I kinda took Blitz's advice here, and glad I did. 24 hr volume has fallen to 50% of what it was a few days ago. Failure to break 2750 with any real momentum. Then it flattened sideways at 2700 (always a sign for a sudden move). Technicals signaling a retest of previous levels.
The low volume made the market feel exhausted to me. And if ETH doesn't hold $300, it's going to start a domino effect and it will get very ugly in the altcoin market. I agree, it's wise to watch Ethereum because I believe it to be the biggest bubble of all. And I think everything in the crypto world will move down together, but Bitcoin will fall less than others and regain its dominance during the bear market. |
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Blitz calling another bear market, dang.
This time he was right though  . Nah, last time I was right. This time, we shall see. |
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You have been warned about the meaning of 2780.
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2780 likely confirmed as the bull trap "return to normal" top following the 3k bubble top.
Price should pierce 2000 now.
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Watch closely. This is how death begins.
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Thank you Joerii, it means a lot to me when people who have been around for a longer time realize the nature of markets that there are periods with low risk/reward and periods of high risk/reward and you don't necessarily have to expose yourself to the latter.
I agree with you trading on pure emotion is bad. But, as you gain more experience, I find that emotions or notions, if they persist for a longer time, then it's because you sense that something isn't right.
For 20 months, I have had peace with my Bitcoin position, not even bothering to check on it too much save for the latest craze. But as all the information sunk in and the most likely scenario began to unfold, I could not have possibly fallen asleep while hodling this bag.
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Everyone looking forward to the weekend dumps?
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Anyone heard of that USD altcoin? It's said to be the world's reserve currency and one of the few hard fiat currencies with only around 2% inflation p.a. I'm really bullish on the BTC/USD pair, I expect the USD to rise some more.
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blitz? is that you?? still not believing the triple digit lie?  I'd probably change my name too after the "no more triple digits in 2013" thing. I always found it quite surprising how we could have a quasi-bear shill as a moderator... go figure? It was me who was bullish the entire time since the 200s until now while people like you were pissing their pants. Go look it up. What you don't understand is that there are less risky (low risk, high reward) and more risky (high risk, low reward) times to be a hodler. Guess which time is now. Sorry man, I'll never get sick of reminding you about the "triple digit lie" you highlighted in summer 2013. it literally spent 3.5 years in the triple digits after you said that. My main concern is ETH fucking up once too often and somehow screwing up bitcoin in the process. So much money is getting thrown in the fire with these scam ICOs. And I expect a little turbulence in July before UASF kicks in. Hopefully the pathological miners don't do anything stupid like fork themselves into oblivion or continue to mine legacy. No problem man, nostalgia is always welcome. Yeah, I agree with you on both counts. We've got to shake off those scamcoins and get miners back in line. |
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blitz? is that you?? still not believing the triple digit lie? I'd probably change my name too after the "no more triple digits in 2013" thing. I always found it quite surprising how we could have a quasi-bear shill as a moderator... go figure? It was me who was bullish the entire time since the 200s until now while people like you were pissing their pants. Go look it up. What you don't understand is that there are less risky (low risk, high reward) and more risky (high risk, low reward) times to be a hodler. Guess which time is now. |
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This is good to refill on those cheap $$$
FTFY |
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Looks like the weak hands are leaving bitcoin for the hodlers. They can tell their grandchildren that they invested in bitcoin way back in 2017 when it was only 4 digits but they got scared when the price dropped so they sold it all.
Strong hands hodl USD now. |
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Please stop it.
You can stop the pain by unloading your heavy bags. We need a bear market to purge this market of altcoin malinvestments and regain Bitcoin dominance by scaling with Segwit and Lightning. |
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Great analysis. I however believed that we had already been in a bearish market for quite a while now.
I agree on the 3k number, seems likely not to break for a while. But that's not a bad thing either. Give BTC and other crypto to keep focusing on what is important rather than increasing price and counting dosh.
Look at the crash of 2014 and how much was done for and around BTC and crypto. That is what got us to this point so one could hope for another crash perhaps.
You bring up a great point. Sentiment in Bitcoin was actually bearish the whole time during the rise. I think the rise may have been brought to us by the altcoin hype, and without them, we would have fallen in price. Now that the altcoin hype dies down … And yes, this is going to boost Bitcoin's fundamentals in the longer term. We need to solve scaling, and to do that, we need to apply lots of pressure. Price decline is good pressure. |
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Why I see a global crypto bear market coming: 1. Charting: Daily. The daily 20 SMA that has supported this entire uptrend was broken with yesterday's close. The move towards 3k was riddled with weakness that displayed itself in multiple bearish divergences on the daily RSI. Weekly. On the weekly timeframe, whlie not yet confirmed, it is likely we will both have the first red candle and the first time closing below the upper Bollinger Band. 2. Altcoin and ICO bubble. When there are $150 million ICOs, there is nothing more to say. Looking at Ethereum, it has pierced its 300 low, an entirely new behaviour in its chart highly suggestive that its bubble has popped. We all know Bitcoin was bought to buy into altcoins. When the altcoin hype fades, so does demand for Bitcoin. 3. Psychologically, 3k is a round number and probably such a strong resistance that people will view it as unlikely to reach it again. Update: Here is my comparison of 2013 vs 2017. 2013 bubble daily: https://i.imgur.com/ML9r1UH.png2013 bubble weekly: https://i.imgur.com/ngS4fIk.png2017 bubble daily: https://i.imgur.com/43qNlTn.png2017 bubble weekly: https://i.imgur.com/QcieybK.png |
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Bubble has most probably popped. Get ready for a global crypto bear market.
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Bitcoin is hard money. Immutable, uncompromisable, true.
Ethereum is soft flaccid Buterin cock some shills are temporarily sucking.
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Happy April Fools to all the altcoin bagholders. Long Live BTC You mean Bytecoin. |
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