I don't know about you guys, but I'm getting really weary of the "Winklevii ETF launch soon, it will save us!" crap. Not that I don't want to see that happen. I do, but not only have people been saying for 4-5 months now SoonTM! about that ETF launching, but it could literally be like another year away, or more. I really don't want to read about it being "just around the corner" for the next 12+ months, from people who really have no fkn clue when it will launch.
It's the equivalent of saying "Bitcoin to $40K any day now!" So tiring.
we don't need saving. doing just fine. I totally agree. But tell that to the legions of bitcoiners that believe that the only way we'll see another stupendous rise is with an ETF launching. |
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I don't know about you guys, but I'm getting really weary of the whole "Winklevii ETF launch soon, it will save us!" crap. Not that I don't want to see that happen. I do, but not only have people been saying for 4-5 months now SoonTM! about that ETF launching, but it could literally be like another year away, or more. I really don't want to read about it being "just around the corner" for the next 12+ months, from people who really have no fkn clue when it will launch.
It's the equivalent of saying "Bitcoin to $40K any day now!" So tiring.
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"We'll never see sub 500 again!" Reverse trolololololol  |
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Just remember kids: sharp bounces don't necessarily mean a true reversal.
Just look at what happened in April - a sharp bounce from bottom off 339 all the way to 554 on about 4X the volume of this recent bounce. Everybody cheered "Hooray! Look at that volume! Downtrend is over, bottom is in, only up from here!" Then look what happened over the next 2 weeks after the rally... slow fall from 554 down to 420's. Where it stayed for a month.
So yeah. I predict that within 10 days (by 9/1) you'll have your answer whether this rally was sustainable or not.
who cares? up! ccmf! Only people that care are existing long term bulls looking to buy more, and not fall for any traps.  (But I'll always be ready for CCMF!!!) |
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The recovery was quick.
I would advice speculators to be cautious and wait for a week or two before taking new actions.
This. I'm all for a rally to the moon, but be careful out there ya'll.  |
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Just remember kids: sharp bounces don't necessarily mean a true reversal.
Just look at what happened in April - a sharp bounce from bottom off 339 all the way to 554 on about 4X the volume of this recent bounce. Everybody cheered "Hooray! Look at that volume! Downtrend is over, bottom is in, only up from here!" Then look what happened over the next 2 weeks after the rally... slow fall from 554 down to 420's. Where it stayed for a month.
So yeah. I predict that within 10 days (by 9/1) you'll have your answer whether this rally was sustainable or not.
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Despite this small positive rally, I'm still neutral before buying any more. Most of this is just sellers from 3 days ago buying back in, not fresh fiat money.
It's not like the rest of the world just woke up today and said, "Man, I don't even know what bitcoin is, but look at that price! I'm ready to buy a shit load right now!" Nope, they still don't even know about it yet. No rally news on major websites. If you Google "bitcoin news", the only articles that come up are those talking about the recent crash. That's not inspiring at all.
We're still gonna go sideways for a while, maybe even a little down again.
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Ok, the activity in the last week just unequivocally proves the theory that the crypto market whales take a 3-4 month hiatus during the summer months. This summer was completely dead (except for that silly SR auction crap). What a waste of time and energy this summer was for me.
Next summer, I'm going to cold storage everything and not even look at the market from May to August.
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Yep, I could sense a big dump was coming.
will it bounce back like its done all day? probably not, b4 now we one whale had painted a series of higher lows [while selling coins to himself], this trend is broken, epic knife coming everyone run to darkcoin Ripple! FTFY yes the same whale everywhere at the same time, and no one else contributed to this... You do realize a single whale can have multiple trading accounts on multiple exchanges, right? That's how they arbitrage, as well as fake the market volume. |
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Yep, I could sense a big dump was coming.
will it bounce back like its done all day? probably not, b4 now we one whale had painted a series of higher lows [while selling coins to himself], this trend is broken, epic knife coming everyone run to darkcoin Ripple! FTFY |
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Yep, I could sense a big dump was coming.
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14th August shorts were 2,766 now they are 7,050 thats an increase of 154.88%
Yup. I think we know this isn't the real deal this time. BUT, those shorting might get squeezed anyways on the volatility... and, if they get squeezed hard enough, what shouldn't have been the rally becomes the rally. So... the plot thickens. Dangerous market right now. TL;DR - Either the shorts know something that we don't know, or they are absolutely stupid as fuck. |
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Fairly large dumps on bitstamp
Watching $480 closely here...considering the bullish crossovers it should hold Getting tested right now, lol |
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Hi richy, i appreciate the feedback. How these people are gonna pay the rent when they were unable to pay the mortgage?  And also i am thinking about occupation. You can't get them out once they are in, by law, at least here in my country. So maybe i am a little biased against mortgage in general. Well, if you can't pay the rent, you move out and move down. If you can't pay the mortgage you sell and... oh wait, you owe more than the house is worth so you'd have to borrow more money to be able to sell it and you're already in debt up to your eyeballs... And truthfully, you may not even have to move down much since house prices have fallen, a landlord doesn't need to charge as much to get a good return on his purchase. This. Also I've read plenty that one of the fastest growing segments in the U.S. is the emergence of new upscale apartment complexes. Because hardly anyone can afford to purchase houses in the U.S. anymore, plus they move around so much for work now that it almost makes more sense to not be tied to a mortgage you can't easily unload. |
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its in that "breaking out zone" almost everywhere.
buying on a 24hour high these days seems dangerous tho, bulls are have reason to be cautious
I really am not in the mood for a buttrape. I am cautious. What if I put in a long position and shit get flushed like the otherday. Not enough margin to hold back a $110,- price drop Friggin' same here, man. I'm not thinking it'll go all the way back to 440 in the next 24 hours, but definitely without a solid breakout of 530 with heavy volume, it definitely could within a few weeks. And I refuse to get buttraped again. Refuse! I'd rather pay 550 on a true, solid high volume uptrend than to get flushed again on a head fake. I'm sure a lot of bulls are starting to feel this way after this nearly 5 month reversal from April. |
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A mortgage? Man, I don't know. I think it is the worst way you can lock yourself into a life-time of debt, and for what? A house and a car? I have bigger plan. I want to live in 5 star hotels around the world drinking grappa barricata all day long. Or die trying.  +1000!!! Speaking as someone that HAD a high-priced mortgage, and after 15 years of investment the equity was still shit. The bank was the only winner. I have spent the last two years cutting all my debts completely loose. I now only have $5K of debt to my name, and that'll be gone soon and I'll be debt free for the first time in 18 years. The next house I own will be bought either completely outright, or with at least 80-90% down. |
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If Wall Street arrived and only brought ~$3.4M to the table, bitcoin is truly doomed.
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480!? better cut my losses now b4 they turn to gains.
You said it wrong, it's "cut my looses". |
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Exchange gap narrowing, price creeping up.
Short squeeze soon?
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