On Aug 22 I already said that BTCUSD will going to reach 5k, maybe this Friday or next Monday or next Tuesday (of course if I was right)
The problem with BTCUSD is that this is the new currency which we don't have much highs/lows in the past in order to find a good resistance or support. So I think you all should be very careful in trading this new currency. Don't believe too much on rumors or where BTCUSD will be heading to. Instead, you should focus on the chart, on what you really see, and on what you really should do to protect your investment.
Back to work, where do you think BTC will go afterward? Small or Big Drop after reaching 5k area? Try to analyze your chart efficiently!
Oct 02
Comment: Back to this month, I didn't know that Bitcoin was 24/7. I primarily work on BRENT which is 24/5, so my prediction didn't count Saturday & Sunday
@mark.obradley @mightytrader I absolutely agree with you 2 that Bitcoin can be security or even digital commodity. For me, it's just a name. I only care about the true price. On the other hand, I think you are definitely right @mightytrader, we cannot make any assumption about the price, that's the biggest mistake we have, always try to predict where it goes. We should only know that the market always fluctuates and that's good enough for all of us.
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Bitcoin is a security and not really a currency. Currencies should not have extreme appreciation / depreciation and extreme volatility. Those factors make it useless as a currency. Can someone trade shares of Apple for a car or a laptop? Sure.

I really don't think the world is going to pour billion and billions more Yuan or USD into Bitcoin to get it close to $10K. I could be wrong, there are a lot of greedy people out there.
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mightytrader mark.obradley
@mark.obradley, Well it doesn't really matter the actual market cap because it's illusory anyway. I.e. The $75 or so marketcap is questionable. I think they pumped it with some counterfeit money. I heard about some exchanges allow leverage orders to be placed with USDT. :D $$$$
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mightytrader mark.obradley
@mark.obradley, I agree. BTC is not a currency. It's a "digial asset" or like a security.. but more like a commodity like gold... a digital commodity. And like gold, if you don't "hold" it, then you don't own it.
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mark.obradley mightytrader
@mightytrader, yes, no doubt the unregulated exchanges are manipulating the price upwards.
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mightytrader mark.obradley
@mark.obradley, * $75 Billion ; Btw: You can't make any assumptions about the price. Everytime I did, I failed miserably and missed out on lots of gains. No one can predict the end. BTC could very likely reach $10k before end of the year (or near it

The hundreds of billions make no sense. But neither does the amount of debt in the student loans or the banks with fractional reserve lending or the USD itself.

Remember in Zimbabwe they had trillion-dollar notes. In Germany they had billion dollar marks!
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