Quote from: CryptoPro3 on July 15, 2017, 05:33:36 AM

I dont understand when you say "thats a lot of free coins for them to grab". You are not explaining how a crash will occur after august 1. Your post is very unclear. How are the big boys going to "crush our hopes"?

Either way, I think you are wrong. After August 1 I am thinking Bitcoin will go to $3000 relatively quickly and stay there, probably even go higher. The only reason the market is so red lately is because FUD about August 1 and threads like this.

Ok you're the exact type of person I'm trying to help (and I'm not trying to be condescending).
I started trading 10 years ago.... cut my teeth on penny stocks and small caps..... this is 100% the same behavior as crypo's. Same rules, same behaviors.

Maybe BTC is more isolated as people say it has more depth..... I can promise you it's market depth means nothing.... as does it's market cap. They aren't moving it's market cap, only it's order book and that is pure garbage.
The 1st thing people here need to do is stop looking at it as a currency, it doesn't matter if it is or isn't.... it's a stock. Same as USD, or paper Gold, or anything. If you can touch it, or get a futures contract on it, it's a commodity. If you can get a bond on something it's a security.
Any coin right now is a speculative stock.... the proper contemporary is a pink sheets stock (which runs from pennies to hundreds of dollars). The exchanges depth (the market maker/or lack of) is extremely similar.

It takes hundreds of millions to push the precious medals market around... and this is done on a daily basis. It takes billions to move the forex market around, and this is done on a daily basis.
The point is: It only takes a few million to move BTC around with a churning algo. A few million..... that's spare change. The same is done with small caps and pink sheets. It's churn.

What is the cardinal rule in trading? Sell the news.
It doesn't matter what the news is on the 1st. A long term positive decision won't be priced in advance.
Let's say some dream news comes out on the 1st.... best possible outcome. What will happen? The Muppets will buy, there will be a brief pop and the Muppets will be happy. The big boys will sell into the pop, and then drag it down. Why? The retail buyers will get nervous and question their purchase (understandable). There's nothing like loosing money to make people nervous.
What would you think if the news is good, and it drops below $2000? $1800? $1600?

2nd thing people need to understand is: The crowd is always wrong. If the general consensus is "after the 1st, it's going to go up".... and this IS the general consensus.... it means it is NOT going to happen. You're playing against the masters. Do they mind throwing away 20 million to drop it under $2000 when 90% of the Muppets think it'll go up? Not at all. If they can grab say a million coins and save a few hundred dollars a coin..... when they inflate it later.... they make hundreds of millions. That's the game.

I've seen it thousands of times, on hundreds of stocks I've followed closely. Fundamentals don't matter. Technicals only matter part of the time.

3rd thing people need to understand: Have you noticed the Coin exchanges break during big down moves? That's because of a lack of market depth. It happens on the big stock exchanges too. Anytime BATS breaks, that's manip and volume wasting the book. That's also how to you get phantom bars in trading software (algo's moving so fast they overwhelm the order book). So BTC is safe because so many people are "in it". No, no , no, my friend. That will get you killed. I've seen so many people go bust in stocks because they 100% believed what they were doing was right, and being right outweighed making money or being safe.

Just trying to help anyone who will listen. Be aware and be prepared. Have a plan.
My plan is to laugh. I've seen it before, and I'll see it again. Doesn't mean I like seeing good people get hurt.... quite the opposite.....I've seen that before.... and I'll see it again.

Hope you're right and we get a moon-shot right out of the gate after the 1st. That would be great. Experience tells me that's not going to happen.

-DE