Bitcoin to fall off cliff?

It’s great that you’fre happy with your investments :relaxed:

If you had simply bought $100 of each Bitcoin, Ethereum, and Litecoin at the beginning of each week for all of 2017 you would have invested now $5000 in each currency with profits of

Bitcoin $46,032
Ethereum $79,741
Litecoin $132,050

Trading Bitcoin, when do you get out?

http://www.businessinsider.com/economist-jim-rickards-bitcoin-versus-gold-price-manipulation-2017-12/?IR=T

https://squawker.org/technology/blockchain-just-became-obsolete-the-future-is-hashgraph/

It is like that game show Deal or No Deal, getting out now would be like taking the first offer from the banker with the million dollar case still in play. There will be a time to cash in but this game is still in the first round, Nobody ever took the bankers first offer

On another thread - (Credit to @HyperScalper )

https://forums.babypips.com/t/going-offshore-to-escape-the-cftc/35612/4874

Not strictly relevant - but I thoght it might be of interest

[Edit - the "1 bitcoin at 300 kWH is also enough power to distill around 40 gallons of whiskey @ cask strength :relaxed: ]

Bitcoin has a small down day as Ethereum and Litecoin see new all time highs, and look at that Market Cap over 600 billion, the one Trillion level should be broken before spring

Crypto Market is going nuts as CoinBase adds Bitcoin Cash, nice little bump to my account as I held Bitcoin during the fork that lead to creation of Bitcoin Cash

Good interview with one of the tech guys behind Bitcoin Cash, we have wondered what would unseat Bitcoin as top crypto, Bitcoin Cash could be it

Bitcoin on 6 days losing streak

Well here we are now.

The pin bar on the volume spike could be viewed as a “Blowoff” but it is smaller than the cluster at similar prices on the up-side. The rapid retreat of the pin, seems to indicate either high demand or a lack of supply at the lowest part.

On the other hand the last down bar is quite large but the volume is small, which seems to imply few buyers - Maybe it does, maybe not - It was very close to Xmas and perhaps the “casual punters” were out doing other things ?

We needed this selloff to sake out the get rich in a day crowd, let us long term holders buy at a more reasonable price, and remember just last month the debate was would Bitcoin break $10,000 by years end. Lesson here do not chase the run-ups and buy the dips

To put this pullback ( or crash as some would say) in perspective. Had you bought $100 of Bitcoin, Litecoin, and Ethereum at the beginning of each week in December your $300 investment in each currency would be worth the following

Bitcoin $281 ( -$19 loss)
Ethereum $383 ( $83 gain)
Litecoin $506 ( $206 gain)

Net profit $270

I will take it

Where did everybody go

Let’s be glad this “advisor” does not have the ear of the current president

as Bitcoin and Litecoin consolidate, Ethereum hits new highs,

a year ago today you could have bought Bitcoin for the price of one Ethereum today, Will we see 15 times gain in Ethererum this year. I like the odds

What goes up !

However, When I started this thread, it had still not got to the price it is now.

I feel sad for all those trapped “Longs”, desperately hoping for a recovery. :worried:

Some of those trapped “longs” call themselves HODLers. :grimacing:

I bought at 13k and now it’s almost 8k. :frowning: not too much but I thought I was tricked by bitcoin sharks.

you were ! - But, it’s not THEIR fault. Here is the best chart I have ever seen to simplistically show the mechanics of a “Boom / bust” cycle. The credit for the originator is given on the pictuure and I go it from an article regarding S&P on Zero-Hedge.

Please don’t hate “them” for taking your money, “It’s what they do !” (ANd “they” will only laugh at you anyway :sunglasses: ) - No instead, save this chart and take it away. It could just be the single most important lesson there is to learn out there.