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RE: BITCOIN - How To Catch a Falling Knife
Overlay of GOLD 1970-80's to that of BITCOIN current
I would say its too early to call for the bottom yet !!! It has breached few technical(s) and we have to reconsider how we look at it going forward IMO.
Hey Nice Overlay Chart! I use to find a ton of correlations out there, such as Gold and the Japanese Yen. They can be helpful if you understand the game behind it.
Yes, too early to call the bottom, and this is why I suggest changing the perspective. However, this is a grand chess game unfolding. It's not just a stock and certainly not Gold, as they can be manipulated very easily and directly.
Gaming crypto's takes a very different and patient approach, as the 'Boyz' have a lot to lose if crypto's take hold. "They" need to work it from a different angle. They will be persistent, but so shall we!
It's a game changer, and it will not play out over night. We will see a lot more events like this to come, but I believe the overall trend is up! It's just the first inning. The fundamentals haven't changed.
@Hive-mind, whats your perspective on overall stock and bond markets !!! do you feel a rigged game.I'm asking because i see no co-relation to overall markets to that of stock market.Whats your view??
Now that's a loaded question indeed. I have been in this game a long time and truth be told, I have never experienced a time where the manipulation is more evident than ever. You can see evidence of this everyday. For instance, having all the big tech companies down and yet the market was still up...Really?
All fundamentals are gone, there is no logic to this stock market. It's always buy the dip, despite many sectors having real economic problems. You're looking at something that can't afford to go down for fear of a complete loss in confidence. Zero interest rates for as long as any one can remember doesn't bode well for a false economic recovery story that has been peddled. Them raising interest rates now is just enough to save face.
Trading allows you to get in and out without having the full risk of the trap door suddenly opening up on the stock market. You must learn their game if you want to play it successfully, it's their rules and they can rig it anytime they wish.
My focus is now on cryptos, much harder to manipulate. For me it's one stack to buy and hold, the other to trade. It's the future and it has long legs...