goldbug1

BTC - Boring May Get a Boost - Market Sentiment

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Overview:

We are entering the exhaustion stage. What do I mean by this. Many people think fundamentals drive markets. This could be no further than the truth. Now I am not implying that fundamentals are not important what I am staying is that Sentiment drives prices in the mid and short term.

Example: It was sentiment and hype that drove Bitcoin to 20k not fundamentals. It was sentiment that drove bitcoin to 6000 not fundamentals. What has changed fundamentally since November or any part of last year with bitcoin? Sure you could say regulations. But we knew way ahead of time that regulators were going to eventually regulate the space. If you thought differently you were in denial. We had been preaching to the choir since September that this was GOOD for the space not bad. Other than that you could say that bitcoin' transactions are slower and that it is more costly. Big whoop! Who is purchasing stuff with bitcoin'? I'm not! If I am purchasing something I'm going to use Litecoin' period!!

But Sentiment is slowly changing, my buddy that was calling for 2800 two weeks ago is now asking is this the time to buy. Sure there are those that are still clinging to the Bitcoin' crush theory but they are simply trying to prove to themselves they are still right. Now I am not saying we can not go lower. We can go Lower. I am not saying buy here either as we do not have that signal. Shorting here is extremely risky. During our seminar one of the ladies said she bought in December, at the wrong time, and asked if just buying every week was the way to go, and that is what she has been doing. BINGO! This lady was not in her 20's. Matter a fact many of the people we meet are midlife or older. They are interested in the space and they are investing. Unlike many that feel they will trade their way to riches, they are slowly buying in.

So as there are many calling for an "Death Cross" among numerous other useless rear view looking indicators, the main stream investor is starting to come around to "is this a place to add or buy in". Keep in mind they are looking longer term and they do not sell on fear. Sentiment is slowly changing and though we can definitely still go lower, we are getting closer to finally breaking out to the upside especially if 7666 holds. Though we have tested the extreme levels it has been short lived, which is also a sign that people are looking to add on dips, not sell into fear. Fear is slowly turning into hope and hope turns into buyers and that leads to a rally and eventually FOMO.

I want to be clear this does not happen overnight. This happens over time, sentiment changes over time and henceforth the market follows. Many are still sticking to their end of bitcoin' story and will soon be making new sign ins as they did when they were calling for 30k at the top.

Summary: We are still in a holding position allowing the market to run its course. From a broader picture we move higher in the long term. If you did not catch Gillian's post on oil', Yuan', Ruble' and Bitcoin' I recommend you read it. One of the best fundamental articles I have seen.

Patience is key here and opening a short position is dangerous, but it is not yet time to take a bullish stance. But make no doubt the clouds are starting to clear and it will not be long before the sun comes out and we resume the bull market.

Mar 27
Comment: For the record, Bitcoin is leading the market and the alt coins are following a similar pattern. Once we get a signal on any of the coins like NEO OMG LTC DASH etc I will update, but for now they are in a similar pattern to bitcoin.
Inverted BTC chart looks bullish!

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Goldie I am waiting! You know until you become bear we cannot see the end of this.
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Or not....
For more experienced day traders only
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A coin increases in value when it is used by more people. It is that simple. This is the long-term trend on most coins. However, Bitcoin is overlaid by a speculative bubble that is likly to completly collaps. Currently, we are only half way down.

However, there is a brand new coin out there with a huge potential. Futurocoin is on the market for only eight weeks and it is already listed at the YObit exchange. More exchanges will follow soon. It's price is between $5 and $10. Buy it now, it will never be so cheap again. It is really a low price for a useful payment coin. Once the payment app will be available, the demand for the FTO will skyrocket and so will its price. A community of more than half a million people is at the ready for acquiring acceptance points world wide. Futurocoin will probably be the coin with the most acceptance points before the end of this year.
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venturetrade luckyhelper
@luckyhelper, is this your coin ha ah ha?
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luckyhelper venturetrade
@venturetrade, just laugh about it. By the end of the year, those will be laughing who bought some coins at the acutal low price.
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venturetrade luckyhelper
@luckyhelper, i am not laughing but what is so great about that coin that Bitcoin does not have?
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luckyhelper venturetrade
@venturetrade, Bitcoin is not backed by a huge community. A community that really supports Bitcoin. The price of Bitcoin will fall to approx. 450 USD. People will keep their hands off BTC. A payment transaction in Bitcoin lasts approx. half an hour or longer. No shop has the time for waiting until a Bitcoin payment is confirmed. This year, we will see the first ATM-machines where you can load your Futurocoin wallet. This community is creating a whole infrastructure like no coin has ever seen before. By the way, the payment app of FTO can also handle Dash and Bitcoin. However, no shop owner will chose to accept Bitcoins as long as the confirmation of a payment will last half an hour or longer. Due to this payment app, the number of people who will use FTO will climb fast. I guess that it takes about three years until the masses use FTO for payments. Don't forget: the governments print money à go go. There will be inflation. People will save themselves by keeping their savings in cryptocurrencies. FTO is on the market for eight weeks only. This is a very short time. It is well worth to keep an eye on this new born coin.
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venturetrade luckyhelper
@luckyhelper, ok thanks I will check it out though I am really skeptikal anything with names like this will make it. it is just cheesy names that do not vibrate to me as success
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lugochild luckyhelper
@luckyhelper, hahaha that pitch though... Have you heard about our lord and savior Jesus Christ?
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