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Author Topic: The boat left on May 2, now is the time to sell  (Read 152 times)
cocoadreamboy
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May 22, 2019, 06:56:04 PM
 #1

The optimal safe buy of bitcoin in the past month was May 2. That was when the price was most supported by the fundamentals. Now you are looking at a 47% loss on your bitcoin investment. Now is the time to take profit and wait for the price drop.

My metrics:

https://www.amsinger.org/subscriber-data

I hope you enjoy Smiley

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Tytanowy Janusz
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May 22, 2019, 09:19:30 PM
Merited by Oilacris (1)
 #2

The optimal safe buy of bitcoin in the past month was May 2. That was when the price was most supported by the fundamentals. Now you are looking at a 47% loss on your bitcoin investment. Now is the time to take profit and wait for the price drop.

My metrics:

https://www.amsinger.org/subscriber-data

I hope you enjoy Smiley

On May 2 bitcoin was fighting with strong resistance. It could fail to break it and return to 3k forming beautiful bart formation. And you call it optimal safe buy? Its very easy to say that it was good to buy at May 2 when we have May 22 currently.




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FIND OUT MORE AT MINTDICE.COM
Whaleagent
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May 22, 2019, 09:31:15 PM
 #3

Time to sell Bitcoin and buy BNB? Nah I don't think so, technical analysis shows a strog uptrend, some consolidation is overdue but that only means a cheaper price to buy more. I'm personally not selling unless $6913 breaks on Binance, it's the last daily support and we are not even close to it. If it breaks I will be looking to buy the dip, seems like a no brainer right now, daily/weekly/yearly charts on uptrends.

cocoadreamboy
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May 22, 2019, 09:35:16 PM
 #4


On May 2 bitcoin was fighting with strong resistance. It could fail to break it and return to 3k forming beautiful bart formation. And you call it optimal safe buy? Its very easy to say that it was good to buy at May 2 when we have May 22 currently.

With the metrics on my site, you can predict the level of speculation and the possible loss of your investment. When a miner buys a mining rig and runs it he is basically preordering bitcoin at that price. With that knowledge you can know what price the major players (whales) are buy bitcoin at. Then you compare that price with the current bitcoin price and you have an understanding of how much speculation is in the market. Look at my site, the floor price is the whale price, the bitcoin price is the retail price.

https://www.amsinger.org/subscriber-data

Whales are smart and effective people. They plan many months/years in the future, and have invested millions into mining.

If you want true bitcoin data and research checkout my site:
https://www.amsinger.org
cocoadreamboy
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May 22, 2019, 09:40:00 PM
 #5

Time to sell Bitcoin and buy BNB? Nah I don't think so, technical analysis shows a strog uptrend, some consolidation is overdue but that only means a cheaper price to buy more. I'm personally not selling unless $6913 breaks on Binance, it's the last daily support and we are not even close to it. If it breaks I will be looking to buy the dip, seems like a no brainer right now, daily/weekly/yearly charts on uptrends.

Time to sell BTC for cash and wait for the proper time to rebuy. The speculation in the market is sky high. It will drop back down to at least 6k if not significantly lower based on the new machines coming out. Just wait the fall will come soon and hard. The new machines started shipping from Bitmain May 21. Bitmain has been mining with S17's now since April. I believe we are looking at another Nov 2018.

If you want true bitcoin data and research checkout my site:
https://www.amsinger.org
Tytanowy Janusz
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May 22, 2019, 09:52:43 PM
 #6

Time to sell Bitcoin and buy BNB? Nah I don't think so, technical analysis shows a strog uptrend, some consolidation is overdue but that only means a cheaper price to buy more. I'm personally not selling unless $6913 breaks on Binance, it's the last daily support and we are not even close to it. If it breaks I will be looking to buy the dip, seems like a no brainer right now, daily/weekly/yearly charts on uptrends.

Time to sell BTC for cash and wait for the proper time to rebuy. The speculation in the market is sky high. It will drop back down to at least 6k if not significantly lower based on the new machines coming out. Just wait the fall will come soon and hard. The new machines started shipping from Bitmain May 21. Bitmain has been mining with S17's now since April. I believe we are looking at another Nov 2018.

1. Aren't they selling their mining hardware only for bitcoin? So new hardware means that all mining companies will have to buy bitcoin to buy hardware?
2. Who told you that bitcoin price is based on mining hardware? Based on lower mining cost? that has nothing in common with bitcoin market price. Bitcoin mining reward is equal to 50k btc per year. Thats less than 2% of daily volume and you assume that better hardware will dump bitcoin by 40%?

Price is pumped heavy and we should see correction but it may be horizontal correction without significant drop. There are tons of possibilities. And you are so sure about your story...






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cocoadreamboy
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May 22, 2019, 10:05:30 PM
 #7

Time to sell Bitcoin and buy BNB? Nah I don't think so, technical analysis shows a strog uptrend, some consolidation is overdue but that only means a cheaper price to buy more. I'm personally not selling unless $6913 breaks on Binance, it's the last daily support and we are not even close to it. If it breaks I will be looking to buy the dip, seems like a no brainer right now, daily/weekly/yearly charts on uptrends.

Time to sell BTC for cash and wait for the proper time to rebuy. The speculation in the market is sky high. It will drop back down to at least 6k if not significantly lower based on the new machines coming out. Just wait the fall will come soon and hard. The new machines started shipping from Bitmain May 21. Bitmain has been mining with S17's now since April. I believe we are looking at another Nov 2018.

1. Aren't they selling their mining hardware only for bitcoin? So new hardware means that all mining companies will have to buy bitcoin to buy hardware?
2. Who told you that bitcoin price is based on mining hardware? Based on lower mining cost? that has nothing in common with bitcoin market price. Bitcoin mining reward is equal to 50k btc per year. Thats less than 2% of daily volume and you assume that better hardware will dump bitcoin by 40%?

Price is pumped heavy and we should see correction but it may be horizontal correction without significant drop. There are tons of possibilities. And you are so sure about your story...




Daily volume is massively inflated, to trust cmc's daily volume is insane. Really just Coinbase, bitstamp, maybe binance, and a few others have actual volume.

1. You can buy hardware with wire transfer or BCH I believe right now, but you can only buy ELECTRICITY with cash.
2. The bitcoin price is not, but the fundamental floor price is based on standard operating costs for the bitcoin network. That is the price the bitcoin price can not pass. The bitcoin price is based on speculation and nonsense pump and dump, but the floor price is the investment price for bitcoin.

There will be significant drop unless the hash rate sky rockets. The miners are almost making 50% profit on the fools buying now Smiley

If you want true bitcoin data and research checkout my site:
https://www.amsinger.org
sunsilk
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May 22, 2019, 10:24:32 PM
 #8

Seems good, price goes down to $7600 again. I've already sold a couple because I'm in need for some cash. Didn't expect this to come but looks viable with your prediction and the market's reaction exactly go as what you say.

Time to sell BTC for cash and wait for the proper time to rebuy.
As usual, sell when it seems good to take profit and just wait for a couple of hours or days for the buying back.

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Ailmand
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May 22, 2019, 10:34:22 PM
 #9

I will still hold some of it because I could see a good potential in the market's current situation. I believe that things could go even better in the future. There are speculations that prices might drop down anytime but I think the recovery period will not take that long.

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Tytanowy Janusz
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May 22, 2019, 10:36:57 PM
 #10

Who told you that mining have to be profitable for mining companies?
Bitcoin price is based only on supply and demand. When it will pass mining cost low efficient mining companies will quit lowering hashrate for stronger one. Your non breakable fundamental price is broken then.

Its still only 50k btc annually. Daily volume on binance... ~20% of daily volume on bitmex... it's like stepping on a piece of Iego with bare feet. It won't kill you...




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cocoadreamboy
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May 22, 2019, 10:54:18 PM
 #11

I will still hold some of it because I could see a good potential in the market's current situation. I believe that things could go even better in the future. There are speculations that prices might drop down anytime but I think the recovery period will not take that long.

You should make your own decisions, I just present the price floor so that you can properly calculate your risk. Something no one has effectively been able to do calculate the risk inherent in their crypto portfolio.

Aaron

If you want true bitcoin data and research checkout my site:
https://www.amsinger.org
cocoadreamboy
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May 22, 2019, 11:00:26 PM
 #12

Seems good, price goes down to $7600 again. I've already sold a couple because I'm in need for some cash. Didn't expect this to come but looks viable with your prediction and the market's reaction exactly go as what you say.

Time to sell BTC for cash and wait for the proper time to rebuy.
As usual, sell when it seems good to take profit and just wait for a couple of hours or days for the buying back.

I made the price floor metric so that I know what my risk is in my crypto trading. I hope that others use it to understand what risks they are taking in these markets. right now we are looking at a 45% loss compared to what the miners have paid for their coins (more if they are selling coins they mined Jan, Feb, and March).

Stay safe my friend Smiley

If you want true bitcoin data and research checkout my site:
https://www.amsinger.org
Oilacris
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May 22, 2019, 11:04:03 PM
 #13

The optimal safe buy of bitcoin in the past month was May 2. That was when the price was most supported by the fundamentals. Now you are looking at a 47% loss on your bitcoin investment. Now is the time to take profit and wait for the price drop.

My metrics:

https://www.amsinger.org/subscriber-data

I hope you enjoy Smiley

On May 2 bitcoin was fighting with strong resistance. It could fail to break it and return to 3k forming beautiful bart formation. And you call it optimal safe buy? Its very easy to say that it was good to buy at May 2 when we have May 22 currently.
Exactly! People do really love to have those kind of proud claims on telling about their previous and when the price hits up according on
what they had predicted they do promote some sort of websites or whatsoever been tagged up.Safe buy? There would be no such thing
yet trying to break those resistance do still considered as gamble or risky.



.
.BIG WINNER!.
[15.00000000 BTC]


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cocoadreamboy
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May 22, 2019, 11:08:55 PM
 #14

The optimal safe buy of bitcoin in the past month was May 2. That was when the price was most supported by the fundamentals. Now you are looking at a 47% loss on your bitcoin investment. Now is the time to take profit and wait for the price drop.

My metrics:

https://www.amsinger.org/subscriber-data

I hope you enjoy Smiley

On May 2 bitcoin was fighting with strong resistance. It could fail to break it and return to 3k forming beautiful bart formation. And you call it optimal safe buy? Its very easy to say that it was good to buy at May 2 when we have May 22 currently.
Exactly! People do really love to have those kind of proud claims on telling about their previous and when the price hits up according on
what they had predicted they do promote some sort of websites or whatsoever been tagged up.Safe buy? There would be no such thing
yet trying to break those resistance do still considered as gamble or risky.

Look at my site man, I didn't just pick May 2 out of a hat my algo told me. Buying bitcoin at a 15% premium to the whales is a good deal. Especially if FOMOers are willing to buy bitcoin at 7k to 8k. Look at the data my friend and tell me it isn't easy to see:

https://www.amsinger.org/subscriber-data

I will mortgage my house to buy bitcoin if the price touches the new efficiencies that are coming out May 24 Smiley people are willing to buy it at massive markups because they don't know how much OTC bitcoin actually costs.

If you want true bitcoin data and research checkout my site:
https://www.amsinger.org
STT
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May 22, 2019, 11:20:43 PM
 #15

Theres never one date to absolutely buy or sell, its not that precise as the market is mixed all over the world.   Some people in some countries have awful FIAT currency and should just stick with BTC to be fair and some other nations have a great quality of money to switch to at least temporally though every part of the world is suffering from excess dollar liquidity imo

I wouldnt advise abandoning BTC altogether if that was the suggestion, Im not that bearish.  I think we go more sideways then easily in one direction

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cocoadreamboy
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May 22, 2019, 11:28:46 PM
 #16

Theres never one date to absolutely buy or sell, its not that precise as the market is mixed all over the world.   Some people in some countries have awful FIAT currency and should just stick with BTC to be fair and some other nations have a great quality of money to switch to at least temporally though every part of the world is suffering from excess dollar liquidity imo

I wouldnt advise abandoning BTC altogether if that was the suggestion, Im not that bearish.  I think we go more sideways then easily in one direction

On my site I explain the Fundamental method. I am a proponent of controlled partial buys see this page of my site:

https://www.amsinger.org/fundamental-method

But the day to make the big 10-15% buy this month was May 2 Wink Sometimes it is good to be out of crypto and breath safe and free. Especially when it is massively speculative and we are about to go into an efficiency upgrade like we are about to soon. I made my site to help people understand this and to lower the stress level involved. If I was in a foreign country (not the US) I would move as much as I can into USD right now or the coin USDC.

If you want true bitcoin data and research checkout my site:
https://www.amsinger.org
STT
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May 22, 2019, 11:49:41 PM
 #17

Quote
I would move as much as I can into USD right now or the coin USDC.
I really dont favour USD long term, the country itself sure but not the political debt and that situation resolving to a positive value vs other assets.   But as a trade sure, I'm more inclined to say buy gold which was the original backing to USD.   So yea Im wrong for muddling fundamental opinion with a short term trade

One day dollar wont go up when other things go down (its already too high and held there artificially) , its overvalued ironically on  its supply vs demand and the main support is carrying debt and not balancing the books today based on deficits

Quote
controlled partial buys

sounds good

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sunsilk
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May 22, 2019, 11:57:22 PM
 #18

Seems good, price goes down to $7600 again. I've already sold a couple because I'm in need for some cash. Didn't expect this to come but looks viable with your prediction and the market's reaction exactly go as what you say.

Time to sell BTC for cash and wait for the proper time to rebuy.
As usual, sell when it seems good to take profit and just wait for a couple of hours or days for the buying back.

I made the price floor metric so that I know what my risk is in my crypto trading. I hope that others use it to understand what risks they are taking in these markets. right now we are looking at a 45% loss compared to what the miners have paid for their coins (more if they are selling coins they mined Jan, Feb, and March).

Stay safe my friend Smiley
Thanks with that reminder and I just did it on my own verdict before I have read your analysis. Every time I see an individual that gives his TA and if it's accurate, I'm admiring it.

Wanting to see more of your TA's soon in here or just keep this thread updated and just change the title.

I wouldnt advise abandoning BTC altogether if that was the suggestion, Im not that bearish.  
I don't think that he's suggesting to abandon but he's reminding us to take profit. And after that, wait until the price drops so that you can have a good reentry to the market and then start buying again. I'm not bearish also but it's also good to take some profits sometime.  Grin

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May 23, 2019, 01:01:42 AM
 #19

The optimal safe buy of bitcoin in the past month was May 2. That was when the price was most supported by the fundamentals. Now you are looking at a 47% loss on your bitcoin investment. Now is the time to take profit and wait for the price drop.
Good luck with your metrics, i am not sure what fundamentals you are talking about, if you think that the price of bitcoin will drop in the next few days after a strong recovery like this, it is possible that the market might face some sell orders, but it is not a big issue right now, the market will recover eventually by the end of this year, majority of the people who are smart enough to understand the market are in for the long haul. Wink
cocoadreamboy
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May 23, 2019, 01:12:45 AM
 #20

The optimal safe buy of bitcoin in the past month was May 2. That was when the price was most supported by the fundamentals. Now you are looking at a 47% loss on your bitcoin investment. Now is the time to take profit and wait for the price drop.
Good luck with your metrics, i am not sure what fundamentals you are talking about, if you think that the price of bitcoin will drop in the next few days after a strong recovery like this, it is possible that the market might face some sell orders, but it is not a big issue right now, the market will recover eventually by the end of this year, majority of the people who are smart enough to understand the market are in for the long haul. Wink

Enjoy playing in the speculation. I will wait until the speculation dies down and make my buys when the price is right. I will patiently wait for the next May 2 Smiley

With that hodl mentality you are leaving so much bitcoin on the table. You phase in and phase out, to hodl is reckless and inefficient.

If you want true bitcoin data and research checkout my site:
https://www.amsinger.org
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