Is the crypto massacre over? Light at the end of the tunnel!! A not so detailed interpretation.

in #cryptocurrency7 years ago (edited)

Congratulations you survived the carnage left behind from the cryptocurrency massacre!!

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"So what's going to happen now?" I hear you say.

Allow me to give you my interpretation of what went on and what we can do to hopefully never experience another two "RED" days like we just saw.

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So first up allow me to give you my background in cryptocurrency trading and analysis. I have over 8 hours of experience in looking at "coinmarket cap". I know the names of at least 10 different cryptocurrencys. I know what a wave is and I have used triangles.

So this is my first observation:

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A lot of get rich quick investors freaked out!! There we go quick, simple and easy to understand.

Second observation:

Apparently there were a lot of different types of waves going on, some big, some little.

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(this is a big wave)

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(not so big wave)

Now although they look different its clear to all that they are both made of water. #interestingfact

Observation number 3:

Everyone loves a triangle and I'm no different. I have a soft spot for an equilateral triangle

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But my favourite I think is the isosceles.

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There were a lot of triangles going on and they were all pointing in different directions.

So what can we conclude from these observations and how can we prevent this happening again?

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If you just keep saying the words "wave" and "triangle" you kinda sound like you know what you're talking about and people listen. The truth is NO-ONE knows exactly what's going on. If they did they would be so rich they could just give us all money rather than telling us how to waste it. What I will add though is, I hope this is the bottom of the "correction/crash" and that you've got to go through the bad times in order to appreciate the good times. In a bull-market every decision is a great one!!

Have we come to the end? Can we see light at the end of the tunnel or is that just a....... Look out get off the tracks!!!

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Disclaimer: not actual advice. Tongue in cheek view of the crypto space. For entertainment purposes only.

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It's a good week for bargains!

Can I get an amen... The fist and probably most important bit of advice I got was to "buy the dips"

Oh I do love a nice triangle too! Great analysis. Made as much sense as all the other pros out there 😀

If past patterns hold true we are not out of the woods quite yet and could see another dip to ~8k on Jan 24-25. Every year for the past 4 years BTC has crashed 25-35% exactly 23-24 days prior to the Chinese New Year, which again this year puts the potential dip on Jan 24-25 so we might see another "correction" before truly moving back up towards record highs around March/April (and 40k around August).

Coincidence??? Multi-Year Bitcoin Crash Pattern... Like Clockwork BTC Has Crashed 25-35% For 4 Years In A Row Starting 23-24 Days Before Chinese New Year
https://steemit.com/cryptocurrency/@budz82/coincidence-multi-year-bitcoin-crash-pattern-like-clockwork-btc-has-crashed-25-35-for-4-years-in-a-row-23-24-days-before-chinese

Doh. I should have read the comments before I posted. I just rehashed the same pattern.

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🤣 dammit welshy

Give me a board, I'm ready to surf! cheee-hooo! \m/

The sad part about Bitconnect scam is that people will think this was a cryptocurrencies problem and not a Ponzi scheme as usual.

Lol brilliant I loved the fun made of some so called experts

Would I do that???..... Hahahahahaejin

Of course you would

Oops sorry dang autocorrect I meant of course you wouldn’t

😎👍😎

we will see what happens.. crypto is like lottery sometimes you win.. und sometimes you dont. ;) no risk.. no fun.

Some good points here, enjoyable read.