Technician

Bitcoin Forecast: The One and Only Forecast

Short
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
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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.

Comments

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
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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"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
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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I really wonder if any serious trader trade this?
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TheChasm Technician
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 TheChasm
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.
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nicholasjf Technician
I know at least one "serious trader" who bought at 9p in 2011. Sold them for £1.5 mill.
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Technician nicholasjf
Good to know. For sure there are some rational traders trade bitcoin..
+1 Reply
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