[0127] - Boy Genius Predicts "Bottom of the Market" for Bitcoin

I'm going to do something you should never do. Predict the bottom of the market.

I have pondered the current "Bitcoin crash" for days, wondering when the bottom of the market is. It's hard to see the end isn't it? What will cause the market to change from it's current nosedive?

I have written about it several times today on my blog so you may want to check out my mad reasoning there.

To be honest, I think we are at the bottom of the market now. And are wandering around on a solid floor with nowhere further to fall. I also think that the $400B ( or close to it ) market cap is the "invisible line" that the market just can't cross.

The reason I say can't is because the current adoption rate and actual industrial use of the blockchain is priced somewhere in that vicinity. Somewhere near that figure.

Dear Sher.png

If the current crash were the result of a major hack of the blockchain itself and the tech proved to be highly flawed, then a crash would be warranted. If the blockchains major selling point of a distributed ledger proved to be baloney, then you would expect a mass exodus from the market.

That would warrant a sell off. But the current crash is not based on some massive calamity. It's based on speculation and news reports.

While the news media is busy gloating about the fact that Bitcoin is plummeting in price, they fail to factor for the value that the blockchain has already added to industry. Let alone what it will add in future.

So a "zero dollar" value for Bitcoin is absurd given the application of the tech so far. That's like saying that Apple stocks could fall to zero when the company is still running.

No, sports fans, hold onto your hats. I think we are in for a big surprise. Here are more of my career-ending predictions about the current crash.

The "bottom" of the market for Bitcoin is between $350 & $400B USD. No lower. Industrial use & reality won't let it fall further.
When everyone figures out that their precccccious coins can't go to zero, then there will be a massive swell of confidence. And a massive buy up.
Prices will spike, overnight. Expect to see your coins 150% in the day, so don't wait too long to buy them.
Ethereum will hit an all time high, +20%. Not explaining why. It just will.
The news media will be shocked at the market bounce back. Egg will be on many a pundits face.
Bitcoin and the market cap will inflate to a new all time high +10% soon after this crash. The crash and resurrection will only draw in more investment money. Further swelling the market.
Sentiment will be that "bitcoin is resilient money". I.e. A crash and bad press can't even kill it.

As mentioned, my theory of a $400B floor may be out a little in price, but the basic premise is sound. Reality will keep the coin market afloat. No matter how much downward speculation is thrown at it.

While the coin markets may continue to fall, I am willing to going "all in" on my hunch. Chips on the table.

Quite frankly, I don't second guess my own leadership and am quite willing to fail following my own lead. As I don't see anyone else in the crypto space putting forward plausible scenarios for the bottom of the market, I will make up my own. Let's see how I do.

Thanks for watching,

Brendan Rohan - Indie developer of 'next gen' natural medicine from Melbourne, Australia

Www.Skyflowers.co ( see "botany" tab for the plant research )
Www.ClinicalFlowerTherapy.com
Social @iSkyflowers
YouTube Skyflowers.Tv

If you support natural medicine and an independent research project that began in 1997, then steem me. The creds I get will help me provide a solid body of information that future generations can build upon.

DISCLAIMER: This article is written by an amateur investor and is offered purely for information purposes. This is not financial advice and you should always seek the advice of a finance professional.

Sort Order:

Trending

[-]

nzfxtrader (52) · 7 years ago

Excellent piece of writing and solid theory! The media is pushing the fear to 'force' the weak hands out of there positions. Meanwhile, the big dog has enough liquidity to buy it all up on the cheap!

Upvoted & re-steemed

$0.00

skyflowers (47) · 7 years ago

Thanks. I have been thinking about this for quite some time and the latest "crash" exposed a couple of home truths.

newageinv (70) · 7 years ago

May not be there yet but your analysis makes sense. No one truly know the value but I agree that ultimately the market will realize the value and establish a base. That will be when you need to be in the best assets in the class.

Totally. I thought I would have a crack at predicting where the "invisible line" is. Crypto channels are talking about staying positive and holding on, but not the fundamental reason why. I.e. That the blockchain is growing in value. I told a friend of mine that we would see a hard bounce off the $350B but a quick return to $400B. Sure enough, last night it did. I don't get the feeling that it will go lower. Sideways maybe, no I doubt there will be another plummet.

The forces of speculation ( fantasy ) vs industry value ( reality ) are colliding. This is a new chapter for Bitcoin as "resilient money". Which the news channels won't like.

beyonder (49) · 7 years ago

I love how you're saying it'll never go down below 300 because the haters keep dreaming it'll just cease to exist somehow.

The market can't fall below something that is increasing in value. I find it amazing to watch the financial gurus make up arguments that it can. The market is probably going up by $1B per day in baseline value, at the minimum.

$0.11

1 vote

araneobit (25) · 7 years ago

Hello, we are Project Araneobit - money transfer system based on the blockchain. The Commission for money transfer is set independently.
You can invest money