Bitcoin to fall off cliff?

[aceofspace]

bitcoin has become a thing of speculation

accepting it as an mainstream currency is farfetched if you have the basic understanding of the logistics that keep it alive

volatility is another issue and dont compare it to euro

[jessoprules]

Good point lol…….use of TA possibly and market sentiment.

[Clint]

[Falstaff]

I think with bottom fishing, one puts a worm on the hook and sits at the side of the river waiting for a big fish to come along, eat the worm and you can take him home for the kids to have for their tea

Bottom fishing here could mean you put your bank account on the hook as bait, the big fish comes along, eats the bait and takes the food OUT of your kids’ mouths !

[ontario]

It was really nice experiment on our society and game is over now, the price is heads to long-term equilibrium I think it is 100-200 bucks per BTC

[mlawson71]

In my opinion Bitcoin already fell off a cliff, Now it’s on the ground and digging itself deeper.

[purtle]

In my opinion Bitcoin already fell off a cliff, Now it’s on the ground and digging itself deeper.

I’m just here wondering and singing that Ludacris song… How low can you go…

[Falstaff]

How low can you go…

Dachshunds !

But that is an answer in a joke from a less “pc” time -

[baemax023]

[mlawson71]

Hahahaha that is perfect, thank you! I needed that laugh today.

[Falstaff]

At the time of writing, Bitcoin was just under the $6,000 mark,

Please go away and spam someone else’s thread.

We are watching what some of us believe to be the death throws of a historical bubble and really don’t need or want this out of date blather - Thank you

[elliottwaveforecast]

Short Term Elliott Wave view suggests that the selloff in Bitcoin is not yet over. Rally to $4409.77 ended Intermediate wave (X). Down from there, the decline is unfolding as a double three Elliott Wave structure where Minor wave W ended at $3210. Internal of Minor wave X unfolded also as a double three Elliott Wave structure, but of a lesser Minute degree. Minute wave ((w)) of W ended at $3861 as a zigzag Elliott Wave structure. Minute wave ((x)) of W ended at $4265, and Minute wave ((y)) of W ended at $3210 also as a zigzag Elliott Wave structure.

Minor wave X bounce is currently in progress to correct cycle from Nov 29 high in 3, 7, or 11 swing before the decline resumes. Minor wave (X) bounce is unfolding as a double three Elliott Wave structure. Minute wave ((w)) of X ended at $3633.2, Minute wave ((x)) of X ended at $3292.2, and Minute wave ((y)) of X is looking for $3715.4 - $3976.94 before the decline resumes. We expect sellers to appear from this area for further downside or at least 3 waves pullback as far as pivot at Nov 29 high ($4409.77) remains intact.

Bitcoin (BTCUSD) 1 Hour Elliott Wave Chart

[Mantleea]

I have decided to quit Bitcoin trading as I have lost much. I will only keep two coins for unknown time period as I still hope that these two coins will cover up my losses. Apart from it, I wanna say good bye to the Bitcoin market. Stay blessed folks!

[Falstaff]

Ey - Upp - It’s moved again !

[mlawson71]

It actually broke out above $8,000. I am curious how high it will rally before it falls like a rock again.

[callumxx5]

I think down from here, around $5500

[mlawson71]

Why do you think it will drop back to that level?

[Melvic]

The top dogs are just playing with the crypto market, buy and selling off anytime they want. It’s crazy

[callumxx5]

All major moving averages converge around that level

[mlawson71]

It seems fairly bullish right now, but there is always the possibility for a pullback.