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RE: Bitcoin (BTC) Evening Update: Could the Bottom be IN? Check out this Analysis!
I thought you recently said and reinforced that BTC could drop down to as low as $500-$1,000 based on the waves retracing. Is that opinion outdated with new information, or are you taking a step back from that suggestion?
steemmatt,
I think if you review Haejin's videos you'll find he's referring to a deep 3 wave correction following the final 5th wave up at cycle degree, which the market hasn't completed yet.
Do you think that when Haejin prediction of BTC drop to $500 comes true it could actually be because BTC has been dethroned as king by BCH (or other crypto) and that BTC would then never recover ?
Possible! But probable? Probably not.
hey haejin
what do you make of todays action ?
https://cointelegraph.com/news/bitcoin-classic-shuts-down-as-staff-claim-bitcoin-cash-will-rule-in-6-months
or the rumours that Roger Ver could dump 25k BTC
https://www.reddit.com/r/Bitcoin/comments/7cefom/roger_ver_just_sent_25k_btc_to_bitfinex/
I know you always preach news or an event will arise to justify the forecast - could this be what sinks BTC and ends wave V ?
From an entirely non-wave point of view, much has changed - that was a few weeks ago. Since then, btc has consolidated a lot in the minds of people globally, even he bitcoin cash conundrum today reinforced it as a haven of value for the future. Bitcoin is totally the thing and I can't see any danger of it going below 5000 USD, ever again, as we all expect an influx of institutional money soon - but that's my opinion. I wonder what haejin is going to answer, as he refuses to even acknowledge that institutions exist ;)
BTC will crash heavily after reaching 15k or maybe 30k. No doubts about that. When this happens, then the BIG money will buy in and we can see 1 million $ BTC everyone is dreaming about.
Anyways, it is just one of the possible scenarios, but this is the one i'm betting on.
EDIT: We are talking years, not months.
Still there, but we need to first top and that hasn't happenned yet.