Everyone is calling for $40k, which is why I don't think it will happen
With everyone looking at the charts and those 30% pullbacks and where we topped out previously and that $40k number looks very juicy.
Everyone is talking about that number and talking about buying bitcoin there.
For that exact reason, I don't think it's going to hit.
Markets love to inflict the most amount of pain on the largest number of people as possible. They don't actually mean to, it's just the way markets and price tend to work.
What everyone is positioned for rarely happens.
Therefore, I'm calling the bottom here around $44k-$45k which is the same level I called previously.
(Source: https://bittrex.com/Market/Index?MarketName=USD-BTC)
We probably have a few weeks of chop ahead of us still but I could see us not going much lower than we already have.
Hopefully the freak out in the stock markets is mostly behind us and if it is we probably going to grind higher.
Did you buy the dip?
I bought a few things, so hopefully my thoughts here are correct.
That $50k number seems to be a magnate to me where the price will try and stay above with institutions buying there.
Posted Using LeoFinance Beta
I am in agreement with you, direct deposit hit my bank today and I immediately bought the dip. Good luck to you on your buys!
Posted Using LeoFinance Beta
Good luck to you @rob23 you made a good decision ......
I already bought the dip, and will be doing it every time!
Posted Using LeoFinance Beta
The market is ruthless, BITCOIN in the last two months has shown great strength.
Posted Using LeoFinance Beta
I agree with your outlook. I bought but wish it was a little closer to 44k..
Posted Using LeoFinance Beta
March seasonality probably a similar story. That was likely the dip from the tops we just saw - people front running that = priced in.
Posted Using LeoFinance Beta
35k would also make sense from the chart. So let's see what happens :)
Posted Using LeoFinance Beta
Looks like the lows are probably in at this point. What was the bottom there, $43k?
yup :)
@jondoe well if everyone decides to buy Bitcoin right now at the current price then it is good because that will make the Bitcoin price to keep rising back till the buyers stop buying on the market...