BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
I look at the 15m chart, the 1 hour chart the 4 hour chart and I think, this might be bouncing back up sooner than expected ...

but then I look at the daily and weekly, and I think mmm , not so fast ... there's still a lot of downwards pressure ...

and then I look at the monthly chart and I'm convinced;
we're about to find out what the lowest monthly rsi is, for no other reason but to find out; we don't know that yet; we don't know what the monthly rsi bottom is ... we're about to find out !!

but then I have 1 more peak at the 15 min chart and poof, just like that I'm convinced; MOON INCOMING !!

so ... it could either way ... it's 1 of those moments that it's a question of ... how much more tether can those exchange print until their little scam implodes on itself ?!?

those white arrows are just there to point out that we're now exactly on the median long term trend line ; right now this is the best median price for bitcoin ; this is right smack bang in the middle of it; this is the average;
in theory; we should just stay here and very, very slowly go up ... that will of course never happen, we do know that for sure ;-)

translation; I'm 50/50 ... half in fiat and half in bitcoin , so no matter what it does; my total stays exactly the same
Comment: last week or so Crypto Daily made a good point; what if bitcoin simply isn't a currency, but is a speculative asst in it's own right and ... that has been spooking in my mind ever since ... he might be right

although bitcoin was supposed to be a currency, as long it doesn't reach his full value, it's just too volatile for a currency, yet ... nothing to stop it from being a speculative asset, simply because that's what we made of it ... and that's what we want it to be, isn't ?!?
Comment: the last few days i've been looking at bitcoin while making the assumption that most people want bitcoin to be a speculative asset rather than a currency, so ... bitcoin IS a speculative asset, that's just how simple that works

and now all of a sudden everything makes more sense ... most people use bitcoin as an asset, not a currency, so ... bitcoin is an asset, end of story ...

translation; that's why it's possible for another bull run

you could say that in 2016-2017 bitcoin was making a run for it to make it as a currency, that failed, so why would bitcoin the currency go for another bull run then? what changed for the currency?

nothing, it's just that the next bull run will be one for bitcoin the asset ... whether or not bitcoin the asset makes it higher than bitcoin the currency is wait and see, but ... if we're about to take off for another bull run; that's why ... last year we were still a currency, now we're an asset; different game, different rules ... different players !!

does that make any sense?

Comments

Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out