that is why buying a little every week works so well , I would not be buying a large amount here either, My average cost is under 10K so I am willing to hold through any pullback, and would start buying again on a pullback
In bull markets surprises come to the upside.
Much of your ānot liking it moving to fastā thesis is likely from seeing what happened three years back.
Right now we have institutional participation and sentiment is not overly bullish
In fact I would say your very not liking it at this level is a bullish sign in itself.
With more established markets I would agree with you - but I think the risk in bitcoin right now is not being in the move at all.
Should we break 20k it really could be Katy bar the door for higher prices.
Just as an aside, longer term bitcoin tops have occurred when itās stretched 2.4 times above itās 200 day sma.
Right now itās around 1.65 so still potentially got alot of room to move yet.
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I think Dennis has already touched on this but thought iād share this chart for someone who believes Bitcoin is way past value. LTC seems to have found a comfortable support and is looking to explore liquidity on the upside. There could a potential opportunity here. This is a monthly chart. Look at daily to find your entry. All the best!
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Here we go again , up $900 on the day
Bitcoin is not the only one on a run, Ethereum and Litecoin are on the move too
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Makes sense. 
Im referring to sentiment.
Bull markets climb a wall of worry, bear markets slide down a slippery slope of hope.
As humans we canāt help get fearful or greedy, and usually we do it at exactly the wrong time.
As of yet the bitcoin threads on here are fairly subdued - when we get lots of threads talking about how to scalp bitcoin, the top (temporary) will likely be in.
Iāve posted a few comments on bitcoin the past week and so far only had two respondents, you and @Dennis3450 - bull market still intact me thinks!!
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Hi John, been long since mid 13K and itās been a thumper. I took profits election weekend but then opened at market on Monday open. Itās a rocketship at the moment.
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If you had told me back in 2017 that I would now be a confirmed bitcoin bull I would have laughed.
Back then I saw a bubble - no matter where I went I kept hearing bitcoin this bitcoin that.
What put me off back then was the sheer number of complete amateurs in it, who had never even bought a stock or traded anything in their lives.
I was happy when bitcoin crashed, not because I wanted to see people lose money - but because if bitcoin had kept going after hitting 20K it would have made me have to reassess my whole theory of why markets work the way the do.
Fast forward today and itās all different - there appear to be many fundamental reasons why bitcoin could go much higher.
There is so much institutional money flowing into it, it cannot be ignored.
On this forum so many threads on which markets to trade and trading systems
But the real big money is made trading a market with great fundamentals. Bitcoin not only has superior fundamentals but for price action trading itās a wet dream.
In trading we need to continously adapt to change and focusing solely on the usual fx pairs when the fire works are going off elsewhere is one helluva large opportunity cost.
As a side note, Iām also a gold trader, but letās face it gold just cannot keep up with btc. I wouldnāt be surprised if many of the gold flows are starting to flow to bitcoin.
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Hi John, your thoughts resonate with me and although I have been monitoring Bitcoin over the years I only added Bitcoin to my watch list recently. And even more recent started trading it but i guess i got a lucky start.
I agree about the price action on Bitcoin. Itās an absolute dream to trade.
What got me about the Bitcoin crash was how everyone kept holding on to their loosing positions without a plan in place. If they would have just traded, similar to this thread, they would be sitting on a fortune.
However, I donāt hold Bitcoin, I only trade it via CFDās. I am here to make a quick of it while it agrees with me, and when it doesnāt, leave it to the others.
I am looking at this massive cup and handle pattern on Bitcoin and if it plays out the way I think, the races have only begun.
Full disclaimer though, I will be counting my chickens at $19K. Will re-enter at the next impulse, whenever that may be.
I think the Hodl crowd are fanatics on crypto and see this as the only opportunity to āget richā.
Mostly made up of amateurs - which is fine.
For me as yourself itās about market timing, the down moves are just too much to be a buy and holder IMO
I too trade via CFDs.
I donāt really get the whole wallet thing and while crypto exchanges are getting better with security I donāt want a Mount Gox like incident happening to me.
Plus I generally lose passwords and log ins anyway - Iād go beserk if I lost my private encryption key and therefore my total money.
Im a trader at heart, and while I think bitcoin is the most amazing trading market, Iām not a zealot and know there are other markets - all available with CFDs.
Actually Iāve just added to my position around 18K, yep I know thatās right under āresistanceā but my system gave a signal - regardless of the potential for a pullback.
Im a pretty nimble trader anyway and if its wrong Iāll be out in a minute.
What I will say is in strong bull markets the surprises are to the upside - leaving those who have missed the move panicking - and ultimately buying at the top
It will be interesting to see how this all pans out - I read recently that this whole move was because of paypal buying up for their new crypto service.
For strong bull markets we need large catalysts and I think this is good one
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Here is something to think about, there will only be a total of 21 million Bitcoin, If just 100 million people ( 1.2% of the world population) own Bitcoin that would just be 0.21 Bitcoins per person. Does anyone believe only 1.2% of the world population will want to own some Bitcoin.
Or how about this
There are something like 48 million millionaires in the world and we all know how millionaires love their status symbols, what if owning at least 1 whole Bitcoin became the new Rolex watch or Lamborghini to these millionaires. If even half of the millionaires all tried to own one bitcoin there would not be enough to go around and the price would be in the 6 figures
I have my one bitcoin do you
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Your thesis is not necessarily wrong but I donāt think bitcoin will ever be adopted by the masses.
Most will be priced out.
Maybe 1.2% will take it up as you say.
I also donāt think it will ever be a currency - only by the true believers that is.
Itās adoption will be as a financial asset, bought by corporate treasurerās, and large funds.
Kind of like US T bonds are now.
But your dead right - the limited supply is a major plus.
To be honest I think it is going to hit the precious metals hard, especially silver
Silver investors are in it for the major upside not so much for portfolio insurance, but if bitcoin has such a limited supply then would be silver traders will move to bitcoin instead IMO
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The money I have had sitting in gold and silver for the last 5 years had I just split that money 3 ways and taken an equal position in Bitcoin. The past is the past, but I still have a chance to fund a big portion of my retirement if Bitcoin does as you said and is bought by large fund managers. What ever happens it has been a fun ride
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The price predictions on btc are stunning. Almost too stunning - while I hope those prices are achieved Iām taking them with a pinch of salt.
Im not a fan of any price targets because itās easy for the mind to get anchored to that and you can lose all objectivity.
Infact I want to know of the reasons why bitcoin aināt going to get there.
A part of me still thinks the regulators will put and end to it - so Iām keeping one eye on that side of things
Only time will tell - and what happens above 20k will answer a lot of questions
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looks like today will be the first loss in a week, we are still on course to our 7th up week in a row
This is just the market timers cashing in on short-term gains then the short sells will come in which will lead to a short squeeze leading to the next move higher
all is good in Bitcoin land
with still 6 hours of trading left before todayās candle closes could we see a complete reversal of this down move. Buyers clearly are coming in on any dip
Rise up Bitcoin!
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