/biz/ - Business & Finance

>>7743783
look at the volume dumbfuck

>>7743783
maybe because past performance does not affect future outcome you stupid fucking idiot

>>7743783
No one with an working brain and some sense of traiding would suggest that bitcoin is gonna reach 20k again in the next months.
It has to go down first either way. Dont get me wrong people, I wanna be rich but you have to be fucking realistic and not act like this is some sort of tv drama.

>>7743783
somebody forgot crypto isn't a meme anymore

>>7743824
BTC will be past 20k in about 2 weeks

screencap this mouthbreather

>>7743811

a lot of people were buying and selling before and now money has left the market and less people are trading... IT WILL SURELY MOON AGAIN...

fucking kys

>>7743811
you really don’t think trading bots and algorithms recognize and act upon past patterns? holy shit retard alert

>>7743783
Zoom out

>>7743804
I looked, what should I be seeing? You actually think it’s going to just continue to go straight up? Holy fuck.

You see how steep that pump was when btc hit 1k? It happened over 1/2 a month. The resent bubble happened gradually over close to 3 months. Very big difference.

>>7743886
hey retard, there's a whole meta layer to this and everyone is already acting around the fact that people will TRY to predict the future with past performance, and they will make sure to liquify the shorts of anyone stupid enough to try since they are going to be that predictable

you fucking idiot. You are not smart. You think its really that easy? Go set your short. You will be murdered. BTC will be 350k EOY

>>7743783
Shut the fuck up Mike. I fucked your mom. Fucking corecuck

>>7743804

>>7743811
True. But sometimes these things become a self fulfilling prophecy anon

>>7743783
It's not.
>Coins with no development for years are increasing by double digits.
>Coins with no whitepaper are increasing by double digits.
>Coins with partnerships, whitepapers, roadmaps are stagnating
The bubble will burst and basically you're all fucking stupid.

>>7743958
k3k rekt.

You're right, it's like prediction inception, bots are as smart as humans make them to be and humans ain't that smart.

>>7743992
Market volume, not transactions. You're a completely stupid.

>>7744099

>>7743783
didn't MtGox happen back then ? Literally the biggest exchange at the time (70% of the trades or something) got hacked and went bankrupt. Not going to happen again unless bitfinex, bithumb, GDAX get shut down all at once

>>7744115
we're here

>>7743905
I wanna know whose pockets this money is coming from. It's gotta be the Rothchild's.

>>7743783
Who cares it's literally free money

>>7744197

The writing was on the wall all along.

>>7744197
millions and millions of people. you are stupid

Nothing is different. Anyone who thinks it is is delusional. History repeats itself.

>>7744137
See, I put the 5th wave at ~3500 which would be about 15% of the ATH. I don't think it will necessarily tank as hard as last time (174/1136) a 15% of its ATH but every single time it fails to reach a new high after two pumps it follows that bowl pattern. You can check back in 2011 and 2012 when it did this. My actual guess is around ~5000 before it begins climbing to a new ATH probably 5-20x of $20000.

>>7744115
ever thought maybe people stopped searching for it because they now know what it is you tard

>>7743905
the volume is insane, it's not longer normies investing, big players got in after shaking weak hands
if you think this ever goes down below 10k again you are delluded

>>7744241
Prove it.

>>7744244
This. It's BITCONNNNEEEEEEEEEE on another scale, people realize it's not sustainable, but they bullshit trying to make each other believe it is, while telling themselves they'll be able to jump off before the crash.The only problem is that most people shill so much that they end up convincing themselves that what they're saying is true, lol. Get rekt foghats, I'll be buying your gpus on the cheap.

>>7744271
Whatever you need to tell yourself.

>>7744286
"if you think this ever goes down below 100 again you are delluded" t. 2012 hodler.

>>7744448
>MtGox will happen again
come on man

SHORTED THE 10K BATTLE

I GET LIQUIDATED AT 12.5K

IM BLEEDING BUT YOU SHALL NOT PASS

>>7744471
This was before MtGox, MtGox was that peak in that picture. BTC follows the same cup and handle each time. We will reach new highs but it's not going to be in the next few months.

if you think it's going to dip, think like a pro and use the tools available to you to HEDGE.

that's what shorts and taking profit is for.
on the move down I literally put everything I had in my portfolio in. My crypto portfolio no longer contained any fiat currency. I got in a bit too early, but still at a good spot. The strength of this move and the upcoming resistance combined with the ridiculous positive sentiment of "it's never going back below 10k" tells me that people have a short memory and that we are approaching risky territory especially as we are approaching the overall downtrend line of the first two peaks of the downtrend. as such I will be decreasing my exposure to the market and taking profit from my buys on the way down in order to HEDGE. I am super bullish on crypto long term but we are approaching a key point and the move has been too big and too fast and has convinced too many people. So I will take 1/3rd of my money out, get rid of my smaller and shitier shitcoin positions and consolidate a bit, perhaps take a small short as momentum slows to further profit from my hedge.

ultimately what solidified the decision for me, is that I actually decided to transfer some of the profit I took and moved into my bank account back to my exchange. after clicking the button, I suddenly realized that every time I started to let the market movements sway me, I got burned, and so does the vast majority of people.

for all of you saying there is no way it will dip below 10k, and those of you saying it will "never touch 6k again" try to remember what people where saying when we hit 15k and higher. I remember people saying we would never see btc below 5 digits when we starting gaining distance from 10k, and look what happened. will we crash to 3k 4k, or 5k like people are saying? probably not, but things are getting precarious for the time being. if you are 100% in favor of one extreme case, you are wrong

>>7744531
you ARE ON WRONG SIDE OF HISTORY
BUT I HONOR AND RESPECT YOUR FIGHT!

>>7745023
Well I've my hodl stack so I'll be fine
But this was my day trading account. It was meant to dip back to 8K and languish around there for a week or two before normie booster rockets engaged.

>>7745068
NICE grip of steel
WHY SHORT the brother????
why not commit to the replacement of fiat?

>>7743783
100k eoy

>>7744197
BTC whales longing with leverage to drive the price further and further up until people start to fomo and buy in. Then they short it all the way down.
This pump was not caused by fiat entering the market.

>>7745283
cause the hodl stack I exit in a few years.
I wanna make money now so that's why I trade the swings. and its fun and usually free money. I think the normies are affecting the price too much.

>>7743811
when an entire market is controlled by MM it does you fucking freak
learn what price action is

>>7744271
>people only learned about bitcoin in december 2017
>not the past decade it's been here
>these fucking mental gymnastics

>>7746207
no point arguing with them, they still think BTC is entirely driven by normies running to the bitcoin store after watching an episode of Ellen

>>7746276
Would you fuck ellen?
If she wore a long hair wig I would.
Shes got model like features I think and a face good for TV.
Why do you think people look up to her?
I think it's because they can't see how scripted her shitty joke are so they think she's smart. I believe women look up to her because she kinda looks like a dude too with that dyke hair cut. Queers and lefties look up to her for obvious reasons.

>>7746110
respectfully asking, I am a fellow Shhh, but why is this a 'pump.'
I said this before, if my customers want to pay me in BTC (or ETC or whatever)

shhh

>>7744602
What're your targets? Are you pulling out now or holding a little longer? My plan's to hold until we hit the upper trendline (~$11.6k) and see how much resistance we encounter. If we break through upwards, my next target's at $12k since those are the full potential of the inverse H&S and bull flag from this past week, I feel like a bump and run could be developing though.

Exciting times anons

>>7745284
>TA is fine when it tells me what I want to hear

>>7744115
nice buysignal

>>7746621
I'd say between 11.5k and 12.4k is an area of maximum risk playing upside.
one of the tricky things is that calling too specific of a target is flat stupid, but so is leaving the range too wide. that range is with the major downtrend line at about 12k in mind.
the difficulty comes in the fact that the low 12s have abnormally low volume at that price, meaning that if not much many people are buying/selling then price moves quickly. so we could break twelve very convincingly and run into a wall at about 12,3 or 12,4 as volume steps in.

I'm looking to pull out 1/3rd of my crypto into fiat at a maximum of about 12k, and watch, if we break above 12.4k and hold, I'll take the loss and buy back in a little, and wait to see what happens around 13k.
if we don't break above 12.4k I'll likely open a short with no more than 1/3rd of the fiat I took out, to increase my hedge. Aim to close half of the position at 10k, let the other half ride and close if we bounce up, but leave it open if we break below 9.5k with target close around 8.5k

>>7745068
you should only short once when we hit a peak like 20k. stop trying to short resistances and such you arent good enough and the volatility of btc will suddenly kill you.

>>7744602

Most sensible thing I've read on here in a while.

>>7743804
>>7743811
>>7743858
THE DELUSION IS SO REAL TOP KEK RDY TO GET JUSTD

>>7748533
>t. sold at 6k

>>7743783
because you're blind

>>7748692
oh shit

>>7743811
>let me apply gambling rules to market
lmao retard

>>7746207
excellent example of the dunning kruger effect right here.

>he remains assblasted because he sold the bottom and did not anticipate that The United States Federal Government Would Save Cryptocurrency

>>7743783
>the market is purely reliant on fractals of past trends

>>7749324
>but past fractals are perfectly fine to predict that bitcoin will reach 1 million per coin because it went up x1000 in the past

>>7743992
It gets really interesting when you include a few more.

>>7749566
>the number of transactions is now equal to january 2016
huh. interesting

>>7749605
yeah the whole "ethereum having a massive amount of transactions and usage due to its meteoric rise" has nothing to do with that i'm sure

>>7749671
And? how is that good for bitcoin cuck? if anything it ethereum is on track to replace bitcoin.

>>7749734
uh duh? BTC is the ultimate shitcoin, i traded out of the position entirely

>>7749605
Here's just BTC from 2012. Take from it what you will.
My point posting with more was to show that all coins are going down in TX count, which isn't good for crypto overall.

>>7749848
forgot pic

>>7749848
>people putting coins into storage and leaving them is bad versus them trading constantly between exchanges
hmmmmmmmmmmmmmmmm

>>7749882
By that logic the best case scenario in your estimation is 0 transactions?

>>7750003
transactions dropping after periods of high fiat volume are a good sign

transaction volume is meaningless during periods of volatility

>>7743811
Imagine that human behavior could be turned into mathematical formulas and algorithms. If we took thousands or millions of humans we'd expect the mathematical formulas to be accurate 99.9% of the time. Since humans haven't changed or evolved throughout recorded history we could expect to see patterns in historical events involving many people such as wars, crises or famines. And we do. Why? Because human behavior is human, financial markets are an economic expression of society and culture. And when you get thousands of people together the same thing WILL HAPPEN just in different time periods and places. All bubbles look the same and are the same, the difference is the time, place and asset that gets into a bubble but the price chart is so similar that you couldn't tell which asset or time period without a label. Every bubble has the same parabolic move.

http://www.macrotrends.net.fqdns.net/1310/the-four-largest-us-bubbles

>>7750054
Fair enough bud.

>>7744270
lol so you dont know anything about trading, ta or crypto, thanks for clarifying that

>>7750185
You obviously don't know what Chaos theory is.

>>7750325
I'm not trying to make a perfect analogy here, just trying to make a point. And honestly, the fact that some people on /biz/ made money on coins is a good thing, they found something before others did. But anyone claiming coins are going to moon forever is trying to sell at a higher price.

>>7743783
anyone that believes in the illogical ridiculousness of "technical analysis" is a gullible brainless self-less sheep that deserves to lose all their money to the "gurus" of TA, scam artists

Funny how these retarded threads constantly pop up whenever the price corrects AS EXPECTED.

10.2k, then we go to 12k. Screencap this.

>>7743783
Chinese New Year.

>>7748692
Fuuuuuuuu