The chart shows the Bitcoin price and the Tether (USDT) supply, i.e. the number of USDT coins in existence, in blue.
As you can see the supply of Tether was increased by 20% in mid-August 2018. This was to provide liquidity to allow insiders to swap their BTC for USDT for the final exit at 6k. One months later, just days before the massive BTCUSD price spike and...
Just an old idea, no need to hide it now ;)
Idea is that the price of Bitcoin and other mined tokens follows the supply trend.
As you can see the total number is always increasing, but in Bitcoin's case the rate halves every 4 years leading to an overall diminishing trend which should saturate at maximum supply (21 million tokens).
This is one of the reasons...
This is my honest opinion of the Bitcoin market. The points I tried to make here require a lot longer than 20 minutes to really discuss, but they boil down to two major arguments:
Bitcoin does not need a mining industry
Bitcoin does not have any significant consumption-based demand (true demand)
This is important because both of these fundamentals are...
Everyone bullish again. Major nour activity on this one.
It pretty much 5x after what has been very bearish period for LTC in general.
I say it's done. We'll see. I don't care either way.
Close gap to $50.
Officially Bitcoin trading began in July 2010 with MT.GOX, but this was only the first dedicated exchange. Before this however Bitcoin was exchanged for goods as well as money on a peer-to-peer basis. The two transactions I know of where Bitcoins were exchanged for other currencies or commodities (lol) are shown here.
The first ever transaction was famously sent...
A couple of points to consider:
We have retraced the exact same amount as the entire 2014/15 retracement.
The Ichimoku clouds here are repeating the same pattern now as in 2014/15, and you can see we are proportionally the same distance from the top of the larger time frame cloud (red/green) now as then at the 2015 bottom. In addition our position relative to...
Similar setup to Litecoin.
Retested former support at $165 for resistance, now will most likely move to support at around $100.
Good chances of a sideways breakout attempt from here.
Buy support, not tops!
LTC closed the gap to $50 zone confirming resistance. Now back under log down trend and retested for resistance, but look for confirmation on close of daily candle.
$30 support seems reasonable target. Expect sideways breakout attempt here.
// I am not trading this now, just charting. Will look for buy around $30
My trade: active long since $3490
Bitcoin is in up-channel within larger down-channel.
200 daily MA (red line) is forming the upper edge of the down-channel (log downtrend).
Bitcoin has broken above the cloud and successfully retested 100 MA (green line) as anticipated, showing some strength imo. Currently riding the up-channel median.
I expect test of top...