Path

Autistic Pattern Recognition

BITTREX:LTCBTC   Litecoin / Bitcoin
3203 views
19
Do you remember when this exact same thing happened before?
Bar pattern is LTCBTC weekly from BTC-e in 2013, chart is recent Bittrex price action.
Immediately after this happened the first time, the new money-doublers (who make sure to tell all their friends about litecoin gainz) went to barely functioning Cryptsy and lost everything to Wolong trading a picture of a dog. Maybe the farce has come before the tragedy in crypto.
Over the next few weeks, millions of attention-drained victims of late capitalism will flood out of coinbase to bittrex, poloniex, binance et al. and market buy anything green. They will stare at their portable Mammon devices while ignoring loved ones. Families will argue about cryptocurrency over Christmas dinner. As the dopamine wears off, they realize they've lost hundreds of hours in time and wages to a technology they are not capable of understanding. Regulatory commissions will blockade most fiat on-ramps citing extreme risk, and the new entrants will lose 90%+ to the bear market. When they give up in 2019, I will post another LTC chart for the halving.

(Original chart idea doesn't publish properly so I improvised with the bar pattern tool)