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RE: 12/6/2017 The Market View and Trading Outlook
My payday is on Friday and I'm hoping this trend keeps pulling money out of ETH and LTC so I can grab either of those more cheaply. Really exciting times as BTC nears $14k.
I agree, but when Bitcoin does come crashing down and it will. It's going to hit Etherium and LiteCoin like Odins Hammer. Its kinda unfair, BTC goes up fast, LTC & ETH go down, BTC goes down fast, LTC & ETH follow.. it's like they get fucked twice.. lol. they do best when BTC is stable and money pulls out of BTC and sees them as a bargain.. I would honestly not be surprised to see LTC in the $60's if BTC goes boom. I think $76 is the short term floor as we saw last week.. no matter what happens we know there will be a fight there and some rebound action. Again, just keep in perspective HOW FUCKING FAST BTC, ran down to $8400, it was like an hour or something... wiping out the gains of a week and a half. I can't really say where a truly safe floor is if it can blast through the order book like that.
It's knocking on the door of $15k now... it's surging through $1000 worth of price action within a day now. Total Market Cap is over $400B and BTC has got 61% dominance of the cryto market. It's pretty incredible. I honestly have no idea where this money is coming from, I guess everyone is expecting the Futures market to add a lot in.
I honestly don't mind Odin's hammer decimating everything in the short term if it helps build support for the long term... and further buy opportunities is exciting.
I agree.. You know, I have been watching these charts everyday for a year or so. Trading actively throughout. What is occurring now is just not natural.
Look at the time required to make price jumps.
$0000 - $1000: 1789 days
$5000- $6000: 8 days
$6000- $7000: 13 days
$7000- $8000: 14 days
$8000- $9000: 9 days
$9000-$10000: 2 days
$10000-$11000: 1 day
$11000-$12000: 6 days
$12,000-$13,000: 17 hours
$13,000-$14,000: 3 hours
It seems like a perfect setup for the Bears in the futures market to come in and piss in the Kool-Aid every one had been drinking recently. We shall see.
I can see it going higher based on its ability to fight off large sell order now; I'm not going all bull, but I'm seeing a higher push if it makes it through the next 6 hour time frame without much downside. I'm fine on LTC right now anyway, been in and out 3 times between 98-101..
I'm waiting for this..
Hahaha, that's amazing. I've got 30% of my portfolio in BTC and it won't surprise me tomorrow if I wake up and it's the exact same, or zero or $40k. I just know it'll be entertaining.
If there is a Nuclear Explosion of BTC, and LTC and ETH cop it as well... will that decimate the cryptocurrency market? Or will everyone just immediately put buy their way back in? I guess unprecedented market action means we can only speculate.
That I don't know, as the little fish get eaten by the big fish eventually we run out of little fish. We are no where close now, and even if BTC did go nuclear people will jump back in. It will take a prolonged bear market where the pain lasts to take it down in that aspect. I would expect the technology or some outside factor like banks and government to take it down before it has a chance to break down naturally.
That's true... I literally don't know anyone that has money in the stock market these days. It's all property (which has been going nuts for 20 years in Australia) and now maybe Crypto. I only know little fish.