- Sackie's NEW crypto prediction -- to reach 20k.

The next headline will be bitcoin crashes to $200k!

 

Whats hodled?

 

HODL

 

Oh ok. Well I have been shorting since 48k. Only 1 stupid time I went long and lost about 21k profit. But I exited that position quickly and added to my shorts all the way down. A few days ago when there was a pullback starting I exited all 6 short positions. Then when it was meeting resistance at around 23k I hammered again 7 short positions now down to 19k. In my 'time to short' thread I mentioned some of this in real time.

The funny thing is...12 months ago I said I'd have nothing to do with btc. Luckily for me I'm not too stubborn.

I have no idea if BTC will head to 100k+ or not in the future . All depends on the market makers I guess.

 

I think it's unlikely. People that use past BTC performance as an indicator of future performance seem to ignore the completely different market conditions.
Given that both CPI and interest rates are jumping drastically around the world, I just think it will be difficult to find "new fools" that are required to push BTC to its all time high and beyond.

 

I tend to agree with this.

My 2c and own very amature view. (Warning: long, boring post ahead)

The 'trouble' though is....if the market makers want to take price up to start a new cycle to make profits.. they themselves will buy in large amounts causing price to start rising. The media will start printing that btc has bottomed and starting its recovery. The die hard fans will start jumping in as the money makers keep marking price upwards...and so the cycle begins.

Eventually when the MM have off loaded the last of their inventory (bought at wholesale prices at the bottom) to the retail buyers on the way up who think it's going to the moon. Right at the top the final offloading occurs ( distribution phase) after which price can't be supported any longer and it falls. Then MM have smaller cycles profiting on the way down. Price cannot move much without their big orders. It's extremely well calculated and planned. There are variations to the cycle too. Sometimes they will reaccumulate after a strong pullback only to take prices higher. To extract maximum profits as much as possible. They heavily use the media headlines to their advantage, moving from massive liquidity to massive liquidity in the market. They hunt for all the stop losses too as they need the liquidity to absorb their huge orders otherwise they won't be able to buy and sell at the prices they want because their own orders would move the market too fast. They need the liquidity absorption. The most interesting thing is the process is fractal in nature, so it's happening on multiple time frames at the same time.


This happens to all stocks too imho. But with many solid companies, the MM can't take price back to square 1 because demand is usually too strong. So they take it down to the lowest level they can before the cycle starts again. Usually that level still offers long term investors profits. It's the shorter term traders who get hammered the most. It will be interesting to see where the real demand is for btc where the MM will be happy to use as a floor.

 

Next leg down now confirmed. The gals in free-fall. Possibly to stop at the 16k level for a pause. Then (hopefully) make her way closer to 14k. All crystal ball stuff.

 

For the morbidly curious.

Cryptocurrency Market Capitalization

 

Terrific long conversation. Saifadean loves his Bitcoin.

 

The struggle is real

 

He's wrong on so many levels. I get it history has been canceled, but it still happened.
"Can't have war without fiat" Wrong.
"Gold is the hardest metal to increase supply of" Wrong. And silver was most used as money.
"Govs fought (wars) till they ran out of gold"...lol sure, if history was only a coupe hundred years old.
"Bitcoin does'nt have any admins"...wrong again.
"There's no authority that can take your bitcoin, stop you from using btc" very very wrong.
"All the worlds wars trace back to ww1"... uhm yeah sure professor.
"Wars were fought on the the battle field but in the cities but life went on as normal" wtf lol

And he calls others "Frauds" when he's just another professor of BS engaging in academic mental masturbation. Or in his own words, another btc "parassite"
And the lesson is that a PHD from Cloumbia University is pretty much worthless.
And yet he's the expert with a book... gotta love the internets.

The same people that said "fortune favors the brave" were those that paid people to die for them and then said "The victors will rewrite history".

In the meantime BTC and all crypto continue do destroy more savings and wealth than any other promotion in history.

 

Not this black duck.

I messaged some people re crypto who were telling me get in, it is the next big thing when it was over 50k...lol.....crickets.

One even was saying buying an actual coin is wise.....for the foolish instantly came to my mind.

It is not much different to the tech IPO madness, where even doughnut makers had an IPO...lol

 

Well BTC has now done what its never done before by breaking previous ATH.

So is the sector dead? Time will tell but I suspect this isn't the last you've heard of BTC.

 

But then we could perceive to 'attribute value' just to anything, housing, label designers, price of cars, expensive wines, etc...…. the whole of our society is designed that way. The issue then becomes like the pyramid scheme of tulips, how much is the next buyer willing to pay for it, more or less?

 

Lol.