/biz/ - Business & Finance

>>28948158
low means not 50k at this point. Let's look at one exchange's order book (this is in EUR, by the way. USD is more telling because it has more orders but this is just for the sake of argument): the biggest volume of orders in a 14% span of the current market price shows 40K as a first support line under which it is hard for the asset to fall from, but it can and will go down if the sale volumes are high enough when it nears that price. On the other hand, 38500 is where you find a wall: those are the strongest supports currently, and even if it falls sharply, it would hardly fall from that unless we're talking 2018 crash levels.

Resistance levels are at around 43K, but you can see sale volumes not being as high. It could very well break them once it reaches that.

If you want to buy super short term, look at the order books and buy just above the biggest supports, and put stoplosses because a 30% decrease in price means the asset has to grow around 45% for you to be at 0 again.

>>28948200
It's my pleasure.

Another thing you guys might want to look at, is this:

https://www.lookintobitcoin.com/charts/stock-to-flow-model/

It's a model that predicts bitcoin price by considering it an asset like gold. Given how the supply and mining system of btc works, it has been very very accurate, even when dips happen. When it goes down, the newest 'low' is higher than the last market top, and halvings (halved mining rewards) are very good indicators of when btc tends to go up because even if cash inflows remain the same, supply decreases, and many buyers simply do not move.
Consider also that a lot of wallets are just.. lost. As time goes on, more and more wallets are going to die and some btc will become irretrievable, making them even scarcer. Especially with the influx of normies who will lose lots of money by sheer virtue of incompetence.