Will Bitcoin's downward trend continue or will it return to the $50,000 to $60,000 price level next month?
I've proven it will continue indefinitely from here. There will never be another all time high for bitcoin. Sure, there will be occasional price increases, but those will be just noise within a larger, proven downtrend. The price of bitcoin will never again go over $50,000. From an investing point of view, bitcoin presents a great short opportunity from here on out, forever. Luve you Proudhon.
|
|
|
confirmed. according to my sources. Sir ProudHon
|
|
|
Confirmed. I checked with my sources in PBOC.
|
|
|
Not sure. Was the 20k Polo buy whale dumped into? If so, that's pretty capitulatey... It was indeed. And I am now 26.6k XMR richer. This is the lowest btc ratio since 2016. I'm seeing a lot of comments these days about how "it's different this time". No, it's not different. The smart money knows this and is picking up altcoins now and going forward from people who believe such thing. There will be a new rally for altcoins once again and it will catch a lot of people by surprise.
Monero has had tremendous technological progression and adoption over the last few years. "but fundamentals". None of that matters here. The main reason for this price drop was obviously the bear market and bitcoins recovery, however, something unexpected occurred after breaking 0.01 and that was massive margin liquidations. People who believe so strongly in monero that they'd leveraged up beyond reason were sadly getting crushed. The price went far lower than they expected and they were forced to let their coins go at the worst possible time. I think we may be in, or entering capitulation at this stage.
When the price was far higher I estimated a "worst-case" target to be ~0.007. Therefore I started buying at ~0.01 and decided to go in quite significantly around these levels we are now. I don't try to time exact bottoms, that is a fool's game and impossible at the scale I operate on anyway. There is still a risk that a continued bitcoin rally could put further pressure on altcoins. But what we're seeing here is unprecedented and the upside is now far greater. So from a risk/reward perspective, while the price could drop fruther, I think betting on further downside now is a bet with very high risk of missing out. If I've learned anything from more than half a decade trading alts, it's that when the market turns, it turns quickly. If I'm not positioned by then, I won't have time to.
There is something different this time though. I've always been a bitcoin holder. That is, I hold majority of my funds in bitcoin, rarely going below 70%. Not this time. I have decided to follow my own altcoin prediction to the fullest and increase my altcoin share significantly. In fact, I am, as of today more than 80% in altcoins and ready to increase that further. Monero just became my second largest holding. I haven't owned this much monero since during the xmrbtc rally in 2016.
Exciting times ahead. Or horrible misery I'm interested, you still holding? Yes, did not sell a single monero since that post. And no plans of selling anytime soon. Historically Q1 is when altcoins pump, and this price drop seems like a huge overreaction to me. I'll admit it went further down than I expected, but I'm not too concerned. I imagine there will be support at 0.0042 which is the previous double top. Oh and I have now increased my allocation to 100% altcoins. Most of that ETH, and XMR second largest holding. Based chad TKT
|
|
|
This is gentlemen? Buy a straitjacket when we breach the ATH.
|
|
|
Very BIG evening update for the shrewd trader who is into the confirmed math and science of trading:
luv you proudhon. never change
|
|
|
Holding my XMR tight until the market values it correctly.
|
|
|
wtf is this pump. holy shit Hope its not an delist pump.
|
|
|
MatTheCat would be proud.
|
|
|
Our glorious overlords apparently have not filled their bags enough yet so feel the need to push the price back downwards. I believe this trend will continue for a month or so until right before Consensus. Where miraculously bitcoin and shitcoin alike will again start to gravitate upwards towards new yearly highs.
All dramatics aside(or maybe this should read to fully embrace the drama), I think the basic problem is still the battle of forks between btc and bch and btcsv. Every time one trys to pump their coins there is an almost immediate dump to drive prices back down and vice versa.
Its really getting quite old dont you think? It is really quite striking to watch this technological wonder grow yet not have a shred of confidence in its price due to the actions of a few. Same as it ever was. #dyor
Nah. We are supposed to track sideways until October 2019. No manipulation required. https://twitter.com/rogerquantrillo/status/1100404411661074439Proof of Hairy Loops agrees
|
|
|
They have KFCs by the dozens, but I don't recall seeing sister Yum brand Arby's anywhere.
Arby's is not part of Yum brands. It is owned by Inspire Brands. Well, there you go. I coulda sworn I'd seen locations coupling the two. (not here, of course) Probably just misrememberating. Arbys has by far the most creative menu + food among mainstream fast food chains imo. Roast beef, Brisket the best.
|
|
|
Well, if your life is going to be dictated by what is available grab-and-go... There's beef in the supermarkets - one could make one's own. There's also pre-packaged roast beef - as in chopped/pressed/cooked/shaved variety. They have KFCs by the dozens, but I don't recall seeing sister Yum brand Arby's anywhere. Though I assume for such a person, Arby's doesn't have roast beef sandwiches either.
Mystifying is the limited selection of TexMex ingredients - tortillas, shells, salsas, etc. It's available, but only one or two items in each category. OTOH, there is almost Hawaii levels of variety of Spam. Go figure. Navy influence?
Arby's is not part of Yum brands. It is owned by Inspire Brands.
|
|
|
Finally, after ignoring zcash for more than 2 years (I said why in my previous post) I bought my first zcash today. While the inflation is still heavy and we could see more downside the price is becoming reasonable at last. It's been a long wait, but it was worth it The question now is how much lower can we go? Judging from other altcoins, like monero, my guess is less than 50% (in btc ratio). I'm ready to increase my investment by a lot if we're closing in on that target. Been waiting on you TKT! You're one patient MFker.
|
|
|
Just remember...when selling you get hit with tax consequences (in the US).
So selling a big chunk is not the best strategy (unless you're just in it for the fiat and supporting your benevolent government with more money).
Personally I was able to retire and I can pull out $35k of my bitcoin every year tax free. I don't have to work the rest of my life.
To me that seemed a bit more important than anything I could cash out and buy.
4% withdrawal rate?
|
|
|
roach is actually a bull in disguise
|
|
|
Has anyone noticed how Dash has been the bellweather for many recent market moves? It seems to precede the Bicoin turns by anywhere from a minute to two hours. Dash has a tiniy market cap and paper thin volume, so this should not be the case, IMO.
Billys back??
|
|
|
Smooth, can we have the folio updated. Curious to see how it performed vs the overall market.
|
|
|
Next big grassroots coin. The dev is immensely talented and built MVP's for Augur & Aeternity. Mine or buy.
|
|
|
|