We are going to see big sell off on bitcoin (I believe)

in vincentb •  2 years ago 

There is always hard to predict prices of cryptos as it is very new market we are facing, however I do believe we are going to see lower numbers on bitcoin.
Anything can happen, however what we analysts can do is to predict with a certain % chance of success and that makes us rich if we can keep the % high. Noone is 100% correct.

So according to the technical analysis (bear market) and fundaments still supporting negative sentiment I believe we could see 8200–7800 USD levels and potentially even 5500–4800 USD per bitcoin before the market recovers and we will be able to see real gains again.

BTC.PNG

After the fall bitcoin probably is going to rise again to much higher numbers like 40 000 USD and more.

So I hope you have some capital which you are able to use to buy on these juicy levels and capitalize on the next bull run big time!

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Nice article domisun. Upvoted!
We are currently in a phase of market regulation and consolidation. The January corrections are rather good news for bitcoin and other cryptocurrencies (healthier and stronger fundamentals). This cleanup was necessary !

True

Exactly and that's just what we see right now. I mean Bitcoin couldn't just rise infinitely. That's what it is, a healthy cleanup after crazy big ride up. Even in FOREX we often have big moves cause of big boys only taking the advantage of the negative/positive news. That's what we see I am sure of it - as I will present in the coming post.
thank you for your reply @crypto-power!

Definitely some juicy buys will be available! I'll be buying a s..t load soon!

Yop smart move. I am with you on this. We are going to see crypto market skyrocket again @skytronia!

I think that it may sit and stabilize and may possibly rise a bit up to February 14th but might drop again on that date as the second closure of futures contracts expire with CBOE futures contracts close. Once that occurs, it might be another week of resettling. So I expect that from the 21st ( but I personally believe, from the 1st march) we will see a huge recovery and a major increase in the cryptomarket. So I will be buying as much as I can to improve my position on the coins that I believe in. I also hope by that time Tether and Bitfinex have both been removed by the US Government regulators from the Crypto space and that all the other coin exchanges have tighten up their security procedures to prevent future hacks (over $350 million as been stolen from several exchanges in the last 6 months). This also one of the other reasons the market have taken a dive. I think one of the exchanges last week was hacked to the tune of $50 million. Once this is all cleared up, the prices made return to all time highs! At least this is what I am expecting?

I think we will see Bitcoin going as low as 8000, and then new investors jump and buy to move the price higher again. I expect the market recovery by mid or late February. Basically when we see USD 750B market cap we can be sure we are out of the red zone. Which is + 50%.

We could see nice rejection of the 7800-8200 zone today. Whether we stop here or going lower is a question, we will see. I wouldn't be surprised to see the price going as low as 4800-5500 zone tho.
Thank you for comment @theben!

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