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RE: Bitcoin Price Action Analysis - Traders Buy Now
Thanks for your explanations. So you think we are going back to the 20K mark soon? thanks!
Thanks for your explanations. So you think we are going back to the 20K mark soon? thanks!
Who knows my friend. Anything - I mean anything is possible. I am playing a long game here. I have been in the space since 2012 when I started mining. I have been investing in stocks for decades. I had a very expensive education, you might say.
I am a longer term speculator type of investor. I use technical analysis all the time though. Why pay a premium for something when in a few days (or minutes with cryptocurrencies) it will be on sale for half price...ya know what a mean!
I wrote that blog entry because the markets feel different to me since a couple weeks ago. Its hard to describe. But hey, it will be interesting to see if my prognostications here prove to be true. My other entry about BTC seems to be holding up pretty good!
The key to these markets is to have good information. I would be happy to expand on that statement if you like. Believe me it's critically important you have good sources of information or you may as well just throw darts at a board and break out the hope-eeum pipe.
The problem I am seeing is you actually CAN 'invest' in these markets that way because of the whole scene being warped by a giant and steady influx of new capital.
I'm no genius, I just happened to be around longer than most and kept at it this whole time. Which brings me to the fact that I am always open to new information as well. I am learning as I go just like everyone else.
Otherwise, it's party time! Any fool with a web cam and a youtube can say just about anything and people will believe it. The mania surrounding this is just getting started and there will be more and more crypto millionaires minted every week through no fault of their own, although they may believe they are brilliant.....ahem.
Again, remember the actual study where they had a monkey throw darts at a board with all the stock in the market on it and he did better than most hedge funds?
Making money in this space at this time is like shooting ducks in a barrel. Just be acutely aware, that when these markets do turn bearish, it will be sudden and brutal. The next real correction will require capitulation from much deeper pockets than us first movers. There WILL be blood in the streets.....
That's when I will bring my dry powder to the party with my dump truck! In the meantime, it is quite likely that my 20K trade target is way too low.
So - how soon is anyone's guess. Could be next week. could be a year from today after crashing to $9,000 a few times. Although I seriously doubt that. Big money is in the game now. Yes they will manipulate to their advantage. But to crush these lucrative markets would be foolish and they know it.
Why kill the goose? Take the eggs, and figure out how to milk the bitch too!
Thanks for your detailed reply :) I couldn't be more agree with you about all you said. I have not been involved in crypto since that long but I am also a long investor I made little trading. Mostly I try to dind the best and more reliable sources and get those coins which are still to bloom, so far i'm very happy with my investment. You got my follow, best of luck