It just goes to show how useless calling/forecasting is(exception being if you trade options)... Just trade what's there and you'll catch those moves, while everyone is either bullish or bearish, you just take the advantage of the both sides getting fucked. Neutral approach, being flexible is the best one. Anyways, the point of this thread was... That it's time to be bearish bitcoin, which it is IMO. I can't get the timing right, that's why you gotta trade the setups, call is worth shit. The current state of all markets as i see it, is "Back to normal". Second crash will come IMO. When? We will see.
Good point. I'm not really trading (fully invested in cryptos for a while now), but I did try an automated trading bot (cryptohopper) and that was a lot of fun! It was making trades even when I'm sleeping based on a trading strategy setup I bought for $4 and after a few dozen trades, I made something like $70, lol, each postion size is ~$350 (in btc) and total account size is ~$1500 (in btc). I stopped the bot for now, just don't think it's worth it without increasing the size and the account (and the risk/reward) The strategy is closed-source so not sure what it's looking at, but it's got a fairly high rate of success, but I'm just not a trader, so it's not for me, maybe in a few weeks I'll pick it back up. On the btc price action, lots of leveraged traders on the short and long side, yesterday, shot up to over $10K/btc with the twitter bots tweeting shorts liquidated, xxx amounts, then today, crashed back down below $10k/btc. Yesterday, about $9500/btc, today about $9500/btc, it's like nothing happened, lol.
I'm replying to my own post. Grayscale has been buying old(er) coins ever since the halving as they are buying more bitcoins than have been mined since the halving. I would guess that these "extra" coins don't have much history which means even if they were mined 6 months ago, they sat on an address, but this is just my theory so they don't get involved with bitcoins with "bad history".
I think i will be heavily loading up on EOS at 2$-2.2$. I have pretty high confidence that it's a very good buy there and that we could get violent pump from there. I know i could be wrong, but i think it's a good opportunity, i'll definitelly be scouting for longs! BTC would have to bottom too and go up for this to work, but i think if it works out, EOS will outperform. Just an idea, trade accordingly...
It was only in March when Bitcoin Price Fall Below $6,000 on Declining Trading Volume. Spent a lot of time at https://changehero.io/ buying USD. Bitcoin price dropped below $6,000 after traders failed to hold the $6,200 support. For the second time in one week Bitcoin (BTC) price has fallen below $6,000. Now the price is 9k+ and I believe in 10k at the end of July.
some said it will go to $100K or even $1m. some said it will go to $6K, or $1K, or even $1 because cryptocurrency supply is infinite, I'd think chances of it going down is higher. we have quite a diverse view.