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RE: Bitcoin & All Cryptocurrencies Are Collapsing! We Are Witnessing The End of Blockchain!
We are in a period of correction, and I think the correction is not done yet: https://steemit.com/bitcoin/@wekkel/bitcoin-chart-analysis-14-july-2017-compressing-further-downwards
The brave pick up some coins already, but I don't dare do anything (but HODL) unless we get a beautiful big fat spike in the $1,800-$1,600 zone. Keep your powder dry.
If the technicals on this prove to be correct than you won't be buying at $1800 or $1500 either. Or you will be sorry that you did.
http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=Stock&symb=gbtc&x=52&y=21&time=6&startdate=1%2F4%2F1999&enddate=2%2F18%2F2017&freq=1&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=0&maval=9&uf=0&lf=1024&lf2=2&lf3=8&type=2&style=320&size=4&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=11
"Actual" bitcoin has been following the U.S. exchange traded bitcoin tracker GBTC ever since it failed to post a new 52 week high even as actual bitcoin did. GBTC is your daddy. You will do what it tells you to do or you will be crying like a little baby. Actually, I bet all of the local crypto addicts will be crying like babies all over the message boards here before the next "buy and hold" rally ensues.
No one knows the future. But a lot of crying will happen for sure.
Sorry to say that the future of bitcoin has already been dictated by the past. As I said, your future (both near term and long term) lies in GBTC. It is the ONLY "realistic" way to gauge sentiment in the price of bitcoin since what you see happening in the live bitcoin ticker I posted on this thread is nothing more than pure unmitigated bull crap. This has already determined your fate. See that Aug 2015 low on this 5 year chart? That's where bitcoin is going. So when you see it actually happen don't forget who toldja so.
http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=&symb=gbtc&x=24&y=15&time=12&startdate=1%2F4%2F1999&enddate=2%2F18%2F2017&freq=1&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=0&maval=9&uf=0&lf=1024&lf2=2&lf3=8&type=2&style=320&size=4&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=11
If I calculated correctly, that's a cool 15x decline from here. $136 price point from $2,050 now.
And bitcoin won't get there on this current Dollar Virgil induced dumpf. I've been tracking GBTC since I found out about it from someone over at Utube. Why not? If given a choice of being "trapped" in actual bitcoin by your exchange, or going with an exchange traded ETF where you can get out in 5 seconds if you want to like you can with GBTC, it seemed worth tracking to me. I update my blog here on teh technicals whenever an important signal of note materializes. As of right now the downside target is 297.50 (to be eggzact) but I wouldn't be surprised to see it trade down to $165. Thus my commentary that buying "actual" bitcoin between $1800 and $1500 will likely lead to more losses. A GBTC price of $165 will take bitcoin closer to $1000. That will open the door to the "gap n crap" low that was set in bitcoin prior to the news that bitcoin did not receive S.E.C approval for listing on any of the major exchanges. I think that low was $770. Something like that anyway.