If you read my previous chart analysis of Bitcoin , you can see what i was writing live, while it was happening and what i predicted it would do next during the many updates i wrote.
I am a bit surprised that the break out of Bitcoin is not really being shared by other coins, the last few days, with the exception of a few. That means for me that the hype engine is still not the same as it was. On top of that, i am not sure yet, but i think i see a bigger rising wedge developing from the 10.200 low, so we will probably see another move towards the 12K target, and from that point i think we are going to see a correction towards the low 10K. But for now it's just a guess, a plan i am already preparing and if it turns out that way, i will be prepared for it.
Summary, they stole people’s money again and they will play the same song again for the next few days. And the funny thing is, nobody knows and probably don’t even care! White collar thief’s and there is nobody stopping them!
Why are the Whales so greedy? With all those $100's of millions... yet they are addicted to their cocaine.
This is the difference between the logarithmic v.s. linear chart on the price scale. The higher the price, the less significant space in the vertical axis. C.f. e.g. Litecoin moves from $4 to $12 (an $8 move) v.s. $400 to $408 (also an $8 move).
Personally, I think this market is so speculative and "out-there" that it's really just a game for some Big Players to capitalize on the public's hopes, dreams and desires as well as their fears.
No one cared about cryptocurrency 2 years ago.. why all-of-the-sudden is it so special and dear to all these people that they start all these YouTube channels?
It's special because of the price action and the gains were nothing short of incredible.
I think there is some practical application for cryptos beyond Bitcoin; however it's so new, speculative and untested. I don't know how to asses the value of stuff that is still in alpha or beta stage and not actually being used for anything.
Personally, I prefer Microsoft Azure over Ethereum any day.
I've always liked Bitcoin though... But I think its price is absurd at this point in time.