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RE: Bitcoin Market Update: Price Spike Incoming?

in #cryptocurrencies • 6 years ago

I'm watching the shorts, I'm wathcing the Stoch, the MAs, the Bollinger bands and above all, I'm watching that triangle taper to a point. More importantly, I'm listening to the news and remembering all that has happened this year so far.
Everything confirms what you are saying, and while it doesn't look quite ready yet, something big can happen at any time now. Perhaps it will be a big jump, perhaps it will be a slow uptake. As I said in my post of yesterday, there are already indications that the market is now bullish in some sectors. Just a matter of time now...

6 years ago in #cryptocurrencies by
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     6 years ago 

    Thanks for your input @bitbrain, do you pay much attention to the stock market? It seems to me that there could be some correlation between Bitcoin and stocks. Bitcoin is a risky asset so it might end up being the first asset being dropped in case stocks start really tanking.

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     6 years ago 

    I pay some attention to it, not much. I have been trading stocks much longer than I have been trading crypto, but with far less interest and far less expectation of long-term ROI.

    I wrote this about crypto vs The Dow some time ago, I find the dwindling correlation interesting: https://steemit.com/cryptocurrency/@bitbrain/a-troubled-relationship-crypto-divorces-dow

    I think that BTC is a "risky" asset in general (becoming less risky all the time), but one which is divorced from the market, thereby making it a safe haven in times of trouble. I believe BTC (and other crypto) should do well when other markets tank. What's more, I can point to examples where this already happened. Argentina - happening now, Turkey - a few months back, Venezuela - ongoing, Zimbabwe...

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     6 years ago 

    Very good points @bitbrain, thanks for your input :)

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