So he was 100% right during a bear market crash situation of a few months? Big whoop. Just going all in on the highest leverage money can buy in the stock market crash of 2000, right up until the crash also gives enormous returns. That doesn't make it a good strategy.
What losses would this strategy have made in previous years?
He's fairly new to bitcoin and only started charting it around the China bubble. So, we can't really say that he would have been bearish in previous cycles. |
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Dan is consistently wrong. And keeps altering his consistently wrongness. Follow him at your own peril.
In January at ~850 he was calling 400 way before the Gox fiasco. - Check In March he said that the rise to 700 was not a reversal and retest of 400 was imminent. - Check Recently, he spotted the fractal pattern early in the mid-500s and suggested to short. - Check If you followed his TA since early 2014 you made serious money. |
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Day traders are actually what keep bitcoin alive.. without them cashing in and out would be a pain in the ass with even greater spreads and overall bitcoin would be less efficient of a payment system.
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I'm not sure you understand what undervalued means.
I'm not sure you understand how efficient markets work. Cheap credit has been flowing around Western markets for many years now, most stocks aren't 'cheap' at all. Most of those that appear to be undervalued on the surface usually have significant underlying issues. An example of this would be ticker PAL. |
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So buy the undervalued ones.
OP, I think this is a great idea and stocks is the best thing to diversify to from Bitcoin imo.
With all the central bank pumping around the world there are not many left... And if they are still significantly undervalued by now, there's usually either something fundamentally wrong with the company or the industry. |
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Playing commodities may be of interest to OP. They are a bit safer than stocks at the moment (both on the long or short side). I would keep an eye on coffee and wait for it to top out for a very nice shorting opportunity (it could go down hard over a period of a few months). Also, silver is an interesting one that may bottom out this year.
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This is more like March 27th on the pre-dump.
The final dump ala April 11th will happen when Huobi/BTCChina/OKCoin make statements.
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Dream on. Article clearly states Central bank emphasizes that fiat withdrawal channel must be halted. Who will pump BTC? Huobi always led the rallies.
now is time for exchanges to move offshore completely
I was just being being sarcastic, as on all previous China deadline dates either nothing happened (Jan 31st) or it rallied (April 15th). I wouldn't be surprised if the Chinese manipulators did this again with their fake volume. |
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If the news are true and they ban fiat withdrawal channel, most Chinese traders will have NO CHOICE but to withdraw in the small window between NOW and MAY 10 at the highest price they can sell their BTC off
On May 10th there will be another rally, just like April 15th.  |
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The US Dollar is in a bubble:  |
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It would have only worked in 2011, all other years it would have been a bad move.
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I'm not saying I have lost any faith but it is lost its touch since I was introduced in 09 if anything it has become monopolized.
What is killing the bitcoin are the multi-million dollar data-centers dedicated to mining, little to no acceptance as an alternative payment method, nearly impossible to keep up with difficulty increases, and limited peer to peer exchanges.
Tell me otherwise?
This is like complaining that professional gold miners are centralizing gold too much, what about us pan miners?? lol. |
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The volatility is killing it - small deviations are fine but not the huge drops and rises we see every few months
Without volatility = 90% of traders would not be interested in it. You can't get huge leverage on bitcoin like with forex, so bitcoin gets its liquidity from volatility. Without volatility it would be even more illiquid. |
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Silver is looking awfully cheap, about to go below 19.
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Buying stocks now is pretty retarded. The vast majority of them are significantly overvalued. If you want to get into stocks look for shorting opportunities only the coming months. I haven't been long any stock over 2014 and I am up 50% on my stock shorts (mainly thanks to plug and various marijuana bubble pops).
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That's funny! :-)
How about "no, the liquidity takers controll 100% of the rates!1!!"
I don't have to state that the rates and FRR are set where those two groups meet, do I?
I'll gladly pay higher rates than now, when we leave the bear market. Do you have any idea how expensive it is to go through five months of bear valley with any "reasonable" rates? In no way would I take anything even close to 0.9%. Wake me up when we crossed the ATH, then we talk.
In other news, I lend out a smaller position since January too.
Ente
While there is a bear market, the volatility has been high and if margin longs get in at the lower end of the ranges they still make a lot of money. Also, bear markets are actually riskier for USD lenders. So, it does not justify these cheap rates. As others have suggested, the biggest culprit seems to be the illusion of insurance and more people using auto lend, which is not a sustainable business practice and may backfire at BFX one day. |
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All of them have pros and cons. There is no best exchange.
For dark net drug dealers -> BTC-e
For speculators -> Bitfinex
For noobs -> Bitstamp
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Lots of lenders still seem to be offering their USD quite low after the last major rate drop a few weeks ago. It's pretty easy to post above flash rate and have your loans taken though.
It seems to get consistently lower the past couple of weeks (at ATLs) almost to levels that I am starting to worry that BFX would not have sufficient insurance funds. IMO, these rates seem too high risk given the market we are dealing with. |
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The Flash Return Rate for USD swaps is becoming insanely low these days. What gives?
Shouldn't bitfinex be concerned of this as it reduces fee income for insurance?
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