Bitcoin - Where Is It Going? My Opinion Without a Crystal Ball

The price forms a bearish pattern again. How many times the market gave us signals that the correction is over and the price is going to continue the uptrend? Every time after a short term upward movement, the price could not pass through the important resistance levels. The market formed bearish patterns and dropped again and again. The news supported the bears every time when the market tried to return to the uptrend. It could be a good time for talking about manipulated markets, but I would like to ask you more important questions. After amazing upward run in 2017, when millions people were interested attracted by a new word “Bitcoin” and new opportunities to make a fortune quickly, do you still believe in Bitcoin and it’s bright future? If we don’t see a bullish market for several months or may be several years, will you lose interest to Bitcoin? Will you be disappointed?

Please, share your thoughts in comments.

P.S. I would like to share my opinion about the Bitcoin's future. As we could see, the previous year the price moved upward because of new people who invested in this market. Big players invested in Bitcoin and it was a good support for the market. The previous corrections were not so long as we have now and after falling we got a quick price reversal and new ATH . This time, we have other market conditions and less people are interested in crypto. It's not good for Bitcoin and for other cryptomarkets. If the downtrend continues or the market moves in sideway for a long time, Bitcoin and altcoins holders will face with new reality. Cryptomarkets won't be so interesting for investing. Big players will move their capitals to other markets. And probably cryptomarkets will return to the levels of 2016 year. The reputation of Bitcoin will be destroyed.
This is my opinion. What is yours?
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my humble opinion that the price of bitcoin is now finishing wave 2 on the Eliot and will soon be released on the 3 long wave in the 42K $ area and at the moment we see a standard growth compensation.
Mr. Lavrov, most of the potential set-ups we see....they fail. If failed set-ups make you think the market is manipulated, that is emotion, not cognitive analysis. I like your analyses, but what you wrote about failed set-ups and manipulation comes suddenly from nowhere and seems to me like 100% emotion born of disappointment in your failed "set-ups". BTC is entering or soon to enter a 5 of 5. After that will come the 90-95% correction. Then after that will come astronomical profits for those of us who buy at the bottom area. Worst case scenario is that BTC already hit 5 of 5 in December, and in that case the end of the 90-95% drop is coming sooner rather than later, which is good news. Gotta think long term, and long term in cryptos is super short compared to the stock market. Just takes a little patience. A *little*. (Cryptos move in log, not in linear!) ....Your sudden negative point of view is typical of bottoms, typical of weak players. This is exactly what I expect at bottoms.
Manipulation? This is a normal correction. When the larger degree correction comes, it will be a 90-95% drop, probably. (Cryptos move in log, not linear.) Virtually everybody will be saying cryptos are dead, and "manipulation" talk goes through the roof at such times. "I am losing money" = "manipulation". "The market is not going up as fast as I want" = "manipulation". "I don't see green candles every single day" = "manipulation". This is the talkl and emotions of the 90-95% of traders who are weak hands and who sell out -- selling their assets right into the hands of us traders who are 100% cognitive, with no emotion, and prefer assets when they are hated the most.
I don't understand how you and so many others can lose interest in crypto in a matter of weeks...
+1 Reply
As you know the marketcap of crypto is still so small in comparision with forex or stock market. It is so easy for big boys to manipulate the market to make easy money. I do not think the whales will move to other financial market at this time. They have just been waiting the best time to comeback
I agree with your opinion. In fact the manipulation is true, i think on one exchange. And you know which exchange has to manipulate when they can make money. leverage crazy.
I have the exact same schedule you have, bitcoin going up. But everytime its being stopped(manipulated). For the altcoins it will be good to go solo and not pairs with another coin.
Because the altcoins have no chance when bitcoin drops or go up fast.
money78 Allec
@Allec, I think it's Bitfinex that manipulating the market!
Allec money78
@money78, yeah and bitmex
A lot has changed since 2016. The heavy hitters and real whales have just recently really taken notice and positions. Not time to throw in the towel quite yet.
+4 Reply
A longer sideway correction will be a good opportunity to trade and gain in crypto assets.
After that we see a bull run, and history repeats...

Same as in 2013...
+10 Reply
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