Signs you're in a bubble:
-Some guy named Parabolic Trav shows up
-New York Times publishes “Everyone Is Getting Hilariously Rich and You're Not”
-Katy Perry paints her nails with #crypto logos
Signs you may be recovering:
-Those things seem fucking ludicrous
Worst to Best Case Scenarios:
-No one talking about #crypto
-The U.S. president talking negatively about crypto (This just fucking happened)
-The U.S. president talking positively about crypto (Maybe next time)
I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity....
My trading has been ruled by the Pareto Principle. 85% of my career profits have come from 15% of trades. This means that 85% of my trades are throw aways. This means that my job is to allow the 15% become the 15% and apply aggressive trade mgmt to the 85%
Bitcoin takes aim at $100,000 target. $btcusd is experiencing its fourth parabolic phase dating back to 2010. No other market in my 45 years of trading has gone parabolic on a log chart in this manner. Bitcoin is a market like no other.
Euphoria comes during or after people made easy money. After CNBC is reminding your parents $BTC is back.
This is a place for guarded excitement and caution, not dumb greed.
If someone would have posted the first chart in late December, would you have guessed it had even a 𝘳𝘦𝘮𝘰𝘵𝘦 chance of playing out? I bet they would have been chased away with pitchforks. #Bitcoin
Perhaps the deadliest lingering effect of the 2017 #crypto bubble - aside from 90% losses - is that it instills expectations for an #altseason that may never come.
The tale of $BTC narrowly missing $9K and consolidating to support in the $6000s is dead.
Instead we're back to irrational exuberance, paving the road to another harmful bubble.
The "🚀🚀🚀🌕" and "$60K!" calls in your paid group are part of the problem.
#Bitcoin is back above $9,000 with the #Crypto Fear and Greed Index at an all-time high of 80 (Extreme Greed). Meanwhile, the parabolic uptrend remains intact and $BTC might rally towards $10,000 near term. Where do you see the price in 3-5 weeks from now?