wolfshrike

market decision on price then lift

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Wolf No,
ok so ive added an explanation of the "bouncing" price

Wolf No,
i think the bouncing price is basically the market testing what is the "accepted" price. since BTC isnt physical and its got no tangible asset ( just 1 and 0 on a hard drive) its basically a blind guess as to what its really worth, you can factor in Mining difficulty, price of HARDWARE ASICS, Price of electricity, price of Taxes and related fees. But basically its a momentum based price whereby if there is a downward trend the Floor of the Market "caves in" a little bit like a trampoline and theres a little bounce.

Wolf No,
This bouncing pattern happened before the massive influx of speculation which IMO was a freak incident that was induced by Shill and the Media

Wolf No,
The next thing is either a complete Flop and BTC crashes (unlikely because of its Market Dominance and the fact it is now basically too big to fail) and secondly its early stages of operation (still <10 years old and only 0.1 of the total supply of currency in the world)

Wolf No,
So naturally barring a freak act of god (market banned by UN or what ever) the only way is UP. This will be "tested" with small bouncing charts as people test the water. The previous pump and dump of 2017 will be spooking the "Professional" traders who will ride the waves of PnD but generally the long term price seems to be a pattern of regular "bouncing" then when the price is "set" a lift off.

Wolf No,
/end shill
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