Bitcoin: No need to panic. Price is where it should be on the “S” curve. $100’000 in 2018 still expected.
So an exchange in the Czech Republic gets hacked and the end of the bitcoin world has arrived?
With Bitcoin and other crypto currencies crashing by 30 percent to 50 percent today we can expect a slew of newspaper reports tomorrow listing various so-called “experts” who allegedly called or “forecast” the crash.
When reading about the “genius” of these so-called experts I strongly recommend that you check when they made the forecast of a crash.
For the most part they probably forecast a crash long before bitcoin even got close to $8000. Right now it is still trading at 50 percent above that level.
With bitcoin in the $11’000 to $12’000 range, the price is still 10% to 20% higher than it was at the beginning of this month.
Many of the sellers of bitcoin now hold cash. Have they left the bitcoin space forever? I don’t think so. Unless it was money for Xmas, they’ll be back tomorrow looking to make their money work. Bitcoin will rebound. It won’t get near the previous high though. It will take a few months to break the previous record.
Some of you may remember the month by month price forecast I gave in July. We are not out of line with that. The year end forecast was a little higher than $10’000. Some people derided me for the crazy year end forecast. “Do you honestly believe bitcoin could reach ten thousand this year? That’s way too optimistic. Maybe in 2018 or 2019?”
Here is the chart forecast I presnted back then. Virtually every month end has been close to the target. It looks like December will be correct too.
For those who want to take a longer term view, below is the long term price forecast. I updated it in early October 2017. Nothing has changed. Therefore the forecast of a $100’000 price in 2018 still stands.
risk warning
The price might fall and you could lose all your money. The above opinion is just for amusement. It is not investment advice.
Well, friend, you did not make mistakes in your previous calculations, I remember it very well, I think we should not worry, keep investing and wait, as it will increase little by little until reaching the expected goal! Good job, friend, greetings!
Hi @swissclive,
as you told:
I fully agree. As i wrote in some other posts (sincerly not so competent as your) this is not the moment to panic but an opportunity to increase the investment!
It's usual at Christmas time that many big fishes close out positions...
Pre-christmas sales?
P.s. i mentioned you in my 100 DAYS on steemit post ;-)
You, my friend, are an optimist! lol In a perfect world, your prediction is indeed possible. You can make a very strong case for those valuations and we've already seen that when it wants to go up, there's not a hell of a lot that can stop it. That said, there are definitely going to be some serious speed bumps along the way before it gets there. The biggest being, at this point, that they need to get their shit together on fees and transaction times. If they want to be the "gold" standard then they need to get their tech figured out.
Your comment on the "geniuses" though is spot on. These guys have missed out on hundreds of percentage points of gains while waiting for the "correction" to hit. And I agree, chances are this drop didn't take them anywhere near to where they started predicting it to take place. But, heaven bless them, we need them. Without the naysayers, this thing would probably just blow up completely.
In the meantime, we'll just keep Steemin On. Both here and in the markets. Nicely done again! 🎅👍 <----I found the emojis today. :-)
I do remember your chart and to be honest when bitcoin nearly reached $20000 I thought your chart is useless and bitcoin will reach $30000 by the end of this year.
But here we are again and your analysis are fitting perfectly now.
P:S I downloaded that chart image to show my friends what future holds for bitcoin.
it is thought incredible you friend words so neat and very meaningful for all users Steemit @swissclive
thank you for this information, very useful post, good job ;)
Which bit did you find informative?
It's crazy.... how is it possible that spammers reach this reputation level? My reputation is 55, yours 59 and we are both users who write quality posts and comments (you do, I'm trying to..).
I think there's something wrong about reputation calculation..
Its possible he is using a bot that makes a thousand comments a day, only needs a small percentage of up votes to increase rep, he may have also been on a while.
But yes it is sad that there is so much of the reward pool going to spammers and scammers when there is so much quality content on here that is undervalued.
Fully agree.
I would have already flagged him but its not my page and don't want to interfere with how he wants to handle his own page.
Its pretty easy to spot the spammers, especially when you comment back to them and they never respond....lol
hahahaha sadly true :D
hahahaha caught red handed!
if bitcoin does the same performance of 2017 it will reach $ 250,000 in 2018 and $ 4000000 in 2019
compute
let's take 1000 dollars December 2016
$ 16,000 December 2017 be 1600%
December 2018 $ 16,000 + 1600% gives a price of $ 256,000
December 2019 $ 256,000 + 1600% gives a price of $ 4,096,000
the current production of bitcoin and the current adoption of bitcoin in 2017 is 1% bitcoin produced against 16% who adopts
the bitcoin will stabilize when a satochi will reach 10 dollars it will become stable like gold
then a bitcoin will cost $ 1,000,000,000 and the satochi will be used for transactions
as well as the lite-corner and the doge-corner that will make the conversions
bitcoin is not a bubble nor a ponzi pyramid
because to buy bitcoin you have to have someone there who will be selling
and there is a production limit
the problem of bitcoin is that in 5 to 10 years the bitcoin will cost too much
While some are waiting the Bitcoin to reach 100k, others are waiting for Ethereum to reach 10k. While some of us are optimist others are cynics and still don't believe in the blockchain success. Of course, it is still high risk and the market proves it, but once it will get confirmed all those that criticized it would need to hide as they were on the bad side of the history.
So it's time to buy and be in the btc game ;)
i think you are right dear @swissclive
So I have decided to flag you @shahin24. (See reasons below). However, I. Will give you one last chance. Make a meaningful comment about my blog, or if you prefer tell me why you think people hate comment spam. I expect more than 6 words this time.
Shahin24 I am about to issue you with a red flag for comment spamming. See below. To save your reputation, let me know why people hate comment spam, and what you thought was good about my blog. More than 6 words would be appreciated.
Why do you think I am right. What are your comments on it?
Exactly its so obvious. I do the same thing and rarely get responses. These people need to start getting flagged.
LOL and there I was thinking this poor boy has some deep and mysterious theory about the future that he is just begging me to tease out of him.
But now I look at his other comments I see they are all very short, with many “thanks for sharing” and say nothing about the topic under discussion, so I start to suspect that he is... God forbid.... some kind of spammer, hoping to get attention or votes.
Maybe I can get his attention with a flag... let’s see.... he has a score of 46. That’s too high for someone who writes rubbish comments. On the other hand, his mother tongue might be Hindi, so I can’t expect him to write me a book. What kind of flag? I know 10% or 20% will do nothing. But 100% would be too much for a first offence with me. I will issue him a final warning and decide whether a flag is justified based on his reply (or lack of)
Yes, well if he doesn't speak the language he should learn it or make comments on posts that he does.
The point is he is not adding anything, starting a conversation or contributing. Its just taking space.
I didn't flag him because its your page and wouldn't flag people on your page unless you asked. if you want I can flag him for you but otherwise will let you handle it.
I think you are more than fair and I am glad you take an honorable approach. though as you begin to get more popular on here (as it appears you likely will) you will get more and more and more of this and get tired of having to respond to them all before flagging.
Either way good for you for learning the ropes, asking questions and being fair.
Best Regards.
You are still awake... LOL it’s 4:34 AM here. Silent Christmas night except for the tinkling of some little bells. I wonder what that could be?
hahahahahaha its probably Rainbow Unicorns Playing you a jingle!
Yes I am still awake, not on your side of the world. So its more like YOUR STILL AWAKE. haha
My language is not english but i do my best to write and learn a new language. I think that if you want to comment english posts, you have to write in this language. Otherwise, there are hole communities for any language (recently I discovered italian community), I think they could write there!
About flag: I think it's not necessary to flag at 100% (except in duly justified cases) but in your case @swissclive simply at 1% (considering your Steem Power). My flag are at 3% and the reactions demonstrate that it's enought to frighten spammers.