it would be too easy if we go straight to 1-2k from here and then enter in new bull market
those that bought higher in the 9K-15K and have still HODLed would still HODL down to 1-2K since they're already down so much, "might as well go down with the ship" mentality, i.e., they're not go to sell
in order to get the most people to miss out and FOMO when mega bull market comes around is to give these people a chance to "cut their losses". i say we moon from here 4K to 10K, some of those that bought higher will "cut some of their losses" and as BTC goes back down from 10K they will continue to fully liquidate their position.
Once BTC hits 10K it will descend to 2K and that's when most people will give up hope and capitulate. "they just can't take another bear market downtrend after 10K anymore"
You make a good point, but I don't think whales could pump it to $10k with so much selling pressure right now. I could see something around $6k being the rejection.
Xavier Fisher
6 months at 2k is not easy
Jackson Thompson
6k was major support in the past, so it'll be major resistance now that we're below it It was like this in 2014 and 2015 as well
Lucas Thomas
they will try to paint 6K as strong resistance to get everyone to line up their stop-loss at 6001
however I think some "great news" will get BTC to break above 6K and cause people to FOMO and think bull market is back on
BTC 10K-12K top and resumption of bear market downtrend to 2k will break a lot of people's will
Wyatt Sanders
bakkt could be that "great news" to pump it to 10K early 2019, but I think the threat and realization of Mt. Gox recipients cashing out their BTC's after February 2019 will drive BTC down to 1-2K
David Lewis
yep this. then we will probably start a new cycle a few months after the halvening in 2020
William Clark
Just like it was too easy for it to go to 20k and give all the idiots who bought in october a 3x?
Luis Carter
or.. what everyone fears the most happens, even the bobos: a bigass drop to sub 1k (everyone fill their bags) only to slowly bleed to $100 and staying between sub 100 and 200 for years until finally going to 0. This would rek 99.9% of crypto 'investors'
Jordan Ortiz
Heh. Hope you kids don't get sick when we fly by $500
