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Comment by phoe17 | Hacker News Reader

The fall is not as quick as the rise. There was a lot of resistance, I wonder where the price will plateau.

Does this have anything to do with the futures?

The fall was much quicker than the rise. There was little resistance. No one knows where the price will plateau. This has nothing to do with futures.

10k->ATH: ~19 days

ATH->10k: ~30 days

10k->ATH: ~ +100%

ATH->10k: ~ -50%

I think it's going to be very difficult/very long time to see ATH again

On the contrary I think we will see the ATH again soon. Apparently no one knows what's going to happen, but there's just too much people, money, hash power and ecosystem for this to go bust.

So "too big to fail" you mean?

I don't think we can call it at the moment. But one more bull run and 50 million more across the world will definitely get Bitcoin there.

There's a lot of venture money coming in and new hedge funds popping up.

After eyeing BTC charts for the past 6 months, there is virtually no price movement that would surprise me. $30k in a couple of months? Sure. $3k? Why not. However, I will believe the bull run is over only when I see it stay down for those couple of months.

According to https://charts.bitcoin.com/chart/price it first reached today's price on the 6th of December and peaked on the 17th of December. It has now taken an entire month to fall to the 6th of December's price.

To say the fall was quicker than the rise is at best cherry picking price point data and at worst an outright lie.

No argument here. You cherry picked price data and accused me of cherry picking price data.

You didn't even have data though... you just made an incorrect statement.

If it's anything like 2013, it'll be a long slow fall to the bottom.

Nov 2013 $200

Dec 2013 $1100

Jan 2014 $800

Jan 2015 $200

The previous large decline in price (where the price dropped by 80 or 90%) had a similar trend.

Given how easy it is to manipulate bitcoin pricing, and the first set of futures expire today, it does seem very coincidental. We'll see if it starts moving upward after CBOE contracts expire today and CME contracts expire on Jan 26th.

Tether is busy printing new tokens to try and absorb the selling pressure. $100M on Monday and another $100M yesterday.

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