@adam,
I know this is from bitmex, but there weekly analysis is usually pretty good. This time they evaluate the finex hack.
Everyone keeps telling me to be bullish, but I'm not feeling it. I'm surprised we recovered so quickly and thought we would have dumped back to low 500's.
Regardless, enclosed is article link;
https://blog.bitmex.com/youve-been-buttfinessed/Thoughts?
i agree, i was also expecting the market to drop, and i kinda still do, my cheep coin target is set at 520. but as always... unber bullish long term, bitfinex is but an exchange that may or may not succeed in the long run, it can only effect price for so long.
i'm going to read this later, busy as fuck today... HELL of a week...
We already experienced one flash drop to $465, and then a pretty significant recovery.
I suppose it is possible that before we go up, we are going to have to go down first, but such downward correction is not guaranteed because hovering in the $500s for more than a week may be sufficient downward opportunities to buy... "cheep coins."
I still don't understand who are you working for... or what agenda you are on to unleash. But your bearish doom and gloom propaganda it ain't flying with me.
Frequently your logic (or lack thereof) escapes me.
I may not post uber bullish scenarios; nonetheless, I recognize uber bullish scenarios, and I attempt to provide, opinion, factual description and logic in such a way that takes into account both upside and downside potential. I don't proclaim to have any extra hidden insight nor agenda beyond what I periodically disclose in my posts.
You, on the other hand, seem to get so caught up in describing every situation as "up, up, up" that you either are living in a fantasy world, you are badly informed or you are merely trolling.
Maybe it will dip a bit before skyrocketing ... but it is sure cheap coins lower than what we have now is very unlikely! Especially in the long term!
Maybe you need to recognize that no matter what the price point, there are possibilities that the price could move in either direction?
Certainly, the lower the price is dumped, the more difficult it becomes to push the price lower - nonetheless, any price point has probabilities on both ends.. .and maybe you disagree with my current approximate assessment that there could be around a 30% chance that we see $520 before we see $640... and even though your language seems to be suggesting that the probability is zero%, even you would concede that there is some probability that we could see $520 before $640, and currently, it is only a matter of degree between you and me.. or anyone else for that matter who is attempting his best to make approximate predictions regarding probabilities of price movements in either direction.
*Edit: the incident with Fenix that just happened just made things to be rushed 1-2 months in advance of schedule.
Sure, sometimes events, such as the Bitfinex "hack" could cause a price direction to happen more quickly or more severely than it otherwise would, yet there is no such thing as fate in regards to these kinds of matters, and accordingly, outside events change the trajectory forever (maybe only in minor ways, especially when we may be referring to longer time periods, but if the event is significant enough, there can be considerable changes in the short and medium term trajectory that may even shift the long term trajectory, depending upon severity of the event(s))