Topic: Are you wondering what's happening with bitcoin? - page 3. (Read 764 times)

2 days ago I published a chart in trading view explaining what's happening with bitcoin price.

https://www.tradingview.com/chart/BTCUSD/QIgVoEf6-BTC-USD/

I like to get rid off all the news and the buzz that's been around the space lately and just focus in charts. I like that taking a technical approach cleans and filters all this FUD that's been hitting the prices all over the board these last weeks.

I just don't like to see a lot of people that are just starting to trade, take the wrong decisions because

1.) they just listen to other "experience" traders that just encourage them to hodl and do nothing but that.
2.) they believe lots of altcoins are the next big thing and they get full in thinking they are undervalued because they are low caps. If altcoins are in the market, they are most likely to suffer this price bleeding because everyone was rushing to get into bitcoin, and now that bitcoin keeps dropping, everyone is rushing to get into fiat. It's a bloodbath, a snowball of blood. So for all of you guys that are into alts, do your research about them, analyse why the price and their caps are at those levels, be skeptic, but most importantly, judge the technology and not the price. There's great alts out there that are truly innovating the space right now, so there's good dips to buy, and definitely some knifes that you don't want to catch. A lot of alts are just piggyback riding the market, taking profits out of inexperienced traders or ignorant investors. Be aware. Just because it's a blockchain and it's "private" "fast" "decentralised" does it mean it can't be pure shit.

Let me know what do you guys think about the chart.

Be safe and don't feed the whales.

I have not yet taken a decision about selling Bitcoin. I will be watching the market events till the end of February and then decide what to do.

There's great alts out there that are truly innovating the space right now, so there's good dips to buy, and definitely some knifes that you don't want to catch. A lot of alts are just piggyback riding the market, taking profits out of inexperienced traders or ignorant investors. Be aware. Just because it's a blockchain and it's "private" "fast" "decentralised" does it mean it can't be pure shit.

You can throw a pair of MA and on the daily chart you can immediately see that bitcoin should have dropped to 6K dollars. As usual there are only two options, either a breakdown down and a complete collapse of the coin, or an ending movement and endless growth. And since only in 2018 there has come the era of the crypto-coins, it will not collapse. I do not understand that you are breaking your head. Yeah you just have to play smart or be outsmarted. I'm still really happy with this prices. Are more reasonable according to what blockchain has achieved so far. Not that there's a formula for that but what has blockchain achieved in the average joe mind? "hey get rich quick" that's all they think when they hear about crypto, and that mentality is what whales love to play with.

There isn't anything to wonder about, the major coin holders are dumping that shit and rebuying it it lower cost, so that they can later rinse and repeat When the bitcoin became popular, millions of newbies  decided its their chance to get rich quick! Suddenly, your local barber became a crypto broker over night lol. The wales obviously expected it, and when the time was right, the flushing marathon had began. The chain of some world wide events like the chinese ban obviously brought its contribution to table.

Lets recall the 2008 events, yes.. the housing bubble! DO we still recall the unfold of events prior the burst? It was the time when your local barber was also a real estate agent . The banks were giving out mortgages like candy, because they knew that they could always to back to wall street and ask to issue some more garbage bonds. Meanwhile the s&p and moodys continued to issue AAA rating for those junk bonds that had no future. The game is being played on the level beyond average investor's comprehension.

My point is, the wales will always manipulate any market! We could sit here and debate all day, or study the history and play smart!

I TOTALLY GET YOUR POINT BUT THE THING IS I THINK MAJORITY OF THE PEOPLE IN CRYPTOCURRENCIES NOW, PARTICULARLY BITCOINS, ARE JUST HERE BECAUSE THEY WANT TO JOIN THE BANDWAGON. THEY ARE DEFINITELY NOT HERE TO UNDERSTAND YOUR TECHNICAL APPROACH ON THIS. The attitude is simply dense hence the price of Bitcoin has been erratic due to the influx of enter and exit investors. This fact, we definitely cannot control. What I am saying is since technical people are outnumbered, we have no choice but to ALTOGETHER deal with the price fluctuations UNLESS there are any mechanisms available to educate people on cryptocurrencies and everything that goes along with it. On the other side of the coin, let me remind you that we cannot totally attribute this to the number of 'ignorant investors' as you earlier called it since there are huge companies that hold a huge chunk of share in cryptos, and they are definitely here to try to control the market. I think there are bigger whales out there in either public or private sectors that have come to take control of cryptos yet again. Now, what say you?  

I think that bitcoin prices have dropped sharply in recent days and there is no sign of stopping because of the psychology of taking profits before the Asian holiday and the growing tightening of the Chinese market for bitcoins. . Currently the price of bitcoin is $ 7000 and there are signs that will continue to fall, as my calculation, the bitcoin price may reach $ 5400 in the coming days.

There isn't anything to wonder about, the major coin holders are dumping that shit and rebuying it it lower cost, so that they can later rinse and repeat When the bitcoin became popular, millions of newbies  decided its their chance to get rich quick! Suddenly, your local barber became a crypto broker over night lol. The wales obviously expected it, and when the time was right, the flushing marathon had began. The chain of some world wide events like the chinese ban obviously brought its contribution to table.

Lets recall the 2008 events, yes.. the housing bubble! DO we still recall the unfold of events prior the burst? It was the time when your local barber was also a real estate agent . The banks were giving out mortgages like candy, because they knew that they could always to back to wall street and ask to issue some more garbage bonds. Meanwhile the s&p and moodys continued to issue AAA rating for those junk bonds that had no future. The game is being played on the level beyond average investor's comprehension.

My point is, the wales will always manipulate any market! We could sit here and debate all day, or study the history and play smart!

Price trying to make a floor here at 8,000. Are you going to sell 8,000?

Bitcoin is very volatile, so whats happening rightnow is not new. This big drop in price of bitcoin has a really big impact to those who have weakhands, they started to do panic selling, which is not good idea. Thats why its price is still droping. But i know bitcoin price will still recover. All we have to do is to take this big drop as a chance for us to buy more bitcoins and then wait untill we get big profit.
Just be patient and trust bitcoin, big profits are on the way.