You are again saying victory too early xD
I know you love Ltc, i also do. I know optimism is healthy and important for humans, but we are in the midst of a bursting bubble downtrend and trading right now is very risky lol.
There are plenty of waves to exploit though.
JoshuaVanier
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@Giorgioversace, "we are in the midst of a bursting bubble" - don't think this is consensus for where we are
Giovi6969
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@JoshuaVanier,
When you have a look at the Cryptocurrencies market cap since 1 year, you don't see a bubble pattern? lol
JoshuaVanier
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@Giorgioversace, When I look at specific coins like BTC, I don't see a break of the major trendline, the last retracement did not break the trendline it has been on for a few years.
Giovi6969
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@JoshuaVanier,
Perhaps, so thanks to this trendline, Btc does not appear to be inside a bubble to you?
Even if you have a look at the cryptocurrencies market cap pattern since 10 years and realise how the last 6 months pattern form looks like?
JoshuaVanier
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@Giorgioversace, What I would say, is "we are in the midst of a bursting bubble" would be proven to me if we broke that major trend-line, if not I don't see why we couldn't go to 35K-50K or further for BTC (and the corresponding market cap those numbers would equate to) before "bursting"
Basically, just of the opinion that we have more legs up before the bubble truly bursts and we see a break of the major trendline.
What do you think of AAlFadhala, Feb 16th post, "BTCUSD, 1W EDUCATION Ellen DeGeneres Introduces Bitcoin To Millions of Viewers!", placing us still within the awareness phase of bubble chart?
Giovi6969
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@JoshuaVanier,
Nasdaq composite doesnt seem to have its major trendline having ever been broken too lol, and see what happend in 2000. Sure, it reached the 5k Usd back, and even moved higher. I don't know if you want to hypothetically hold some crypto coins for 15 years hoping it will get higher than 20k in 15 years, i personnaly don't.
I red her article but found it to be irrevelant as she doesn't back up anything she says, she just threw up some informations as a taxi driver would do, to make a buzz and sell her books, it's just some useless words inside of a garbage article to me.
JoshuaVanier
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@Giorgioversace, What you were referencing at the end of this comment isn't related to what I was saying, you do have a compelling point about the Nasdaq Composites major trendline (it will be fun in hindsight, to see if these comparisons to the Nasdaq play out the same way), the one place I would push back on is the time frame, the pace at which BTC is correcting, or has corrected, depending on POV, is happening much quicker than the Nasdaq chart, so I don't believe it would be a 15 year wait.
Giovi6969
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@JoshuaVanier,
Yep Cryptocurrencies are much "faster" to create trends and gobal patterns than other Stocks, so it might need 1,2,5 years instead of 15 to recover after an eventual crash, who knows.
Alright i checked the TA, so to this Ellen, we are at the start of the Bubble?
To me we already had the awareness phase, media attention, enthusiasm and greed, November and December is perfect to represent this greed and enthusiasm period.
We seem to be in the midst of the capitulation phase of this Btc bubble, assuming there might possibly be other ones incoming.
JoshuaVanier
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@Giorgioversace, Just to give you proper context, Ellen is a TV host with a huge multi million person audience in North America, what AAlFadhala was giving us is a different look at where we are on the bubble chart. Similar to how I think, I think the market cap of the crypto space is too small to burst yet, I also believe that what we saw in Nov/December is partly an artificial pump, but still within the awareness phase of the market. He's putting this retracement BTC just did as the initial first sell off, the bear trap, prior to us getting into the real mania phase.
Take a steap back and envision the idea that we are still in the awareness phase, if we entered a consolation phase for BTC and we start another bull run, imagine the reaction we would see to this market in the early summer of 2018? Imagine the reaction to BTC topping 17K or 20K?
Now clearly this is speculation, but can you see it from the perspective that possibly we haven't even entered the mania phase yet? AAlFadhalas education TA on that scenario is an important one to consider, even while planning for the possibly capitulation phase.
I know you love Ltc, i also do. I know optimism is healthy and important for humans, but we are in the midst of a bursting bubble downtrend and trading right now is very risky lol.
There are plenty of waves to exploit though.