goldbug1
Long

BTC - Goldman Sach's Circle Buys Polinex - Are You Still a Bear?

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
For months we have been stating that eventually mainstream investors will pour into this market, along with Institutional and Fund Managers. Well today we have a news release from Reuters where Boston-based Circle has acquired a major US exchange Polinex. The investors include both The Goldman Sachs Group             and China’s Baidu Inc             .

This provides additional legitimacy to the space and as Goldman Sach’s has more compliance officers then coindesk has fake news articles, this is sure to start clearing regulatory hurdles moving forward. This will without a doubt lead to ETF among a flurry of other investment vehicles which is going to draw money into the space at an unprecedented rate.

Note the spike on the chart going into the news release that happened only 2 hours ago. But the charts were telling us the entire time there was bullish sentiment happening. Though many were calling for 2800 Bitcoin' we stood fast as a bull in a bear forest as we looked to the broader term market perspective while many were missing the forest for the trees. As news starts to spread this is sure to pump up the market especially among the top coins. Look for Bittrex and or Coinbase to be the next exchange up for grabs as JP Morgan HSBC' and other banks race to keep pace. For those that could not see the broader term perspective and ignored the inevitable they will soon be crying foul. I can not tell you how many comments I receive "how can you be bullish in a bear market", well because I had a broader term perspective of the market, and ignored the noise. We knew this was going to eventually happen for months now. Did you really think cryptos were not going to enter mainstream?

Goldman Sach’s by far has not only a world wide presence, but former employees are found in all aspects of government right up to our Treasury Secretary Steve Mnuchin. Talk about having an insider! After the senate hearings that were absolutely a positive for the space, this only adds credence and future opportunities for those who remain Long term bullish .

Nothing has changed on the chart, we still maintain the previous count as the 9350 level held nicely and 9070 was never even tested.

So Are You Still a Bear?
Comment: Ok before I get 100 you spelled it wrong here is the correct spelling. POLONIEX ;)

That was auto correct in word.
https://seekingcryptos.com/
https://twitter.com/therealgoldbug1


This correction was the biggest educational correction that my short (12 month) trading career has endured. Eyes are open for next time....touch wood. Ignore media FUD, look at the big picture unfolding behind the noise... @goldbug1 lesson 101 !
+1 Reply
bearish divergence on 1 hr bitfinex chart. been finding bearish divergence on all sorts of time frames through the day not to mention the big one on the 4hr that started the down trend at resistance at 12k mark.I want it to go up as much as anyone but not sure this push will be the one.
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@pwprice80, it will not. GB isn't bear yet
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yeah, boy. Crytos coming into acceptance--rock and rock for the top coins!! wooo--hooo!! thanks for the article, man.
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yes. down to 9k Look at downtrend line stalling it now. volume has dropped. and people are posting charts with Headlines all over "breaking trend line" when it hasn't. SELL....
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goldbug1 pwprice80
@pwprice80, How is it stalling? looks strong to me. Those green levels are levels we are looking for a reversal and though they have paused I see no reversal signal yet. Not to say we won't get one but nice continuation candle on the 12H. I think too many "traders" look at the 1 hour and not the broader move.

+2 Reply
@goldbug1, yeah only you looking at the broader move ;)
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@goldbug1, we are getting a lower high on your broader move. just saying ;)
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@pwprice80, run as fast as you can!
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When you own the Exchange don't you make money no matter which way the price of those things being traded goes?
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