Do not forget...NASDAQ will be offering their bits soon... Y'all specerlators can still make some money. If the margins were not so severe I would have liked to participate in the falling phenomena of BTC. Alas. I do believe in "slow and steady winning the race, always". I will never be the risky rabbit to try those fun moves. My mind is too slow for it. With NASDAQ pushing out there own thing next year, that may change things. I wish ye well, it is very exciting!
Ballsy move. No one knows in which direction the price of Bitcoin will go, but if the price keeps falling, panic will set in. Those neophytes who bought Bitcoin recently only because they heard people were making lots of money will be looking to get out real quick. Those who bought months ago will be looking to take some profits off the table. Remember that unlike a stock, there are no metrics where someone can say the Bitcoin price is now ridiculously cheap.
Dollar cost averaging will still make you money because there will be rallies and a nice portion of the top has already blown off. (30%) Sure it will still go lower but as long as one keeps averaging in and cashing out at the rallies, that is not bad money.
Good question, but I don't think we will go down much more.Probably not lower than 8K. Vertical charts usually sell off 50-60% then there are serious rallies and eventually slow tampering off. Now how long the tampering off phase is going to last depends on how fast the world recognizes that bitcoin is nothing what we were told about. I still expect lots of sideways movements with wide range and rather high volatility. Probably still safer to play it from the long side. I would short it but I wouldn't average into a short. The real problem for crypto fans is that all the altcoins sold off too. There was none that held up showing that there is trust in it. In this regard all of them are just trading vehicles and for the smallest sign investors will dump them...
BITCOIN CRASH UPDATE after nailing top within days – WHAT NEXT FOR THE SNOWFLAKE LEMMINGS? By: Clive Maund -- Published: Monday, 25 December 2017 | Print | Disqus It’s been a rough week for the latecomer Millennial lemmings trying to get rich without doing any work – MANY WENT STRAIGHT OVER THE EDGE OF THE CLIFF, JUST AS WE PREDICTED THEY WOULD, and are now lying in a squirming heap at the bottom of it. Those who warned of the danger like Adam Hamilton, Bob Moriarty and myself were laughed at and derided – we were whistling in the wind and we knew it – BECAUSE YOU CAN’T STOP A DETERMINED FOOL. Hopefully though a few more thoughtful souls heeded the warnings and either took a whacking great profit or stayed away, which makes our efforts worthwhile. On clivemaund.com a Bitcoin Total Wipeout Alert was posted on Wednesday 13th December and followed by The Greatest Fool on Monday 18th December, so that Bitcoin’s peak approaching $20,000, which occurred during last weekend, was framed by these two stark warnings. So what now – is this a “buy the dip” situation as some believe, or is the final top in? That is the question we will now attempt to answer. There are hordes of young and not so young fools out there who are now “champing at the bit”, wanting to buy Bitcoin. They watched enviously as it rose into the Stratosphere, and now after last week’s smackdown, they can seize their chance to buy at a heavy discount from the peak price, thinking they have gotten hold of a bargain - ignoring the fact that this “heavy discount” is from a massively overinflated price. After all, “buy the dip” has worked like clockwork now for years, right? – and this is another dip, is it not? WRONG!! – this is not a dip, it is the initial plunge of a bearmarket in something that got insanely overbought and has now burned out. On the shorter-term 6-month chart we can see why the “buy the dip” crowd, who started to appear in the late trade on Friday, might succeed in generating a bounce here, which could be quite sizeable, because the Bitcoin price has arrived back at support in the vicinity of its late November highs, and above its rising 50-day moving average. They can quite rightly claim that moving averages are in bullish alignment and the earlier horrendously overbought condition has eased, and they will certainly get all the encouragement they could possibly hope for from their vociferous cheerleaders, who have a vested interest in talking this market up, but what they may be less aware of, or willfully ignoring, is what we will now look at on the 3-year chart. Here is the chart from the warning posted last Monday… The latest 3-year chart below shows that Bitcoin has just blown out following a terminal vertical meltup that marked the final stage of a parabolic blowoff. Just how extreme it got is made plain by the fact that an attempt to draw a parabolic uptrend on this chart proved to be non-productive, because the price got so far ahead of the parabola as to render it obsolete. This chart also shows a gap of stupefying magnitude between the Bitcoin price at its peak and its moving averages, and an unsustainably steep rate of climb of the 50-day moving average. Those market commentators who were talking Bitcoin up to $40,000 or even $100,000 - and some were well-known and respected - should be ashamed of themselves. This chart says that Bitcoin is done, finished, and anyone thinking that they have gotten hold of a bargain here, unless they are an artful short-term trader, is going to get their head handed to them on a plate – and it will be the same all the way down, as it drops lower and lower. Fundamentally we can easily see why this is so as cryptos are proliferating like weeds in a tropical jungle clearing, and the competition will soon be snapping at Bitcoin’s heels, and speaking of other cryptos you better not go thinking that the global elites are going to stand idly by forever and watch their fiat money system supplanted by a free roving virtual currency or currencies that are beyond their control. They will either get together and outlaw them on the basis that they are used by terrorists of for money laundering etc, or they will buy the lot up and squelch them, and they have the power to do it, and in this regard the start of Bitcoin futures on the CME was an ominous sign – it means that they are on the road to gaining the same kind of power over Bitcoin – and other cryptos – that they have had over gold and silver, with one big difference – at the end of the day Bitcoin is just a worthless line of code that fools have been jockeying to buy and overpay for. Gold and silver are very real, physical and their value is timeless, which is why the Chinese have been stashing gold away as fast as the West will sell it to them, and why the ability to control its price is destined to slip from the grasp of the Western paper market. One of the most tragi-comic signs of a bubble at its terminal stage was the pitiful sight of investors of modest means buying percentages of a Bitcoin at a vending machine, because they couldn’t afford a whole coin. So there you have it Bitcoin aficionados – GAME OVER!! End of update. BITCOIN CRASH UPDATE after nailing top within days – WHAT NEXT FOR THE SNOWFLAKE LEMMINGS? Published: Monday, 25 December 2017 It’s been a rough week for the latecomer Millennial lemmings trying to get rich without doing any work – MANY WENT STRAIGHT OVER THE EDGE OF THE CLIFF, JUST AS WE PREDICTED THEY WOULD, and are now lying in a squirming heap at the bottom of it. Those who warned of the danger like Adam Hamilton, Bob Moriarty and myself were laughed at and derided – we were whistling in the wind and we knew it – BECAUSE YOU CAN’T STOP A DETERMINED FOOL. Hopefully though a few more thoughtful souls heeded the warnings and either took a whacking great profit or stayed away, which makes our efforts worthwhile. On clivemaund.com a [/FONT][FONT=Verdana, Arial, Helvetica, sans-serif]Bitcoin Total Wipeout Alert[/FONT][FONT=Verdana, Arial, Helvetica, sans-serif] was posted on Wednesday 13th December and followed by [/FONT][FONT=Verdana, Arial, Helvetica, sans-serif]The Greatest Fool[/FONT][FONT=Verdana, Arial, Helvetica, sans-serif] on Monday 18th December, so that Bitcoin’s peak approaching $20,000, which occurred during last weekend, was framed by these two stark warnings. So what now – is this a “buy the dip” situation as some believe, or is the final top in? That is the question we will now attempt to answer. There are hordes of young and not so young fools out there who are now “champing at the bit”, wanting to buy Bitcoin. They watched enviously as it rose into the Stratosphere, and now after last week’s smackdown, they can seize their chance to buy at a heavy discount from the peak price, thinking they have gotten hold of a bargain - ignoring the fact that this “heavy discount” is from a massively overinflated price. After all, “buy the dip” has worked like clockwork now for years, right? – and this is another dip, is it not? WRONG!! – this is not a dip, it is the initial plunge of a bearmarket in something that got insanely overbought and has now burned out. On the shorter-term 6-month chart we can see why the “buy the dip” crowd, who started to appear in the late trade on Friday, might succeed in generating a bounce here, which could be quite sizeable, because the Bitcoin price has arrived back at support in the vicinity of its late November highs, and above its rising 50-day moving average. They can quite rightly claim that moving averages are in bullish alignment and the earlier horrendously overbought condition has eased, and they will certainly get all the encouragement they could possibly hope for from their vociferous cheerleaders, who have a vested interest in talking this market up, but what they may be less aware of, or willfully ignoring, is what we will now look at on the 3-year chart. [/FONT][FONT=Verdana, Arial, Helvetica, sans-serif][/FONT][FONT=Verdana, Arial, Helvetica, sans-serif] Here is the chart from the warning posted last Monday… [/FONT][FONT=Verdana, Arial, Helvetica, sans-serif][/FONT][FONT=Verdana, Arial, Helvetica, sans-serif] The latest 3-year chart below shows that Bitcoin has just blown out following a terminal vertical meltup that marked the final stage of a parabolic blowoff. Just how extreme it got is made plain by the fact that an attempt to draw a parabolic uptrend on this chart proved to be non-productive, because the price got so far ahead of the parabola as to render it obsolete. This chart also shows a gap of stupefying magnitude between the Bitcoin price at its peak and its moving averages, and an unsustainably steep rate of climb of the 50-day moving average. Those market commentators who were talking Bitcoin up to $40,000 or even $100,000 - and some were well-known and respected - should be ashamed of themselves. [/FONT][FONT=Verdana, Arial, Helvetica, sans-serif][/FONT][FONT=Verdana, Arial, Helvetica, sans-serif] This chart says that Bitcoin is done, finished, and anyone thinking that they have gotten hold of a bargain here, unless they are an artful short-term trader, is going to get their head handed to them on a plate – and it will be the same all the way down, as it drops lower and lower. Fundamentally we can easily see why this is so as cryptos are proliferating like weeds in a tropical jungle clearing, and the competition will soon be snapping at Bitcoin’s heels, and speaking of other cryptos you better not go thinking that the global elites are going to stand idly by forever and watch their fiat money system supplanted by a free roving virtual currency or currencies that are beyond their control. They will either get together and outlaw them on the basis that they are used by terrorists of for money laundering etc, or they will buy the lot up and squelch them, and they have the power to do it, and in this regard the start of Bitcoin futures on the CME was an ominous sign – it means that they are on the road to gaining the same kind of power over Bitcoin – and other cryptos – that they have had over gold and silver, with one big difference – at the end of the day Bitcoin is just a worthless line of code that fools have been jockeying to buy and overpay for. Gold and silver are very real, physical and their value is timeless, which is why the Chinese have been stashing gold away as fast as the West will sell it to them, and why the ability to control its price is destined to slip from the grasp of the Western paper market. One of the most tragi-comic signs of a bubble at its terminal stage was the pitiful sight of investors of modest means buying percentages of a Bitcoin at a vending machine, because they couldn’t afford a whole coin. So there you have it Bitcoin aficionados – GAME OVER!! End of update. [/FONT][/FONT]
I predicted the same at the same time in 1 single sentence instead of multiple paragraphs and charts. But anyway, I disagree about the future, there is plenty time left to play it from the long side, just like this thread's title suggests. Even when vertical charts blow off, they don't go to zero right away, but after a 40-50% shave off they bounce hard. And so did BTC, when I called for a buy zone at 11.5K on Friday morning, it bounced hard and quick, going up to almost 16K, a 40% increase in 2 days. So enjoy the volatility, the show isn't over yet, but we can forget about 20K+ prices. Still plenty of opportunities left for both sides.