Truth is boring. Denis.Y.Y
Now a bank run or a cash squeezing or a withdraw madness is showing...
I hope you guys are on the right side of the market.
In our history, the tulip mania is looked very likely the coin market but at least it's a kind of very beautiful flower for observation and very romantic. The coin? It may be ended pathetically.
The Bit coin trade is mainly used by Chinese to buy US dollar without legal foreign currency administration from the PBOC, now these days are over. It's illegal now in China. The ok coin users accounts have been hacked in BTW.
I assure you guys that the mania is over. Do I have ever given a shit on TV? Check out my analysis please.
Technically, the harmonic top B wave often has the same level with previous top or maybe some little higher, then the C wave should follow with an impulse which could be subdivided into a 5 wave.
This behavior is proving itself a typical speculation but not an investment.
I see something the same in China market like Maotai is over 550 Yuan per share, and it's a beverage stock without any "value". The beverage price is controlled by those agents with a distribution net work where has been formed a "monopoly". Just like a sort of collection market which is manipulated by the producer.
Very old tricks, now playing as the face of an "high technology".
Truth is boring. - Denis.Y.Y
The BTCCNY may explain the 50% has been touched and bounce off from B wave. Look at the trading volume, it's fading... a very dangerous market. Even if you are good at the BTC market before in 2015-2017 doesn't mean you can analysis it right. Because you're assuming it's bull, which is saying an emotional bias you may have never noticed it until the collapsing...
Professional investors shouldn't trade Bitcoin in his job, if you trade it as a speculator, then it has some fun to play.
In fact, nowadays 5 wave impulse is rare in our markets because of programs and machines are changing the human patterns.
My points here:
1, We now have 17,000,000 coins and the price is 6,000 US dollar per coin, then the coin market has an huge capital flow where is endangering US dollar stable if it's gonna squeeze out, or saying a liquidation, or saying profits taking, bank run...This market soon will be too big to fall. Crazy...
2, The mining is a calculation of the prime number which is using to crypt and decrypt the military class information. We don't know how they have been used, Its purpose is very suspicious.
3, Pay attention to gold/bit and gold: (bit/dollar)*(gold/bit) = gold/dollar.
Watching out, this bitcoin squeezing (yes, I'm sure about it) will make gold move but be careful here, we still have negative interests in Euro, a result may surprise the market. If traders buy gold with Euro will lead to the price moving negative.
4, In China, people are using electric wallet (good for women safe, right?) but it's based on bank system, it's like PayPal. I would never like to see a virtual money which is going crazy in this bitcoin mania (good for drug dealers and criminal, no administration right?)
This is an huge opportunity for hedging.
Please remember the whole trend is down.
Professional traders don't trade coins.
We've seen a news about China authority will strike down the cheap electric power stations where're providing the mostly hashpower computing in the world.
Professional traders don't trade coin.
We suggest selling all your fancy crypto currencies when they pull back before it's too late.
Especially Chinese people, there might be a cash squeezing after the Yuan's hike, in case your coins can NOT be exchange into Renminbi.
The investment point of view is showing the crypto currencies only have collection value. The coin market is a pure speculative market.