Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
[edited out]
[..... various price directional discussions ]
I don't have any real contentions with the various points that you made - including some of your additional analysis - beyond some of my already made assertions and probably also a criticism that you are likely giving too much weight to short-term noises while ongoingly under-appreciating the difficult to quantify UPpity powers of king daddy.
One aspect (maybe example) that causes me some concerns relates to the DOWNity gravitational forces that you seem to be assigning to needs to fill in prior price gaps, and overall I do not disagree with your recognition of such price gap filling forces - even though I likely am assigning quite a bit less importance to how strong such forces might be.
Otherwise.. good discussion points.. you yucking my yum bear who proclaims to want to be a bull..
.hahahahahaha$70,000 this weekend 🤪
Ah.. ha!!!!!!
Just discovered that bitcoinPsycho and Philipma1957 are the same peeps......
By the way, when does weekend start? And when does weekend end? just so that we (royal of course) can verify dee true of such proclamation.
It's so easy to be in profit without doing anything at all. Just buy Bitcoin, HoDL, and give it some time. No need to trade (a sure way to lose your sleep and possibly your sanity, along with your coins), no need to mess with shitcoins, no need to constantly check prices & charts. Just one simple, stress-free method that has proven to be a winning strategy time and time again. And yet, people still trade, still bet on the latest shitcoin, still listen to self-proclaimed "crypto-gurus" on YouTube advising them to buy this and that.
Take my shitcoiner cousin, for example. He made a meager 3x of his investment ($6000) since 2017, after years of stressful trading, not in Bitcoin, but in several shitcoins -- he could have easily made 30x if he had bought Bitcoin and HeDL. He has already withdrawn his profits ($12000) to buy some land and a large-screen TV.
Now he has developed a new strategy to become rich: spread his capital (the initial, and remaining $6000) on more than 30 different shitcoins. His idea is that, even if 10% of them heavily pump, he will end up in more profit than simply putting them all on Bitcoin and HoDL. I've warned him that this is probably not going to work out, but he's sure it will. Using all his $6000 to buy BTC at the current price of $63k, when Bitcoin price reaches $100k (and it soon will), he would have about $9500, a healthy extra $3500 in profit. Let's see how his shitcoin-spreading strategy plays out. I hope it works out, but fear it won't.
Christmas will be fun this year.
Take my shitcoiner cousin, for example. He made a meager 3x of his investment ($6000) since 2017, after years of stressful trading, not in Bitcoin, but in several shitcoins -- he could have easily made 30x if he had bought Bitcoin and HeDL. He has already withdrawn his profits ($12000) to buy some land and a large-screen TV.
Now he has developed a new strategy to become rich: spread his capital (the initial, and remaining $6000) on more than 30 different shitcoins. His idea is that, even if 10% of them heavily pump, he will end up in more profit than simply putting them all on Bitcoin and HoDL. I've warned him that this is probably not going to work out, but he's sure it will. Using all his $6000 to buy BTC at the current price of $63k, when Bitcoin price reaches $100k (and it soon will), he would have about $9500, a healthy extra $3500 in profit. Let's see how his shitcoin-spreading strategy plays out. I hope it works out, but fear it won't.
Christmas will be fun this year.
For sure it does not sound like a winning strategy both in terms of actually hitting on enough of those coins (or great enough price appreciation) to actually outperform bitcoin, and also the need to monitor and potentially time such cashing out.. whether that is watching for the next year or perhaps watching for several years... Need not really say too much more, but gosh that sounds like a bad plan.... I suppose he would not want to go $3k into bitcoin and $3k into various shitcoins because reducing his shitcoin investment from $6k to $3k seems like it is too diluted.. but his whole thinking in regards to both how to invest and what makes a good investment (rather than a gambling) strategy is diluted, so there is that.