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UNLEASH THE FURY!


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March 19, 2018, 06:36:48 PM

maybe btc is different, but pumps like this are typical for bear markets.
bull usually does not involve 20-30% day gains (apart from blowoff tops).
we shall see.

I hate to say it, but you are probably right.

Still... you DO see bigass candles on bigass volume when markets TURN.

Is that happening?  Million dollar (1btc?) question.

Not to be Debbie Downer, but do you remember in summer of 2014 when:

1. Price was held steady sideways @ $420/btc for nearly 2-1/2 months. Almost the whole summer. This felt like forever.

2. Price then pumped with bull flags to ~$650/btc. or so. Many said this was the sign that the downturn and sideways was over.

3. Price crashed again in 2015 to ~$200/btc. .... nearly 7 months later!

That's why I've never trusted this market. Once whales have control of the float, they can peg it wherever they want for whatever length of time they wish.

Oh, I remember.

And I think that scenario is somewhat LESS likely than the one I posited.  But I think the original scenario is most likely.  We are still in a bear, but hopefully not one that needs to last years.

That said, I do still see a lot of reasons to hope.  Fundamentals are WAY different now than they were in 2014.  In 2014 Bitcoin was magical internet money.  Today it is *nearly* a household word.  Free(ish) nations are inching towards giving it room to grow as opposed to regulating it to death (we still have a lot to see here... and the next two days will be interesting)  At the same time the scourge of "ICO"s is under scrutiny, which I consider to be good.  Roguish and authoritarian states are either mining or creating cryptos.  Mixed, but goodish.  Layer 2 is in!  It's like the birth of the web.  The internet had been around for years.  Then suddenly there were all these pages with this guy on them:


And that's where we are.  The real use cases are coming.

There are a lot of really smart people in the world.  And they are the ones who have the money.  Some don't like this fact, but it is what it is.

They are going to figure out what we have known for years.

Soon.™