*******
Thanks for reading! Please upvote if you find this useful!
*******
I had my butt handed to me at the beginning of 2018.
I really thought it would keep going up :(
Over the past 2 years, I learned a lot more about trading,
trends, signals, and investment strategy. I currently now
hold more money than I've ever had at one time in my life,
all in Bitcoin , because of this chart, so I think it's safe
to say that it's fairly reliable.
I bought in at around the $5000 mark this year.
If you look at my previous 4 charts (see Related Ideas
below), you'll see in the earliest one of my charts
that I was very early, but was ultimately not wrong.
That is probably because I wasn't doing proper analysis
before making a prediction. It was a stressful year LOL
But, today, my friends are all kicking themselves for not
listening to me. If you had even just 1 bitcoin at 5k, you
would have made over 5 times that in under a year.
I assert that Bitcoin will always go up in value over time
due to HALVING and INSTITUTIONAL INVESTORS.
Back in 2015 when I first got very interested in Bitcoin , I
didn't fully understand how it worked. So I, like most
noobs, went on reddit and youtube to get the basic idea.
There was a wacky guy on reddit posting his YT videos about
"hyperinflation", which was a new concept to me. He was
saying BTC would go to 400k in 10 years or so.
That sounded crazy to me..... but I really still did not
understand Bitcoin or investing. It didn't stop me from
trading, but of course I didn't do so well -- I basically
broke even by the time I got out in early 2018.
The biggest indicator to me was when I read about HUGE
institutional investors getting into the market back in 2018
when BTC hit bottom. At the same time, the U.S. Congress
had decided to treat cryptocurrency as any other tradable
asset and that's about the extent of their regulation. This
told me that you could trade it outside of the U.S. in
places where the govt was a lot more lenient, so of course
there has to be banking institutions capitalizing on this.
While other govts were trying hard to figure out how to
regulate it, the institutions didn't seem to care, they kept
getting big investments, and I soon realized it was because
they knew that if they mined now (2018) while the block
reward is still good and the price of BTC is so low, they
will cash in big time when the price climbs up a year or so
later, especially after the halving. On top of it, mining
equipment has only gotten better -- more powerful chips that
use less electricity than their predecessors.
Watching a month chart like this for the past 2 years,
watching the news and the reactions in the market on smaller
scale charts (like 4hrs, 1hr, or day charts), setting my
chart to a logarithmic scale and simply looking at the
bigger picture, suddenly that guy on reddit claiming it'll
go to $400k in 10 years didn't look so crazy anymore. Just
looking at the trends over a 7 year period was enough to
understand what's happening.
I am not here to give financial advice, this is only my
opinion. But my opinion is that there will be ups and downs,
always, but the bigger picture is ultimately what matters.
To sum up: to me, Bitcoin is a good long-term investment
because of the hyperinflation due to halving and
institutional investors' dependency on it. We'll probably
see BTC hit a ridiculously high price in mid to late 2021 if
things continue to repeat themselves. However, it's great to
pay attention to the popular technical traders' predictions
and take some of your winnings when it hits a new ATH , just
to be safe. There will be another dip, you can buy back in
there and make more profit.
I promise to do more technical analysis when I get better at
it. I have taken a break from day trading to focus on my
company, but if you look at some of my older charts you'll
see I made some decent trades simply by looking for typical
chart patterns and other typical indicators. I can only
speculate that the reason those patterns and indicators work
is because the market is so unregulated that it often falls
naturally into these patterns.
Happy trading!!
Thanks for reading! Please upvote if you find this useful!
*******
I had my butt handed to me at the beginning of 2018.
I really thought it would keep going up :(
Over the past 2 years, I learned a lot more about trading,
trends, signals, and investment strategy. I currently now
hold more money than I've ever had at one time in my life,
all in Bitcoin , because of this chart, so I think it's safe
to say that it's fairly reliable.
I bought in at around the $5000 mark this year.
If you look at my previous 4 charts (see Related Ideas
below), you'll see in the earliest one of my charts
that I was very early, but was ultimately not wrong.
That is probably because I wasn't doing proper analysis
before making a prediction. It was a stressful year LOL
But, today, my friends are all kicking themselves for not
listening to me. If you had even just 1 bitcoin at 5k, you
would have made over 5 times that in under a year.
I assert that Bitcoin will always go up in value over time
due to HALVING and INSTITUTIONAL INVESTORS.
Back in 2015 when I first got very interested in Bitcoin , I
didn't fully understand how it worked. So I, like most
noobs, went on reddit and youtube to get the basic idea.
There was a wacky guy on reddit posting his YT videos about
"hyperinflation", which was a new concept to me. He was
saying BTC would go to 400k in 10 years or so.
That sounded crazy to me..... but I really still did not
understand Bitcoin or investing. It didn't stop me from
trading, but of course I didn't do so well -- I basically
broke even by the time I got out in early 2018.
The biggest indicator to me was when I read about HUGE
institutional investors getting into the market back in 2018
when BTC hit bottom. At the same time, the U.S. Congress
had decided to treat cryptocurrency as any other tradable
asset and that's about the extent of their regulation. This
told me that you could trade it outside of the U.S. in
places where the govt was a lot more lenient, so of course
there has to be banking institutions capitalizing on this.
While other govts were trying hard to figure out how to
regulate it, the institutions didn't seem to care, they kept
getting big investments, and I soon realized it was because
they knew that if they mined now (2018) while the block
reward is still good and the price of BTC is so low, they
will cash in big time when the price climbs up a year or so
later, especially after the halving. On top of it, mining
equipment has only gotten better -- more powerful chips that
use less electricity than their predecessors.
Watching a month chart like this for the past 2 years,
watching the news and the reactions in the market on smaller
scale charts (like 4hrs, 1hr, or day charts), setting my
chart to a logarithmic scale and simply looking at the
bigger picture, suddenly that guy on reddit claiming it'll
go to $400k in 10 years didn't look so crazy anymore. Just
looking at the trends over a 7 year period was enough to
understand what's happening.
I am not here to give financial advice, this is only my
opinion. But my opinion is that there will be ups and downs,
always, but the bigger picture is ultimately what matters.
To sum up: to me, Bitcoin is a good long-term investment
because of the hyperinflation due to halving and
institutional investors' dependency on it. We'll probably
see BTC hit a ridiculously high price in mid to late 2021 if
things continue to repeat themselves. However, it's great to
pay attention to the popular technical traders' predictions
and take some of your winnings when it hits a new ATH , just
to be safe. There will be another dip, you can buy back in
there and make more profit.
I promise to do more technical analysis when I get better at
it. I have taken a break from day trading to focus on my
company, but if you look at some of my older charts you'll
see I made some decent trades simply by looking for typical
chart patterns and other typical indicators. I can only
speculate that the reason those patterns and indicators work
is because the market is so unregulated that it often falls
naturally into these patterns.
Happy trading!!
Related Ideas
Just sayin..
neuromancer
about BTCUSD