I wouldnt buy anymore bitcoin until price is past $13500 unless you feel like tying up your $$ for awhile.
In other words, you prefer buying at +$13.5k levels than buying at $10k flat and have a 35% profit when we finally surpass the previous resistance? That sounds like you're a fomo buyer. There is no guarantee that we'll keep going up from there, so if you buy at $13.5k you might still end up holding a bag of expensive coins. You're much better off slowly dollar cost averaging at current levels. Bakkt could be a massive short opportunity because everyone is thinking moon. Price could go much lower to shake out new money entering for the bakkt pump that may never happen. Buying now, all you are doing is feeding the bottomless bitcoin blackhole. Look today almost down 10% on nothing no news ffs.
I honestly have seen more skepticism when it comes to Bakkt than positive stories. Not many believe it will have much of an impact nor do they care about selling this news, which won't yield you much to begin with. We're just bouncing up and down within a large descending triangle. Pretty normal market activity in times where the bears are gaining more strength week by week. Not related to Bakkt. Yes i myself would rather forego 35% than tie more money up. Because it can go down another 35%. |
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I wouldnt buy anymore bitcoin until price is past $13500 unless you feel like tying up your $$ for awhile. Looks like there just isnt any interest atm. Bakkt could be a massive short opportunity because everyone is thinking moon. Price could go much lower to shake out new money entering for the bakkt pump that may never happen. Buying now, all you are doing is feeding the bottomless bitcoin blackhole. Look today almost down 10% on nothing no news ffs.
Ps dont be fooled by the fake support at $10k there is nothing there.
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so many positives.
how would you all like goldman sachs or any of the other brokerage houses to put out a buy recommendation to all its customers on bitcoin?
they cant now, but after bakkt launches they will, because they can acquire and hold the actual coins. they may sell their bags to the plebs after the buy recco but still they can now say it.
perfect timing : currency wars, interest rates plummeting, stock market tanking, recession talk(usa), gold up, might be the perfect storm?
#1 thing is that bitcoin needs new blood in the game, and this is it.
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I really do think this is a game changer. Finally a legit worldwide recognized name (NYSE) that invokes trust and security for the deepest pockets on the planet. I think that thousands of institutions/individuals will take positions and hold some bitcoin because it will be so easy for them to do it. That is going to be a lot of coins taken out of circulation for a long time. I also think that the whales are going to be challenged now that there are players who have pockets as deep as them. There will be more liquidity meaning there will be more buyers stepping up and buying discounted coins and less of the possibility of always being able to buy back cheaper. THe volume and dollar amounts that will be traded will dwarf all the existing bitcoin exchanges and they will become secondary. Price will be determined worldwide on a legitimate exchange finally. We will be seeing OTC type volumes. Think of all the wealthy people all over the world that just may want a little piece and now are completely safe and secure to be able to get in. Just my 2c.
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the thing is, its not a crash of $800. its a crash of $4000 and most likely going lower.
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I’m new to crypto world, still learning and there’re lots of things I couldn’t understand yet. Following is one of that,
It’s saying something like the Bitcoin price decides by the demand. As I was understood, when more people buy Bitcoins, the Bitcoin price rises and wise versa.
Before asking the next part of the question, I need to know that, is what I was understood right?
imo price goes down when people buy. traders trade against new money so no one can artificially buy the market upwards. if someone placed a buy for $1 million dollars worth of btc the price would tick up, but then the bots and traders would crash the price on purpose so the person who bought can't immediately turn around and sell for a quick profit. big buyers are also tested to see if they panic sell into a sudden plunge. Its a game of nerves. ever notice when you buy price goes down and when you sell price moves up. no easy money here. |
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price is bouncing right off fibonacci retracement numbers. next stop around $8550 if $9600 is broken.
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Patiently waiting for the prophecy to fulfil...  I’m a bit out with price/timing. You’ll see the trend unfolding as predicted though. Tether or no tether, the market behaves like the ocean. You cannot fight tides. impossible unless bitcoin is heading to zero. why would whales kill their golden goose? and on top of that lose their power to deeper pockets who would be buying all the way down? there might not even be enough coins to borrow to short at those levels. price would have to be blatantly manipulated to those levels which would in essence kill all the credibility in bitcoin. its not going to happen, bitcoin has come to far in ten years to implode. |
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Bitcoin is down almost $4000 in the last 6 days.  #rektcity |
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Damn those whales are good.They just locked in a boatload of bagholders. Price is down almost 30% from $13xxx. More pain ahead. Wash, rinse and repeat.
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want the price to start going back up? stop buying.
traders/bots trade against all new money that enters the game. ever notice when you buy some bitcoin the price goes down? this prevents someone(retail) with deep pockets to "buy" the market and make a quick buck. look at the prices since $13600 after a couple dead cat bounces, anyone who has bought has not had a chance to sell a pump for profit. Lower lows to lock in bagholders. could go on for awhile til the traders/whales feel they can start pushing the prices higher and not have many profit takers selling as the price goes back up. there is no free money in this game. be patient
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As crazy as it sounds you may make a better premium breaking the set up and selling the chips individually.
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bitcoin in just taking a breather. don't you fret, that euphoric feeling will return  |
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price needs to go up fast for fomo. previous ath of $1250 had to go 10x to get fomo in 2017. Many people are still underwater from the last bull market,if they held, so at minimum a new ath might spark it , but im thinking along the lines of at least $30-$40k+.
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big correction UP  i think price goes over $10k in the next week. bitcoin can pump 10% in a day and we are at $9300. |
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I suspect LTC will lead the way once again, and its upcoming halving should flip the market bullish at any moment. We had a rising wedge from which we corrected, and sooner or later this correction will run out of steam and buyers will step in.
Yet again ltc is eating btc's lunch. |
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