Bitcoin reality check, things most rather ignore and forget

I wanted to post this chart back in March/April, but i really thought to many people would start to hate me because of it. In the meantime i have added a few things to it, since more things are clearer now than 2 months ago. Also because most crypto traders have become more realistic lately. This is no trading advice people, this is just my view of what was going on in this market the last 8 months since i started trading Crypto as well. Most of the chart speaks for it self but i will tell some more, from my point of view.

When i started trading it was in the year 2000, during the internet bubble, even though i was very young than, i remember how my mind set was during those days. Very similar to what most unexperienced crypto traders have now, thinking no matter what happens, eventually we will go up. If only life was that easy than everyone could become very rich. No wait, almost forgot, only the rich get richer, not the normal guy right? Or is the Blockchain something different this time and will it change the way of life as we have known it for thousands of years? Yeah maybe it will, Bitconnect almost gave us that, it almost worked out :), but BCH will certainly provide that, because BCH will become even bigger than BTC 0.58% . Of course it will, because there are so many famous people who have big bags of BCH and are promoting it, than it just HAS to go up, because they never loose! No they don't, because the retail trader provides the liquidity (buy orders) at the highs for them to sell it to you. The BCH fairy tail maybe upsets me the most. I don't know anything about the fundamentals and i don't care, i am only telling what i see from an objective view. Price has been pumped several times, giving the impression that it's really limitless and in the mean time the ones who sold Bitcoin 0.58%at the highs and filled their bags with BCH at the lows, are trying to convince the rest of the world that Crypto's will be the best thing ever but most important, BCH will be the king, so don't miss out! This BCH story is just to give an impression on how disgusting this market can be, so it's to show how unexperienced people see it, not what the facts really are.

My early followers know what i have been saying since November 2017. I admit, i was bearish most of the time underestimating the crypto market, up until the break of the 8000 in November, because than it finally hit me about what was going on. From there on out (please read my history if you don't believe me) i knew what was going on, it was as clear as daylight to me. I said that the market would just keep doing what it has been doing, just rally up to new highs after every dump. Giving the feeling that it's just impossible to loose money in this market, even if you buy at the highs you will eventually still make big profits (identical to the internet bubble)! Of course i did not know how high or low it would eventually go and when it would start to drop, i wish i knew :).

Do you know why i knew that it was a big fat bull trap around 11.500, not because i am a genius, just common sense and without TA (and of course almost 20 years experience and knowing how mean markets are). I kept on saying during those days, what money would push prices higher again? Just look around you and ask yourself what was going on during the ATH -0.79%and after that drop to 6K? How were the people around you in these months? The whole world was talking about Crypto's in January, did you hear them after the crash to 6K? Did you here them talking about putting even more money in this market when we were at 11.500? I know many people in my environment who got in during the highs, were disgusted of what happened. Almost everyone one them said the same thing, i will not put in another cent in this market, i will just keep what i have and hope that it will maybe become something in the future. Any different in your environment?

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Remember how everyone was celebrating that the CME would start with the Bitcoin futures? I told my followers it is probably the worst thing that could happen to this crypto market. A coincidence? Could be, but i don't think so. Maybe this new money supply come from the big players, the banks and the Soros of this world. Since that news has been spread around so many times, it has to be true right? Do you really think they would buy around the highs? For you it may seem lows, the ones who got in late, but these are still highs when you zoom out!

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I only see 2 options here for the institutional money to get in, they already got a month ago in the 6K's or they still plan on coming in. Assuming they will get in of course, who knows :). Big players always use both sides of the market to ge into positions, if they want to buy at a certain prices, they also short it to push prices down so people will sell as well and they can buy it up. It's not that they want to do it like that, they have no choice because their buying power is to much to do it at once.

So this whole story here, is not to trash talk the crypto market i am really not into all the fundamentals or whatever, so i can't give my opinion on that. So i can't say if it will doom within a few years or crypto's will be the greatest thing ever, i don't know and nobody can say for sure. There are to variables to be really sure. One thing we need to understand, there is a big difference between the blockchain companies and their coin's. Correct me if i am wrong, i think for most it's just a way to attract money from the market so they can keep on investing in their company. But when and how does this growth come back to us?

Anyway, the biggest message of this whole post is, something i have been mentioning a long time AND many times. NEVER TRUST ANYONE WHO HAS THEIR OWN AGENDA!!!!!! Meaning, for example, if someone has allot of BCH and starts to tell the whole world BTC is crap and BCH is the king so buy BCH, don't trust him. 99% of the times they are only saying it to get rich themselves. Not necessarily to fool you, best case everyone gets rich. But primarily they say it because it fits their agenda and fills their pockets with even more money. Why do they do that? Simply because they can

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To clarify something, it's not by definition that if someone has a stake and tells you to buy that he is lying, of course not. Just saying don't trust them if they are telling fiction instead of facts. Meaning if they talk about, it can go this high and this high, don't trust them, because nobody can know that. Especially crypto, nobody can value them because there is no revenue or intrinsic value to base that on, it's purely based on expectations. You have to believe in it yourself as well, not because someone tells you to do!

One thing you do need to understand about this market, liquidity is extremely low, so even coins with a few billion market cap, can get pushed up by 2% with a market order of 50K. So pump and dumps are extremely easy! Especially if you know where the stops are for short positions, than it's their money buying the market up and it's you who keeps buying at the highs and the orchestrators start to dump on you.

So again, this post is not about the future of crypto, it's about markets in general and how they work and why people just keep on loosing money!

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I have read the comments, it seems i have to clarify something else. My followers know i am a big bear on crypto, like no one else knows how to value the market, i can't either. This post is not me saying the market will drop even more and/or will make a huge crash. As you can see in the chart, i am not making a prediction on what it will do next. 500 billion total market cap is nothing, nothing to what it COULD be if things were straight up and clear for the whole world. In the Internet bubble there were allot of scams as well, not as bad as in Crypto, but still similar. The biggest scam was even from my own country, The Netherlands with the 'World Online' scam. Looking back it's unthinkable that something like that could happen in modern society, but it did and still is and will always happen. Why? Because it's human nature to be greedy, it's just never enough. Like i mentioned above, some of the biggest companies are Internet/Tech companies. I just think there is allot that has to be flushed out, before it gets accepted by the general public and the real money starts to flow in. The general public will pay much higher prices and it's up to us who CAN buy it low, to choose the winners.

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News like this and especially these sentences:

"On paper, bringing cryptocurrencies to institutional investors can have major consequences. If these investors take some risks, the value of all supported cryptocurrencies can skyrocket fairly soon."

This might be the whole reason they CAN'T get in, because liquidity is extremely low. Meaning only a very small % of the coins are traded daily, artificially creating a small amount of supply. Whole reason why pumps and dumps are so easily done

www.newsbtc.com/2018...tocurrency-platform/