Investroyllc

BITCOIN: BEAUTIFUL UPTREND BROKEN πŸ§™β€β™‚οΈ

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Howdy, traders! Hope everybody is doing great. Here is what currently going on with Bitcoin . It managed to break one of the interesting trendlines that has been working out pretty well so far. This might an indication of a weakening bull run, thus, we might expect slightly sub-50k$ levels before another bullish continuation. All the best and have an amazing week!
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Comments

I agree totally that we have broken a trend.
I do see that the illusion of long term strength may hold for a while.
My view has of course been wrong because I do not believe in buying things that have no intrinsic value.
I prefer gold because it has been around for over 6000 years.
I can imagine a situation where in a conflict ,lets not say war...you could go to a shop and buy a loaf of bread with a Vreneli (you might not get change...)
But cannot imagine you would be able to pay with bitcoin.
So for me trading it is futile.
I cannot short it because the market is rigged,I cannot buy it because the market is rigged.
I have studied most of the big bubbles and scams from South Sea Bubble to Tulips.
This is not something I want to own.
+1 Reply
panickyLion70080 thewickedwiz
@thewickedwiz, You CAN buy it, you just don't want to.
And don't compare bitcoin to tulip bubble, it just shows how little you now about bitcoin bubble.
+3 Reply
thewickedwiz panickyLion70080
@panickyLion70080, Actually experienced a few bubbles,including 87 and 2000 and 2007 /2008 from all sorts of angles.(trading very high volumes)
Did not experience the Tulip bubble despite being probably older than you...hope your humour is good enough to get that.
Maybe try reading the madness of crowds or Kindleberger.
I do not try to tell you what you may or may not know.
I express opinions as dispassionately as I can in order to get it right.
If you are emotionally tied to bitcoin then thats ok with me but I am not.
so be calm and make as much as you can while the going is good.
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CryptoMastyf thewickedwiz
@thewickedwiz,

Boomer alert XDXDXD
+1 Reply
DenisForget thewickedwiz
@thewickedwiz, Β« No intrinsic value.Β» The intrinsic value of Bitcoin is about energy. Blockchain infrastructures is also an intrinsic value that need energy for mining Bitcoin blocks.
+1 Reply
bdestacks thewickedwiz
@thewickedwiz, although I may disagree. Especially about gold (electronics would be my focus-supply/demand in that regard) it's all relative to the situation though. Even the dollar.
It's hard to trust anything to be honest...im 34 and I don't really trust any monetary systems because...well...humans are greedy. Ill ride the waves though and hopefully build a ship before I get run over by one.
Maybee we'll go Mad Maxx and trade water. Hopefully not Waterworld though.
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thewickedwiz bdestacks
@bdestacks, in 2000s held gold from 230 to about 800 sold too early,silver from 5 to 20 ,these things come back,now I hold about 20 per cent instead of cash.
Am long energy over IXC and other vehicles and long GSG somewhat larger.
One position in one "asset" is like betting on a number in roulette,key is to diversify in my humble view.
Also buying Land securties and British land in Uk.
and other real assets.
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nice work
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can someone tell me what is bitcoin's 20-week simple moving average? I cannot see it in the technicals.
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