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RE: Bitcoin TA - summary of analysts - 31. Jan 18
Wow, after a few iterations this update looks very nice and clean!
Interesting to see the predicted lows. My BTC buy orders are actually around those levels.
How are you planning to take advantage of the current price action?
Interesting question. Taking advantage is the hard thing ;-)
I have 20% so I am good with dropping to the lows. I bought also some of the nice projects already so that if we go back to normal and turn bullish I will profit from that. So kind of both ways I win. Of course the question will be how to get cash back in if we turn bullish.
I also plan to short at 10'800 according to Tone's forcast. If we go above the 11'200 will close that position though.
Interesting! When talking about shorting, how will you do that? Do you buy futures at the CME?
Dutch crypto billionaire Marc van der Chijs expects Bitcoin to go to $40,000 by the end of the year. He is building the biggest mining operation of the world though, so he might be biased ;-)
No - I use bitmex. I think a wonderful place to leverage and short. If you open up a new account there and you want to do something good for me without having a downside on your own you use my referral linkBitMEX. I than get a tiny bonus based on your transactions. But if you don't want to use the link - no problem.
But in any case let me know your experience with BitMex and your shorting success stories!
Trading is not really for me. But when I want to experiment in the future, I will definitely use your link :-)
Better this way - until know I am still in the learning phase. I am also not so into experimenting but as I expect BTC to correct significantly and stay bearish for 1-2 years I am trying to build up some kind of insurance strategy using shorts. That is all.
Smart. Always a good idea to hedge some of your positions. Personally I don't think BTC will go down another 50% or more. One of the main reasons being that in some countries legislation is starting to get in place to have clarity for entrepreneurs about which rules to follow to be a legitimate business. Now that is clear, crypto funds are created everyday and they usually want baskets with quite some positions in the top 10, including some BTC. So money will flow I think. But , who knows?
Why are you bearish for the coming 1-2 years?
Ah - about mining - I hear about several companies with the goal to be biggest mining operation. We have one here in Switzerland which is talking with Nvidia to get their own production line - will be interesting who will come out as winner ;-)
That is definitely interesting, we'll see. At least I know for this guy that he raised 100M venture capital to get it done, the company is 3 months old and is now already valued at 500M USD. This world is insane :-P
Yep - the swiss one raises 1'000 million ;-) and it looks like they get it easily. Insane indeed.
Damn, that is going to be a serious battle!