BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
1394 47 9
What is it? I miss the concept - Will never get it even if it trades at 10,000.
To me: no correction will ever be enough.

Away from this very subjective opinion, Bitcoin             is reaching the cliff: Below here, it could fall vertically...

ALL THE POSTS I READ POINT UP.... It may be going lower then.. as it "should"... coming from nowhere and going back to nowhere...

This is not apple             or a pharmaceutical company with a blockbuster... This is nothing... A human marketed enthusiasm...

Anyway... you got it, i dont buy into it.
I understand the frustration against the Bitcoin lobby. It has many fans. Can you blame them? The damn thing went from a couple of bucks to $1 200 in a few months. It has gained as much value relatively as gold did in 30 years...

Now, you have two choices. Either you believe that Bitcoin will continue to act as a commodity, like gold, and its price is likely to follow the Elliott wave pattern. This is not a scam, because this model has been tested many times and proved adequate.

On the other hand, Bitcoin could become a legitimate currency than everyday people know how to buy and spend on the Internet and real life. If it does, then its value will probably decrease a lot, but be more stable.

A scam is supposed to rob a lot of people to make rich a few. Here I think it's different, because either way, people are going to get rich and poor. The market is made in such a way that there should be some kind of balance between the two. So if the price crashes, people are still going to make lots of money betting on that crash, and the same in the opposite direction.
+2 Reply
YaKa Nelty

1) What I know is nobody criticize me more than when i write negative things about Bitcoin... Fishy.
2) Things that are useful don't need any lobby... you dont have a lobby for Iphones... people buy them despite the critics....

Elliott wave fits anything that trades... even assets that will go bankrupt.... Elliott is just mapping human behaviours
-2 Reply

I've been a bear since 600 and got heavily attacked back then's heading down, to 86 probably.
Bitshares is what Bitcoin should be, the mining is detrimental, encourages people to mine and dump to pay for power costs.
It's complcated and bitshares as well, hard to explain it to common folk.
The funny thing is:

I am not naturally interested in bitcoin... There are just too many posts about it so every now and they I look at it and try to look at the price possible point of break.

Each time I post something on it... EACH TIME: Some Bitcoin ayatollah comes to try to explain what is bitcoin and it is always complex....


-9 Reply
I'm not trying to promote it, but I'm seeing the same thing a lot of people are seeing... a year long wedge meeting up with a long-term trend-line with a three-drives pattern about to be completed within the wedge. The trend line you drew is a little to close. The one I drew shows the trendline at about $240 right now. I think we will get close to that, right near the bottom of the wedge where it intersects with the long-term uptrend. It really does seem like a good long setup. I'm not necessarily saying you're wrong, but that's just what I think a lot of people are seeing that you are calling "promotion."
+2 Reply
YaKa MoonTrader
ok. At least you are talking about the price and that is fine. The price can go anywhere.. Very high or zero.
I am talking about guys who try to convince the crowd that bitcoin is useful/necessary should have a greater value and get irritated the moment someone says the contrary... That smells like guys who are long and try to support their pension fund.
-4 Reply
YaKa MoonTrader
as per the line, please post your chart... in log, i dont see how the line could be wrong...
-4 Reply
Here you go:
+2 Reply
YaKa MoonTrader
i dont see the root of your line... so does not tell me anything but it does not matter, i see your logic... Monitor 240 then. ok.
-5 Reply
You can click and drag the chart back to see the root ;)
+4 Reply
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