in other words, the scam is in full bloom convince enough fools that this is the new money, then limit the amount of beanie babies crying for their mommies
Just my view - the combination of bullish factors I'm seeing in BTC right now is very unusual. We've just seen a major technical breakout against the backdrop of massive monetary inflation driving many asset prices into the stratosphere, with no end in sight. Moreover, we're seeing a sudden rush of institutional cash into what's ultimately still a very small and illiquid market, there's lots of price-insensitive buying power just sitting on the bid and not even looking at what the market is doing. That pressure looks set to last for at least a few more months, if not much longer. Sentiment-wise, there are obviously tons of sold-out bulls here - many missed the breakout, many sold out over the last couple of weeks only to see the market slide higher, it seems like everyone is waiting for a pullback to add or buy in. When that's the case you're normally at the end of the bull leg, on the verge of a reversal or at least a nasty and long-lasting correction (see precious metals since August), OR the market will just keep powering higher without offering a chance to get in. I just don't see how the bull run can be on the verge of ending given the institutional corner that's under way. IMO you can throw your charts away for now; this bull leg has a ways to go yet and is likely to see an explosive parabolic run leading to a pause of several weeks to a couple of months, followed by at least one more big leg higher into early 2021. One never has enough size on for these kinds of moves, but played right there's the potential to make several years' worth of profits in a single trade.
When you're able to lower your ego a bit, you just might be able to understand. Unless you're so full of yourself that you think you're smarter than Paul Tudor Jones, Stanley Druckenmiller, Bill Miller, Michael Saylor, Raoul Pal, Ricardo Salinas Pliego, Fidelity Research team, JP Morgan research team and on and on.... On second thought, you have an illusion of grandeur, stay in your world
Gaslighting bitcoin believers in a runaway bitcoin bull market is not going to be effective. Bitcoin is going to hit ATH no matter what's posted here on ET.
I think you're right. The market is so bullish right now that you can't rely on indicators, and just about all of them are over extended. There must be a lot of fomo happening right now, the bears can't even make a dip. I was expecting a dip around 17200, and we just blasted straight through it!
Does any one know where one can trade options on bitcoin, either on the futures themselves or through those smaller direct exchanges?? Seems like most brokers if not all do not allow it because its illiquid I am trying to buy verticals, for example, Buy 17k strike call, sell 18k strike calls LedgerX says you can NOT write options unless one you post the WHOLE value of bitcoin in case of a put options, so 17k dollars approx or whatever the current price now and in case of a call option, even with the vertical setup where you have a long call option your NOT allowed to do so unless you post an actual bitcoin which defeats the prupose of trying to capture the upside with limited downside buy buying a vertical without paying too much if any extrinsic Qudex and Deribit same thing