BTC at $2955 is SCARY realistic.

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
$2995 is the strongest-lowest support for bitcoin . Articles are appearing on the web saying that $2900 is not out of reach for Bitcoin before we see parabolic moves again. Comparing BTC to charts such as the "Psychology of a Market Cycle", we are not at the bottom at all.

This was picked up by our "Auto Support/Resistance Lines" indicator at Seems like we're not the only ones who see this as a possible move. It's a huge dip but also a gold mine of a buying opporutnity.

Are we nuts? What are your thoughts?
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I agree with the support levels although we cant only base our decisions on that. Following history repeating itself, we could have a turn around at 3500 based on a 85% retraction from the 20k high much like we saw in 2013.
@reuben161, that's a great perspective. I think $3500 is a strong support as well and if BTC goes that low I think a lot of people will start going long since we are then so close to the bottom. Thanks for the good input!
All it would take is an exchange like binance to get compromised, tether to get banned or some black swan event and $3000 BTC could come quite quickly!

The 2017 bull rally was dependent on new money coming in from an ever increasing supply of speculators; Since December, Bitcoin's three month bear market is not attracting new investors at any great rate and increasing regulation and taxation fears are making it more challenging to enter the market. The bottom could well come soon, but many charts indicate we are not there yet!

On the other hand, there are some great crypto/blockchain projects that are quietly making some pioneering developments and attracting big institutional interest, so over the longer term we may see some alt-coins jump dramatically as collaborations and partnerships are revealed - imagine the response if Apple announced it was opening a new istore on the Lisk platform?!
@AesopsHare, great assessment. We agree with you that the alt-coins may jump dramatically. Thanks for the input, this was a great educational comment.
reuben161 AesopsHare
@AesopsHare, are you giving us a hint? ;-)
AesopsHare reuben161
@reuben161, Just trying to start an unfounded rumor to get the price moving higher! ;-)

Lisk is a great platform as it supports Java (one of the widest used programming languages), but there are also a number of other great platforms competing in the space, some of which could potentially 10x in 2018.

However as @TradeIndicators highlights we are still in a bit of a bear market, so determining an entry point for buying long seems to be the challenge - hopefully all the charts on tradingview help us find the right path!
its cost over $8k to mine a bitcoin. its not going
ll21LAMBOS21 ll21LAMBOS21
@ll21LAMBOS21, to 2k*
ll21LAMBOS21 ll21LAMBOS21
@TradeIndicators , cost of production theory of value.
cankarako ll21LAMBOS21
@ll21LAMBOS21, That argument is wrong. It may cost 20k or 2k. If less people mine it will cost less. Nothing is ceirtain. Miners made more than %1.000 in their invesments just like investors recently. Buying a minor you can start to profit less than 6 months with the current prices. That is insane. What kind of an invesment yields that kind of a return - that quickly? For all I know this could be the beggining of a bear market. Most minors could be out of buisness. This doesn't mean btc will die. What do you think will happen when all btc will be mined? Think about that before commenting.
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