Don't be fooled by the breakouts as the price climbs down, re-buy under 20 sats
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Miraculously people are still buying Doge as the Satoshis drop and the BTC $$ value behind the Satoshis drops too - As the cowboys say - Get the heck out of Doge - I've done the Doge cycle 3 times, believe me this is how it plays out - the cahrt covers over 3 years, its there in plain sight
I just read what you had to say about DOGE on your recent XRP chart. Curious as to why you wouldn't reiterate same here...but you don't have to do nothing you don't want to. ;)
On another note, I'm willing to accept that DOGE is on it's way back down and I'm prepared to go into a months long margin short on it with Poloniex. I'm curious as to whether you have any knowledge on how expensive lending can get with DOGE.
Thanks for sharing your "ideas" ...love this format you're using. Following.
Nom_de_Guerre
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@cryptyx, Hey thanks very much *) It was more conversational about the Doge cycle on the Xrp chart but i see your point - i will do a relevant chart showing how I believe The Bank of Whales works
cryptyx
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@Nom_de_Guerre, I always wondered why them Dogies were so weighty and why they were allowed margin play on Poloniex. Not aware it's the same elsewhere. Looking forward to further thought on this from you.
Nom_de_Guerre
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@cryptyx, The first time i saw the Doge rooms i thought 'wtf is all this gangsta money doing here?' lol! Basically you know Btc has topped when Doge starts to go up, after the Doge cash-out its a good time to go into dollars - If you compare the peaks on Doge with the peaks on the Global Market Cap Chart before the big whole market crashes you'll find they happen very close to each other - Doges last 2 peaks were 8th jan 2018 and 22nd May 2017 - heres the global chart link have a look for yourself to see the peak dates and what happened after - I probably wont put this up as a chart, we'll keep this quiet haha - coinmarketcap.com/charts/
cryptyx
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@Nom_de_Guerre, haha, I was going to suggest not divulging any secrets causing the whales to migrate.
I did notice the regularity of DOGE movement over time and it really does explain it's place in the market. I allowed myself to buy a couple million YACC back in 2015 but released them into the wild when Poloniex delisted them. Perhaps I'll work on getting me a sizable herd of doggies over the next few cycles.
The link provided is interesting. Looks like XRP may be the first to intersect BTC on total market cap. Not saying that will ever make them worth over 300 USD as many HODLers believe but if Ripple is the one to first dethrone Bitcoin...so be it. Why would anyone be surprised by such a turn of events?
Thanks for the clarification.
cryptyx
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@cryptyx, should state I won't be shorting DOGE at this time, chart is looking suspiciously like a double bottom with a cup and strong handle formed. With this being the year of the dog I can almost smell the coming hype. Don't you?
Nom_de_Guerre
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@cryptyx, sorry bro i think its coming down, once it starts dropping it doesn't stop, volume is low, doge only has good volume on the way up if you look back - heres a day candle chart tradingview.com/chart/LntbUUie/
cryptyx
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@Nom_de_Guerre, You're right of course, not going to argue the point. Besides I've done well longing it from the low 30's to high 70's and shorting it from the low 70's to the low 60's.
Perhaps I'll go for the long short with the profits from my current short on XRP.
That's the beauty of margin trading. You can always get out with minimal loss. No bags...'cept BTC.
I will buy what I long at times though and sell out when I quit the trade.
Nom_de_Guerre
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I'm wrong plenty believe me! Really thanks for your comments and opinions and thats just my outtake, i have to believe in as its what i plan my trades around, but i've had enough kickings to know i'm not smarter than the market *)
cryptyx
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@Nom_de_Guerre, The only time I was really right was being the first to eat 1400 calories of Taco Bell and 6lbs watermelon for 100.00 USD in BTC (Just woke up and saw I received 0.4247 BTC from devthedev's escrow service. Courteous, prompt and professional service...tip sent!)
A challenge in bitcointalk back in early April of 2015. I promptly spent all of it on Neucoin's ICO hahaha.
I guess I can say getting into BTC at 200.00 USD was right too as I hadn't even heard of it till well after Mt. Gox. Yeah...I've gained and lost millions since then...on paper.
On another note, I'm willing to accept that DOGE is on it's way back down and I'm prepared to go into a months long margin short on it with Poloniex. I'm curious as to whether you have any knowledge on how expensive lending can get with DOGE.
Thanks for sharing your "ideas" ...love this format you're using. Following.