My BTC Price Target - I have no Target - But I Have a Rule to Sell...
Comparing the BTC price charts from the start of the 2016 bull market with today I see some serisous similarities in the price action. Assuming the exponential nature of growth continues in a similar way, I have used some interpolation and have decided that I have no idea what price I will sell my BTC at. I have no idea what price it will get to.
I do however have two rules that I will follow which will be the basis upon which I will sell a large portion of my BTC. Here they are:
- if the BTC price moves up by more than 30,000 USD or 15% when over 100K USD per BTC in a 3 day period
- if the BTC price moves up by more than 50,000 USD or 25% when over 100K USD per BTC in a one week period
Let me know in the comments if you can work out how I came to these conclusions... Upvotes for the best suggestions :)
@starkers I have no idea how anyone can work them out like you said, but I am guessing been the man you are you know what your talking about.
Or maybe it is the medication the doctor has me on is why this all makes sense. :D
i am however organising a meet up in sheffield if you could make it. I hope you can as I would like to see you again buddy. i want dillan to come too if you get a chance to message him that would be great.
until next time steem on my friend :D
Hi @starkerz good to see your ideas on this: I’m guessing that you have seen a historic pattern that bitcoin has a significant fall (perhaps in 2018 start of the bear market) soon after either a fast 15% increase in price over 3 days or a slightly less fast 25% increase over 7 days. You are suggesting that the final significant increase marks the end of the bull run and time to take profit. Your also suggesting the next bull run will be 10X minimum but could it do 20x?
I don’t quite follow your logic on the monetary value versus % though (ie the 15% part of the rule might kick in before the 30k increase) and so why you wouldn’t just set your rule as a percentage: so I’ll be keen to hear your logic later.
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No one know and that what make it so interesting, I do not think we will see new all time high soon I think the market will stay on ~10k for some time now and we will need something big to happen to take it to next level
I'm holding my bitcoin for long term and wait it's will be 50k
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I should probably try and get hold of one of these Bitcoin things you are talking about. 50,000$ in a week once above 100k USD, damn!
Not sure if you caught it, but I'm back in Nottingham after 3.5 years away. If you are in the city we should grab a beer and talk Steem!
Sounds like a plan! I’m around notts from time to time! Would be great to catch up!
@starkerz nice article , but I am seeing some over buy here and will go down slightly to 9800 then it will again rebound to 12000 and more let see this week how it goes. :-)
Can I ask you something . Are you interested in small steemit project , without any investment , but definitely you will be benefited with this project as it will highlight you in steemit. You can find me on discord adityajainxds#3203. Just listen to the project if you like you can join else no problem.i can explain you here also in the comment. Thanks have a nice day.
interesting times ahead for the bitcoin still looking so bullish
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I don't really have an idea about how it works since I am not that good in crypto trading or predicting but I believe you are just sensitive about how low it will drop after falling and falling
Did it have anything to do with chicken livers?
Dear @starkerz
I just decided to visit your profile and see if you're still active I don't remember seeing you around lately.
I really hope you didn't give up on Steemit yet. It has been quite a while since your last publication.
If you would ever decide to come back and would post anything, then please send me link via memo and I will gladly check it out.
Yours, Piotr
hey man! its great to see you around here! I am active every day! just super busy and have not got much time to post. 110% steeming tho! all the time. making great progress on @threespeak, @agfacademy, @oracle-d, DCORE, @steemba and the delegation committee. busy times!
Hi @starkerz
I'm glad to know that you're still fine and didn't give up on Steemit :)
Have a great monday ahead :)
Piotr
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Bitcoin, along with any cryptocurrency, is hard to figure out. There is a lot of volatility which causes huge swings. Get on the right side of the trade and profits can be reaped.
It is amazing how we evolved from the days of pure speculation. Now we have some more fixed income ideas such as HBD in savings. This allows one to enjoy the security that comes from the base layer of the blockchain while also receiving a strong return.