Sadly from what I have heard...80% of BTC is still held by exchanges overseas allowing for a lot of manipulation. It is centralized by a few in power and easy to manipulate even though the technology is decentralized. BTC fans will hate me for saying that but hate the truth all you want. What is even scarier is that there is 71% dominance in btc over the entire market. I will sell the hell out of this if we head closer 20k before the end of the year. Still expect a hype before the futures bakkt storm. If we are closer to 20k before then...down we go...if we are closer to 6k ...up we go... pretty simple analysis thats based on factual sentiments of market behavior from history. Just re-applying some simplicity here. These prices don't look good for mass adoption of BTC. Nobody wants a crumb in an asset if you are apart of the mass population but they look good to push back to 20k and short again once they release futures on Bakkt.
IF you are a BTC fan..I need some schooling so please enlighten me on the production of BTC and what the hell is happening. For someone who is heavily into this I lack the protocol knowledge as to where these devs are taking it and what is going on. So don't hate me..just enlighten me..I am a fan of manipulation in this market and I can see it spike and drop but I also see our curvature happening around 7-8k zone like I stated awhile back once we got our levels set by the big investors.
Do you think they'll make it more appealing again around 7k? Or do you think the masses are shit out of luck this time and we will continue on forth up wave 2 into a new ATH? ...This technical analysis seems more realistic to me...a spike up making a head...a right shoulder...retest to 7-8k ...then up we go. I think a lot of people see it going lower than that or WISH for it to...but I just don't see BTC heading any lower than 6200 unless we get a big dump on purpose. Lots of exchanges are also closing due to regulation. Many adjustments are happening this year so volatility is going to be your best friend if you dont buy the middle!!!! DONT FORGET ELECTIONS ARE ALSO COMING UP AS WELL AS MORE TRADE WARS WITH JAPAN.
Where are my BTC fans? help a brother out! Thanks all! BTW I am attending a bankers Digital Asset meeting today. I will inform you what they say about DA if there is anything important.
I think you should zoom out this graph to 2011/2012 and try to imagine asking the same question then...
AschraM
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@Kobass, I think I just will do that Kobass :) which broker do you prefer me to view? Thank you for replying to the post as well. I am in it for the long haul on DA...but I have been out of BTC since 10,5 after we sold off our feb. holding from 3300. Just not sure how things are going to play out for this bad boy. There is massive amounts of growth on the network so I dont see it dying. Although I wish to buy back into it I just am not sure where at other than what I would like to happen which is get a nice buy in around the 6200 zone with the profits we made off the bull run from 2800 zone this year back up testing highs.
AschraM
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@Kobass, So I checked out the 2012 data...seems we just scooped once and shot up after the spike up and down back then...if these are the same players plus we might be seeing a much heaver spike and jump up beyond 20k. Oh man...im going to print this out to take a closer look because I just glanced at it after I read your comment. Thanks again Kobass.
Kobass
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@AlexSchram, pretty much the sky is the limit if you look at the historical picture. The best thing is it looks like it repeats every few years...
AschraM
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@Kobass, Agree. I have always thought of BTC as the bedrock for all the new DA's that the governments and regulatory agencies are allowing to stay. We don't go around paying things in gold these days but its heavy and pricey and costly to move :P I can only assume we will have that with our digital gold world of BTC. I have a Digital Asset intervention with an banking investor group here in a few hours. Im curious what they will be saying at this event with everything going on. Will inform my followers if there is anything good I hear or anything worth talking about.