Is Bitcoin Getting Back its MOJO?
After Weeks of FUD, I do Believe the Sentiment Has Changed to the Positive.
JP Morgan and the Chinese Government Sure Ravaged Us but We Are Fighting Back.
I admit that I was a little shaken up by all the FUD. Our net worth took a huge hit as did many of my fellow Crypto fans. It does not feel good waking up, swiping your Blockfolio and seeing everything you own in the red. The shorters sure had their way with the market.
Now I Wait for the Short Squeeze.
Those who are short Bitcoin will now begin to unwind their positions. The FUD is fading and the FOMO will kick in. I am preparing my longs and hoping for a profitable coming week. We could see Bitcoin blast back to $5k in short order. This is what I am betting on.
Happy Trading!
You might be right about the short-squeeze. On Monday, just after the first rally up to $3800, a lot of shorts were taken on Bitfinex. I think some of those shorts were squeezed during the second rally to $3900 on Monday night.
This evening will be telling. As the Koreans and Japanese wake up we could start seeing some fireworks.
Yep. We're already within $25 of $4200. If this really continues towards the end of the week, I wouldn't be surprised if we see some more professional FUD from China. The PBoC has timed every one of their "statements" on cryptos during a rally!!
Shorting Bitcoin, even more dangerous job than working for Hillary at the DNC and having dirt on her... hahah
True Story!
Hahah, indeed, many a trader has been badly burned, including yours truly back when I was stupid enough to do it. regards!
Speaking of Blockfolio, what does your gut tell you about that app? A useful tool for hodlers or a CIA sponsored trap to tax us blind?
Thanks Sabbir24!
JP Morgan and the Chinese and probably the US Gooberment are all scared of losing control. They can all eat a dick. Bitcoin ain't goin NOWHERE!
Dear Fiat Currency...
The mojo is back!! I guess bitcoin and all cryptocurrency will close the year on a very positive note
Hopefully it will take the rest with it . Cheers
I posted this elsewhere, but I will say it here too. The swings in price are exciting, but they are not for the faint of heart. Until the price can stabilize I don't see a large portion of the population getting involved. I have heard this from people I have encouraged, they are just not interested in seeing an investment lose 40% over a couple of days even if it comes back and goes up the same amount. The most common investor likes stability or perceived stability. I would like to add, that if this theory of mine is true, then all this talk of a bubble is definitely wrong, bubbles will take everyone in, not just those inclined to endure risk.
I don't believe in the bubble theory and in no way are we at the point of huge adoption. My guess is a few more years, but I am not waiting for the taxi driver to care. I am all in!
Yup. This exactly.
I think adoption is currently taking place with TenX/Monaco cards and also OmiseGo. They all had huge % increases. This is the beginning people :)
you said it :)
Yup, I believe this is the beginning of the return!
its just the normal fluctuation.. to many new stuff are going on to predict a trend--but still great to see thats its stable around 4000 dollars.
I just read that another hard fork is coming in October for bitcoin so this might just be a short lived spike but I could be wrong!
we will surely see bitcoin on the moon this time.
