One of the things that I learned is that the markets go in cycles and patterns repeat.
Bitfinex just printed $150mln Tether in the last couple of days and within hours Bittrex opened USDT pairs for XVG, ADA and NXT. Cheap coins that are gonna be pumped to the limits with the new fake money. Meanwhile Bitcoin will be allowed to rest and consolidate. I think we're gonna see a low in the $4000-5500 range within 30-45 days.
Let me explain you more with some pictures.
Bitfinex just printed $150mln Tether in the last couple of days and within hours Bittrex opened USDT pairs for XVG, ADA and NXT. Cheap coins that are gonna be pumped to the limits with the new fake money. Meanwhile Bitcoin will be allowed to rest and consolidate. I think we're gonna see a low in the $4000-5500 range within 30-45 days.
Let me explain you more with some pictures.
Komen:
Here's NASDAQ in the 2000s
Komen:
Here's a log chart of Bitcoin that I posted earlier.
Komen:
Here's NASDAQ today - notice the dot com bubble and the housing bubble in 2008 and where we are today...
the correction could be as short as 6-8 months like in 2013 april-september then higher to 100k by the end of 2018 or early 2019
Balas
I like your idea. Let's say BTC follow's Nasdaq. 1 month for BTC moves like 1 year for Nasdaq in the charts above. That means BTC by YE 2018 is still upwards of $30,000 and still rising. That probably within the long term expectations of all those who invest. Really the story you are painting right now would be fiercely positive for all who invest as long as your not trying to time the markets and play guessing games. Having a value store in tether available for other smaller coins is good news too as it gives more alternatives.
Balas
@Jkwc_kwc, You know this is a bit of a guessing game since I'm trying to figure out a pattern here. I have also heard things that would confirm this idea. Things like people saying that this is different this time, because bitcoin is not a traditional asset and it's booming, all this new paradigm stuff, even that it will never correct and will just keep on growing exponentially but the universal truth about the universe is that things go in cycles and eventually they are replaced by other things and so on. I'm trying to put a perspective on this thing especially for people who got caught in a maniacal phase and are resistant to consider alternative options. The charts' resemblance is striking and most analysts see no clear way out of the current bear market before we hit at least 8-10k.
I've also seen nice analysis where someone drew cycles on Bitcoin's movement. Approximately every 60 days bitcoin would hit a low and as far as I remember the next low is gonna be around 12th January.
IMO the thing that can and probably will save Bitcoin in the long run will be Lightning Network and then yeah - we may be hading for $100k or even $1m (or McAfee will have to choke on his own dick). And you're right - more USDT markets are gonna be a tremendous victory for the upcoming trading option.
I've also seen nice analysis where someone drew cycles on Bitcoin's movement. Approximately every 60 days bitcoin would hit a low and as far as I remember the next low is gonna be around 12th January.
IMO the thing that can and probably will save Bitcoin in the long run will be Lightning Network and then yeah - we may be hading for $100k or even $1m (or McAfee will have to choke on his own dick). And you're right - more USDT markets are gonna be a tremendous victory for the upcoming trading option.
Balas
@AdrianZieniewicz, Earlier Novogratz said Bitcoin might hit $8k and now there's more FUD spreading - "below $5k". I think the thing is either being orchestrated with premeditation or it's a natural thing that needs to happen or a mix of both.
https://cointelegraph.com/news/bitcoin-headed-below-5k-is-one-of-silliest-things-dennis-gartman-to-cnbc?utm_source=dlvr.it&utm_medium=facebook
https://cointelegraph.com/news/bitcoin-headed-below-5k-is-one-of-silliest-things-dennis-gartman-to-cnbc?utm_source=dlvr.it&utm_medium=facebook
Balas
Tether isnt fake money its the best way around a banking problem that allows everyone including yourself to trade, to call it fake says that you dont understand the bigger picture and makes me think you haver been stung. if you have a better solution then i suggest you implement it, i seriously doubt you have either the solution or the power to put it into action. In terms of cycles if it was as simple as that then everyone who ever traded would already be a multi millionaire
Balas
@Nom_de_Guerre, I haven't been stung, why? Just look at this.
https://www.tradingview.com/chart/BTCUSD/1jN3r5VZ-Bitcoin-end-of-a-cycle/#tc1137623
Everything is being coordinated from backstage big time. I'm not complaining - in fact, I'm happy to participate and it's a rare opportunity that happens maybe once or twice in a lifetime but the fact that the crypto trading is unregulated has let shady activities to flourish.
https://www.tradingview.com/chart/BTCUSD/1jN3r5VZ-Bitcoin-end-of-a-cycle/#tc1137623
Everything is being coordinated from backstage big time. I'm not complaining - in fact, I'm happy to participate and it's a rare opportunity that happens maybe once or twice in a lifetime but the fact that the crypto trading is unregulated has let shady activities to flourish.
Balas