A Bitcoin price crash is coming, analysts say. Nobody panic

#1

Post by euphemized » Mon, Nov 30, 2020, 11:28 PM UTC

A Bitcoin price crash is coming, analysts say. Nobody panic
decrypt.co

Re: A Bitcoin price crash is coming, analysts say. Nobody panic

#2

Post by maxharris » Mon, Nov 30, 2020, 11:35 PM UTC

I highly doubt this. My current expectation is something around $100k for a single bitcoin by late 2021. I am much more worried about a dollar crash, because something like 30% of all USD in existence today was created this year.

Re: A Bitcoin price crash is coming, analysts say. Nobody panic

#3

Post by bdcravens » Tue, Dec 01, 2020, 1:40 AM UTC

Of course there is. There always is after an ATH; it always crashes 70%+. In doing so, it'll reach new highs, and even the crashed amount will be likely higher than the previous high. The concern isn't that; it's those who get roped in close to the ATH out of FOMO and then lose substantially.

Re: A Bitcoin price crash is coming, analysts say. Nobody panic

#4

Post by bdcravens » Tue, Dec 01, 2020, 1:41 AM UTC

maxharris wrote: post #2

I highly doubt this. My current expectation is something around $100k for a single bitcoin by late 2021. I am much more worried about a dollar crash, because something like 30% of all USD in existence today was created this year.

Any reason to believe why this ATH is any different than previous ones? I can totally see it get to $100k. I can also totally see it crash back down to $30k. Some will still be ahead; many will buy in at $90k and be devastated, at least temporarily.

Re: A Bitcoin price crash is coming, analysts say. Nobody panic

#5

Post by maxharris » Tue, Dec 01, 2020, 2:11 AM UTC

bdcravens wrote: post #4

maxharris wrote: post #2

I highly doubt this. My current expectation is something around $100k for a single bitcoin by late 2021. I am much more worried about a dollar crash, because something like 30% of all USD in existence today was created this year.

Any reason to believe why this ATH is any different than previous ones? I can totally see it get to $100k. I can also totally see it crash back down to $30k. Some will still be ahead; many will buy in at $90k and be devastated, at least temporarily.

The scenario you describe sounds plausible to me.

Yeah, I do feel for those that come late to a trend, but can't shake the short-term mentality. I got big into TSLA in March, at the very last moment before it exploded upward. I'll move back into my parent's basement before I let those go...

Re: A Bitcoin price crash is coming, analysts say. Nobody panic

#6

Post by oleganza » Tue, Dec 01, 2020, 9:19 PM UTC

bdcravens wrote: post #3

Of course there is. There always is after an ATH; it always crashes 70%+. In doing so, it'll reach new highs, and even the crashed amount will be likely higher than the previous high. The concern isn't that; it's those who get roped in close to the ATH out of FOMO and then lose substantially.

According to your own words, even those who timed their FOMO badly won't be worse off forever - it's more like buying a computer for yourself right before the next one came out - just wait a couple of years.

If you are into bitcoin for short-term gains, then it's a casino either way - same as forex, but with more volatility. But trading it all back to USD with profit is not what bitcoin is for.