Episode III
Revenge of the Gox
Waaar! The Decentralization is crumbling under the attacks of rumored regulation and bans initiated by the ruthless Sith Lord, Count Gox. There are bulls on both sides. Bears are everywhere.
In a surprising move, the bearish leader, General Rsi-Lo, has been dragging down the entire market capital and kidnapped Chancellor Fiat, leader of the Crypto Senate.
As the dissident General RSI-Lo attempts to run away with their priceless hostage, one Knight leads a suicide mission to rescue the captive Chancellor...
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Hello everybody! :) Going straight to the point-this is not a financial advice. I'm just doodling. This is the weekly based log graph of
BTCUSD
. You can see there is the OTL (old trendline) that BTC has been gliding over since 2015. I don't know what's before that since TD doesn't have the data going back before 2015. In the big picture, BTC is going up and up and up. Now, there is a change in direction with trend line and it happened around third week of March 2017 where the new trend line (NTL) started. It looks like a strong support as BTC has been bouncing of it this past year.
BTC seems to be reaching critical point of choosing between the dark side and light side. The dark side shown by the red triangle, or below the NTL, and the light side shown by green (ascending) triangle, above the NTL. Now, there is an apex (touched by purple vertical line) where the RSI, green, and red triangle may coalesce and that's around first week of May which is about ~10.6k.
I think it's important to keep an open mind in this extremely volatile market. I don't know where BTC will go in the future. I'm excited to see where it will trend to in May but whichever way it goes it is still in bullish trend. As we can see in the graph, each year BTC value open and closing has been going increasing linearly relative to the OTL. Predictions for 2019 if BTC continues with the new trend line (NTL) will be an evaluation of $47k per BTC. However, if BTC falls back to OTL then a probable $4.2k.
Look at 2020 though. Freaking crazy... I can't fathom a single BTC worth $460,000. What would the market cap for BTC alone? Let's see. 16.9 mil circulating supply x $460k = $7,779,652,020,000. By the power of grey skull... 7 freaking Trillion dollars!!
Wow.
There is that graph by howmuch.net called "worlds money in perspective" showing Gold's market cap being $8.2 Trillion. Given BTC is more scarce then yes it may come true. Only time will tell us(and maybe elliot waves and chart reading but that's beside the point). Anyways, this is surely an exciting time for the BTC community.
Hope you enjoyed the reading. Let's look back at this in the future for fun.
P.S. You might need to zoom in a little (click + button twice) to get the boxes in the right place.
Just in case if you'd like to help feed my lonely tarantula, Dagg, with crickets. Good day!
BTC 32broNzJWGAJLtn1dibPGXyUzmP14ZtcNu
ETH 0x509ad4514437A060fDeB2574d9A2c42E1236A013
LTC MTU5pBREDhVbYNF2wUEQhvRCimvUDk6aNK
Revenge of the Gox
Waaar! The Decentralization is crumbling under the attacks of rumored regulation and bans initiated by the ruthless Sith Lord, Count Gox. There are bulls on both sides. Bears are everywhere.
In a surprising move, the bearish leader, General Rsi-Lo, has been dragging down the entire market capital and kidnapped Chancellor Fiat, leader of the Crypto Senate.
As the dissident General RSI-Lo attempts to run away with their priceless hostage, one Knight leads a suicide mission to rescue the captive Chancellor...
------
Hello everybody! :) Going straight to the point-this is not a financial advice. I'm just doodling. This is the weekly based log graph of
BTCUSD
. You can see there is the OTL (old trendline) that BTC has been gliding over since 2015. I don't know what's before that since TD doesn't have the data going back before 2015. In the big picture, BTC is going up and up and up. Now, there is a change in direction with trend line and it happened around third week of March 2017 where the new trend line (NTL) started. It looks like a strong support as BTC has been bouncing of it this past year. BTC seems to be reaching critical point of choosing between the dark side and light side. The dark side shown by the red triangle, or below the NTL, and the light side shown by green (ascending) triangle, above the NTL. Now, there is an apex (touched by purple vertical line) where the RSI, green, and red triangle may coalesce and that's around first week of May which is about ~10.6k.
I think it's important to keep an open mind in this extremely volatile market. I don't know where BTC will go in the future. I'm excited to see where it will trend to in May but whichever way it goes it is still in bullish trend. As we can see in the graph, each year BTC value open and closing has been going increasing linearly relative to the OTL. Predictions for 2019 if BTC continues with the new trend line (NTL) will be an evaluation of $47k per BTC. However, if BTC falls back to OTL then a probable $4.2k.
Look at 2020 though. Freaking crazy... I can't fathom a single BTC worth $460,000. What would the market cap for BTC alone? Let's see. 16.9 mil circulating supply x $460k = $7,779,652,020,000. By the power of grey skull... 7 freaking Trillion dollars!!
Wow.
There is that graph by howmuch.net called "worlds money in perspective" showing Gold's market cap being $8.2 Trillion. Given BTC is more scarce then yes it may come true. Only time will tell us(and maybe elliot waves and chart reading but that's beside the point). Anyways, this is surely an exciting time for the BTC community.
Hope you enjoyed the reading. Let's look back at this in the future for fun.
P.S. You might need to zoom in a little (click + button twice) to get the boxes in the right place.
Just in case if you'd like to help feed my lonely tarantula, Dagg, with crickets. Good day!
BTC 32broNzJWGAJLtn1dibPGXyUzmP14ZtcNu
ETH 0x509ad4514437A060fDeB2574d9A2c42E1236A013
LTC MTU5pBREDhVbYNF2wUEQhvRCimvUDk6aNK
Komen:
BTC staying in the green triangle! Keep it up BTC! Woot woot!
Komen:
Dang... Bitcoin went to the dark side. We might see 4k soon