Wojak was visited recently by three "Goxes" (past, present and future). He was fearful of these spirits and wondered whether current market action was a little too much like 2014 or more like 2013. They didn't directly answer but told Wojak there is a lesson painted in the charts resulting by their presence. A lesson in patience and perseverance. Delayed gratification. Wojak emerged from the visitation all the better because he realized what would have happened if people didn't panic sell out of the market in 2014. A reward came within a couple of years...
The Gox Past was huge. The market was young. There had just been a big pump. The main liquidity and trading platform for the young market was hacked or manipulated or trading coins they didn't have. The resulting fear in the market resulted in a large "bowl" market from 2014 to about 2015 or so. This was understandable.
The Gox Present popping up at just the right moment resulted in long downward "handle" attached to the previously mentioned "bowl". Gox Present helped with price suppression if you will. Allowing people that hadn't "gotten" what was going on to have another chance. Is the effect of Gox Present a bad thing? If you believe in bowl and handle (or cup and handle if you prefer)... Well let me save you some time, it could have a happy ending. Resulting in a big looking ladle, kind of like the ladle of 2013 but much larger.
Gox Future will be a much smaller threat once all the coins that are left have been disposed of and/or returned to rightful owners. Plus the fact that the crypto market is much, much larger and can absorb such an event. There is more than one exchange. More people involved. More money injecting. Has proven anti-fragility in the last few years getting stronger all the time. More network effect and use cases too.
Gox Present said to Wojak: "Why do you doubt your senses?" "Because," said Wojak, "a little thing affects them. Looking at a short time frame chart, guided by bots, can allow them to be cheated... There's more of gravy than of grave about you, whatever you are!".
All this is what I imagine Dickens would say about bitcoin 0.47% if he were here with us. IMO 0.37% , the encounter is scary but its mostly just trolling people and lessons could be involved if you want to take some out of it.
The Gox Past was huge. The market was young. There had just been a big pump. The main liquidity and trading platform for the young market was hacked or manipulated or trading coins they didn't have. The resulting fear in the market resulted in a large "bowl" market from 2014 to about 2015 or so. This was understandable.
The Gox Present popping up at just the right moment resulted in long downward "handle" attached to the previously mentioned "bowl". Gox Present helped with price suppression if you will. Allowing people that hadn't "gotten" what was going on to have another chance. Is the effect of Gox Present a bad thing? If you believe in bowl and handle (or cup and handle if you prefer)... Well let me save you some time, it could have a happy ending. Resulting in a big looking ladle, kind of like the ladle of 2013 but much larger.
Gox Future will be a much smaller threat once all the coins that are left have been disposed of and/or returned to rightful owners. Plus the fact that the crypto market is much, much larger and can absorb such an event. There is more than one exchange. More people involved. More money injecting. Has proven anti-fragility in the last few years getting stronger all the time. More network effect and use cases too.
Gox Present said to Wojak: "Why do you doubt your senses?" "Because," said Wojak, "a little thing affects them. Looking at a short time frame chart, guided by bots, can allow them to be cheated... There's more of gravy than of grave about you, whatever you are!".
All this is what I imagine Dickens would say about bitcoin 0.47% if he were here with us. IMO 0.37% , the encounter is scary but its mostly just trolling people and lessons could be involved if you want to take some out of it.