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RE: I See Bubble People

in #cryptocurrency4 years ago

I think most of them are quick to claim a victory that was never theirs to claim. To prove this to yourself you only need to go back to what the bitcoin chartists were saying during the Memorial day weekend selloff. Pretty much ALL of them were picking "buy the pullback!" targets in the range of $1500 to $1800. The "actual" low for that selloff was $1880 on Sat eve of Memorial day weekend. I "know" this for a fact as you can paruse my list of spews and you will see a blog where I outlined volume characteristics on the actual bitcoin "live" ticker. I was only 'expecting" that low to create a short term bounce...therefore I called a short term buy which generated the biggest move higher for the weekend, +$250 per coin within 24 hours. It turned out to be "the" low before the move towards $3000. Something that even I wasn't expecting at all as my general calls on 'actual" bitcoin are made via sentiment readings on bitcoin tracker GBTC. ...which only trades during regular U.S. stoc exchange hours. The windup? Not a single one of those bitcoin chartists were "correct" in their $1500 to $1800 line in the sand to buy. Price never even got there. Yet go and see how many of them were claiming "victory!" about their great call to buy at $1500 to $1800 as bitcoin moved on to a new high. Pretty much all of them. :-)


?? See my comment above...