As I said over and over --> Crypto firm︂ Celsius pauses all transfers, withdrawals as markets tumble
And the next one will follow suit!︃
And the next one will follow suit!︃
Bitcoin below 31K - how far will this go?
- Thread starter maxmoney
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guys we follow a clear wyckoff schematic.News are made to justify these moves and not the other way round.
Small bounce till wednesday i guess and down to 18k (high probably caused by bad fed news with a 0.75 increase)
target hit now small bounce
guys we follow a clear wyckoff schematic.News are made to justify these moves and not the other way round.
Small bounce till wednesday i guess and down to 18k (high probably caused by bad fed news with a 0.75 increase)
target hit now small bounce
There is no need to wonder. At this point, it all depends on the stock markets because Bitcoin is now correlated to the stock markets. It is that simple. If the markets do down, then Bitcoin will go down (as investors deleverage). If the markets go up, then Bitcoin will likely go back up.
Just look at the price action today. A careful study of the hourly charts shows that Bitcoin bottomed at almost the same time as the stock markets. It also︀ rebounded at the same time as the stock markets.
Anyone who owns or trades Bitcoin︁ now needs to carefully follow the price action, and the underlying fundamentals, of the stock︂ markets. It is impossible to follow the underlying fundamentals of Bitcoin, because there are none︃ (except perhaps in a few nations with capital controls). But the underlying fundamentals of the︄ stock markets, which are terrible right now, will allow you to forecast the price action︅ of Bitcoin.
If we enter a bear market (as the NASDAQ already is in), then︆ Bitcoin is in deep trouble. If the stock markets decline for a year in a︇ bear market, then Bitcoin will likely decline for a year.
Just look at the price action today. A careful study of the hourly charts shows that Bitcoin bottomed at almost the same time as the stock markets. It also︀ rebounded at the same time as the stock markets.
Anyone who owns or trades Bitcoin︁ now needs to carefully follow the price action, and the underlying fundamentals, of the stock︂ markets. It is impossible to follow the underlying fundamentals of Bitcoin, because there are none︃ (except perhaps in a few nations with capital controls). But the underlying fundamentals of the︄ stock markets, which are terrible right now, will allow you to forecast the price action︅ of Bitcoin.
If we enter a bear market (as the NASDAQ already is in), then︆ Bitcoin is in deep trouble. If the stock markets decline for a year in a︇ bear market, then Bitcoin will likely decline for a year.
That is just basic Investing 101. If you cannot perform such simple tasks, you should not be investing, much less speculating in something as volatile as Bitcoin.
Or was that a facetious remark?
Or was that a facetious remark?
No it was a remark to commend you on your analysis- I have a similar hypothesis as well.However bitcoin is almost mainstream now so it may not be possible for everyone to become a trader or look at hourly charts is what i meant.And not all traders are profitable either.
I am not a trader either. I invest, which is why I do not own Bitcoin (which is a pure speculation).
I intended my analysis of Bitcoin to demonstrate its current correlation to the stock markets. An analysis of Bitcoin itself is useless because Bitcoin has no widely adopted utility.︀ So, how can you judge its true value?
But you can now determine its general︁ price direction based on a careful analysis of the macroeconomic view of the economy and︂ the movement of the various stock markets.
For example, the NASDAQ lost about 78% of︃ its value during the Great Financial Crisis (and it is currently down about 28%). If︄ that happened again, Bitcoin could lose 95% of its value or even more. When investors︅ panic, almost anything can happen.
I intended my analysis of Bitcoin to demonstrate its current correlation to the stock markets. An analysis of Bitcoin itself is useless because Bitcoin has no widely adopted utility.︀ So, how can you judge its true value?
But you can now determine its general︁ price direction based on a careful analysis of the macroeconomic view of the economy and︂ the movement of the various stock markets.
For example, the NASDAQ lost about 78% of︃ its value during the Great Financial Crisis (and it is currently down about 28%). If︄ that happened again, Bitcoin could lose 95% of its value or even more. When investors︅ panic, almost anything can happen.
Well i would consider you as a speculator (Trader,Investor,Speculator) all the same only the︃ time lines may vary.Roughly the objective is almost the same and if you have started︄ looking into hourly charts then you definitely have switched sides from being an investor to︅ a trader. Without keeping odds in favour in a play nobody is going to succeed︆ so it applies to all 3.
I do not use hourly charts. I recently looked at the hourly charts just to confirm that Bitcoin was now marching in lockstep with the markets (i.e., experiencing daily highs and lows at about the︀ same time). You cannot really do that using a daily chart.
The stock market and Bitcoin are now highly correlated. That is a fact that you can easily Google.
https://www.ai-cio.com/news/battered-stocks-and-bitcoin-are-increasingly-correlated/
https://www.ai-cio.com/news/battered-stocks-and-bitcoin-are-increasingly-correlated/
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