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
Caleb Edwards
youre overthinking with this lads who bought for high prices never believed in bitcoin and already gave up we had 6k for months, prices just falling down, this game isnt for newfags, so they sold and will buy again when it goes up to 8k-10k
this. all the bitcoin scooped up down here is in much stronger hands
Eli Harris
Ok, but why $10k? If it can break the $6k resistance then there is no telling where it will go, could be 7k or 20k, so what makes you say 10? Also, it's a lot harder to pump something with news than it is to dump it with news. FUD will always be more powerful than FOMO. Hell all they have to do is rehash another story that China is banning bitcoin (for the twelfth time) and go on a stop hunt. To bait in fickle buyers is a much more delicate matter, I'm thinking we may have another year to wait for that.
Bentley Howard
im actually bullish, but you gotta recognize everyone shits their pants thinking of this possible scenario
Julian Martin
10k is a psychological barrier, during the bull it took a bit to break it
Angel Perez
>Mt. Gox recipients majority said they'd keep their btc as btc
Ryder Johnson
Definitely going to be some resistance there, I agree, but I think we will have to go up a little and then even lower again to consolidate for the 10k run. Could take a year.
Samuel King
Hard, real support - rock solid stuff - at $200
Logan Kelly
I agree with your reasoning, but 10k seems too high for a dead cat.
What can also break people's will is a prolonged boring low like in 2015. That one had two capitulations, one starting the low, the second ending it. So far this bear market is playing out in a similar fashion.
If they hit Market Sell button they might take BTC down to $100.00 - $0.01. Total Market Cap for BTC could end up 1 to 2 Billion market cap. Whales would be not manually selling the bots would be buying on the wick down around $1k-$800 and exhaust all buying capital. While small retailers with buy orders set for under that would make huge gains when it bounces after the MT.GOX funds are completely sold off.
Juan Evans
> "majority" if just one whale with 1000 BTC cashes out they all might just fomo down and out thinking BTC is going to 0 forever. ICE would love to set buy orders sub $100 to be filled to get those 800k or more BTC
Levi Miller
>during the bull it took a bit to break it
Not at all. It even was really surprising back then. Everyone thought 10k would be tough. Instead the price went through like butter, came back down below and then shot back up like it was nothing. It happened around November 29th last year. Almost a year ago..
Carson Collins
If it goes to 1k / 2k it might bounce but I really doubt it will reach 5k let alone pass that. Public interest is what fueled the price, that ship has long sailed.
Brandon Rodriguez
>Public interest is what fueled the price, that ship has long sailed
t. someone in 2014
Chase Bell
1. Going below 1k 2. No such thing as 'instant bull market'
Logan Hernandez
>Public interest is what fueled the price no its not you brainlet. we went from $200 -> $5k without public interest
Camden Harris
good one
it's whales whales whales and then more whales that move the market
whales get the market started, be it up or down. whales take it 90% of the way, and then normies come in for the last 10% ride and get caught with their pants down when whales reverse the direction
Isaac Bennett
Yeah because they were printing fake money. Tether happened.
