JayJuanGee
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How much alt coin diversification is needed? 0%?


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September 13, 2017, 12:13:46 PM

Completely WRONG! Bitcoin price is driven not by technicals but by fundamentals!
To trade bitcoin using TA during fundamental uptrend is totally unprofessional!

Completely wrong.

Where were you during the backside of the last big "China" spike in 2013 when it peaked out at $1200 ?

It had every bullish fundamental going for it - from Overstock adoption to new exchanges, to worldwide media attention to new associated fintech innovations, not to mention a ton of new wallet developers arriving on the scene.

All of that was NADA compared to the technical correction that ensued. Once the bear market kicks in, no amount of fundamentals can prevent it from running its course. A long term bearish crossover to a trader is a tidal reversal that no ship overcomes. During a major bullrun all "fundamentals" for at least the next 12 months get priced in anyway. It's when they arrive for real that the profit take starts.



It seems to be way too early to call a bear market, merely because we are experiencing a 20% plus correction.... within less than 2 weeks of the most recent ATH...   

In the end, you could be correct, that we are transitioning into a bear market,   but it is way too fucking early to smug about any such assertion based on our current circumstance, and whether confidence has been shaken or bears have taken control based on lilie bitsie exaggerated fud-train in recent days.