I see a long term crash on bitcoin

in #vincentb2 years ago

I don't know but I still kinda see this scenario to play out.

Lets see, but I'd like to share with you guys again, funny way this time, what I believe is gonna be a current situation like, if we aren't going to find decent demand very soon.

26962094_1658396037516391_288661214979951346_o.jpg
(Just to be clear, I don't think it's gonna be just for February but a dump for multiple months at least).

What do you think?

PS. This post is regarding to my previous one:
https://steemit.com/vincentb/@domisun/cryptocurrency-market-grave-selling-are-we-done-or-not

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Love the graphic analogy.

I've been pretty convinced that we were headed for $6,000 for a while now, as this is where the only decent support is. Not many wanted to hear this when it was sliding from $19,500 to 17, 15, 13 but when we can not hold on to 10, its going to be very hard to keep the fragile traders in the trade.

Expect some acceleration and then a very complex recovery.

BTC is not likely to recover near as quick as the quality coins with a real future, there is no real reason to own BTC except branding.

Nicely said. I'm looking forward to the time some other and more reliable coin's gonna take over the market as bitcoin now. I mean, bitcoin has so many problems.

Thank you for the comment @bycoleman!

all the major bitcoin holders should switch to bitcoin cash and maybe the market will recover .Bitcoin cant handle the traffic . Maybe switching over will be like hitting the reset button and will also provide large gains

Well the problem is that everyithing is listed against bitcoin. I would like to see other currency on it's place and tha't also only a matter of time. However now we're heading down...
Thank you for comment @hyrolla!

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Es bueno que alguien vea cosas. tambien hablan del Bitcoin de oro

kosas vocas. Trochu rýmovačku z toho udělám, jelikož tomu hovno rozumím. lol :D

Hmm Perhaps, i think a lot of this has to do with the Asian markets experiencing a lot of challenges at the moment, in principle, i think all the money from that region is still "there" they have just withdrawn it while the dust settles, and when it does, i personally can see a bull rush as most would have pulled out high, meaning as the market is comparably lower, they will have greater purchasing strength into diversified portfolio options.

Personally i think once the Asia crisis is over, things are going to surge when the money pours back in, just like the passengers are going to surge when this Sydney Train Strike is over, check it out.

Personally I am looking forward to another bull run as well, of course!!
Thank you for your post @kashmirz!

Release the Kraken! You got a 2.87% upvote from @seakraken courtesy of @domisun!

This post has received gratitude of 0.93 % from @appreciator thanks to: @domisun.