The Bearish Case for Bitcoin Pre-Halvening
In the interest of playing devil's advocate, I thought it would be worth presenting the bearish case for Bitcoin before the halvening that is expected to take place in May 2020.
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▶️ 3Speak
Louis, you are definitely playing devil's advocate.!!!
We are currently in a bull market for crypto currency, but going through a bear phase within that. As I said before, the current Bitcoin mining costs are $3,100 and with the halving they will be $6,200. So. if it reaches the latter level, then it will a excellent time to buy.
So, to answer your question - Where is the money going to come from?
It is already there, it's invested in bonds, equities, real estate, commodities, etc. Once these bubbles pop the money moves elsewhere into the next under valued asset.
Think of it as a 'Lava Lamp', the money flows from one asset to another.
Thanks, it is very much appreciated!
I like the lava lamp analogy
Bitcoin will rise again when:
The market goes into a hyper inflation, debt-driven panic. When will that happen?
Probably 2 months after the halvening
Cryptocurrency is the future!
With that in mind, you should always buy when everyone else is selling.
I myself bought more today.
But I'd like to see us do a better job bringing in normies.
They have a lot more fiat than we do to buy Bitcoin from speculators and weak hands.
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Yes, when everyone is yelling ( ie to buy) - you sell. When everyone is crying (ie selling), you buy!
Well put Tony Trillions :)
Interesting!
@tipu curate 1
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@louisthomas presently the price isn't encouraging at all but with time it will be awesome
Hey !?
How do you feel today ???
(+42% in just ONE day)
This is why I never go public with my crypto predictions :)
I think the price of bitcoin is currently at normal levels. The rise or fall of prices later depends on the market and the triggering factors.
we are in a buying zone price may drop further but in a long run we will will make good profit as bitcoin will go high for sure.
it will be bearish for sometime after the halving because of the decrease in mining power. Then the stock to flow will flip the sentiment to be bullish