RE: Bitcoin will not Show Another Explosive Price Jump Before June 2018, CME Futures Forecast

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Bitcoin will not Show Another Explosive Price Jump Before June 2018, CME Futures Forecast

in bitcoin •  2 years ago 

We actually support your conclusion, but moreso in the short term, not 6 months. Our reasoning centers more on bubble-type flows of money and social moods as relates to how crowds work. It ALSO relates to actions Coinbase took in last week's flashy-crashy, which you can browse our reasoning here...
https://steemit.com/cryptocurrency/@harpooninvestor/buy-the-dip-not-yet-here-s-why

Kinda has to do with centralized control (coinbase) which is paramount to spirit of bitcoin as per Szabo and Satoshis.

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Thanks @harpooninvestor. Apologies if I left the impression that I was making any conclusion about where the price would go; because my only conclusion had to do with what I perceived to the sentiment of the Big Boys (as represented in the data from the futures trading) as of last week.

My text is absolutely clear that new developments could drastically upset at sentiment and create a new sentiment tomorrow morning. If you are an old-time stock market investor as I am, you are familiar with this reality -- even the Big Boys will change their minds on a dime with enough incentive!

So you will never find me forecasting for public consumption where the price of any asset will go!

I have a small portfolio of cryptos distributed across well-chosen coins, and I intend to more or less forget about them for several years, keeping in mind that the original bitcoin investors also had to wait several years. In fact nothing really happened to the price of bitcoin throughout 2014-2015 and a good part of 2016!

While I wait and hope, I have already written off my investment in coins as a total loss (financially). To repeat, psychologically I have already lost all that money.

So during the coming years my trading will consist of periodic portfolio adjustment, and occasionally picking up "good stuff" when people are throwing it out the window!

One of the great things about cryptos is that you can maintain this strategy because it does not require a large cash outlay to get into positions that can make you really rich, over the long-term of course.

Cheers!

P.S. Please see my comment at your post.