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RE: BTC - Consolidation finished ?

in #bitcoin7 years ago

Excellent presentation. I agree with your evaluation. I spent over 20 years on a trading desk so I'm very familiar with technical indicators.

I do not follow Bitcoin. I would never consider investing in it. I believe it to be gambling which is one notch above excessive speculation. I also believe at some point in the future it will become a disaster for investors. Don't get me wrong. I do believe it has plenty of room to go on the upside but with 1,000 investors owning 50% of the outstanding and the history of hacks, lost keys, and closed exchanges this one scares even me. Additionally with the advent of futures trading in Bitcoin it opens up a whole new possibility for manipulating prices. I have felt this way before during and after its 3,000% appreciation. Hope you guys become millionaires trading this vehicle. Good luck.

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