Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Q: can @jjg get moar stupenings per sq meter of the posting space?
A: yes, he/she can
Someone is consumed by emotions..unable to recognize a simple fact that bitcoin returns THIS year suck big time, but it might change starting in October.
Dominance decline (with no reversal) surely indicates a multi polar world where bitcoin is just one big actor.
As long as bitcoin stays above 50%, there is always a chance that other projects functionality would be folded into bitcoin.
At 40%-still a small chance, at 35% almost no chance and at 30%-no chance.
It is what it is, and I still have much more than 40.7% allocated to bitcoin (more like slightly below 60%) so you can call me "overweight" in bitcoin, but I am not going to sit idly twisting my thumbs and doing retarded sell outs-sell ins (in and out of fiat) which some people here are proposing.
In fact, @jjg probably cost many millions in lost opportunity to those who listened to his/her diatribes in the last 9-10 mo or so.
If all alts suddenly collapse, that would be even better still since the majority of my cryptocurrencies (or maybe you like to call them "virtual currencies", lol) are in bitcoin and my cost in btc and alts (aka "shitcoins") is now below ZERO. I am playing essentially with the house money....for the win.
A: yes, he/she can
Someone is consumed by emotions..unable to recognize a simple fact that bitcoin returns THIS year suck big time, but it might change starting in October.
Dominance decline (with no reversal) surely indicates a multi polar world where bitcoin is just one big actor.
As long as bitcoin stays above 50%, there is always a chance that other projects functionality would be folded into bitcoin.
At 40%-still a small chance, at 35% almost no chance and at 30%-no chance.
It is what it is, and I still have much more than 40.7% allocated to bitcoin (more like slightly below 60%) so you can call me "overweight" in bitcoin, but I am not going to sit idly twisting my thumbs and doing retarded sell outs-sell ins (in and out of fiat) which some people here are proposing.
In fact, @jjg probably cost many millions in lost opportunity to those who listened to his/her diatribes in the last 9-10 mo or so.
If all alts suddenly collapse, that would be even better still since the majority of my cryptocurrencies (or maybe you like to call them "virtual currencies", lol) are in bitcoin and my cost in btc and alts (aka "shitcoins") is now below ZERO. I am playing essentially with the house money....for the win.
Honestly, ETH (#2 of the market) constantly loses against BTC since its last major ETHBTC pump. Sure, while there are other, younger smaller capped shitcoins as well that take up a fair amount of the market. However, i think this is just noise, and ultimately many shitcoiners aim to get more BTC, some more are just bagholders with also some of their wealth already in BTC.
Now, when is the best time to sell for shitcoin traders? When BTC is well below it's peak price target, compared to future cycle ATH (let's assume our favorite twitter analyst calls $180k, fpr example). When BTC starts going parabolic again, many traders know they will most probably lose money against BTC, so the selling starts on spot, which lets BTC price go up moar, Along the way, a good part of the shitcoin bagholders also sell, in face of their shitcoin's value decreasing, against BTC and even more against USD.
What about the shitcoin holders aka "diamond hands"? Well, sorry, maybe your $SALONA will go up next time after Bitcoin's ATH. Maybe you should have sold and hodl king daddy instead..
diamond hands in shitcoins ...a bad idea.
yes..i hope the market will turn toward bitcoin within the next two weeks.
having said that, not participating in some spectacular runs during YTD had costs some quite a bit in opportunity lost.
Morehead had predicted it early-kudos to him. Whats $SALONA? Whatever, it is beside the point.
the point was that we have a steady decline of bitcoin dominance over the last 9 mo. I don't like it, but i have to accept it as it already happen.
Going forward, we are at the fork in the road: either the dominance completely collapses (to 25-30%) or bumps up to maybe 50-60% soon.
My expectation is for the latter.