You are viewing a single comment's thread from:
RE: 7/15/17 It's official! Dollar Vigilante Jeff Berwick makes history AND "out-Cramer's" Jim Cramer!
Btw, I generated 2 consecutive 50% gains by shorting a bitcoin related ticker. Here's my blog on it.
You will also find on my blog list my commentary about the collapse of bitcoin in a blog about the U.S. exchange traded bitcoin tracker GBTC. I understand the way markets work, and how sentiment (the only factor you need to consider to determine "future" price movement) affects pricing in just about any market you wish to speak about. In fact, if you can find someone here who understands how markets are driven by sentiment better than I do, please bring them to my attention as I will certainly add them to my followed list.
If you had to guess, how low do you think sentiment around bitcoin scaling takes us? Or, are there too many variables around Aug 1 still?
Aug 1st is a "non-issue" as it was known 3 weeks ago when BTC was trading at $3000 and everyone was saying it would see $5000 by year end. That GBTC thingy has lows that are "non-confirmed" all teh way down to sub $25. No way it gets that low on this drop. It "should" break below $300 though. And I wouldn't be surprised to see GBTC trade down to the next closest one I logged in at $165. That would dictate an "actual" bitcoin price somewhere closer to $1000.
Ah, thanks for doing the GBTC price conversions, I didn't know them.
I agree with your call. I am expecting an overshoot of a bottom at around $1200, potentially taking us right around 900-1050. We'll see!
Just posted some new charts on this this morning, when I saw what a beating happened overnight.