Would take lots of profits here! As you can see, BTC could break out through the resistance line past 8.5k but the higher % logical fundamentals ---> ALOT of correction when bitcoins come pouring back to the exchanges. U wanna get out 2 weeks early rather than 1 second late. Take profits and invest in an undervalued asset class like precious metals instead. U don't have to panic sell but because of the volatility of bitcoin it's rather better to sell early than later. If you hold a lot of bitcoins perhaps save a few for "the gamble", this market is 100% emotionally driven so you have some % of being able to pay the lottery still. Already the 2 biggest bubble in history only trailing the tulpitmania bubble of sixteen hundreds judging in terms of % growth. It's a bubble because of the scarcity only coming from expensive transactions.. IOTA or even BCH unfortunately shows that the mining aspect to energy ratio of processing transactions is really not an argument for a bigger price. There are not alternatives to gold in terms of precious metals.. There is silver, platinum etc.. but they are much different both in terms of availability and what function they serve and could serve in the future. The number of different Cryptos went crazy and the notion that something can have only speculative value falls apart if there is more than just a few alternatives to choose from that performs the same function but for the fraction of the price. Bitcoin would work if there was only bitcoin, unfortunately the banking cartel knew this and has been pushing for the hundreds of different of ico's that's popped up. They are using Bitcoin etc as the useful idiot to introduce humanity to the cashless society where they plan to force the people to spend their money by being able to go below 0 interest rate wise --> charge u to hold money --> u must spend it. All fiat dollars held abroad will be worth nothing --> that their debt won't matter anymore. If you honestly doesn't see this yet, research AI, Sophia, Singularitynet, Peter Thiel, Satoshi connection to CIA/NSA blockchain papers 1996, IMF 2011 plan for cashless society where the citizens themselves brings about the change willingly, the beast system, image of the beast, antichrist, new world order, depopulation agenda, one world currency, Rothschilds, economist magazine cover 1980, bilderberg group, history of gold, how the central banks privately owned has spread since the beginning through wars etc.. //ThefreedomMatrix
@sciack, Have been investing in Ethereum, Bitcoin, Ripple. What's so crazy with taking profits? How long have you been trading? This is the 2nd biggest "bubble" in current history. i didn't made that up. here is that fact precented for you in a nice chart comparison with the tulpit bubble as with the other ones... i.imgur.com/nGkGePg.png
angelalee82
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I call bullshit, invest in Gold? ha. You've got a short that's not getting filled.
thefreedommatrix
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@angelalee82, Sure, but know that the 1% are laughing there ass of with the whole crypto thing... Meanwhile yield curve flattens and everyone runs for the crypto exist, great they perserve their wealth, while people get ether code. I was in on the hype before it got out of hand and it was 100% clear what was going on.
U don't have to believe me, do your own research as i said. Reality will speak for itself in 3 years time
thefreedommatrix
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@thefreedommatrix, try measure gold in terms of S&P or DJI and then tell me if that's not one heck of an undervalued asset not even taken into account how its purchasing power has stayed intact for 3000 years... Come back to me when Crypto does that.
Dollar has been devalued 97+% and you know that bitcoin as well as all other cryptos are valued in terms of dollars right? In Zimbabwee u need 100000000000000... to buy a loaf of bread.. Now is 8k usd bitcoin much when taken into account that dollar is soon dead, following the same fate as more than 400 other currencies..
Its a wealth transfer mechanism, that stretches back hundreds, thousands of years..
thefreedommatrix
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@angelalee82, I am more than happy to learn a thing or two, so u are free to give me insight if you know something that will change my mind
angelalee82
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@thefreedommatrix, Sorry just seen your reply. Long story short we have nothing to compare btc to and if it does crash / major correction and flatlines thats a good thing as it gives it more use cases in the real world. You mentioned 3 years, not sure why but remember there is the halvening that happens in 2020. That is something we can measure, along with the tried n true 25-35% corrections which have happened after every "bubble".
I'm not sure I can teach you any more than you can teach me, just throwing out the only few indicators we have to work with.
In my opinion, the early adopters have held most of their btc. Split some off into the various alts and lived pretty comfy with the rest. The geek mindset has perhaps changed from btc is king to bring on dapps. We're in a revolution, the banks have never started one that I know of. Bank money will likely make things extremely volatile for a little bit. meanwhile we still have the "dumb money" to pour in, which nobody knows when that stops.
My advice, don't compare btc to anything except previous btc events because... there has never been anything like it.It is beautiul that we've hit these highs because now we have something to compare crypto's to and it is no longer inconceivable that an on-line currency can be worth a solid 5 figures.
If you got in early, keep a good stash of btc aside, it might be worth a fortune, it might be devalued but crypto's and blockchain are here to stay. Hopefully you got in early. Have pulled out your initial investment (+ some), hold a nice stash of both btc and alts.
Wish you all the best in your ventures, let me know if you have any non speculative questions or want to bounce ideas, we're obviously of different mindsets and that is the best way to learn..
Cheers,
a
rubenthin
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When you say 'bitcoins come pouring back to the exchanges' are you talking about BTC that people have put in private wallets to ride out the forks and secure the new forked coins, then bringing them back to the exchanges once they're done? Or something else?
thefreedommatrix
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@rubenthin, well try selling 14 million usd worth of bitcoins... took 1-2 weeks for a client of my dads bank... Its a religion and a useful idiot unfort. that the banksters use.. Soon they will manipulate it just like the spot market of gold/silver.
rubenthin
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@thefreedommatrix, I think what you're saying to me, although it was so clouded by attitude, that I can't really be sure - is that your father took 2 weeks to move 7000 BTC for someone and that you perceive this isolated incident as a mass 'pouring ' back' of BTC into exchanges?
Just a friendly note - mine was the only unloaded non aggressive inquiry you actually got - I only asked a question in case you had some valuable insight - wading in with 'well you try this then' and 'Daddy's bank did this or that with millions of dollars' is probably not the path to the respect that you seek.