Over here we use Elliot Wave Analysis, not silly S2F models lol
Pay attention to the SP500/Dow/Nasdaq, as a speculative risk asset, Bitcoin will be making up for its outperforming everything else by outperforming everything else in the opposite direction.
The total supply of cryptocurrencies is gradually increasing as newer and newer cryptos are being created all the time. Compare this with something like precious metals, that sure can be created in labs (the common argument), but it's more expensive to create these metals in the labs than it is to mine them. In comparison, you can go copy bitcoin's code via GitHub and copy paste for free (just making a blatant statement to make you understand the difference).
It's a pyramid scheme nothing else. Bitcoin probably has value though for being a way to transfer money when other more efficient methods for some reason may not be available. People simply just trade where the excitement is, and the excitement has always been in these new speculative assets, because with one's imagination (like silly S2F models) you can put the target anywhere, literally at astronomical levels.
I leave you with one of my favorite quotes of all time by Mr. Johann Wolfgang von Goethe: “Few people have the imagination for reality.”
The total supply of cryptocurrencies is gradually increasing as newer and newer cryptos are being created all the time. Compare this with something like precious metals, that sure can be created in labs (the common argument), but it's more expensive to create these metals in the labs than it is to mine them. In comparison, you can go copy bitcoin's code via GitHub and copy paste for free (just making a blatant statement to make you understand the difference).
It's a pyramid scheme nothing else. Bitcoin probably has value though for being a way to transfer money when other more efficient methods for some reason may not be available. People simply just trade where the excitement is, and the excitement has always been in these new speculative assets, because with one's imagination (like silly S2F models) you can put the target anywhere, literally at astronomical levels.
I leave you with one of my favorite quotes of all time by Mr. Johann Wolfgang von Goethe: “Few people have the imagination for reality.”
Trade closed: target reached:
I believe we are going higher, this idea is being closed while this ratio is sitting at 5.02.
(i dont think we are going to zero, and u should probably be buying this bitcoin/crypto dip)
6/30/2022
(i dont think we are going to zero, and u should probably be buying this bitcoin/crypto dip)
6/30/2022
Cheers ^