It is clear that the cryptocurrency bubble has suffered a fall, but the worst is yet to come.
Bitcoin does not have any kind of value, and this reminds me of the .com bubble of 99... where only those companies that really provided good value survived.
Well, I think something will happen this way with the "Blockchain" technology. Many worthless projects will be...
It is just an addition to my previous BTCUSD idea which was more based on RSI indicator. Here we have not 1, not 2 but 4 different resistances: the first and the most obvious one comes from the previous ATH, the second and the third one comes from the upper levels of the upward channels 1 & 2. The forth resistance presents itself in the RSI - currently we are...
I am extremely bearish on BTC now. Expect it to visit $15k levels if no then $24k is the maximum for 2020. Also don't like the fact everyone is so bullish around and telling everyone it is just "a beginning" or "it is like 2016". No, 2016 or even 2017 didn't start from a fucking bubble.
Today I made a video called 'BITCOIN vs STOCK MARKET BUBBLE 2020' (link in signature) -
Inside a month we have nearly liquidated more assets than what was lost during the entire .Com bubble!
There is a chance to catch within a few months around 16-17k - however - the market won't fully be recovered and healthy again until we do a full reset all the way down...
The market insiders' business model is to create fear of missing out, or FOMO, and then panic in a way so that it is at once both cyclic yet appears random.
FOMO is when demand outpaces the "fair value" of an asset. It's "overvalued". Price goes up. Warehouse gets emptied out at "retail" prices during the distribution phase.
That selling also creates PANIC...
Just some thoughts on the market psychology on bubbles.
Prevailing market sentiment on Booking in 2000:
"No stock can recover from that type of bubble."
"Booking is the new Tulip bubble, they took your money for good."
"Internet companies? The Internet is nice but you can't expect them to be able to make real money."
Prevailing market sentiment on Bitcoin in...
This is how i see the current Bitcoin crashing structure.
The breakdown below the 6k descending triangle broke the main bullish structure.
I am expecting a slow declining Usd value, in a sort of similar way of the first Bitcoin bubble.
Lonely differences: market cap, and time frame.
As you can see, the current crashing market is developping around 6x slower than...
Bitcoin was a clever idea. Idealistic, even. But it isn’t working out quite as its developers imagined. In fact, once all the coin has been mined, bitcoin will simply reinforce the very banking system it was invented to disrupt.
Bitcoin may have been meant to disintermediate the agents of trust who monopolized commerce and currency. Like the internet, it was meant...
Thought Experiment:
So we touched $20k. Last decent ATH and correction was $1000 where we found support at $200. Using that ratio, it would not be unreasonable to assume $4000 should be the REAL long term support.
Catch is I'm always wrong, so consider this educational even though I have labeled it as what my positions are currently.
Good luck everyone...
At this point is already obvious that Bitcoin is a bubble that already burst.
Bitcoin chart shows the typical bubble pattern.
Right now we are on the Capitulation stage.
Next stage is despair.
