i will not say its not possible, but if u count in the fundamental analysis of the cryptomarket.
I would not trade this.
Comparing traditional market vs crypto is also something i would not do since the bases of the two are so different
Olmost everytime gold went up btc went down or atleast some transfer of wealth between the two.
And for btc to achieve the SAME pattern is to far outreached since the fundamentals have changed so much.
Would love to hear what u have to say about this.
Bullbrain
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@samuraiben, well btc itself may be different, but i think the only real difference in trading bitcoin is the speed of the cycles and the very high increase of the price in %. Offcourse is btc something else as gold and you can't compare it to anything else, like internet in 2000. But the fundamentals of trading it are completely the same, nothing new under te sun, same big players that aggresively push prices up or down, same emotions of everybody, fear and greed, same cycles. BTC is someting special, yes it is. Even in trading, but it reacts the same. The principles of Elliot and Wickoff also apply for bitcoin, because it is traded on a market, with all the types of buyers and sellers, investors, speculators etc, it reacts a lot like al the others, with bubbles and corrections.
I would be careful with thinking that 'this time it will be different'
With every new technology and bubble people think that.
samuraiben
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@Bullbrain, i have just watched the ivan on tech (youtube) with a trader also from the option market.
I have changed my mind
Thanks for beautiful the response.
samuraiben
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@samuraiben, i have about 55% in crypto at the moment (daytrader)
most of them lillte bit red but ready to dca like always :)
its an interesting perspective. We are less than a year out from the Bitcoin halving date, in 2014-2015 Bitcoin seem to bottom a year out around May then ran up.
Bullbrain
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@Larrycrypto, halving means less mining reward = less miners profitable = less miners = less dificulty = less mining cost. So technical no problem. Offcourse there is more scarcity, but i don’t think that this will change the big rules of the game as seen by wickoff and elliot and played by the big players on the markets. There is always a reason why this time, with a new invention, it should be different