$3000 is the critical level - video analysis

[RobJ]

This trader has made a cool video looking at where the price goes from here.

https://www.facebook.com/thesharesguy/videos/1930445450542928/

[1714896143]

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[1714896143]

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[1714896143]

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[player514]

This trader has made a cool video looking at where the price goes from here.

https://www.facebook.com/thesharesguy/videos/1930445450542928/

I like the analysis and how it was presented and all, but I think the drops in the 3000 initial stop is not comprable to what is happening now. The dips then were caused by buy/sell orders from Bitcoin holders. The dips now are caused by the reaction to the news about China. I think these are two very different dips and the same logic cannot be applied to both.

[Question123]

Today price of bitcoin is 3900 dollars and I hope its happen to reach again 5k dollars. Yesterday Bitcoin near at 3k dollars and for sure those people buy bitcoin again at that price they earn profit because they believeb bitcoin that increase again. More bitcoin more money so its better to buy bitcoin as of now and you will be happy for the result. But it depends to you if you buy bitcoin. Analysis video is good.

[RobJ]

This trader has made a cool video looking at where the price goes from here.

https://www.facebook.com/thesharesguy/videos/1930445450542928/

I like the analysis and how it was presented and all, but I think the drops in the 3000 initial stop is not comprable to what is happening now. The dips then were caused by buy/sell orders from Bitcoin holders. The dips now are caused by the reaction to the news about China. I think these are two very different dips and the same logic cannot be applied to both.

Technical analysis is always about buy/sell orders. If the bad news about China was the reason for the huge drop, then what is the "news" reason for the 20% price rise from 3000? Was there suddenly some great news from China? The point is that chart patterns tend to repeat themselves within and across markets, and Bitcoin is still following a typical path for an investment undergoing a parabolic boom. It takes some truly earth-shattering news (bigger than China) to suddenly disrupt such patterns.

[thejaytiesto]

This trader has made a cool video looking at where the price goes from here.

https://www.facebook.com/thesharesguy/videos/1930445450542928/

I like the analysis and how it was presented and all, but I think the drops in the 3000 initial stop is not comprable to what is happening now. The dips then were caused by buy/sell orders from Bitcoin holders. The dips now are caused by the reaction to the news about China. I think these are two very different dips and the same logic cannot be applied to both.

Technical analysis is always about buy/sell orders. If the bad news about China was the reason for the huge drop, then what is the "news" reason for the 20% price rise from 3000? Was there suddenly some great news from China? The point is that chart patterns tend to repeat themselves within and across markets, and Bitcoin is still following a typical path for an investment undergoing a parabolic boom. It takes some truly earth-shattering news (bigger than China) to suddenly disrupt such patterns.

The bullish news is the very fact that china is out. It already happened, therefore there is nothing to fear now. No more PBOC crap dumping the price at will as they used to do. This is the same thing as the saying goes "getting a weight off your shoulder". Similar to how the market tanked when Mike Hearn said BTC was dead, but post-news it is bullish because we got rid of his influence on the price.

Jamie Dimon also dumped the market only to buy cheap later, which should make his word illegitimate next time, but of course, you can never count out the stupidity of a lot of people in the market, panic sellers will always remain panic sellers.

[taxmanmt5]

I like the video but I think you need to combine a few other aspects perhaps as an overlay. Obviously this China rumor that turned out to be absolutely nothing you had a great deal to do with the price changes over the past week. The same thing of months ago with the fork. There is always some outside rumor or some outside source that making a change and it might just be that this is coinciding with the $3,000 mark.

[Omega Weapon]

I like the video but I think you need to combine a few other aspects perhaps as an overlay. Obviously this China rumor that turned out to be absolutely nothing you had a great deal to do with the price changes over the past week. The same thing of months ago with the fork. There is always some outside rumor or some outside source that making a change and it might just be that this is coinciding with the $3,000 mark.

The difference is that the rumor that China was going to ban bitcoin was just that a rumor, but the forks are not rumors, a fork did indeed happen in August and now it seems another fork is coming in November and if that happens we will have another coin competing against bitcoin and its supremacy and that will make the price drop in the short and the long term.

[johndoe784r]

Fork made price go UP last time...

[fabiorem]

Fork made price go UP last time...

Yes, but this time Garzik will not implement replay protection.

So anyone spending it will spend its own bitcoins, but cloaked as his S2X altcoin.

Just imagine people dumping thousands of bitcoins by 1/10 its current price, thinking it would be BCash 2.0. It would be a massive dump. The price would go to the ground.

Garzik should be stopped.

[johndoe784r]

I don't understand could you please kindly elaborate?

[johndoe784r]

Didn't mean to double post but who in their right mind would not read up on the fork before spending bitcoins&getting involved with it?

[allohha]

Fork made price go UP last time...

Yes, but this time Garzik will not implement replay protection.

So anyone spending it will spend its own bitcoins, but cloaked as his S2X altcoin.

Just imagine people dumping thousands of bitcoins by 1/10 its current price, thinking it would be BCash 2.0. It would be a massive dump. The price would go to the ground.

Garzik should be stopped.

such impression that in the near future in the street is not expected a grandiose agiotage, which is not very good for Bitcoin. If we take into account the current situation with the Chinese side, then we need to pay attention to the forecasts of the next split bitcoin. All together will be very deplorable for crypto currency users ..

[edmond_dantes]

we survived 3000 does that mean we are going back to 5000 it might be

[johndoe784r]

Fork made price go UP last time...

Yes, but this time Garzik will not implement replay protection.

So anyone spending it will spend its own bitcoins, but cloaked as his S2X altcoin.

Just imagine people dumping thousands of bitcoins by 1/10 its current price, thinking it would be BCash 2.0. It would be a massive dump. The price would go to the ground.

Garzik should be stopped.

such impression that in the near future in the street is not expected a grandiose agiotage, which is not very good for Bitcoin. If we take into account the current situation with the Chinese side, then we need to pay attention to the forecasts of the next split bitcoin. All together will be very deplorable for crypto currency users ..

Etymology   Edit
From French, from agioter (“to practice stockjobbing”), from agio

Noun   Edit
agiotage (plural agiotages)

(dated, trading) Stock exchange business; especially, stockjobbing, manipulation of securities prices.



..for anyone who didn't catch that..

Haha not every day I learn a new word on bitcointalk... usually I forget them... :-S

Yes it could be bad but it COULD also go very well!

Remember all the negativity close to the last fork?! Omg it's going to plummet we hit the peak the end is near.

Then it doubled.

Just saying..