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LTC's weekly chart just looks comical now. Textbook bubble pop chart back to where it started.
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Why does everyone have to attack others when they think they are losing money? And, why can no one ever admit to being on the losing end? Everyone always makes money on this thread. No one knows you personally, just be honest.  Its an unpredictable market. A perfect trader would still lose at least 30% of the time.. PS.. price up $10 in the last few minutes.. but on very low volume. No bidwalls to support it ATM. A lot of people here probably don't even trade and just hodl cold storage coins hoping for the next bubble. This explains why none ever admit to losing and the anti-bears sentiment. |
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The plunge protection team has arrived.
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BFX margin long idiots never learn.
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That bubble pop chart again.. whenever it gets spammed around you know we are close to a bottom.
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According to Elliott Wave theory, wave 1 (bounce from 340 to 548) must not overlap with wave 4 (current one). Since price territory has been overlapping it suggests that 340 was not the ultimate low and more downside may be coming in the following months if it starts trading in the lower 500s.
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gold has outperformed every other asset class except bitcoin for the last 14 years with the exception of 2013.
That's just because of the Gold bull market since 9/11, which has ended. Compare it to something like Apple or Berkshire Hathaway stock since the 80s and it looks pretty weak in comparison. In general blue chip stocks massively outperform gold over the very long term. |
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precious metals and crypto currencies are the only things in the world that can be money, simply because you can't easily create more of them and they store alot of purchasing power in a compact package.
banks printing fiat money and arbitrarily investing it are causing the misallocation of resources, shifting production resources from goods people really want to crap nobody needs.
their central planning experiment will destroy the fiat economy before the end of this decade.
jump off the titanic and get on the bitcoin life boat, its going to be rough...
Precious metals are horrible investments. They can go down for several decades like they did in the 80s and 90s and even under perform inflation. As for cryptos, there is a time to buy and sell. Blindly hodling can be very costly. |
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Zero fees Chinese exchanges make most of their money by trading against their customers (stop loss farming, front running etc.). If you don't think this is happening in an unregulated Chinese exchange you are insane.
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Bitfinex margin calls at it again.  |
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Must suck to be that fool that buys at 690+ every time.
It's so odd. At 688 they don't buy but when someone starts pumping those same people panic buy at 695 only to see the price drop back to 688 after that. And then they panic sell of course.
It's always the same. Why do people still fall for it?
Most of the time those panic buy spurts are due to bots anticipating a break out. So, that type of behavior is actually to be expected. |
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Did Raphael ever share the distribution of USD swaps between LTC and BTC? That'd be interesting to know
It's probably almost completely BTC. Who in their right mind would hodl litecoin on margin? It just keeps going down week after week. |
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Maybe we started to "bubble" again after the $340ish low, and then the top was at $685. And now back to bear market? Bit of a stretch in definition, but hey, we doubled! A bubble should only be considered a bubble when it is in uncharted price territory. Bouncing around previous price territory is not a bubble. |
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There's no way it will collapse in 3 months.
The S&P is still trading above its 200 and 300 day moving average.
In 2007 it took about 10 months from the test of those levels to the crash to really get started.
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Bitcoin can't get past the price of a troy ounce of gold without willy or some other fuckery.
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1. Most people cannot. Even most university graduates cannot.
2. The real inflation is an order of magnitude higher than 3%
1. Any monkey throwing darts at a list of stocks and other capital assets can even get higher yields than that. 2. Typical gold bug/libertarian argument. Yeah, stay away from that risky fiat and buy gold/silver, even though you will probably get slaughtered more holding precious metals over the next couple of years. |
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As if holding fiat stalls economic growth. As if fiat is not designed to steal from the uneducated who don't know what else to hold than fiat.
It's not that difficult to protect yourself from about 3% inflation. If one can't manage that they are doing it all wrong. For the average person it is a lot safer and easier to protect yourself from about 3% inflation (at least in Western countries) than to speculate in something crazy like bitcoin. |
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Lesson to be learnt: Don't use that stinking shit they call "money". They'll rip you off longterm. Short fiat, long everything else. Fiat is not meant to be hodled.. it's meant to be invested or consumed. Hoarders who stall economic growth are punished for a reason. |
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Jan 6 at 1000-ish was the top for 2014.
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Bitcoin's main demographic are tech geeks and the get-rich-quick traders who are online a lot even in the summer anyway.
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