Just wanted to point out the break through into cloud cover on the hourly. Short term might be looking at another small dip...but more sideways than not. #dyor  Always good opinions at CT imho. https://cointelegraph.com/news/crypto-backed-fiat-currencies-sci-fi-or-missing-link-expert-takeCryptocurrencies are still very volatile despite having increased significantly in value over the past 12 months. They are volatile because they are still in their infancy and investors are constantly trying to figure out what are the odds of them being successful. Assuming Bitcoin’s comparables are gold and the US Dollar, the probability of success of Bitcoin is currently priced between one and two percent (Bitcoin market capitalization divided by the value of all the gold ever mined or divided by the US Dollar M2 money supply).
Assuming Bitcoin has a one percent chance of being successful at becoming a global currency or a global store of value, it would not be absurd to consider investing one percent of a given central bank’s foreign exchange reserves like it was proposed by a prominent banker in Ghana a few months ago.
It is unlikely that cryptocurrencies will entirely replace fiat currencies - just like email did not entirely replace regular mail - but the two forms of currencies will have to learn to co-exist and live together. The cryptocurrency genie is out of the bottle and there is no way to put it back in. Central banks investing in cryptocurrencies could be a first step to build a bridge between the two worlds. I put the odds significantly higher than 1%. Some interesting data on exchange revenue.  |
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Good morning guys.
Indicators are relaxing as we catch support at the kijun line. This is a short term consolidation point and the market looks like it will head back towards the .382 fib line. I expect more sideways this coming week with moderate volume and volatility as we head back towards and test $10k next weekend. This rise, consolidate then dip cycle is very bullish imho. The laddering up is very apparent on the cloud. #dyor
Please explain me because I am stupid. How can your chart predict what will happen if there will be for example some major negative or major positive news? I am always very puzzled by so called chart experts (who always predicts two side movement lol) who never mention news. For me its like news run 90% of crypto market. For chart experts its like they never heard for news. Or perhaps I am just stupid and news doesnt mater. I feel i will hear now flame, but i dont got it, post like news doesnt matter. First of all..there are no stupid questions...ever. Secondly..you are correct..the chart is just representing "technical" data. The price movement over past cycles, be that either minutes, hours or days. It has no way to incorporate sudden real time events or news that may impact price other than a big green or red candle one way or the other. If you day trade the short term charts are affected the most by events or news. In the mid-term..these events have less impact..although it still can be severe. In the long term..daily news cycles still play a role but have significantly less sway over price and market direction. Those movements are already baked in so to speak. It comes back to physics imho..on a short time frame the inertia is low..so it can be moved with less effort. At longer time frames the market has built higher levels and it takes much more to change direction or momentum. Hope this helps. |
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Good morning guys. Indicators are relaxing as we catch support at the kijun line. This is a short term consolidation point and the market looks like it will head back towards the .382 fib line. I expect more sideways this coming week with moderate volume and volatility as we head back towards and test $10k next weekend. This rise, consolidate then dip cycle is very bullish imho. The laddering up is very apparent on the cloud. #dyor  |
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"87-year-old"... I don't think that anyone of that age can truly understand bitcoin.  Very true. Imagining a bridge between technologies that you have never experienced is a once in a every couple of generations event imho...or at least it was. Its highly likely that someone born today or in the near future could be that bridge of tomorrow. I can clearly remember the first television..the first phone I used, and reading out of a paper book about "computers". I have been fascinated by technology since I can remember..and I still am amazed daily at what we are doing on the cutting edge. Interesting article about it here I thought. I think many fall into this category when it comes to Bitcoin and its use. Time for more edumacation.  Here’s an experiment that fits all ages: approach your mother and father (if they’re asleep, use caution). Ask them gently about that time before you were born, and whether they dared think at that time that one day everybody will post and share their images on a social network called “Facebook”. Or that they will receive answers to every question from a mysterious entity called “Google”. Or enjoy the services of a digital adviser called “Waze” that guides you everywhere on the road. If they say they figured all of the above will happen, kindly refer those people to me. We’re always in need of good futurists.
The truth is that very few thought, in those olden days of yore, that technologies like supercomputers, wireless network or artificial intelligence will make their way to the general public in the future. Even those who figured that these technologies will become cheaper and more widespread, failed in imagining the uses they will be put to, and how they will change society. And here we are today, when you’re posting your naked pictures on Facebook. Thanks again, technology. http://freedomandsafety.com/en/content/blog/centaurs-future |
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Surprised this hasn't been batted around more. Another 10k+ baghodler joins the ranks at the Wall.. Welcome.  https://www.coindesk.com/chinese-angel-investor-amassed-10000-bitcoins-amid-q1-price-slump/"I only had single digit unit of bitcoin, just for fun in January. But when I got certain that bitcoin and blockchain is the future, I set the goal of holding 10,000 bitcoin. So I started around end of January to build my [holdings] following the price decline. The more it dropped, the more I bought in and now the mission is basically complete." And yet, you know who he is. I'm unsure what that says about you.
Your continued argumentum ad hominem tells much of you Bear...quite surely. Begone with you.  |
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Good morning Bitcoin. Future looks so bright I gotta wear shades.  Big stacks of cash keep flowing in and surprise..it's Wall Streets advice to not buy now...hrmm. All I hear is hodl on a little bit longer guys..still trying to fill our bags. https://cointelegraph.com/news/pro-btc-wall-st-analyst-urges-not-to-buy-crypto-now-despite-recent-rallyThe price is consolidating at a .236 fib level and I am seeing a possible small dip to gather up some liquidity in about 4 hours before testing $10k+.  Looking farther down the road, I am seeing a nice parabola taking us up towards the rim of a larger cup and handle. Seeing nice corrective consolidation points along the way indicates strength imho.  #dyor |
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Friday at last...for all you working schleps out here. Quit looking at the corns price and get back at it. Looks like a good time to buy the dip once this retrace completes. Plenty of strong support at this random .5 fib. I think we could possibly test the .618 level as well. I feel this is just gathering up liquidity and think we are still going over $10k in the near future but please do your own research.  This is just for comedic effect..ok? DONT PANIC. That being said..it is a possibility but data indicates more upward than downward pressure at this time. Have to move on from Barts to Thanos formations it looks like.  Some of the points and discussion's over the last several pages are good if opinionated. Just remember without scientific principles bitcoin would not exist. In other words..if you cant believe in math..why are you even here? Oh..and another smh moment.. The flat earthers believe there is a pac-man effect when walking off the "edge". Haven't heard a good theory for eclipses from them yet.. |
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I summoned all my strength and rotated Thanos' arm so you could get a better look. Took a lot out of me!
LOL! I guess just typing in.."hey dumbass..tilt your head a bit to the left" might have worked..dunno..I can be dense at times. +5 WOsMerits Thank you. -------------- Bitcoin This is a very crude way of illustrating my point..so take it for what it is.  That confirms it. If resistance turns to support at the .382 fib..we will rocket. 40 minutes to lift off.  #dyor #cryptouplift #btfd |
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TL/DR - When is Tesla going to turn a profit? A: Probably never.
The stock is probably worth <$50, if that.
I mean, you are probably right. I tend to agree, but one word of caution...we said exactly the same thing about Amazon for years. Off one order of magnitude jojo..  Yep..all the same old fucks that have ran up 21 trillion in debt for the US and 160 globally on this, the only planet we can live on for now. These same people can't accept the fact that some things are worth doing regardless of profit or cost. Times be a changin. ---------------- Not really related but apropos perhaps. I had this dream the other night..it went something like this.  |
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It is known that there is a group of elites out there who have a vision for the world that involves massive depopulation. They are not all powerful or anything like some Illuminati myths would have you believe. They are one faction out of maybe four major power factions on the planet. Their leaders are mostly Jewish intellectuals and can be thought of loosely as the neo-liberal establishment. It is reasonably safe to assume that at least some within that clique would be willing to accomplish the depopulation they desire through cataclysm if necessary. More imminently there is one coin about to wipe out 50% of all others.  +1 WOsMerit @xhomerx Does that Soul Stone need to be tilted a bit more the other way tho?  You might get most of my sMerits with your great art, but I like to give them to the non-legendary accounts when possible. And Infinity War was amazing..favorite MCU movie..so many funny, sad, amazing moments its hard to pick one..but the line "How long have you been standing there?" "A hour" cracked me up. Cant wait for #2. I tend to agree with this paragraph from the wiki. The most widely agreed-upon interpretation of the stones is that they describe the basic concepts required to rebuild a devastated civilization. Author Brad Meltzer notes that the stones were built in 1979 at the height of the Cold War, and thus argues that they may have been intended as a message to the possible survivors of a nuclear World War III. The engraved suggestion to keep humanity's population below 500 million could have been made under the assumption that war had already reduced humanity below this number. But..times have changed. I once thought I would not see 20 due to the Cold War. Thankfully we overcame that terrible future..for now. I pray often that we never see the like again. Population growth is already stabilizing due to a number of factors. Nat Geo has a good take on it although it be a few years old. https://news.nationalgeographic.com/news/2014/09/140918-population-global-united-nations-2100-boom-africa/Leaving "bread crumbs" for rebuilding society from the ashes of devastation is just prudent imho. Definitely going to share that map.
ok but we generally call them 'charts' +1 WOsMerit Speaking of... ------------ Bitcoin Stopping at a .382 fib for consolidation? Laddering up.  |
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Very cute. Love the miniaturized Bitcoin rocket!
It's not a miniature but a real image of the space shuttle Endeavor...slightly manipulated. https://www.truthorfiction.com/photo-shows-endeavours-final-launch-clouds/------------ Bitcoin Walks like a duck and talks like a duck..it must be a mastodon. Bitcoin pulls out of the pennant with a strong move upwards. Tested a fib line for resistance/support and now appears ready to climb higher as the smell of FOMO fills the air.  |
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dafuq is a bit conifer ?
 ------------- Bitcoin  |
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Didnt see it myself but damn...thats some exposure if true. Curious what the other choices were. https://twitter.com/ArminVanBitcoin/status/991876988712337408 ------------------ What do you prefer?
1st row: Bitcoin
2e row: Bits
3e row: mBTC
4e row: Satoshis
I prefer the first one myself. --------------------- Bitcoin Looks like another one to me.. Let's go bitcoin..time to shine.  |
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Classic "Mastadon" formation on the half hour breakout spotted. $10k seems to be calling.  Seeing the same structure forming on the 4h? Looking at the .618 fib retrace for a target short to mid term..but all of this is in play imho. Market sentiment is bullish and I think we are most likely heading upwards for now. Stepping back a bit..is this just a larger pennant forming? Starting to look like it..firm rejection at .786 indicates more consolidation...bullish. Will take another look later tonight.  #dyor meh..tired..lol. Dug up some of the garden, quite pitiful..think a nap is calling me.  Still fond of mister shovel tho.  There is a divergence:
This guy is calling it bearish... but I thought you follow the oscillator? Isn't this bullish? The RSI is up while the chart is down therefore buy?
I would recommend some more studying of TA. RSI and StochRSI are only good indicators when they are close to either the top or bottom of their range imho. This guy Crypto Cred is the cats meow for laying it out sweet and simple. I would check him out. https://www.youtube.com/channel/UCBaU9NXRPjkLGgJy-M7RPCwJust he's yt page..all of it is good. |
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https://uk.reuters.com/article/us-milken-conference-highlights/highlights-cftcs-giancarlo-at-milken-calls-bitcoin-craze-generational-idUKKBN1I247GCHRISTOPHER GIANCARLO, CHAIRMAN OF UNITED STATES COMMODITY FUTURES TRADING COMMISSION, ON BITCOIN:
“We need to take a moment and respect this generation’s interest in this new instrument (bitcoin). Not with derision, but with a little bit of attention and respect and respond with policy initiatives that really are thoughtful and forward looking.
“There is something going on here that is generational. Just as the baby boomer generation lost faith in the leaders that came before them and tried to seek a cultural change in those days through sex, drugs and rock and roll, I think there is a generation that also has lost faith in us that led them through the financial crisis and they see technology as a way of disintermediating institutions for which they don’t have a great deal of respect. +1 WOsMerit Giancarlo MICHAEL PIWOWAR, COMMISSIONER AT THE U.S. SECURITIES AND EXCHANGE COMMISSION, ON INITIAL COIN OFFERINGS:
“Is an ICO a security? And so far, as our chairman has said, everyone that he has looked at, everyone I have seen is a security.
“If (an ICO token) is a security, then it falls into three buckets. The first is the registered public offerings; this is the normal IPO, public offer. We’ve not had anybody register a public offering for an ICO. The next bucket is exempt offerings, so if you have an ICO, you have to fit into one of those types of exempted.
“And the third bucket is illegal. And if you are not falling into the first two buckets, we’ve said we’re coming after you. Bitcoin itself is not a security but these customized tokens for these initial coin offerings, most of them are. There is some legitimate stuff going that is on and then there is literally the fraud ones.” +1 WOsMerit SEC (One of those sentences I never dreamed of writing) Tweeted this awhile ago..sorry..got caught up reading and writing. Short term update. Looking at a interesting wave pattern. Healthy consolidation continues as support holds at $9k+. A possible move above the clouds is showing on the hourly after a Vegeta btfd opportunity. So..sideways for a few more hours followed by a dip into liquidity and then a rocket launch.  That escalated quickly.   +1 WOsMerits for all the nice boat pics. Its such a beautiful today I have to get back outside.
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Any analysis regarding whether bitcoin is gonna do a long bear market for 1-2 years, or is going to go sideways and/or upwards from here?
It will not be a long Bear market for 1-2 more years. Could we have another "bearish" month or two...yes. Imho, either Bitcoin grows to become a global asset class or something else will replace it that can. By growth I mean reaching and sustaining a value where institutional and sovereign entities have enough self-interest to support it. Once a layer for truly anonymous transactions is developed, tested and deployed for bitcoin, it will go ballistic. I hate to say it as it is so cliche but we are at a critical junction. The balancing act of growing fast enough to retain current users and promote new adoption and not growing so fast as to be perceived as a threat to said entities is a tight-rope walking act of incredible complexity. My best guess is it will fall somewhere between the orange and yellow lines I have illustrated. Stepping back and looking at longer times frames indicates we are right on the edge of a substantial growth period. My recent frustration with short term price action has made me realize that I am emotionally over invested. Time for a break and to do some sailing. dyor and ymmv. Peace.  |
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A trailing indicator is about to cross over. Looks like we will test support levels again. dyor. Hard to recommend buying the dip when it keeps dipping. Hopefully a clear bottom will present itself in the next couple of weeks.  |
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https://twitter.com/stlouisfed/status/990689717384613894https://research.stlouisfed.org/publications/review/2018/02/13/the-case-for-central-bank-electronic-money-and-the-non-case-for-central-bank-cryptocurrencies?&utm_source=Twitter&utm_medium=SM&utm_term=other&utm_content=pub&utm_campaign=3599Conclusion
The distinguishing characteristic of cryptocurrencies is the decentralized nature of transaction handling, which enables users to remain anonymous and allows for permissionless access. These key characteristics are a red flag for central banks, and we predict that no reputable central bank would issue a decentralized virtual currency where users can remain anonymous. The reputational risk would simply be too high. Rather, central banks could issue central bank electronic money. This money would be tightly controlled by them, and users would be subject to standard KYC ("know your customer") and AML ("anti-money laundering") procedures.
Some central banks supposedly are evaluating the issuance of a central bank cryptocurrency. However, a closer look at these projects reveals that these are not cryptocurrencies according to our definition in Figure 1. The projects usually are highly centralized.
In general, we don't think that a central bank should be in the business to satisfy the demand for anonymous payments. We believe that such a demand can and will be perfectly satisfied by the private sector, in particular through cryptocurrencies. History and current political reality show that, on the one hand, governments can be bad actors and, on the other hand, some citizens can be bad actors. The former justifies an anonymous currency to protect citizens from bad governments, while the later calls for transparency of all payments. The reality is in between, and for that reason we welcome anonymous cryptocurrencies but also disagree with the view that the government should provide one.  Its the last paragraph that really caught my attention.
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