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RE: As goes BTC, so goes the market.

in #bitcoin6 years ago

Bitcoin turns bearish first, and then the rest follow in the downtrend.

Agree!
Not much happening recently except few ICO’s being pumped up and then dumped. I see it as remaining two stages of the next bull market. People getting frustrated by lack of volatility, bu lack of volume trying to buy ICO’s at the top, than selling it for a loss and than coming back to bitcoin and than getting frustrated again. Their frustration is natural, we are humans. My expectation for the “final” move before we finally get to a new bull run is to shake up most of the weak hands. I really do believe we will drop lower. Everyone will talk about bitcoin’s end, most people will not expect it, most people will sell at the bottom for a loss. If I’m wrong I’m happy, because I’m happy with my portfolio. If I’m right, I won’t sell anyway, because I’m a long therm investor and I 100% believe in bitcoin and other cryptos. That’s when we usually know the bottom is finally in. I don’t know how much lower we could go, but if and when we do I’m ready. I’m ready to buy more. My believe in bitcoin, EOS, ETH, BTS...much stronger than sell button. I know my words sound harsh, but any market with investing is not your friend. It’s trying to rip you off your hard deserved money. The only weapon against them is to buy dips and be patient. Remember, patience always pays off. This saying is not quoted for nothing, it has a history, it always works. Especially in bitcoin.

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That's right. Things are very quiet. That's a good sign for long term bulls (focusing in on the prices where this is happening, which are much higher than the last time we saw similar levels of disinterest), but I agree 100%, we could easily see a sell-off climax before the bull trends resumes. I'd give it a 50/50 coin flip at this point.