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RE: BITCOIN PRICE = $2,842. Will we See $3,000 next week? I say YES. $3 STEEM Next Week? Probably.

in #bitcoin • 7 years ago

You can get a better "sentiment" reading on Bitcoin (cryptos in general as bitcoin will lead) via the U.S. exchange traded "bitcoin tracker" GBTC. Someone else posted a blog about it here at steemit and I replied to his post. Just review my comments/replies and you will see more about GBTC than I have covered. I am simply tracking investor sentiment (which drives price) and as of right now it is much more "likely" that bitcoin goes lower. I am updating GBTC as new signals come in.

http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=&symb=gbtc&x=46&y=13&time=18&startdate=1%2F4%2F1999&enddate=2%2F18%2F2017&freq=7&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=0&maval=9&uf=0&lf=1024&lf2=2&lf3=8&type=2&style=320&size=4&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=15

The "actual" bitcoin "live" ticker still shows price being manipulated by high volume buyers at lows. When a high volume low at a buy point fails to acheive a sustained rally...watch out!

http://bitcointicker.co

7 years ago in #bitcoin by
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     7 years ago 

    Thanks. I am checking it out. I appreciate it.

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     7 years ago 

    Your welcome. The one "advantage" the Over teh Counter (OTC) traded GBTC offers over actual bitcoin is that you can get in and out within 5 seconds. Most will still make mistakes trading it because when trade volumes are low the bid/asked spread is wide. But still...even if you screw up it's "nice" to know you can be out in 5 seconds even if you "panic" out during a selling wave. Noooobody will promise that with "actual" Bitcoin. :-) My results have been very good trading both GBTC and "actual" bitcoin simply by tracking this single indicator for overall sentiment. I doubt you will get hurt trading bitcoin if you follow me. :-) The other blogger gave a much better overview of GBTC itself so at least go check that. I'll post the link to you in a minute.

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       7 years ago 

      Here you go. Don't upvote me, upvote this fellow. More people will listen to him than me and by getting the word out it means more people (who even wish to trade bitcoin) can see an alternative way to do it. I think it's safer. I began trading it here wiht a "mythical" $1000 starting account. I could blow that up in 1 afternoon if I was the "ave" bitcoin trader.

      https://steemit.com/bitcoin/@unknowncrypto/while-the-whole-world-is-waiting-for-a-bitcoin-etf-one-is-already-available#@joejustjoe/re-unknowncrypto-while-the-whole-world-is-waiting-for-a-bitcoin-etf-one-is-already-available-20170609t143053231z

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