IMO, it hasn't really pulled back enough, and has been awkwardly floating above $30k for too long. Hype has been sustained for an impressive length of time, but at some point people will get bored and buyers exhausted, then normies will get burned and it'll be 'dead' again. I understand many of you feel different, but for those that don't, when do you expect sub $25k prices again? I've been waiting to buy back in sub $20k personally. I know many of you think that won't happen, but historically speaking 80% retracements from ATH are normal. What do macro trend traders) you guys think?
To the Macro Trend Traders
Robert Wood
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Parker Williams
$12-15k is my target BTW. That's where I feel BTC is a good deal once confidence dies.
Noah Rivera
i think if we see 20k again we'll probably also see 10k and for years
Alexander Richardson
That's closer to how cycles have normally gone. Do you say this is likely to happen?
Henry Fisher
>historically speaking 80% retracements from ATH are normal
80% retracements from ATH were normal when institutions were not invested. Now they are and you will stay poor
Matthew Harris
they were invested in 2017-2018 too
Lucas Parker
Thanks
Julian Nguyen
at
Matthew Rodriguez
80% drops are caused by panic sellers thinking this time crypto is totally dead forever
Just how many times do you think the majority can fall for this?
Hudson Smith
fair. but i still feel like a sub $30k correction is in the cards, which may trigger panic and further drop.
Christopher Barnes
> I know many of you think that won't happen
All bets were off when the May “crash” turned into a new ATH in a few months. Two ATHs of 60k+ within months of each other is ridiculous. If you’re waiting for a proper crash you’ll be waiting for a long time (and it may never come).
Asher Martinez
>If you’re waiting for a proper crash you’ll be waiting for a long time (and it may never come).
This has been my opinion since the first new ATH in April, but it's looking more wrong everyday so I'm reevaluating as it's getting bullish yet again. I am patient however, and have conviction a proper crash will happen, so IDK.
Juan Nelson
I've just been waiting for everyone to think it's dead again, but maybe the 'this time it's different' memers were finally right. It was the perfect storm for crypto anyway (work from home, stimulus checks, fiat doomers on MSM, etc). But I also think this sentiment may be relatively short lived as we exit the scamdemic.
IDK, I've been waiting and investing elsewhere as I've felt risk is too high, and I'd way rather re-enter during mass suicides then right now, but it does feel like I may be waiting forever.
Kevin Peterson
Forbes just told everyone to go buy bitcoin now user
forbes.com
Ryan Nguyen
The trap has been set.
Ethan Wright
alright i’ll bite, whats the current timeline for a sudden drop? Post superbowl?
Aaron Lopez
If you follow TA fags they say most of last year was a big consolidation phase, finding the tops and bottoms of the current market. BTC did hold a higher low than it did over the last summer after crashing from ATH. Theory is we are primed for a big pump after holding a higher low as support and its the foundation we need before 100k can even be considered.
Just a theory and not mine, but an interesting one.
John Reed
>superbowl
dude
Kayden Sullivan
We didn't have a blow-off top, why do expect a blow-off bottom? This time is different
Jackson Brown
>forbes.com
That's such fucked up advice on such a volatile asset that can experience such violent drops in a time when so many are unemployed, lmao BASED
Blake Richardson
kek yes thought the same
fuck it
Lucas Gonzalez
>$12-15k is my target BTW
that's not going to happen. there are just too many slurpers. btc at sub 30k is a no-brainer so it would take something truly apocalyptic
btc dipped below 30k in may partly because of the mass sell off occuring in china, where those fund where redirected into non-kyc defi protocols to avoid the china ban
the sell pressure we saw in the last few months was driven by the anticipation of rates increases - so you could say that has now been "priced in" and there really isnt any significant sell pressure as far as i can tell
it does seem like 2022 we will see new ath, as there are not really any major fud events in the pipeline and we are going to see rapid economic recovery post covid restrictions
Brody Barnes
TA fags are permabulls though. Something about human brains make us this way, IDK why. Discussions would be more interesting and markets more rational if people weren't so directionally biased
Jack Hughes
what was that mega bank that estimated that the fair price for BTC was 35k? I forgot, was in the news yesterday
anyways, "traditional" money is not going to let it go under 35k ever again