Quote from: The Pharmacist on June 28, 2019, 01:48:59 AM

Quote from: cocoadreamboy on June 26, 2019, 09:47:22 PM

I use LOGIC and NUMBERS to figure out my trading and holding strategies.

So you say, but my guess is that you aren't privy to complete information about the markets and what the miners are actually doing. Unless you're a serious insider-bigwig (and you may well be, who knows), there's an awful lot of guesswork involved when trying to figure out how to play the crypto market.

Bitcoin basically comes down to supply and demand, unlike the stock market where business factors have a huge influence on a stock's price. But in that supply and demand there are myriad factors dictating demand--and to a lesser extent, supply. I've always thought of it as an enormous multivariable calculus problem that keeps changing. So your claims to use logic and numbers are laudable, I'm skeptical as to how much they can really help you as a trader. But I could be completely ignorant and wrong.

As to the question posed in the title: $13k wasn't sustainable because the price curve was way too steep. Too much money poured in, too much speculation happened, and too much selling went on after bitcoin hit that mark. The only way bitcoin is going to stick around at $13k or above is if the price/time slope is a lot more shallow. The bitcoin market doesn't tolerate spikes very well, as you may have noticed.

But hey, at least it didn't crash back down to $3000. I'm totally cool with $11,350 (which is where it stands as I type this).

The only thing that is necessary is time to return the price back to logical levels. You seem to focus entirely on the price of the coin vs looking at the reasons for the price of the coin. 13k required WAAAY too much continuous investment to maintain. Even a dumb person with my data could of seen that. @ 11,350 the bitcoin market will need $20.43 million per day to maintain Wink

good luck with that lol

Why would one promote this type of thinking? What makes sense to me is whoever manipulated the price upwards needs more liquidity. Without promoting fantasies about bitcoin they won't be able to make all the money they need to make.

If you want to see real data May's data is free on my site:

https://www.amsinger.org

Please check it out it is very important to understand how much your risk is,

Aaron