The #1 reason why bitcoin price is NOT a bubble
Ok. I have been providing constant "evidence" as to why the price of bitcoin is being manipulated on a daily basis by a few big hands. Anyone who views this spew may also want to check out the blog I did yesterday about daily trading volumes and how to spot a short term buy. That blog was posted right at the low that set off the biggest % move higher on the weekend. I am working "exclusively" by gauging nothing but sentiment indicators becase a fact is a fact. You will NOT make money in bitcoin buying a "runaway" high. You CAN make money in bitcoin by buying lows that will force people who bought at higher prices to give up the ghost. There was a post done this morning by another experienced trader and he made a very good point about "drawdown" lows and the psychology of that. I'll be back to provide a link to his steemit.
The #1 reason why bitcoin is not yet a buble is because the banksters and hedge fund companies are only now discovring how easy it is to "play" you people. Right now Bitcoin is doing maybe two or three $200 swings on a daily basis. The Wall St 'thugs" now know how 'gullible" everyone is so they should be coming in droves soon. When the dily $200 swings come in much more frequently the gig is up. Current bitcoin holders should hope those prices they are paying are not coming from looower levels. For now I will say that the recent $2700 high will be breached at 'sometime in the future." Still trying to figger out from which level...and I say it's from below. But if nothing else. use this live bitcoin ticker I am posting the link to and learn how to spot "manipulation." It is veeery easy to do so in Bicoin becuz the volumes ALLWAYS pick up when it's about to turn higher...and get dumped on.
You should have never let the banks and hedge funds into your club. game over? :-)
Until bitcoins are regulated in some form with a stable exchange, I would be quite surprised if a big Wall Street firm went all in on bitcoin. The exchanges are all over the place. The only way I could see bitcoin being traded by smart money. They would have to be regulated and traded on the NYSE and a futures version on the CME. Otherwise, bitcoins are not a stable investment.
As for the authors claim, bitcoin is not in a bubble. Well, bitcoins have all the trappings of a bubble. If they go higher, which they can. Bitcoin will financially ruin even more people when the bubble eventually pops.
I wouldn't put it past Jamie Dimon or one of those clowns to orchestrate it. The Chinese are paying 50% more for a home in Canada than the same shed would cost in the states. It's becuz they realize that the yuan goes from a yawn to collapse in teh next year. Better to hold "something" for half your money than nothing at all. :-) Bank stocks worldwide are saying that the banksters don't even believe their own game. If they did BAC would be twice where it's at now. As one last move of "desparation" I could see some dummass bank board "liqudating" assets into bitcoin or some other farce. I stil say the banks will be buying U.S. govmint debt whenst BAC is making their bankruptcy announcement tho. Dollars are the "buy and hold" safe haven if you don't like volatility. Govmint debt will make you rich in two weeks of trading someday. Trumpf was right...Mexico will pay for the wall. Actually we won't even need a fukkin wall. :-)
Hey, prove to me that you are not a wuss like ShitTheBed is. This would be an "unbelievable" call anyway...so the chances of it going my way are about as slim as they get. here's the bet. I say Bitcoin is gapping down into tomorrow's market open and is trading at or belowst $2000 by 10AM EST. Here's a live chart.
http://bitcointicker.co
If I'm right you buy me a $50 lunch tomorrow and if you're right I will buy you your usual burger king lunch and even super size your fries and drink...AND you can make it a duble whopper mit cheez too! Value of $10. :-)
Joejustjoe your legend status is beyond none. You have the number 1 track record on steemit, I would believe you are a student of the maestro.
Actually, I spewed at the maestro's Utube to let him know it is "likely" that he will be wrong about the Bitcoin $1700 to $1800 area being a "buy the pullback!" point. :-)
buy low...
....sell high.
Seems like I've heard that somewhere before.
Not from anyone who has any experience in actually doing it tho. :-)
I endorse @bitcoinkings as someone who at least is willing to acknowledge the type of trouble you can get into as a trader. I added him to my own watchlist...and it's almost impossible to get on that.
Thanks #joejustjoe
I like the ticker!
Me too. I wish ETH had one that showed trade vlumes. if you or anyone else find one let me know. Tracking vs the U.S. dollar only of course. The currency that will "eventually" kick bitcoins ass if the hedge fund morons don't do it first. :-)