on to your horses

And I will keep doing that until there are btc available for sale at a decent price. That is anything below $1m.

So your target price for btc is 1 million,ok.

 

[ImKing]

Unless it is not. Don’t try to pick the bottom.

the good old advise!

 

[polonieth]

$11-12k my prediction for the low

 

[fortunespeculator]

$11-12k my prediction for the low

Ya absolutely

 

[Golden Fleece]

Bitcoin will bottom when the U.S. stock markets bottom. They are now correlated at 0.82.

Michael Burry first rose to fame when he predicted the mortgage-backed securities housing bubble of 2008. He was played by Christian Bale in the movie “The Big Short.” On Friday, he predicted that equities have only slid in value by about 50% of their anticipated decline so far:

In the second half of the year, “earnings compression” will put further pressure on stocks, which are only halfway under water, Burry said in a tweet, Bloomberg reports.

“Adjusted for inflation, 2022 first half S&P 500 down 25-26%, and Nasdaq down 34-35%, Bitcoin down 64-65%. That was multiple compression. Next up, earnings compression. So, maybe halfway there.”

https://www.newsmax.com/finance/str...=DM350165_07032022&s=acs&dkt_nbr=01010210cmwc
He is not the only major analyst to predict that earnings will be the catalyst that will drive the price of equities down even further.

Higher inputs costs and demand destruction from inflation (and the Federal Reserve's interest rate hikes) are resulting in margin compression for companies, pinching their profits. As a result, companies are revising downwards their future earnings expectations. So as Q2 earnings calls start happening over the next few weeks, expect a tsunami of these revisions to force Wall Street analysts to downgrade their target prices for many stocks.

Will this be the next big shoe to drop that will force stock prices down even further? It sure looks so.

 

[JohnnyDoe]

Bitcoin will bottom when the U.S. stock markets bottom. They are now correlated at 0.82.

The crypto market index CCi30 has a beta of 0.72 against SPY, so yes they are quite directly correlated, like most financial markets. More interestingly, alpha is 1.25, so it can be said that it is a better investment.

 

[fortunespeculator]

Bitcoin will bottom when the U.S. stock markets bottom. They are now correlated at 0.82.

Michael Burry first rose to fame when he predicted the mortgage-backed securities housing bubble of 2008. He was played by Christian Bale in the movie “The Big Short.” On Friday, he predicted that equities have only slid in value by about 50% of their anticipated decline so far:

https://www.newsmax.com/finance/str...=DM350165_07032022&s=acs&dkt_nbr=01010210cmwc
He is not the only major analyst to predict that earnings will be the catalyst that will drive the price of equities down even further.

Its good if the second leg down gets a catalyst like this.

 

[CoinMaster]

You were all WRONG, wrong, so wrong.

Now it got back to above 22K still going up!

 

[backpacker]

You were all WRONG, wrong, so wrong.

Now it got back to above 22K still going up!

It went down to below 18k. That is what the thread title is about.
What's the value of a short relief rally when the worst is yet to come?

 

[EliasIT]

What's the value of a short relief rally when the worst is yet to come?

do you believe that it will going to be worse compared to what we already have seen?

 

[Golden Fleece]

do you believe that it will going to be worse compared to what we already have seen?

It is a high probability, because the stock markets will likely continue to decline (as the Fed raises interest rates and we enter a recession). Bitcoin is now correlated to the stock markets. As investors deleverage during a sell-off they unload everything. And they sell speculative assets first.

BTW: This week, even gold finally went negative for the year -- after it held fairly steady all year long. It was one of the few assets classes that had gained value or stayed neutral during the first half of the year.

 

[SinghCapital]

do you believe that it will going to be worse compared to what we already have seen?

I believe the bottom was in at 17k. We will be heading up from here. We have been adding to our positions across the board during this dip.

 

[fortunespeculator]

You were all WRONG, wrong, so wrong.

Now it got back to above 22K still going up!

Did you make money?? Based on us being wrong and you being right??
One rally in a bear market doesnt make anyone wrong who are bearish on crypto(BTC) in a bear market,we had such rallies in 2008,it happened in 1907,it happened in 1929 also- Goldenfleeces analysis is bang on( even though i personally don't like to be a blah blah fundamentalist,and price action is the most important thing for me alongside the hypothesis) we are playing a game of probabilities here.
You should always make your play keeping odds in your favour.Can you win everytime?No.But you will be a net winner- that should be enough to be a Billionaire trader.

And as Soros said ,you need to identify trends whose premise is false,ride it and step out before the false premise is discovered and discredited.

The last guests in an ogre's party are always eaten alive.

 

[Goranizmir]

In this situation, nobody knows.

 

[fortunespeculator]

In this situation, nobody knows.

Lets see after 23 rd July

 

[boomy]

now all crypto is going up.... BTC crossed 22K ETH 1,4K which it didn't do the last 2 months!

 

[JohnnyDoe]

now all crypto is going up.... BTC crossed 22K ETH 1,4K which it didn't do the last 2 months!

It’s a false uptrend, a bull trap built over a bearish flag. Bitcoin will go to zero or lower.

 

[backpacker]

It’s a false uptrend, a bull trap built over a bearish flag. Bitcoin will go to zero or lower.

Where irony meets reality
https://www.cnbc.com/2022/07/18/crypto-miners-moved-over-300-million-of-bitcoin-in-one-day.html

 

[Golden Fleece]

Where irony meets reality

I liked this acknowledgment of reality, though:

“We mine and earn or produce bitcoin, but our costs, expenses, and liabilities are in dollars,” said Levitt.

“I thought we’d be buying our ham sandwiches with Bitcoin by now.” Satoshi Nakamoto