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Pay off the mortgage in 2020 using 1 bitcoin.
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Looks like bad news, we'll have to wait till 2019-2020 for the next bubble. Hopefully he'll be wrong.
I don't think that's what he's saying. I don't think those arrows correspond to time, but rather the shape of the structure he expects to form. The Wave 3 that he draws is ~ 9 months long, so by Elliott Wave rules, the time taken by Wave 4 should be no more than ~18 months. However, there is no minimum time, so it could be much, much quicker than that. If the zig zag comes to fruition, then I would expect to enter the next Wave 5 (of the primary third) within several months. Thanks for the clarification! |
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Looks like bad news, we'll have to wait till 2019-2020 for the next bubble. Hopefully he'll be wrong. Edit to add: I'm wondering if I'm already on the verge of selling my soul to the devil, by listening to the words of a satanist.
Yeah, odd name to choose, lucif..... |
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Just scooped up some, thanks for the cheap coins.
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It was the time to buy not sell, oh well.
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October 14
Reason: We continue the exponential trend after we consolidate for a month. With all the new crypto hedge funds that have formed this year and people searching for yield, we'll continue making new ATHs in 2018.
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Buy and hold Monero, it'll prevail, tell everyone.  |
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What a great buying opportunity! The current price will look ridiculously cheap in 2020.
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Dropping here. The FUD has been thick lately.
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Might need to spend the day getting the last of my B*CH over to bitcoins while they still have any value.
I have yet to do it too. Does anyone have the easiest way to do it from paper wallets? |
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$4130 and dropping. Someone wake Jimbo up!  |
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"A promised picture. It broke the logarithmic line and "spreads" along it. Something is waiting. I do not observe special divergences. Persistently crawl to the goal."  |
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He has a new post and chart.
'About China. First, ICO is not bitcoin. Secondly, even if they take up the bitcoin of the stock exchange again, this is not 2013 and China is no longer a cake. If in 2013 China dragged the whole world market of bitcoins to heaven, now China reluctantly drags itself after the world.
Therefore, if it is true that they want to cover something there, then this will not be such a catastrophic event as in 2013. I think the maximum, what can be expected is another correction for the weekly ma20 (now at the level of 2,900 and is fairly cheerfully growing).
In this case it is very important not to overlap with the previous weekly maximum of $ 2980 from June 12 of this year. In the sense of not reaching this level with correction. Then the overall super-bullish picture will not spoil.
And by the way, looking at the previous graph - the longer we trample on the current levels, the higher will be the maximum, because. the historical logarithmic trend is upward and with time both support and resistance are getting higher.'
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i find it laughable some people dismissed the BCH fork pre-hardfork
but yet, continue to hold it till now anticipating higher prices
if you are one of these people and have the audacity to continue dismissing BCH, you are a fraud, a sellout. go look in the mirror
I think BCH will surprise us all! Bitcoin with Segwit can never be the original bitcoin.
BCH just needs a decent number of miners to spread out the mining distribution. thats it! it is more closer to the original bitcoin than Bitsegwit
ha ha!
Interesting. Difficult to predict as well. Do you not think it might just follow the ETH / ETC relative price tracks ? (and network hash rates for that matter) ETH is now 20x ETC. I would assume that is the logical conclusion. |
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So, quick poll here boys: what do y'all think kinda looks good at the moment OTHER than XMR for me to put some of this liquidated Dash money into?
The next one on my list is Bitcoin. I know this is off topic but I value the Monero communities input on this. Bitcoin, Litecoin, Ethereum, Ethereum Classic, or Ripple, which one to hold? I was thinking Litecoin has the ability to gain the most and has a good team. |
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We are not in a bubble - the rocket has not even launched. The crypto space is still so small that it's almost insignificant.
Long term i would definitely agree with you - bitcoin is still a relatively new project, and mass adoption is still very very far away. Long term wise we are probably not even achieving 1% of the potential that bitcoin can do to help decentralize and stabilize the world economy. But short term we haven't gained that many users but yet the prices for bitcoin has risen by 400% since the start of the year.I don't think that this is sustainable growth, and this short term bubble could pop very soon. I think that we are currently near mania, or even bull trap. Not sure where exactly though. How many user have we gained this year? |
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The only bitcoin bubble whose crash lasted for more than a few months was from Mt Gox dying. That was the most catastrophic thing to happen to bitcoin, so unless you think a similar event is going to happen soon, what you are predicting is extremely unlikely. Without a catastrophic catalyst like that, we're probably not gonna have any bubble pops that last for more than a few months. The buy pressure and increasing userbase/adoption is just too damn strong to possibly allow a down period of a year or more. The problem is that the "adoption" we think to see now, in reality, is only speculation. And, at least in part, speculation of the worst kind. A significant part of the demand is based on MLM schemes in many parts of the world and other scams. When these schemes pop, then we'll have disappointed "potential customers" all over the world. No, I'm not saying "it already popped". What's presently happening is a normal correction/downmove. But I don't think we'll go steady up to 10K and more from now. My prediction is that the large crash is still before us - when the price increases are too slow to feed the MLM schemes (maybe we have already seen 2017's high at ~4950) and they pop. I wouldn't even call this a bubble at all. Look at past bitcoin bubbles. The price increased 10-fold or 30-fold or whatever in a couple of months. This has been a gradual increase, up 10-fold in over a year, not in two months. That suggests steady solid growth, not a frenzy induced bubble that will pop.
I have heard this argument many times, but I don't agree. With a higher market cap, it becomes increasingly more difficult for the price to increase drastically. With a low market cap, you put in a few million dollars and the price doubles or triples. In the present situation, that's not longer true. Bitcoin has now a market cap that's more similar to major stocks. Every stock that almost doubled in a month will be considered in a bubble if it's not justified by some big achievement. KEY difference here: bitcoin is not a stock!!! It is not a single company's shares, it is an entire global payment platform and currency. Yes its market cap is now the size of pretty big companies, and yet bitcoin's global adoption is absolutely microscopic still. You can't compare bitcoin's market cap to the stock of a single company. A better comparison is gold. Bitcoin is about 1% the size of the gold market cap. So it terms of bitcoin's potential it is in fact still a very very low market cap, which is why it can grow a lot and simply get a correction, like it is currently getting, and then keep growing, without collapsing in a bubble pop as long as adoption continues to grow. People really shouldn't even be talking about bitcoin being in a bubble unless it gets into the 6-digits but isn't actually used for payments much, that would tell you that there is a ton of investor money in it without it actually being used much. So talking about a bitcoin bubble at $5000 is just a complete joke. That was very well said. I believe we hit $5,000 and people took some profits, then China came out with the ICO ban and then the bottom went out and theres a big selloff. This will be similar to the Jan 2017 selloff and the ETF selloff in March. |
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It sort of gets rid of all the tension and makes it look more realistic, and wipes out a lot of the irrational actors...
I still don't know if the is a bump on the way to the ATH though.....
I also agree that a nice, deep pullback is healthy for a strong bull market. Time will tell if this is a bump on the way to an ATH, but I think with all crypto hedge funds getting into the scene, along with general investor appetite, we'll be at an ATH before the year ends. |
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