So essentially this video is just showing the first two big trends on Bitfinex and how the future movements are heavily based on these areas. One of these areas is the 6666 point which refers to a 2.618 on an old trend.
My take on BTC is not good. It has to do with the lack of mining and increase of people selling out of BTC. I use to think of *big investors* coming to save the day, but why would they be waiting for BTC to drop. I feel like they want to see it go up so they can put money in it. If it looks bad, it will not come up. If it does not come up, then how is money made by the miners? If miners are not making their cut for a foreseeable amount of time, then will they keep mining? If the core miners of BTC stop, then what will happen? Are people looking to ETH or other coins to invest into instead of BTC?
My feeling is that ETH will have a huge shoot-up once it hits around literally dirt cheap prices. This is not so much because of the fundamentals, but the idea that once BTC is not being mined or traded and has essentially "died" (low liquidity), People will then look for ways to finally put their money into alts. I think ETH can fill this short term roll, seeing as how it already has pairs to many alts and people just want it in general for its uses. As well as its future of moving to Proof of stake. This would be an amazing bottom to grab it at.
If there is the possibility of things dropping to 0, I believe that "institutional investors" will wait for this moment. They have already made their money as I see it and are waiting for the next opportunity. I do not see a reason why an entity would invest into BTC until it is clear that it looks good. Why take the risk? One cannot simply sell off billions of dollars in a low liquidity market.
Take this as you will for the price of the alts and what this would mean for them if one held on through this scenario; if this does indeed happen.
Tl;DR Low risk trade. The idea comes from waiting for the scenario. If the scenario does not happen, then nothing is lost. But so much can be gained. I have been thinking of the idea of BTC (not Crypto) dying for a long time. It would be nice to finally see it happen.
My take on BTC is not good. It has to do with the lack of mining and increase of people selling out of BTC. I use to think of *big investors* coming to save the day, but why would they be waiting for BTC to drop. I feel like they want to see it go up so they can put money in it. If it looks bad, it will not come up. If it does not come up, then how is money made by the miners? If miners are not making their cut for a foreseeable amount of time, then will they keep mining? If the core miners of BTC stop, then what will happen? Are people looking to ETH or other coins to invest into instead of BTC?
My feeling is that ETH will have a huge shoot-up once it hits around literally dirt cheap prices. This is not so much because of the fundamentals, but the idea that once BTC is not being mined or traded and has essentially "died" (low liquidity), People will then look for ways to finally put their money into alts. I think ETH can fill this short term roll, seeing as how it already has pairs to many alts and people just want it in general for its uses. As well as its future of moving to Proof of stake. This would be an amazing bottom to grab it at.
If there is the possibility of things dropping to 0, I believe that "institutional investors" will wait for this moment. They have already made their money as I see it and are waiting for the next opportunity. I do not see a reason why an entity would invest into BTC until it is clear that it looks good. Why take the risk? One cannot simply sell off billions of dollars in a low liquidity market.
Take this as you will for the price of the alts and what this would mean for them if one held on through this scenario; if this does indeed happen.
Tl;DR Low risk trade. The idea comes from waiting for the scenario. If the scenario does not happen, then nothing is lost. But so much can be gained. I have been thinking of the idea of BTC (not Crypto) dying for a long time. It would be nice to finally see it happen.