Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Hate to break the news to uie poo-ie, Hueristic, but I will.
Someone's gots a do it.
Your English sucks about as badly as sirazimuth's singing.
No homo.
Someone's gots a do it.
Your English sucks about as badly as sirazimuth's singing.
No homo.
Hence why I specifically cited the fact I consider this (my first {natural}) a "second language". ;P
And it gets worse every year!
Really? you don't have JJGay on ignore?
If you don't love JJG you don't love Bitcoin. You heard it here first.
I am so blushening...
Now it seems that we have broken resistance and that we are going to 50K in the blink of an eye.
$46,325.22 on bitstamp.
Waiting for trolldhon and his theories.
$46,325.22 on bitstamp.
Waiting for trolldhon and his theories.
Theories??? It's math and science pal. That ain't no theory.
Since when did math and data science not include statistical theories?
One theory is the amount of short positions are still over leveraged last I checked (with $2 billion open positions). The bears are refusing to exit their losing positions, instead are holding onto their shorts Bitcoin as it rises and finds support above the 200 Day MA
What happens theoretically when these positions get liquidated is they have to buy back into Bitcoin. This is how the $50-60K "blink of an eye" can occur. All theory obviously, but 35% shorts vs longs in a bull market is still over leveraged imo.
Remember when price crashed 30% in a day?
If you are referring to May 2021, then surely a rapid crash in a short period, such as a day (or less) would be important, yet even the dragging out of what amounted to about a 50% crash in a week seemed to have had even more profound significance in terms of traders not necessarily wanting to close their position at a loss or less of a profit because they continue to believe that the bottom has been reached and they may even double and triple down upon the belief that the correction could not go any further (at least it should not within the high probabilities assigned to the circumstances).. So leverage makes the matter worse, but the dynamics are similar in terms of both not wanting to give up on a position.
The market was over leveraged long, the bulls got liquidated. Some theorized this would happen, I ignored it. I won't ignore this scenario in the opposite direction. That would be naive.
Ideally everyone exists their losing positions before liquidation, or at least at different prices. But they don't, and they never learn.
Ideally everyone exists their losing positions before liquidation, or at least at different prices. But they don't, and they never learn.
It tends to be a prudent position to hold onto your position, but surely bitcoin's outrageous runs, whether towards UPpity or DOWNity can really reck those folks who continue to hold onto their position. Probably in bitcoin the glory is even so much greater, when it occurs, and the outrageousness goes towards UPpity. There tend to be so many folks who try to categorize bitcoin as if it were a mature asset class and they either underappreciate (or don't recognize at all) the exponential s-curve adoption aspect of bitcoin's underlying fundamentals, and surely it becomes nice to see those periods play out, and sure it is not just the leveraged players who get fucked by their failure/refusal to appreciate/recognize BTC's exponential s-curve adoption component.
There are some of us who try to point out (until we are blue in the face) bitcoin's exponential s-curve adoption component to people/normies in order that they can appreciate that they do not need to invest a whole hell of a lot into bitcoin, relatively speaking, and just get the fuck off of zero and they will likely get a decent amount of value in that - and sure of course, there is even more value in putting a more meaningful stake into bitcoin, but still the "more meaningful " stake is not absolutely necessary in order to still get a decent amount of value in just being moderate and getting off of zero as a first step.
Another thing is that people (whether friends, relatives or just acquaintances) tend to look at you like you are some kind of wack job that is trying to evangelize some kind of cult ideas (or pump your bags), and frequently, I do try to clarify that I could give few fucks if they actually buy any bitcoin or get involved in bitcoin because it is likely going up no matter what I do or they do, and they can either be "in on it" or just sit on the sidelines like a bump on the ground while the greatest wealth transfer in their lifetime is taking place - and still the vast majority of the time the normie(s) in the audience does not do shit to even take the bare minimum steps of setting up some basic accounts in order to even come close to getting off of zero.