Surprise Move in Bitcoin? Or Was It Written in the Charts?

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March 25 – I woke up this morning surprised by the decline in bitcoin prices, even though it is (in hindsight) a clear technical pattern in the charts. Very grateful for the tippers who made…

4 COMMENTS

  1. Thanks for the note! You are the second person to comment that my volume
    is too low… sometimes I make videos early in the morning and everything
    is still quiet… I’ll bump it up next time.

  2. I woke up this morning surprised by the decline in bitcoin prices, even
    though it is (in hindsight) a clear technical pattern in the charts.

    Very grateful for the tippers who made this channel possible. Even though I
    am micro-trading – that is way different than just technical analysis.
    Thanks again. I am grateful!

    Now… lemme see when I’ll go long again…

    #march #bitcoin #trading 

  3. Yeah, pretty crazy stuff lately. The market seems to support roughly
    whatever the current price is. There seems to be enough of a market for the
    bitcoins that are generated and spent. But the big whales and groups of
    whales are the ones who are causing these wild swings. They have news
    groups where they formulate their strategy and they shake the market like a
    rag in a dog’s teeth. It’s kind of hard to predict these moves since they
    don’t necessarily follow market forces. What they want is for people to get
    excited when they push the price up, and buy more bitcoins at an inflated
    rate, then they crash the market to cause fear and sweep up the coins that
    novice traders and investors let go of when it’s down. But me? I’m playing
    a different game. I buy my bitcoins, dump them into my encrypted paper
    wallets and go on with my life. Only some of my surplus income each month
    goes into it but no large lump sums. It became clear to me back in 2014
    that I’m going to have plenty of time to accumulate a nice position over
    the next year or so since there aren’t going to be anymore 2013 run-ups for
    many months or possibly a couple years.
    And next month I’m selling my paid off rental condo (since I think we’re at
    or near the top of the real estate market and are about to hit another 2008
    crash soon). I’ll probably get about 70 or 80 thousand for it. Am I buying
    bitcoins with it? Nope! Just dumping the money into the mortgage on my
    house which will drop my payoff date to roughly 8 years from now. Volatile
    assets like bitcoin aren’t something you throw big lump sums into. Only
    surplus monthly income should be risked on this sort of thing.

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