Quote from: emoji00 on February 04, 2018, 10:40:27 PM

Quote from: pianomikey on February 04, 2018, 07:14:33 PM

I just found this forum a few days ago after seeing the price go to $7xxx. I got a little interested in maybe buying the dip for long term investment, or at least seeing what is new in the Bitcoin scene, since I played around with it in 2011 or 2012 or so. I'm interested in the possibilities of crypto currency. However:

What I have found perusing these forums is that crypto has gone absolutely batshit insane and it is impossible to find anything even resembling true technical discussion. This place has become an echo chamber of a million English-Second-Language greedy naive children.

If you've done even 15 minutes of actual chart exchange study, you can see that anybody "buying the dips" on this "product" is just lighting money on fire.

If you bought at $1000, congrats, you got in on the ground floor (which was actually less than $1 but I doubt anybody here cares about that). If you bought at $10,000, cut your losses and soon. Progressively lower highs for over month bode extremely poorly. The long-term technical damage to the chart has made it screamingly clear that this is an asset bubble, and a real humdinger.

Spoetnik: if you're still here, thanks. You probably didn't save me anything since this community and the charts themselves scream "speculative bubble bursting", but you've probably saved hundreds of unsophisticated lurkers from getting destroyed.

Good luck, India, China, Singapore, Japan, Russia, or wherever the hell most of you are from. You will need it.

Yet another newby user (that is probably just an alt of someone) predicting disaster, oh well. There are several things I have noticed on this forum: a) People have got used to FUD b) People have been used to bitcoin falling hard, and going up hard.

... and c) People like you have gotten used to spreading opinion without feeling any particular need to support it with any data whatsoever.

Truly. If you believe in that piece of information you read, then you don't really know anything about technical analysis. Just open 5 years long price chart and see the big picture. Then you'll understand what I mean.