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RE: Bitshares (BTS) Update: Ascending Right Triangle Pattern Spotted!! $0.90 Short Term Price Target
Has anyone else noticed that this coin jumped immediately upon recommendation? I mean obviously people follow what @haejin has to say because the value his thoughts.
But this does show that perhaps when you have a large enough following you can buy a coin and then recommend it a few minutes later and make a decent profit.
Just saying. I value his insight but also take it with modesty. We are all human and make mistakes.
There are about 2.5 billion BTS in circulation. I don't think a post seen by a few thousand Steemit users in the past 25 minutes caused a jump. I'd recommend everyone check out his tutorials on Elliott Waves to gain better insight into how he interprets the markets.
I agree...he announced right at the apex of a triangle consolidation pattern...many experienced TA's saw this and waited for the break or bought in anticipation of the thrust...but im sure we help :-)
The increase in bitAssets (bitUSD, but mostly bitCNY recently) is the reason for the recent growth in price along with the bullish alt market in general. When bitAssets are created, a short trader must lock up 1.75X the equivalent value in BTS in collateral. So, for every 1 bitUSD there is 1.75X that value in Bitshares locked in a smart contract as collateral and removed from circulation. The more bitAssets that come into existence, the less bitshares there are available to trade, thus increase in price.
I know this is awesome..i've seen a huge increase in liquidity these last 2 months...i don't know if this is true but i read in more than one source that the increase in BitCYN liquidity was due to Chinese investors looking for a DEX to use...makes sense
I would have to disagree. As sometimes Haejin makes a call for a kaboom and it takes 3 days for it to occur. Other times when he says its imminent bam it goes up within 5-15 minutes. So if the same pattern of all Haejins followers buying when he says it should always have the same affect, but it doesn't. Will you help me setup an experiment and we can get scientific about it?
uhhh fun, I am in! :)
Although I also do not think his posts affect the market.
Lol how did he predict btc fall then ? Did he sell all his btc ? Go watch the tutorials first , instead of saying rubbish .
Btw Bts is a great coin , it's a decentralized exchange .
If @haejin never told me about Bts , i would always think bts is a shitcoin . Thanks to him i know that Bts deserves a top 10 place in con market .
The thing you are talking about is pump and dump , you can see their telegram channel , discord . I lost 50% of my money there .
Nobody lost money in haejin's call .
Haejin is doubtlessly BTS best marketer at tis time. There is no doubt that his propagation of BTS' existence makes a big difference, sometimes an immediate one (this is not a bad thing, it might be a very good thing for all concerned).
The comments on your comment are a bit beside the point when they cite "the number of bts in circulation" (what difference does the number of coins as such make) - or that haejin could not have stopped a downward trend - why would he be interested in doing so IF he wanted to influence ? Corrections are always healthy, right ?
Also, the bts retracement went down following the big Bitcoin correction, when even Bitcoin Cash went down - and the BCH crew has surely been manipulating all they could.
When whales pump something, they do it to sell at a high level, and they need that level to come down to buy in again on the cheap, which automatically happens when they sell - I mean, how hard can it be ?
Haejin cannot be expected NOT to use his own predictions for his own benefit just to come over like a copy of Jesus Christ - he has a life, and he must manage his money ;)
The increase in bitAssets (bitUSD, but mostly bitCNY recently) is the reason for the recent growth in price along with the bullish alt market in general. When bitAssets are created, a short trader must lock up 1.75X the equivalent value in BTS in collateral. So, for every 1 bitUSD there is 1.75X that value in Bitshares locked in a smart contract as collateral and removed from circulation. The more bitAssets that come into existence, the less bitshares there are available to trade, thus increase in price.