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Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 32212. (Read 26712938 times)

legendary
Activity: 1148
Merit: 1018
We can talk about that once we actually top out. So far, we haven't even doubled from the 266 high.

This. It all depends on how quick we go. If we double $350 in just a few days, I will search for cover and secure some profits for sure. If it takes another month or more, I will sit comfortably and enjoy the ride, I think I will secure some profits at $1300 or so Cheesy Cheesy Cheesy

/whishful thinking off
legendary
Activity: 1148
Merit: 1018
I have to admit I'm a bit worried of having gone parabolic so quick. As we all know parabolic growth is completely unsustainable mid term and preceeds panic sells and deep crashes (the wild euphoria turns into panic very quickly), so I would have been more comfortable with a few months of linear growth before the 3rd mania phase w/ exponential growth.

If this trend continues with stopping to consolidate and return to a sustainable path we would reaching five figures in just a month, honestly I don't think that will happen, is more likely that huge correction/pop happens before that unless there is a consolidation phase.
On the weekly chart we are just now starting to see the kind of growth that characterized mid to late March. (33% now vs 35%-46% then)

If things play out the same way now that they did then, we've got about 3 weeks left before some major exchange melts down and causes a panic.

Given the very short timeframes in which BTC evolves, for that kind of analysis I prefer the daily charts. And looking at the daily charts we really entered the parabolic growth phase suddenly and quickly, it smells fishy to me. At this pace we will double the current price Tuesday/Wednesday next week, and if that happens for me is a clear sign that panic is around the corner, and I will sell a modest chunk to secure some profits.

I for one hope this won't happen and price won't double for at least one month, volatility is nice but also not seeing your wealth changing 400% (for good and bad) in a few weeks Cheesy
N12
donator
Activity: 1610
Merit: 1010
I was kidding, it was a nod to proudhon.

I'm of the opinion that next bear market will be the most devastating and the longest one so far (worse than 2011) because everyone is caught up in the belief that if only they hold long enough, they cannot possibly lose out on BTC, no matter their entry price. Every dip is a buying opportunity etc.

Furthermore, the current bubble developed very quickly after only 7 months between former alltime high. So, it's a bubble on top of a bubble in the same year.

We can talk about that once we actually top out. So far, we haven't even doubled from the 266 high.
member
Activity: 112
Merit: 11
So, one question: for how many in here buying BTC has been the best financial decision EVER??

My wife bought when the price was £7.80. She spent £5k and bought 641 coins, worth about £130k or so now.
This was probably the 2nd best decision she ever made (after answering "I do")

I have bought a small number of coins from time to time, but my 2nd best decision ever was to buy a bunch of 5870s back in January 2001.
legendary
Activity: 1148
Merit: 1018
Well, I guess we can look forward to single digits next year now.

You never know with BTC. If the Bitcoin ETF is approved by the SEC, five digits before single digits for sure. On the contrary, if the parabolic growth continues for as little as a few days/weeks, I wouldn't be suprised to go below $50 this year. For me its clear that the more it goes up SO quickly, the deeper it will correct. Is basic psychology, people feels a huge and irrational rush when see their money doubling every few days, and that irrational excitment is easily reverted into panic - you know how we use to say, "the higher you fly the deeper you go"... In this case is very true especially in the case in which the heights are reached too quickly.
legendary
Activity: 1400
Merit: 1013
I have to admit I'm a bit worried of having gone parabolic so quick. As we all know parabolic growth is completely unsustainable mid term and preceeds panic sells and deep crashes (the wild euphoria turns into panic very quickly), so I would have been more comfortable with a few months of linear growth before the 3rd mania phase w/ exponential growth.

If this trend continues with stopping to consolidate and return to a sustainable path we would reaching five figures in just a month, honestly I don't think that will happen, is more likely that huge correction/pop happens before that unless there is a consolidation phase.
On the weekly chart we are just now starting to see the kind of growth that characterized mid to late March. (33% now vs 35%-46% then)

If things play out the same way now that they did then, we've got about 3 weeks left before some major exchange melts down and causes a panic.
legendary
Activity: 2198
Merit: 1311
Gotta get back to work.  Have fun everyone.
legendary
Activity: 1148
Merit: 1018
I have to admit I'm a bit worried of having gone parabolic so quick. As we all know parabolic growth is completely unsustainable mid term and preceeds panic sells and deep crashes (the wild euphoria turns into panic very quickly), so I would have been more comfortable with a few months of linear growth before the 3rd mania phase w/ exponential growth.

If this trend continues without stopping to consolidate and return to a sustainable path we would be reaching five figures in just a month, honestly I don't think that will happen, is more likely that huge correction/pop happens before that unless there is a consolidation phase.
sr. member
Activity: 462
Merit: 250
Hi guys.  I've been trying to avoid the spec forum, but I decided to break down and jump back in to say "hi".  I'm pretty optimistic about bitcoin, but this move is surprising.

THE Bear is BACK! I don't know what to do anymore... ABANDON SHIP!

Historically, my ridiculous bearishness has cost me.  Just ask adam.

Welcome back Smiley!
full member
Activity: 184
Merit: 100
Hi guys.  I've been trying to avoid the spec forum, but I decided to break down and jump back in to say "hi".  I'm pretty optimistic about bitcoin, but this move is surprising.
Glad your back!
legendary
Activity: 1638
Merit: 1001
₪``Campaign Manager´´₪
Hi guys.  I've been trying to avoid the spec forum, but I decided to break down and jump back in to say "hi".  I'm pretty optimistic about bitcoin, but this move is surprising.

Wow. This is a bearish signal indeed.

Guys: SELL SELL SELL!!!




P.D.: Just joking Proudhon, very happy to have you here!!
Lol, i was thinking of a similar reaction.  Welcome back Proudhon.
legendary
Activity: 1400
Merit: 1013
Historically, my ridiculous bearishness has cost me.  Just ask adam.
But it gained you your own theme song. That's got to be worth something.
N12
donator
Activity: 1610
Merit: 1010
Well, I guess we can look forward to single digits next year now.
legendary
Activity: 1552
Merit: 1047
Next stop, $700

That will be a good spot to secure some profits Smiley

So, one question: for how many in here buying BTC has been the best financial decision EVER??

Cheesy Cheesy Cheesy Cheesy
"I made better investment than bitcoin" - Said no one, EVER.
legendary
Activity: 1162
Merit: 1007
Hi guys.  I've been trying to avoid the spec forum, but I decided to break down and jump back in to say "hi".  I'm pretty optimistic about bitcoin, but this move is surprising.

THE Bear is BACK! I don't know what to do anymore... ABANDON SHIP!

Historically, my ridiculous bearishness has cost me.  Just ask adam.

It's nice to have you back Proudhon!
legendary
Activity: 2198
Merit: 1311
Hi guys.  I've been trying to avoid the spec forum, but I decided to break down and jump back in to say "hi".  I'm pretty optimistic about bitcoin, but this move is surprising.

THE Bear is BACK! I don't know what to do anymore... ABANDON SHIP!

Historically, my ridiculous bearishness has cost me.  Just ask adam.
legendary
Activity: 1552
Merit: 1047
Hi guys.  I've been trying to avoid the spec forum, but I decided to break down and jump back in to say "hi".  I'm pretty optimistic about bitcoin, but this move is surprising.
We missed you Grin
sr. member
Activity: 462
Merit: 250
Hi guys.  I've been trying to avoid the spec forum, but I decided to break down and jump back in to say "hi".  I'm pretty optimistic about bitcoin, but this move is surprising.

THE Bear is BACK! I don't know what to do anymore... ABANDON SHIP!
legendary
Activity: 1904
Merit: 1037
Trusted Bitcoiner
Hi guys.  I've been trying to avoid the spec forum, but I decided to break down and jump back in to say "hi".  I'm pretty optimistic about bitcoin, but this move is surprising.

I think it took  a lot of traders off guard but i think we can all agree that in hindsight it all makes sense and bitcoin will continue on its path to glory and fame.
legendary
Activity: 1148
Merit: 1018
Hi guys.  I've been trying to avoid the spec forum, but I decided to break down and jump back in to say "hi".  I'm pretty optimistic about bitcoin, but this move is surprising.

Wow. This is a bearish signal indeed.

Guys: SELL SELL SELL!!!





P.D.: Just joking Proudhon, very happy to have you here!!
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