Time to Pitchfork - BTC is back down
I took a quick gander on the twittersphere and panic seems to have taken root. Comment after comment of people calling for the end, FUDERS as we call them are not holding back. I often wonder how many of those are actual whales trying to buy altcoins for the cheap.
Before you think I'm losing it, let me clarify my position on this. I don't actually believe in the Bogdanoff conspiracy, they are just some weird twins who have a "unique" look to them making the memes that much funnier. However, I don't for a second believe markets are not manipulated.
There has been time and time again proof of big holders wash trading on big exchanges to simulate volume and attract overly enthused buyers, only to break their ankles. Honestly, we can't rule out even the ones we call "respectable". Let's not forget the launch of Bitcoin Cash and the inside trading that happened on Coinbase a few months ago.
So today, I'm using a friends laptop, looking at the markets with skepticism. I'm on a trip with very limited connectivity, but its one of those days I can't but to be glued to a screen. As many do in days like today, I'm searching for answers. What's catalyzing the dump? Who is selling? What are the volumes looking like? etc etc.
I can't seem to find something to point at, not really. As a matter of fact the more I dig I'm finding reasons for crypto to start its bull run as soon as possible. I just found a very interesting article regarding Mt Gox. In the article it basically states the horrible, giant, scary, gruesome cloud hovering over Bitcoin has been taken care of. The sell-off sort of speak, is done.
This is great news, actually fantastic news. This means that those customers of the now defunct exchange will not only get back some of their holdings, but more importantly the trustee won't be dumping BTC in the millions on bear days as he has done in the past for some reason.
This signals to me, that money should be jumping in today. New money should be showing up in exchanges in the next few days, and hopefully I'm right about this. Obviously, I'm not a wizard or a prophet. I'm simply using logic and common sense to form my opinion.
I guess, this weekend will be crucial to the whole thing. We always seem to run red weekends, so I for one will be keeping a close eye on the big exchanges. If the order books fluff up, then I know I was probably correct, if nothing happens, then I'm going to buy some chocolate ice cream and endure this bear market some more.
What's your opinion on the slump today? Who do we blame? (Let's pitchfork a bit)
Gosh! I wish I had some extra funds right now to buy in!
you and me both brother
Same here. It's a bit of a mystery, isn't it?
ALSO: Not trying to link spam here, but I featured your article in my Dlive stream this morning, if you're interested:
https://steemit.com/dlive/@kafkanarchy84/c0f99b76-7673-11e8-a21c-0242ac110002
feel free to spam my posts brother, I may not be the best commenter (i need to work on that) but I've been watching your videos regarding the libertarian 2020 candidate and finding myself agreeing with your position 100%
I am quite confused by it all! Things happen for illogical reasons! But then those who know how to play with emotions will control the game. The vibes are very discouraging as people are full of fear and uncertainty.
Chocolates and ice cream are very soothing! I feel the turning point is close, astrologically speaking!
Those who have the biggest muscles dominate the stage at the moment!!
It's so interesting. There must be so much shenanigans going on in the crypto market by the rich and powerful. Their whole world is at stake. Everything is on the line. No one who's really in crypto is going to leave. It only makes sense that it will grow and grow. I'm not scared one bit. I don't have much money on the line like a lot of people do. I don't live off crypto. I'm holding for the long run. I feel like most people are. We just have to get through these shenanigans. We have to know that of course they're going to do this. But there will be a point when everything just steadily starts to take off. And maybe this will be it. If it's not this week it will certainly be in the next six months or a year at the very most. How do I know? Cause you just can't hold this back. It would be impossible. Too many brilliant minds working on it. Too many possibilities. And it's already too far underway.
Bitcoin is inevitably going to go. Feels like now would be the time. It's useless. This will be a massive progression for crypto when bitcoin loses dominance. It will mean that people actually understand crypto and are ready to use it and bring it into our everyday lives.
I happen to be undecided on the the whole BTC will die one day. Reason being I think its more likely to evolve and become better.
Name recognition is important, most people don't know a lick about cryptocurrencies but they've heard about Bitcoin and that has intrinsic value.
One of the things we need to move past however is this whole reverence of white papers. The regressive idea of "no we can't do that, the white paper says" could be the main reason why projects won't make it, when its time to weed out the weak ones.
White papers are not constitutions and even those have amendments.
So, I will half way agree with you. BTC as it stands today is not ready to go mainstream, but this does not mean BTC won't adapt either.
There's a possibility of that. I've always had a feeling Bitcoin will be a relic. Call it women's intuition. It seems to me that in the quickly evolving world of technology the first token will be quickly surpassed. It seems to me it served as an example but to me it's probable that another coin or many coins will be the ones that actually get used. But that is not based on research. Just based on being in the culture for a little while and intuition and a gut feeling I have I guess.
If i had 10k dollars id buy now and be driving a lambo by 2020.😇
Well, I'm with you on that sentiment! ha!
Nows the time to buy. No one likes a pussy. Nut up people - this is the game we play. Fortune favors the bold!
So glad I've stumbled across your work meno - always some good perspective. That dude in the photo looks like a real life character from The Mask..... Both the Jim Carrey movie and that similarly titled one with Eric Stoltz and Cher.
All the best dude.
E.
Oh man, if you wanna laugh a bit look up the "pamp it" videos on youtube. You will get a kick out of it...
Lol thanks for that - grade a giggles
I have a rather odd perspective on both Bitcoin and Steemit. You see, I am an astrologer. Oh, I don't mind if you roll your eyes. I'd have done the same thing for most of my adult life. Don't blame you at all. However, it is a strange Cosmos, is it not? One made of energy, and Spirit. I've come to read "signs" as if reading a book. I can tell you this for both Bitcoin and Steemit: the next few years will be turbulent, with many changes and challenges. Of course anyone could say this, and this prediction certainly requires no crystal ball to see. However, there will be times where profits can be made if timed correctly. It's a truly Dickensonian time for Bitcoin and Steemit.. "It was the best of times. It was the worst of times." Anyway, my advice for those engaged in both of these: hold on to your BVD's or patty hose - whichever applies. Unless one really has an insiders information investment in these two will be rather chancy. Blessings.
Edited remark: Ha! I just read a post by @captainquenta from just moments ago. Apparently he is an astrologer. You may want to take a look at what he has posted. Interesting. Blessings.
Would not dare to roll my eyes... there are many things I was not designed to understand, and because of it i tend to be open to the possibilities.
Im on my way to read...
thanks for pointing that user out
Well, I wish I had been issued a magic wand with my astrological charts. If I had one I'd wave it over Bitcoin and Steemit... and of course both our heads. In the meantime we do the best we can. Blessings.
Feels discouraging to gave one third of what I had two months ago after all the hard work, but not panicking lol
time to post my friend, time to post!! collect that steem power
All I can do now is wait...
wait and trust
and do my part
I can't even read what you wrote after seeing that picture... looks like he saves endangered species barehanded as a hobby and teaches dance on Tuedays.
Thanks for the QUICK RUNDOWN.
we need a pitchfork bot... thats the way we moon! ;)