Hi guys, this is my opinion of where Bitcoin will find stability. I believe this because I have been hearing the $8,000 price from many people, not just for the past few days since the crash started, but for months now. I believe this price will be a self-fulfilling prophecy and the whales may buy in around this price.
Let me know what you think in the comments. Where do you believe Bitcoin will find stability, or do you think it won't and this is the end for Bitcoin?
And as always guys, follow me and I will follow everyone back, let's grow the steemit community!
Legal Disclaimer: Remember this is just my opinion, not a certainty! Do your own research and analysis and make your own financial decisions based on your own beliefs.
I strongly believe for now Bitcoin is going to bounce between $10-$11k. However, if there are any more instances where Bitcoin is banned or a prominent news story comes out against it, we will probably see it drop.
Provided South Korea doesn't randomly come out and say, "Just kidding, we're banning Bitcoin" which would probably drop it down to $5k, I think we are okay.
I keep seeing/hearing the $8k figure, so who knows if it becomes self fulfilling. I doubt Bitcoin will die, we've seen dips far worse than this: like the China ban back in mid 2017. You can rest assured that the "big boys" are accumulating, this is the kind of wet dream dip traders have been clamouring for since we almost hit $20k USD.
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I don't know about you, but I think btc is getting quite old and rusty, especially next to so many flashy coins. I got into crypto, not because i was so impressed with btc, but because I was damn impressed with ethereum. What's the point of holding sentimental value to a currency that can't even compete?
Even if btc survives this year, what about 10-20 years down the line when the newer generations don't share our "sentimental value" of btc?
IDK. I don't see why people would be keep buying btc when other coins are performing better in matters of both financial return and functionality.
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Yeah man Bitcoin, in my opinion, is dead in the water in terms of its ability to compete with other cryptos technology. Only a matter of time before it eventually moves down the pecking order. Whether it will go back up for a while and survive this year, as you say, is anyone's guess but I am certainly not invested in it.
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Same exact thought. I am sure others will also catch on soon. Always good to be head of the pack.
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Interesting, what do you think will take the crown from BTC? Would it be ETH or maybe something like BTS? Or something new?
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That would be the question of the century. I have no idea. What do u think?
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Multiple factors at work, someone on Steemit had a good case for BitShares but similar cases can be made for several others. However there is also the 'Lindy effect' which I read from Taleb. Which sort of explains why despite all this BTC still will take a lot to dethrone. This covers what I'm talking about :
https://cryptofundamental.com/in-pursuit-of-lindycoin-212bacafc395
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i think of a price level around 5.400$... but who knows...
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