Don't worry boys, the Bitcoin market will continue to stay down all this year, but will begin to rise again mid next year along with the whole U.S. stock market. Just like 2014 was, going into 2015. You see, it's all engineered and managed markets now. It's all fake and completely managed. They just need Average Joe to think it's real. The game: 2-3 years of raging bull, followed by 1-1.5 years of bear. This is exactly the way the U.S. stock market played out in 2011-2013. Then again in 2015-2017. In a long term melt-up, this is the new new. Get used to it.  Not likely. More likely: 1-3 years no crossing of $20k while essential infrastructure is being build. HODL will get new meaning. I wasn't suggesting it would be any different than that. Yes it will probably take another 1.5-2 years to cross back above $20k. If it took a full 3 then yeah I would be a little surprised. |
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Don't worry boys, the Bitcoin market will continue to stay down all this year, but will begin to rise again mid next year along with the whole U.S. stock market. Just like 2014 was, going into 2015. You see, it's all engineered and managed markets now. It's all fake and completely managed. They just need Average Joe to think it's real. The game: 2-3 years of raging bull, followed by 1-1.5 years of bear. This is exactly the way the U.S. stock market played out in 2011-2013. Then again in 2015-2017. In a long term melt-up, this is the new new. Get used to it. |
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...but the great game isn't over yet imho....
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I couldn't help but notice the distinct lack of a ring on a particular finger. As your attorney, I advise you to take a hit out of the little brown bottle in my shaving kit. You won't need much, just a tiny taste. Then, put a ring on that finger. Right after getting a prenup.  |
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In all trading markets, there is no more true price or value discovery based on supply/demand anymore.
There are only two things : technicals (bot trading) and the media "narrative" du jour to support the technical trading.
That's it. (Hint: just look at the 1m chart, that literally shows what all the worldwide Average Joe retail demand there is on any given day. It's a ridiculously pitiful, miniscule amount).
So what do you think will be "the narrative" will be when Bitcoin's technicals turn over to start a new bull run?
Is there even a real narrative in the MSM? I don't think I've really read any article that was relevant or even interesting. Always hype or doom with some fluff that is quite often just flat out wrong. Seems like the only thing they're good for are figuring out when to dump a few coins or buy some more. I've long theorized that the MSM "narrative" for Bitcoin has always been and always will be negative, primarily for two reasons: 1. Wallstreet doesn't own 90%+ of all bitcoin (like they do with tech stocks), never will, therefore they don't want to promote it (i.e., they can't game the system therefore they are disinterested anyway). 2. The whales that are interested in the Bitcoin market don't want Average Joe to find and buy the bottom. If they can keep up the negative narrative around Bitcoin, they can say "Stay away, there is no good time to buy!". They only want the public to buy the next ATH in the last few weeks and be bag holders. |
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In all trading markets, there is no more true price or value discovery based on supply/demand anymore.
There are only two things : technicals (bot trading) and the media "narrative" du jour to support the technical trading.
That's it. (Hint: just look at the 1m chart, that literally shows what all the worldwide Average Joe retail demand there is on any given day. It's a ridiculously pitiful, miniscule amount).
So what do you think will be "the narrative" will be when Bitcoin's technicals turn over to start a new bull run?
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I'm thinking this whole Bitmain IPO document is a complete fabrication. Why? Because if they really did make that much net revenue in half a year's time, then they'd never have a need to take the company public. Period. when this was first floated...i think I heard 15 billion..that is a lot of mula. Now not so much. On the other hand, if they do the IPO now and btc dumps..they got lots and lots of IPO $$$ as a hedge to cover their 'dubious' BCH investments this year  But, if BTC pumps, they can ride this IPO back up to whatever the market will bear win/win I can't imagine anyone would want to put any serious cash into the Bitmain IPO with the two idiots (Jihan Wu and some other rich Chinese asshole named Micree Zhan) controlling 55% of the company. |
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I'm thinking this whole Bitmain IPO document is a complete fabrication. Why? Because if they really did make that much net revenue in half a year's time, then they'd never have a need to take the company public. Period. |
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The free creation of any shitcoin is the power of cryptocurrencies. No one holds a monopoly.
Embrace it (not shitcoins, but this concept of freedom).
I don't dispute that. I dispute that a crypto is seen as having any monetary or value storage just because someone clicks a button and creates a blockchain. |
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Funny, I remember looking at CMC in January and there were ~1770 total cryptos listed including Bitcoin. Two weeks ago, there were ~1950. Today, there are 2003. Fucking hilarious that shitcoins are being created daily, weekly, monthly, by the hundreds at light speed. At this rate there will be >10K shitcoins listed on CMC in 10 years. So you can completely ignore the "BTC Dominance" metric, it's totally bogus and worthless when CMC just continues to update and list every fucking shitcoin ever made.  |
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November the 5th is when they start trading. Get ready for the new bull run.  I think this could be a game changer. But I pray that they don't down the road change the rules and corrupt this. In theory, by holding clients' bitcoin accounts for them directly, they can fractional reserve the bitcoin they hold, have re-hypothecation, etc. Even phantom shares of bitcoin. So hoping it doesn't go that way. |
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OT: The lies we are being told about the U.S. economy are unbelievable Step 1: Read article https://www.cnbc.com/2018/09/24/the-us-economy-is-doing-so-well-it-could-be-the-feds-next-problem.htmlStep 2: Analyze quote "The economy is doing really well, and I'm worried that could we get to the point … where the concern is going to be more about the economy overheating than recession," Doll told CNBC's "Trading Nation" on Friday. "I'm not suggesting that's where we are, but I think we need to ask the question."
U.S. economic conditions have steadily improved this year as the labor market has tightened, wage growth has picked up speed and tax cuts have boosted profits. Growth in the GDP has reflected those improvements.
"Second-quarter nominal GDP was well into the 5s. Could it be over 6 percent nominal in the third quarter when it gets reported?" Doll asked. "All of that, we'd say 'Oh my goodness, are we beginning to have an economy that's too strong?'"
Step 3: Look at M2 Money Velocity Chart https://fred.stlouisfed.org/series/M2VStep 4: Laugh my fkn ass off  |
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Wow that guy is straight up Alpha --- he grew a beard, shaved it off, and grew it back all in the span of about 5 minutes, lol. |
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Bitmain and Bitfury are most likely to deploy many of their new ASICs on their own farms, and I believe their cost to produce is way less than the price they give to the public. I suspect that most large mining farms in China will be able to recoup their equipment cost in a few months, if that long.
Hmmm. And here I thought that the WO consensus was that Bitmain was circling the drain, and were destined to kill BCH in the process. Guess that must have been a premature call. BCH is a dead zombie coin, only you haven't realized it yet. |
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6920 then 5200 then 6500 then capitulation around 3K in january 2019
With this difficulty there's close to 0% chance for ever getting back to $3000. Yes, electricity prices * difficulty are not directly correlated to BTC price, obviously, but no miner can afford to subsidize electricity costs to BTC network. You can not operate with a long terms loss, they will simply: a) turn off the machines, or b) stop dumping immediately what has being mined, making permanent bottom on break-even price level. Guess which one is more likely to happen. And they can't even do that, because they renew their electrical contracts 6-12 months in advance. |
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so we have a small small dip now let us continue the other direction
Yeah but you could be saying this for another year or three. That's the mentally draining part for some people. |
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I don't see any special rally in altcoins.
I was referring to the massive shitcoin pump that occurred around March of last year. Massive amounts of Bitcoin got traded for shitcoins. They all got pumped almost in the same week, most over several weeks simultaneously. I see some serious altcoins at 10%-15% ....and some shitcoins at 5%-10%.
There is no distinction. Altcoin == shitcoin. |
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