Technician
Short

Bitcoin Forecast: The One and Only Forecast

BITSTAMP:BTCUSD   Bitcoin / Dollar
15074 223 53
Bitcoin Forecast:

This thing is going nowhere but down, After the big players finish playing with it . Simply BITCOINS will have no place within the financial system unless Big banks, governments decided to do. There will no place for a new system that may threaten the integrity of the current financial system. IMHO :) sorry bitcoiners , its just a forecast don't take it personal ;)

Correction: its going below 50 within the coming months, not zero.
If you dont want to miss any trade and see all the trades live, fully transparent. No bullshit like some others. Join my FREE channel here https://telegram.me/technician_forex_trades
Pretty harsh gotta watch this one!
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DanV MOD
2 years ago
Really. Why? What is the reasoning behind it besides the directional arrow? I thought I was bearish enough to get into trouble from many traders, but you have stolen the show. LOL
+7 Reply
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flibbr Technician
2 years ago
Easy volatile market full of newb traders making wild swings. I think your logic is backwards. I wonder why any serious trader would not trade this market.
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Technician TOP flibbr
2 years ago
"Easy volatile market full of newb traders making wild swings", This is a get-rich-quick scheme newbies fall in, not appropriate for true traders with rational money management.
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TheChasm flibbr
2 years ago
Although I don't think bitcoin is going to zero, I understand why seasoned traders do not want to get into this. If I didn't understand how bitcoin works and the amazing things it can do for our world I would have the same prediction as Technician. 9 out of 10 things like this would go to zero and honestly most successful investors are too busy making money in current markets to worry about the high-risk play. It's not their cup of tea.
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Technician TOP DanV
2 years ago
I really wonder if any serious trader trade this?
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TheChasm Technician
2 years ago
I wouldn't consider myself "serious", as I am still in college and do not have enough capital to live off my trading income, but I have been trading for many years and Bitcoin makes a nice addition to my portfolio.... Although my portfolio is full of High risk speculative plays and I lower my risk by highly diversifying myself and in now way rely on all my picks being profitable. So bitcoin is just another High-risk/High-return speculative play.
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Technician TOP TheChasm
2 years ago
Although I believe the extreme high risk associated with trading bitcoins makes it nearly impossible to trade(IMHO), but its great to know that your managing to get profits out of it.. Thanks for your input.
-1 Reply
nicholasjf Technician
2 years ago
I know at least one "serious trader" who bought at 9p in 2011. Sold them for £1.5 mill.
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Technician TOP nicholasjf
2 years ago
Good to know. For sure there are some rational traders trade bitcoin..
+1 Reply
nicholasjf Technician
2 years ago
Don't know if was rational. But BTC, despite the current slump, has been the fastest growing investment in the history of mankind.
+1 Reply
Technician TOP nicholasjf
2 years ago
could be.. but its still need to go lower imo
+1 Reply
Technician TOP Technician
2 years ago
That could be the case one day, but not now
+1 Reply
vstepik
2 years ago
I can't believe it!
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Muwa
2 years ago
to the floor!
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I wish if there was a negative territory :)
+1 Reply
tristyan Technician
2 years ago
If you think this is going to the floor then why not short it?
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Technician TOP tristyan
2 years ago
because it could go to the floor in a year or in 10
-2 Reply
tristyan Technician
2 years ago
I could make that prediction on anything. I predict that within one to ten years Microsoft will be worth $10
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Technician TOP tristyan
2 years ago
guyz, i have said that i dont trade bitcoins, and this is not a trade, its just a long term view. Trades are clearly outlined when i publish them.
+1 Reply
tristyan Technician
2 years ago
I think you have made a pretty bold statement and if you are not prepared to back it u then why even make it? Just because you have not put the time in to understand why it has blown up so big and why it has the potential to blow up even bigger does not mean it will fall over. Bitcoin is international, there are no obstacles that one government or industry can put in place that another cant take away. It is the only true free market that exists at the moment
+1 Reply
Technician TOP tristyan
2 years ago
Not moving in the direction i stated on chart by the arrows doesn't mean my prediction is wrong. I re-iterate that my intentions was symbolic. it could spike even higher and maybe reach 5000 dollars, but the destiny of it might be around 50 bucks. Again that wasn't a trade it was an idea. DO NOT TRADE BASED ON THIS VIEW. its just an idea and opinion that could be right or wrong. :)
+1 Reply
Technician TOP Technician
2 years ago
I am just having a nice discussion with you guys, that was my main intention actually :p
+1 Reply
PooyaSalehipour Technician
2 years ago
Please do not say anything when you are not bitcoin trader. Bitcoin is a currency and over 600 million people have use bitcoin like us dollar. it's a big joke. over 100 million average people joining to bitcoin in 2016? what you are talking about? i am thinking bitcoin will rise over $1000 in next 2 years.
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Technician TOP PooyaSalehipour
2 years ago
I have the right to say whatever I see. And as you can see I am right so far..
+1 Reply
TheChasm Technician
2 years ago
The only thing you predicted were red arrows... and price hasn't followed it... so you are wrong
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Technician TOP TheChasm
2 years ago
:) obviously
+2 Reply
defnotLeglon
2 years ago
Hahaha love it! Doomsday bear is among us :D
+1 Reply
You are killing the american dream!! How can we get rich now??
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Technician TOP vlad.adrian
2 years ago
Haha
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ambrosia PRO vlad.adrian
2 years ago
Are you American? Then you are rich! Look around! But not for long.... Just keep depending on your governemnt
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vlad.adrian PRO ambrosia
2 years ago
I'm romanian and I'm as rich as any other student that doesn't have a job
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justatrader PRO vlad.adrian
2 years ago
About time TV added a 'Like' button for comments!! ;)
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vlad.adrian PRO justatrader
2 years ago
:)) thank you!
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mjsbuddha
2 years ago
COOOL! I get to put a mod on my ignore list for the first time! :D
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Technician TOP mjsbuddha
2 years ago
Feel free to do so :0)
+1 Reply
mjsbuddha
2 years ago
Well Technician, what are you investing in? Let me just fill you in on something.

There are 75 million baby boomers in the Unites States, all on the verge of retirement. For the next 20 years 10,000 people a DAY will be reaching retirement age. They are required BY LAW to start withdrawing from their tax deferred 401K's and other such tax deferred retirement funds because the goverment has to finally collect their taxes on that money. The estimates I've seen suggest they will each withdraw an average of about $1,000 a month from their retirement funds. That's 75 BILLION DOLLARS being sucked out of the stock market EVERY MONTH!!! What do you think will happen to stock prices?

And before you say "there's still bonds or currency pairs", the baby boomers will be sucking the goverment dry in the form of social security as well, forcing the fed to start printing new money like crazy.

So yeah, let me know how all that works out for ya. ;)
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Mirandole mjsbuddha
2 years ago
The value of BTC depends of popularity... Social network and cloud computing could give a good alternative to the old monetary system.

Today lot of rich families investing in BTC, they find in crypto-currency more confidence than in traditional monetary system. They think it will be more valuable to have BTC than gold, because you just can't send freely a lot of value today. But tomorrow, you could send whatever amount of value securely with crypto.
There are more traders playing on Forex than on BTC, on BTC there are a lot of stupid/inventive bagholders and the value of BTC just depend of their believes. All virtual currencies depends on confidence and believes, like a legal value but without taxes if you don't convert it in legal money (or in cash if you know someone...)

So be careful to don't surestimate Forex than Virtual Trending Exchange. Forex will stay the popular way of exchange money but BTC could be on an upper social level.
Legal money for Mr. Everybody and Virtual Money for educated nomad people/traders.
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alvnngyn Mirandole
2 years ago
You do know.... Everything runs on Confidence. Social level or whatever you call it is something you made up.
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alvnngyn mjsbuddha
2 years ago
Yet we are seeing capital flee from Asia and European Countries into U.S. Equities. You don't really understand global capital flow do you?
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Great points guyz, appreciate your input, lets see how things unfold in the future, this chart wont go anywhere.
+1 Reply
Mirandole Technician
2 years ago
PS : I'am a young 22yo fanboy trader. And if I get money on Forex, I will put some value on BTC.....
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usaoscoin
2 years ago
I am the one and only! http://www.youtube.com/watch?v=z8f2mW1GFSI
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Mirandole usaoscoin
2 years ago
ROFL !!!
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ambrosia PRO
2 years ago
You went a little too far, dont you think? People are still buying tulips.
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FXHighway
2 years ago
Wow ,, Interesting future overview my friend, but I might disagree with you, for two reasons:

1st: Technically, I might wait for some decline from these levels, but its as a temporarily correctional bias, and here's my technical idea through this link
https://www.tradingview.com/e/d6haV7ya/

2nd: Nothing related to the technical :D ,, but its that when I saw your chart I remembered an old friend who said that EURUSD will go down to ZERO and drew a chart almost like your's ,, that was back on the last month of 2001.. he drew some waves that led to 0.0001 , and here we are now ..

For me, I consider the 1st point only (the technical one) ,, so please dont care about the second one :D :D
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Guyz I was Just Joking, it is not going to ZERO, its going to $10 :)
+1 Reply
FXHighway Technician
2 years ago
hehe ,, Now its logical :D
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windjc
2 years ago
Such arrogance.
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Technician TOP windjc
2 years ago
Take it easy
+1 Reply
windjc Technician
2 years ago
I'm sorry, but for you to say "not appropriate for true traders with proper money management" sounds really arrogant. Maybe it's not your cup of tea, but traders can and have proven extremely profitable using "proper" money management trading bitcoin. Perhaps you should take your own "take it easy" advice. :) I think a "true" trader values TA no matter what the market it and/or values FA, which, worldwide, might be argued as bullish in this market. However, drawing a bunch of descending triangles on a chart and calling a market a "get rich quick scheme" is not true TA or true FA. However, I am happy to know how I am wrong about this.
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Technician TOP windjc
2 years ago
101 Technical Analysis: Technical Analysis is applicable ONLY on instruments with "sufficient trading Volume". sufficient trading volume makes an instrument more liquid , less volatile as there is always demand and supply at each price tick. Reaching an extreme of Moving 30 percent a day the so called "bitcoin" makes this thing nothing but a get rich quick scheme. Unless ur a long term investor looking to buy and hold for a long time. I DON'T base my views on assumptions such as "traders can and have proven extremely profitable using "proper" money management trading bitcoin" .. I base it on real educated facts.
-2 Reply
flibbr windjc
2 years ago
I agree with you. this guy's attitude comes across as very arrogant.
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Technician TOP flibbr
2 years ago
Unfortunately, Instead of arguing in an objective manner, at-least with some rational points such as some of the great comments posted by other users, I hear such conclusions and personal attacks.
-2 Reply
Technician TOP Technician
2 years ago
We are entitled to the freedom of speech, opinion. Do not make things personal.
-2 Reply
Technician TOP Technician
2 years ago
Unless you have no reasoning, that would make you aggressive
-2 Reply
flibbr Technician
2 years ago
Can't be arsed to argue with you. Waste of my time. Have better things to do than be a preacher. I'm just 2nding this guys comment on his thoughts that your arrogant. I agree with him.
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Technician TOP flibbr
2 years ago
Thanks god I am :).
-2 Reply
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flibbr FaultyKid
2 years ago
zzzz. Thats how much I care.
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EmadRizkalla flibbr
2 years ago
This is going down. Now flibbr we all know you are a pumper and dumper of the good old buttcoin, but do not lash out on my buddy Technician. He knows that this is a get rich quick scheme. Maybe you are so smart as to get out before the hammer falls, but I think you are not that bright and your arse will be sitting on a burning floor with a large pipe hanging out of it and no lube to ease the pain when the music stops and you do not have a chair pal.
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flibbr EmadRizkalla
2 years ago
LOL.
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CrazyC_BTC
2 years ago
if this chart plays out, well hope there's a suicide hotline for bitcoiners
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oregon-guy CrazyC_BTC
2 years ago
Ummm...what's the number for that hotline again :/
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fxtrader66
2 years ago
Bitcoins are IMHO THE GREAT DIGITAL TULIP BUBBLE. Using a fibonacci cycle, The Tulip Bubble popped 377 years ago. If there was to be another get rich scheme bubble, Bitcoins could be it. 377 is in the fibonacci sequence and could be pointing to the next bubble, whereas investors throw common sense out the window and try to get rich quick.
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Muwa fxtrader66
2 years ago
Comparing a silly plant craze of the 17th century to a highly sophisticated math-based asset is laughable. Read Satoshi's white paper on bitcoin and you will realize how powerful this technology is: https://bitcoin.org/bitcoin.pdf
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Technician TOP Muwa
2 years ago
Many thanks for this useful paper
-1 Reply
nj47 Technician
2 years ago
Hold on, you are making speculations on something you haven't even read the most fundamental information about? How can you claim to even have a shred of credibility on the topic?

ESPECIALLY when a few posts up you say this: "101 Technical Analysis: Technical Analysis is applicable ONLY on instruments with "sufficient trading Volume". sufficient trading volume makes an instrument more liquid , less volatile as there is always demand and supply at each price tick. Reaching an extreme of Moving 30 percent a day the so called "bitcoin" makes this thing nothing but a get rich quick scheme. Unless ur a long term investor looking to buy and hold for a long time. I DON'T base my views on assumptions such as "traders can and have proven extremely profitable using "proper" money management trading bitcoin" .. I base it on real educated facts."

But this entire model is made up of technical analysis. You can't have it both ways, either bitcoin fits the model of technical analysis, and this chart may have some validity in it, or it doesn't fit the model, and this chart is 100% wild speculation.

Which is it?
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EmadRizkalla Technician
2 years ago
Yes thanks for this useful paper. I ran out of tp and wiped my arse with it. "Math-based asset", are you a complete stooge? You is the most laughable statement I have heard from you bitcoin pumpers and dumpers.
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fxtrader66 Muwa
2 years ago
I am comparing the psychology, not the actual instruments. Bitcoins are good for transferring currency between two parties. However, the way investors chased price up to highs looked like a bubble to me.
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Technician TOP fxtrader66
2 years ago
BITCOINS will have no place within the financial system unless Big banks, governments decided to do. There will no place for a news system that may threaten the integrity of the current financial system.
-2 Reply
Technician TOP Technician
2 years ago
Bitcoins to succeed should be adopted by the current dominant monetary system in away or another, otherwise its a deadend.
-2 Reply
fxtrader66 Technician
2 years ago
Your last two comments took the words out my mouth. I just noticed ease/speed of transferring currency between two parties. But as you stated, they compete directly with the current banking system. Bitcoins will not last long unless the banks control them. Another aspect I did not like about them was, sending my money to an unknown "broker" or party with no legal recourse if I was ripped off.
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Technician TOP fxtrader66
2 years ago
Absolutely, its not a regulated. Also the current financial transactions are improving being more quick through technology.
-1 Reply
How about Mt. Gox filing for bankruptcy .. and guess what, BREAKING news : http://www.thedomains.com/2014/03/24/another-bitcoin-exchange-on-the-verge-of-bankruptcy-halts-withdrawals/ .. through "Electronista.com"
-1 Reply
Muwa Technician
2 years ago
Sadly this field attracts a lot of hackers and scammers, but that's not bitcoin's fault but the human aspect of the eco-system. Bitcoin does not need regulation, but its exchanges do.
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Technician TOP Muwa
2 years ago
Agree. I think everyone should assess very carefully the dangers of this investment vehicle(if allowed to use this term).
By the way my post was meant to be nothing more than an alarm.(I might be wrong, i don't have all the information) But at-least i try to contribute. But Its really unfortunate to see people react in such manner.
-1 Reply
usaoscoin40 Technician
2 years ago
Say anything bad about bitcoin and expect a full attack on your views and character.
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TheChasm Technician
2 years ago
Just cause one company fails doesn't mean the whole industry fails. You are smart enough to know that though. The thing is I imagine you haven't read how Bitcoin works and all the benefits/opportunities it presents. There is much good news along with the bad. The only way it would go to 0 is if there was a problem with bitcoin itself.
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Technician TOP TheChasm
2 years ago
I meant it would worth much less . It might not go to zero, but it will probably go back below $50
-1 Reply
TheChasm Technician
2 years ago
It's going to be fun to come back here to this chart in 3 months and see who is right :) All is fair in bragging rights to winner!
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Technician TOP TheChasm
2 years ago
Yep, I bet that its going below 50 :)
-1 Reply
TheChasm Technician
2 years ago
okay I'll be ambitious and say we are in thousands again
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Technician TOP TheChasm
2 years ago
Fair enough , but lets give it a one year window
-1 Reply
TheChasm Technician
2 years ago
pfft by then I would have either cashed in or moved on. Either way I doubt i'll remember to come in here haha. We'll talk month to month
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Technician TOP TheChasm
2 years ago
Sure Sir :)
-1 Reply
Toutatis_4179 Technician
2 years ago
I will come back and see who wins....
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Technician TOP Toutatis_4179
2 years ago
:)
-1 Reply
Toutatis_4179 Technician
2 years ago
Not sure it is is too early to come back to check the result... I will post another response in a minute to explain what my doubt is...
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ItisCalvin TheChasm
2 years ago
The bet still on? Lol. I'm having fun reading all these comments.
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TheChasm Technician
2 years ago
Nice try :D
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Technician TOP TheChasm
2 years ago
Ofcourse :)
-1 Reply
Corelianer
2 years ago
Hey you are too early, 1st April is next week
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Technician TOP Corelianer
2 years ago
:D
-1 Reply
After reading all the insulting comments adressed to technician, I have to interfere because I think it is unfair to insult someone for a chart, especially when that someone has drawn a lot of great charts. Furthermore, accusing a person of not using TA properly when he says short BTCUSD is, let's say the nice word again, unfair. So, fellow users, the bitcoin move is parabolic. What does it write in the TA textbooks about parabolic moves? They come back where they started!!! So don't insult someone before you actually know all the story.

PS : I don't know anything about BTC, I do not watch it, I do not try to forecast it. This comment is adressed to those who are blaming the TA used in this chart.
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FlaviusTodorius
2 years ago
Actually, the big mistake here is to treat the bitcoin price like a classical asset. Bitcoin's protocol is a technology, and follows the adoption rate.
The adoption rate of a new technology is exponential, see for example the adoption of the internet. The number of transactions and the number of new wallets
is rising exponentially. And because still only a tiny fraction of the population use bitcoin, there is so much more room to grow. The only way bitcoin goes to zero is
that it is fundamentally flawed, or there is an irreparable bug. Which there probably isn't. Therefore this prediction is utterly useless. Good for a short amusement maybe.
I'll check back here when bitcoin hits 5000 this year.
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Technician TOP FlaviusTodorius
2 years ago
Great Point, I made an update that its going below 50, not zero. Anyway good luck.
-1 Reply
EmadRizkalla FlaviusTodorius
2 years ago
FlaviusTodoriusMoronicus = MAJOR BITCOIN PUMPER :) = Biased = Roman Stooge Wannabe.
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jago25_98
2 years ago
Hold physical. Hedge via shorting the CFD. What's the big deal?
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What a discussion!:)
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Algokid PRO
2 years ago
OOF ! ballsy chart.. I will monitor this chart. Although I don't trade or hold any BTC, I started reading on it .On one hand , we have people calling it a scam, but on the other hand , we have investor in Sllicon Valley investing millions of dollars in it , and some retail stores accepting it for payment. Also, the fact that the IRS qualified it as a property, hence taxable, can we assume that BTC are now legit ? ( Although the ruling is not favorable to BTC holders/miners). Interesting times. thank for sharing this.
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Technician TOP Algokid
2 years ago
Its legitimate as a property , not as money so far.
-1 Reply
edubai Technician
2 years ago
your chart is accurate until now.. i hope it crashes to 10$ :)
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Mirandole
2 years ago
Thx Technician to started a polemic about Bitcoin. I like debates, it is very usefull :)
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Technician TOP Mirandole
2 years ago
Anytime Serge :)
-1 Reply
MrJozza
2 years ago
I love it. I can't wait to pick up my 15000 BTC
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The IRS considers Bitcoin as a property now, accordingly capital gains must be reported and taxed differently. Do you know what does that means? it simply means that every transaction made even the simplest should be reported, and that would practically un-doable taxpayers and may cause taxpayers to avoid using virtual currency. Also the IRS could chase after anyone who quietly spends bitcoins that are more valuable than when earlier purchased
-1 Reply
Mirandole Technician
2 years ago
For every problems there are solutions. A good app scanning your BTC transaction will help you with gov taxations.

http://libratax.com/
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Technician TOP Mirandole
2 years ago
:0).. I think by adopting bitcoin, you're just fighting the system.
-1 Reply
Mirandole Technician
2 years ago
Which system ? xD
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TheChasm Technician
2 years ago
Systems come and go and can be good or bad. The only certainty is that they will continue to change.
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Corelianer Technician
2 years ago
Seriously that's like saying you have to pay taxes on your cash. Who is going to tell them how much cash you have under you mattress? The govs can't controll digital property. They can't controll digital copies, how do they want to controll a few numbers?
BTC is a gamechanger
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FaultyKid
2 years ago
And look at that $380, lol. Halfway down. Wonder how traders nerves are with that sort of volatility.
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timwest PRO
2 years ago
You are right on with this forecast after one month - great job! I love a bold forecast when backed up with cogent arguments, then couple that with a trading plan and you are all set. Keep it up! Nice going.
-1 Reply
Technician TOP timwest
2 years ago
Thanks tim, I actually learn from you
-1 Reply
timwest PRO Technician
2 years ago
Thanks for saying that and it is good to have your input. I think of this as "Team TradingView". We are all successful if we work together.
-1 Reply
Technician TOP timwest
2 years ago
Absolutely. I am always ready to do so.
-1 Reply
Romney_Style
2 years ago
So you are short, or just trolling?
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ItisCalvin Romney_Style
2 years ago
IKR. Kinda like talking with people on GLP. I'm like, "If you are so bearish than short Bitcoin." Don't think they are because there is huge risk/reward ratio that could shaft them in the end. But if they only put say $1k in that may not be so bad of a loss if it goes to da moon.
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djflowmaster
2 years ago
Great insight on the chart there!
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Technician TOP djflowmaster
2 years ago
thanks :)
-1 Reply
windjc Technician
2 years ago
No offense here as I am currently a bitcoin bear. But until we break down below $150 I don't think much congratulations on your great call is in order. Anyone with a bearish view can see that this pattern will continue.

Until it doesn't. Then this will just be another in a long line of "bitcoin is dead" archives scattered deep throughout the internet. Its easy to be right when you are predicting the current trend. But, unless we break down below 260 and that acts as resistance, then color me unimpressed with this prediction.

If that happens, I will congratulate you on your chart. Right now, though, I think your lack of education regarding the fundamentals of bitcoin will leave your chart ultimately incorrect. In a big way.
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Technician TOP windjc
2 years ago
Your right, nothing yet, I would be satisfied only if it breaks below 100.
-1 Reply
hemlockii
2 years ago
BTC doesn't need permission from the current gatekeepers to exist.
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pecivalec
2 years ago
your chart looks flawed. It is getting to zero point faster than the trend shows. This is correct, real logaritmic chart:
http://www.cryptocoinsnews.com/wp-content/uploads/2014/03/Bitcoin-Technical-II.jpg
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Well, looks like your prediction is indeed what it was back when you posted it the first time, surprise surprise: Senseless trolling and utter garbage.
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Technician TOP FlaviusTodorius67
2 years ago
You gotta accept others Views even towards your most precious, otherwise there is no place for you here.
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FlaviusTodorius67 Technician
2 years ago
I have respect for others opinions if they are based on logic and sound analysis. In that 5 month bear market, a lot of people made good analyses, which indeed convinced me, even though I am long term bullish on BTC. But your prediction seemed very biased, like you wished for BTC to go to zero. Drawing three lines is not enough for quality TA, there are a lot of other factors at play. For example the lower slope is clearly invalid since the end of December, since block reward halving occured there, effectively steepening the adoption slope. Or what about volume, long term VWAP and so on, all missing. I could also draw a few lines from the 2011 bubble, prolong them, and proclaim that based on the, we'll probably see 100K$/BTC this year. This would also be biased towards the other direction. I respect bearish opinions, just not extremes based on personal bias, devoid of any deep reasoning.
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FlaviusTodorius67 FlaviusTodorius67
2 years ago
Edit: I mean the lower slope is invalid since December 2012, where the block halving occured.
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Technician TOP FlaviusTodorius67
2 years ago
Regardless of what you believe or what i believe, its not any one business to know my motives of this prediction, i might willing to keep it private!, so that doesn't give you the right to attack me or anyone else or to make any assumption about my bias. Know your limits.
-1 Reply
Technician TOP Technician
2 years ago
If I said that the market will crash 10 percent in one day in march of 2010 flash crash , the dow dropped 1000 points before recovering the losses in no time. People might call this "extreme personal bias" .
-1 Reply
flibbr Technician
2 years ago
IMO your lack of knowledge and understanding towards bitcoin ~ and your bias has been shown by your comments in this threat... which is no wonder other people see and recognise this in their comments to you also. I mean lets face it, "no serious trader would be trading this instrument.", after all, "its not a real market"... etc
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Kazonomics PRO Technician
2 years ago
All your insights are appreciated and respected in the community even from those that do not post much your name is dropped to me almost daily. I recommend you to all my followers. Keep posting your "bias" man we love it!!
+1 Reply
Technician TOP Kazonomics
2 years ago
I am really thankful for this Kaz, unfortunately some aren't able to handle the freedom of opinion, and that shows how much they are biased to their views and investment.
+1 Reply
Technician TOP Technician
2 years ago
You know we as traders don't get any compensation for publishing here, but ppl like you keeps us going.
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Algokid PRO Technician
2 years ago
Your contribution to this community is priceless, and as you can see, your reputation is solid. At the end of the day , your bearish call on BTC is just an opinion. If others can't handle it , don't click on the chart, it's that simple. Keep up the good work and block the "noise" ;)

cheers

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Technician TOP Algokid
2 years ago
Appreciate it Algokid
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Technician TOP flibbr
2 years ago
This was rude. RESPECT others.
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Technician TOP Technician
2 years ago
This is my last warning.
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flibbr Technician
2 years ago
What r u even talking about ? seriously...
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Kazonomics PRO Technician
2 years ago
I find all information valuable. When see closed minded bias put on display for the world to see we also get the advantage of knowing that these same folks will put their money to work in markets with the same logic or lack their of. They condition the objective data with their biases...to me, them pointing themselves out make for priceless information and data gathering when I need to understand market sentiments. Twitter is loaded with this type of information which we use very efficiently when combine with price structure.
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FlaviusTodorius67 Technician
2 years ago
I didn't question your integrity or personally attack you. I just wanted to say that you seem biased on bitcoin, that's all. Me probably too, but then again I don't post predictions that we're surely going to be at 10.000$ by the end of the year, or other exagarated bullish stuff.
You are probably a very capable TA practicioner and sure have good forecasts with stocks and other assets. But please just remember that bitcoin is not your typical stock. It's a network, a protocol, and as such fundamentally different than a stock. So, I was not questioning your capability in general. And if I came over as rude, I want to apologize.
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Technician TOP FlaviusTodorius67
2 years ago
Appreciate your explanation, but guyz i think your exaggerating the issue here, its just an opinion , maybe i am biased, but even though, don't make of it a big deal because u don't like it.
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johnrfraser Technician
2 years ago
Never mind all that...what's the consensus on next resistance level now we've passed 600? And half of the US just woke up to see big green bars?
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Technician TOP johnrfraser
2 years ago
Looking quickly at the chart as i am actually off for this week, taking 550 resistance as a short term positive sign, may extend to 700.
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johnrfraser Technician
2 years ago
From you that is very good news ;-) Thanks a lot for responding and have a good break, many thanks
John
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Kazonomics PRO johnrfraser
2 years ago
I have mapped all key levels and resistance since last year. All levels provide resistance to price
BTCUSD 3HR 3/23/2014 Update
BTCE prices 590 stopped it yesterday....537-565 contained the pull back. Your now in a range created from distribution before the March roll. 590 626 648.5 are worth watching....minor minor levels in here will be 616.5-619 and 637. I was actively making both sides of the market in this range so I was able to watch a larger trade in the book set these levels. GL
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tristyan
2 years ago
What price will it take for bitcoin to reach before you would be willing to accept you might be wrong on this one? <$10 you are right >? you are wrong.
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Technician TOP tristyan
2 years ago
I am happy if i will be wrong :). but dont think so :)
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tristyan Technician
2 years ago
Sure, but you have put a time frame and price to confirm if you are correct. Are you bold enough to do the same for if you are wrong?
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Technician TOP tristyan
2 years ago
Bubbles always reach irrational prices, so cannot be predicted, but what i am looking for is bitcoin will be much much cheaper over the long term,
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tristyan Technician
2 years ago
Remember this has been said about bitcoin on every bubble and historically everyone has been proven wrong. Not to say that you are wrong but I am betting against you on this one.
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Technician TOP tristyan
2 years ago
That is fair enough :). Hope it will skyrocket and prove me wrong and everyone betting on it gets rich :) . I always remember that the idea of bitcoins is a good human idea, but as anything else, humans will probably destroy it for the sake of their own benefits.
+1 Reply
tristyan Technician
2 years ago
If you want to follow the bubble watch of bitcoin, you can see a historical comparison here http://imgur.com/a/w5srF
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Toutatis_4179 Technician
2 years ago
Here is the other response: All bubbles will collapse over the long term - I don't think there is a need to predict that because it is going to happen for sure. However, what is more relevant to a speculator is whether the bubble has reached the top and when it is going to collapse. So, if you were saying that the bubble top had formed, then I would appreciate your forecast whether it proves right or wrong. If you were saying the bubble top had formed and then realized that you were wrong but unwilling to admit it, and use the long term collapse as an excuse, then I have to say you are indeed biased. If you were really just predicting that the bitcoin bubble will eventually collapse whether in one year or in 100 years, then I would suggest the red arrows be removed, because they are very misleading. Could you please clarify? It's true that everyone has his/her opinion. However, one's opinion could have a significant impact on others. This is particularly true for a person with a very good reputation like you.
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Technician TOP Toutatis_4179
2 years ago
Thanks for your input, u have a really good point, but to be honest, no one can predict the direction of an instrument precisely through "arrows" , that was only way to illustrate my point that btc is heading lower, i expect that you know that very well as trader. I mentioned in every comment i wrote since publishing this chart that its my long term view for btc. I also I mentioned that this is not a trade its a view.

I mentioned in the description that "its going below 50 within the coming months". i could be wrong on this, but i still have some time, and i will Gladly admit it if the year ends without reaching substantially lower levels from here. :) ..
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Toutatis_4179 Technician
2 years ago
Thanks for your clarification. I personally agree with you that the price will probably reach substantially lower level by the end of the year. At the same time, I would not be surprised if the price reaches 1000 USD again before collapsing, simply because of market manipulation. Let's see what's going to happen...
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ijl53
2 years ago
Good luck with that
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crypt0inlov3 ijl53
2 years ago
Gotta go with ijl53 on this one...strongly disagree with this chart.
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EmadRizkalla crypt0inlov3
2 years ago
And I agree that you are a crypto douche and a bitcoin pumper. Please buy a chair for yourself with your buttcoin; before the music stops and you don't have one :)
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Are we heading back 400 handle for now?
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Technician TOP Technician
2 years ago
snapshot
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snapshot
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Technician TOP Technician
2 years ago
wow, watch-out landing at the crucial support
snapshot
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Sir, you're a bit too emotional.
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timwest PRO J.Livermore
2 years ago
Which "Sir" are you replying to?
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timwest PRO
2 years ago
I love the boldness of your title. I wish I had thought of that one! Brave
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elp
2 years ago
WOW, five months and this chart is still a hot topic! You must be on to something, because plenty hateful comments directed towards this chart.
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Marek99 PRO
2 years ago
To PUT it Simply,.... You can't outlaw something on the Internet.

You can't outlaw stuff that is on the net,. If you believe that the GOV can in effect destroy anything on the Internet then clearly you took the wrong pill.
that makes you think the GOV can out;aw spitting, lol People will do it more.

BTC is here to stay unless its security gets compromised. That is the only way to beat BTC, which is doable too..
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CrazyC_BTC
2 years ago
its def been going down, but it's more profitable bringing it back to sub 100 levels slowly.
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Marek99 PRO
2 years ago
right, now that paypal gets into the game, right.... good idea,... NOT
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HerSerenity Marek99
2 years ago
yeah, you know, like, trading Bitcoin on big news has always been a tremendously smart idea.
snapshot


... NOT (etc)
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timwest PRO HerSerenity
2 years ago
We need this type of important news information "CLEARLY PLOTTED" on the charts to help us all out - nothing like a "news it out already = reverse" signal to be a great setup. It's easy to forget when news hits a market. Great graphic. This is the power of Team TradingView. Well done.
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HerSerenity Marek99
2 years ago
I've heard shorting is a fabulous substitute for hopium, maybe you should give it a try xD
+1 Reply
Marek99 PRO HerSerenity
2 years ago
I heard hopshorting is a sure way to loose $$$ ---- Bitcoin is going to go up. That's the reality, it needs a pull back, but I doubt you will see much of it.
But hey, what do I know. so Good Luck on that

Did you make any purchases using bitcoins, do you actually have any? hmm... O wait, you can buy a TSLA car ...
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HerSerenity Marek99
2 years ago
I'm using BTC whenever it's offered, simply for convenience reasons. The times of buy&hold are over, I currently don't own any BTC because all my fiat is locked up as security for crypto debt (obviously).

Bitcoin, in my eyes, is the greatest payment system and speculative asset on earth, and overbought until it hits a major historic support ($266/200 or $60 region), as shown in this idea :)
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Marek99 PRO HerSerenity
2 years ago
If all was "rosy" in the world I would totally agree w/u. But when you have folks like Pope Francis coming out and telling people that "peacemeal" www3 may have already begun... Ebola, coming Russian war, Syria, Qatar, and now Spain. Those assets which are not controlled by GOv tend to do up? in times of uncertainty,
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RamaDeda
2 years ago
mmmmm, I just press the play button and I saw something different from your view! Why?
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Breaking the minor trend line in may 2014 just delayed the move, didn't not negate it , still in the making ;)
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could this be the start of a bounce to 360+ ?
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WOW, Bitcoin hit $150 today, i am really excited
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timwest PRO Technician
2 years ago
It's a great call you have made! And a great call on Copper too :-) !!
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Technician TOP timwest
2 years ago
Thanks tim , learn from you :)
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minbari PRO Technician
2 years ago
I've re-read this thread, wow so many haters
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Technician TOP minbari
2 years ago
Honestly, My intentions weren't mean :)
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skoa minbari
2 years ago
Yeah, it's hilarious reading all that BS with the hindsight of knowing how wrong they were. :D
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karatepeadem
2 years ago
It seems worked almost.
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Technician TOP karatepeadem
2 years ago
I think we still need to test levels below $100
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CrazyC Technician
2 years ago
yes sub 100 is coming, these delusional bitcoiners will be jumping out of windows once they realize double digits is gauranteed and single digits on the table
great call last year like always
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LastBattle
2 years ago
Feel sorry for you Technician, all the newbies thumbing down.
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malotiin PRO
2 years ago
Hi;
Thanks for your opinion. I've been following you for a while and I really think you are an skilled financial analyst of fx markets.
In the case of bitcoins or other criptocurrencies, I'll suggest you to have an advice from a computer engineer with a max of 10 years working in criptography and ask him for advice before you really think this "thing" is a newbie fashion commodity that has its final date already writen. My forecast is only one: This "thing" has its own future for sure. And it will be having more volume by new&old users sooner that you thought.

Who I'm? Im a newbie finance trader but a quite experienced system analyst.

Best wishes
+1 Reply
Technician TOP malotiin
2 years ago
Thanks for your advise :) . I still think its going below $100 though
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drei4u
2 years ago
I got to admit that downward trendline, acting like a declining support has been very accurate since May 2014.
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Algokid PRO
2 years ago
+ 52.6 % since publishing this " controversial" chart. Not too shabby at all . Do you still think it will go to $0 ?
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Technician TOP Algokid
2 years ago
You mean - 52%? .. I still think its going to around $50, as i mentioned when i published the chart.
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Algokid PRO Technician
2 years ago
well + 52 % in terms of P/L if one took the short position
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Technician TOP Algokid
2 years ago
oh ok. still see more hopefully...
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nicholasjf
2 years ago
I understand where Technician is coming from - and I run a bitcoin company. We have to juggle between not having too many because clearly we don't want to be holding stock in something that is clearly falling. Nor do we want clients wanting to buy and we don't have the stock to sell them.
So it's like a tightrope situation. A big buyer might call and say I'll be in tomorrow for x BTC. My heart sort of sinks at present because we have to get the BTC ready but by the time the client turns up we could be selling them for less than we paid. I think if you understand BTC and believe in its long-term future - like I vehemently do - I can understand why you might be ruffled by Technician's thoughts. But he is probably right - if only for now.
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Technician TOP nicholasjf
2 years ago
I really wish luck to everyone. Maybe bitcoin prices will find demand again in the future. However, i have a fundamental view about the concept of "Money" , where I see a big issue of the idea of infinite generation of money, i.e. like what the FED is doing, printing money that's not backed by any real asset.. The idea goes similar to bitcoin. Theoretically, bitcoin generation is not backed by any real asset and can be infinite as long as you have the equipment and the time to generate it..
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yomofoV PRO Technician
2 years ago
theres a hard limit of 21 million bitcoins to ever exist. mining stops once 21 million are mined. the blockchain will self destruct.
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nicholasjf Technician
2 years ago
To say that "bitcoin can be infinite" shows your knowledge of this market is woeful.
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nicholasjf Technician
2 years ago
Only risen about 100 times what it was worth in little more than 4 years....crap investment. Don't wish to sound rude, but a little less technical to concentrate on the bigger picture?
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Technician TOP nicholasjf
2 years ago
This is all speculative bubble.. and YEAH ITS INFINITE with NO INTRINSIC VALUE. " 21 million bitcoins to ever exist" is non-sense and means nothing
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SunnyBTC PRO Technician
2 years ago
Try to think about the poor hornets in the nest you are kicking :D LOL
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Technician TOP SunnyBTC
2 years ago
Don't mean to attack anyone, but some ppl dont accept that views differ and it could be totally against them
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nicholasjf Technician
2 years ago
Why does it mean nothing? There will never be more than 21m btc. And 2/3rds already mined. Cash does not have any intrinsic value...it's worth what the government tells us it's worth. Bitcoin is worth just what the people thinks it's worth. But unlike cash you can't print more than 21m.
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Technician TOP nicholasjf
2 years ago
This is a man made limit, that can be readjusted and changed. Its not a rare resource per se. So saying that there is a limit is nothing but complete non-sense. Just like printing money from thin air, not backed by our earths rare resources that makes the fiat money system a complete next coming failure.
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nicholasjf Technician
2 years ago
No, it's hard-coded. There can never be more than 21m bitcoins in circulation, thanks to the genius who invented it. In fact there will always be quite a bit less due to loss. You might be good at charting but your knowledge of BTC is incredibly naive. BTC companies are the biggest funded tech companies around the world today. Why do you think that is. Not selling tulips.
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Technician TOP nicholasjf
2 years ago
That's why we hear of new crypto-currency every year.. Its un-realistic to argue with some whos heavily invested in bitcoins.
Good luck with your knowledge.
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blackswan Technician
2 years ago
@Technician

great call and analysis! pretty impressive of you.. :)
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Technician TOP blackswan
2 years ago
Thank you
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nicholasjf Technician
2 years ago
Doesn't matter to us whether it goes up or down - we buy as well as sell.
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nicholasjf Technician
2 years ago
Obviously if it went to zero (which is posiible) we would have a problem. :-)
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niconaylor
2 years ago
Wrong
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RobinBu
2 years ago
fail
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RazZo
a year ago
The Wall Street Journal Bitcoin to 100$ today! read the news.. http://bit.ly/bitcoin-wsj-100-130-dollar-dump
look at the news hope for better
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BitRod
5 months ago
I still like to come look at this for a good laugh. hehe bitcoin at $700
+3 Reply
FlaviusTodorius67
5 months ago
Epic fail prediction.
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