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rep1
On 2/4/2018 at 2:26 PM, A_Simple_Man said:

Looks like you are losing your "Bitcoin Guru" status.

I too expected that. But what's the reason of dropping since last month?

I didn't see any bad news. In fact there were several good ones: the crypto ban in Korea was immediately cancelled under tremendous pressure, and more adoptions from paypal and others?

 

It cannot be all the big investors read Daddy's warning on LINC and panicked!

Edited by rep1
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Contango
On 09/02/2018 at 2:10 AM, rep1 said:

I too expected that. But what's the reason of dropping since last month?

I didn't see any bad news. In fact there were several good ones: the crypto ban in Korea was immediately cancelled under tremendous pressure, and more adoptions from paypal and others?

Bob Farrell's 10 market rules.

Rule #1 - Markets tend to return to the mean average over time.

Rule #4 - Exponential rapidly rising or falling markets usually go further than you think, but they do not correct by going sideways.

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Goetz1965

My shitcoins now start to rise again slowly. But as I said it will take until April/May - only then its "sell in may and go away" time - seems it will last until october/november again before the next bigger rise will occur.

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Headshot

This market, like so many in the past, is based on nothing but greed and fear. Those who invest should periodically do a reality check, rather than just riding the market wherever it goes. This video is about the great crash of 1929, but it may be just as valid in this market. Watch it. Nobody saw the crash coming. All they saw was the creation of wealth based on unlimited optimism ... very similar to what I am hearing today about crypto-currencies.

 

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Cgu
18 minutes ago, Headshot said:

Nobody saw the crash coming.

Well not nobody... some traders made good money...and if know your history a lone trader made over 100 millions.

Crashes like that happens and more likely than not is because of liquidity squeezes (like 1907 - of course Mr. Morgan saved the day, still). Of course exaggerated prices as well, but this will most likely go into a correction - no market can accelerate forever. You can make good money in any markets, up or down - just need to see where it is going. You will always have losses, accept it and move on, but you can only gain if you are in the market. For me it was always good and I most say looking back that it it paid out (maybe 70% the odds were with me - but I do not gamble - you might called it speculating, since nobody can predict the market 100% - but say 70% is realistic). Entering cryptos at this stage would be a gamble for me - as I have no way to predict it - the crypto market is just not transparent enough.

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Headshot
3 minutes ago, Cgu said:

you can only gain if you are in the market

That was exactly the greed mentality that drove the stock market in 1929.

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Cgu
1 hour ago, Headshot said:

That was exactly the greed mentality that drove the stock market in 1929.

Well, maybe...but remember the crash formed over nearly a year and the drop from high to low took more than 6 month. Like in any crash the strongest signal sets in...yield curves (and if you analyse any crash nearly all signals tell you that something is wrong with the market . People had plenty of time to get out, but most "amateur" lost their money (I suppose the same happens in crypto).  Same in 2007...

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Contango

BTC looks to be rolling over for another run down..

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Thomson
Posted (edited)
On 2/4/2018 at 7:26 AM, A_Simple_Man said:

Looks like you are losing your "Bitcoin Guru" status.

 

Are you kidding, I never been a guru.  I just predicted a short term $14,000 USD goal for bitcoin and a few weeks later it hit $18,400 USD. 

I sold most of my uBTC at that price and buying back in now. 

After all, my predictions were right and chances are high we might reach $25,000 later on this year as I predicted as well. 

Edited by Thomson
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Thomson

I didn't expect bitcoin to go that low in such a short period of time, that I have to admit. 

However, this is not the first time I've seen this happen. Last year in 2017 and the year before 2016 the same thing happened. As a matter of fact it happened in 2014 and 2013 as well. 

This is a harsh correction but I'm pretty sure it isn't over yet. By the end of this year we might still see $28,000 and by the end of next year $40,000 per BTC. 

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rep1

How did you know it'll drop after hitting $18,400? I don't see any signs, only sold my ETH due to concern of regulation which didn't happen and won't happen anymore.

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Thomson
Posted (edited)
12 minutes ago, rep1 said:

How did you know it'll drop after hitting $18,400? I don't see any signs, only sold my ETH due to concern of regulation which didn't happen and won't happen anymore.

I sold approximately $800,000 worth of BTC when it hit $18,000. I thought it would still go up so I kept some more BTC to later on. 

The main reason why I sold was because of the high transaction fees and because all these real Bitcoin gurus seemed to be cashing out as well, which to me was the icing on the cake so I followed them. 

I really thought Bitcoin Cash was simply going to take over Bitcoin. 

However it didn't (yet), go back up as expected. I knew a correction to $14,000 was probably due but a crash to $6,000 as we have seen I honestly didn't see coming. 

I do however remember 1 year ago in February and March 2017 BTC dropped significantly as well but was back up again by the end of year.  The same thing happened in 2016 and 2013 and some years before. 

I'm happy I sold because it seems like I sold at the top, but I'm pretty sure BTC will go back up and reach new all time highs by the end of the year as usual. 

This is nothing new. Just look at some historical price charts and you will see similar patterns and crashes again and again. 

Now that the high transaction fee issue has been partially solved, its time for new all time highs soon or later.  

Edited by Thomson
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Thomson
Posted (edited)
20 minutes ago, Thomson said:

I didn't expect bitcoin to go that low in such a short period of time, that I have to admit. 

By "that low" I mean... exactly 1 year ago if you compare the price of bitcoin to today's price of $9,150 it has risen about 800% until today despite the price having crashed about 60%.

The only thing one could complain about is the volatility however this is definitely not the end yet as many would like to see. $40,000 by the end of next year is still very possible. 

Edited by Thomson

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TheMatrix
2 hours ago, Thomson said:

By "that low" I mean... exactly 1 year ago if you compare the price of bitcoin to today's price of $9,150 it has risen about 800% until today despite the price having crashed about 60%.

The only thing one could complain about is the volatility however this is definitely not the end yet as many would like to see. $40,000 by the end of next year is still very possible. 

631% to be exact.  The volatility is a positive.  Also predicting $35-40k by year end due to increased regulations.  More regs = more $$ pouring in especially from institutions.  

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jtmwatchbiz

hey steve i like your new hair style.  is that the new "robert redford" look?  :biggrin_01:

when we gettin coffee?  whit all your money it's your turn to buy!

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