30,000 Looks Like The Key
My feelings towards Bitcoin have been expressed here a number of times. In the past(before I was on this site) I had called some of the temporary tops when the chart went parabolic, but have been surprised by it’s resiliency. I have never bought and never will. I just took another look at the chart to confirm something I knew to be likely and fairly obvious. In all of it’s swings, at least since maybe it’s very early days, whenever Bitcoin had a major top and significant selloff, it has always gone on to make a new high and More Importantly, stayed above the previous correction low.(classic definition of a continuing bull market) So, while I don’t know if this will be the time or not, if Bitcoin, after having made a new ATH recently, above the one made in early April, were to fall BELOW the 29,700 low made in July, it would be the first time a new high was followed by a breakdown below a previous correction low. If that happens, the unwind of this Ponzi scheme could happen rather quickly. Got GOLD!
Got GOLD??? You mean that all-time loser position? THAT gold??? The one thing that is guaranteed to clean your clock and kick you to the side of the road? A losers game in the Ponzi scheme.
Heading to $1750…
The more I watch and understand Mr. Market I have come to the conclusion that Mr. Market is an asshole.
Not going anywhere near $1750.
Not slamming bitcoin here, but recently saw an article about a group of 40 something woman who were in a bitcoin investment group going out to dinner every week. This struck me. I have never seen this type of investor sentiment turn out well. First just to have the group then to actually report about it in the media. Sounds like ending action to me.
Exactly, Sir Plunger!
In the same light, here’s Peter Schiff trying to “save” everyone from the BitCon … https://www.youtube.com/watch?v=YaNXa4yLv-w
Rather long and many times repetitive arguments from both sides …
GL