RE: #30 - My Prediction - Bitcoin to Bottom out at $1,200 (60% drop from peak) on and in around 20 August 2017 (Other Crypto's will lag BTC)
I know you put a lot of thought into your post and I respect that......however you are comparing the cc market which is in it's infancy to established markets. You are trying to put logic where there is not yet a basis for logic. The BTC market may have went down 30%, but to average that at 1% per day and then "logically" expect that to continue is not reality. BTC will continue on whatever path it is on leading up to Aug. 1st, but on or around there, there will be some resolve to the scaling issue and after that BTC will rise. As for other cc's some may go away, but again it is way too early to start predicting that they'll start folding up this year. And last, if you think the dev's that are working to make and keep this a decentralized market will all of the sudden turncoat and start working for the banks......well, with all due respect, you really need to learn more about this market and the people that are pouring their heart and souls into it.
@spicyer thanks for the reply, it is helpful and constructive. Yes, there are many things I don't know about this market, I only joined it 10 days ago.
Where I get my information from is actually from research, from the people who know this market better than me. I could well be wrong, as the saying goes "the proof is in the pudding".
Just trying to add value to this platform and stimulate conversion on where this crash it going. What I would say, this market is a market and markets are based on human behaviours, will the technicalities of the situation have evolved the humans have not.
With regards to the turncoats, your logic comes from the point that you are in the position of the miners and developers, it is not practical to think you under stand the situation of each person circumstance.
Your reply was well thought out and written, I would like to hear more from you.