GroovyGuru

Is investing in Crypto just a get rich quick scheme?

221 posts in this topic

@Yali

On 1/11/2021 at 7:52 PM, Yali said:

@Leo Gura

The point is not to get punished.

Bro, really?


It's just turtles all the way down.

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2 hours ago, Thought Art said:

Really? I thought maybe it was a way to escape wage slavery over the next 5 years to have more time to focus on my purpose. Just started researching so, I really have no idea.

That's like saying lotto tickets are a way to escape wage slavery. Just start researching lotto.

2 hours ago, North Sea said:

@Leo Gura I’m not comparing Van Gogh with crypto investors, I’m just saying he did not get rewarded. But great answer to my point.

You will not get rewarded unless you design your own reward.

Also, although Van Gogh was a great artist I would not exactly call him a massive value provider. At least not in his day. Paintings don't provide that much value to people which is why they are very hard to sell unless you are a rockstar celebrity artist.

Actually help someone's survival and you will get paid fairly well for it.


You are God. You are Love. You are Infinity. You are Leo.

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@Leo Gura Thank you for the clarification. I am still naive.

Edited by Thought Art

It's just turtles all the way down.

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53 minutes ago, Leo Gura said:

Also, although Van Gogh was a great artist I would not exactly call him a massive value provider. At least not in his day. Paintings don't provide that much value to people which is why they are very hard to sell unless you are a rockstar celebrity artist.

Vincent Van Gogh was the most beautiful soul that ever lived. He felt so deeply and conveyed the beauty around him on canvas as no else could. If you ever see a Van Gogh, you will see that his paintings are deep and mystical. The yellow on his sunflowers is like no other yellow you will ever see. His paintings are a window into his gentle but tormented soul. No other artist inspires so much compassion, yet the people around him didn't care for him and some thought he was some kind of a freak. He was never appreciated during his lifetime and never sold a single painting. The same passions that made him feel so deeply also made him deranged, depressed, and suicidal which ultimately led to his death. Only after his death, he went on to inspire millions of people. His tragic life is inseparable from his paintings, the two together are his art.  

Edited by Vrubel

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you won’t get rich quick in crypto, only if you are very lucky or you have already a ton of money and speculating hard.

BUT you will get rich slow. (But of course nobody wants to get rich slow) and you have to put A LOT of effort in your research. Asking for the coin that will make you rich is not the way - also that would be leeching off the time of research that another person did also known as spoonfeeding.

Leo has of course not the slightest idea of crypto but i always like him playing the devils advocate. 

What crypto really is would be what some call wealth transfer. Why? Because 1st. the big boys don’t have it on their radar. By the time they will and small fishes have caught up leveling the playing field.
2nd - you can deny it but the things being build right now will heavily influence our future - and i think for the better - investing in it then doesn’t sound so bad isn’t it? Especially when it all comes together for what some people loved it in the first place. Decentralization.

But of course you don’t have to buy the ticket for that boat. You can watch it from a safe distance and visit this new continent later when the infrastructure is already in place.
 

Edited by Aurelius

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18 hours ago, vinc3nc said:

Dude, what are you talking about? I clearly said the increase in % will be smaller & smaller each bull cyle due to needing more money to push up the price. And you saw what I wrote and now you're still saying as if I am claiming the opposite. What the hell?

No matter how you're making the measurement in terms of % increase - whether that's from the lows or the highs - it will be a lot smaller the next bull cycle. The fact is we're not going to a prolonged bear market like in 2017 at this point. This bull cycle is not finished, even if it corrects back to near 20ks.

I skimmed through what you said in a previous post about needing more money to push up the price.

And yes you're saying the % increase will be smaller next cycle, we're already up 1000% from the March 2020 COVID crash lows.

I don't think there would be a prolonged bear market like in 2017/2018, it could be shorter this time. Not 3 years like in 2017, but maybe a 1 or 2 year bear market. Compare current price action to 2017, in 2017 it went parabolic then it was over. Current price action right now looks like the top of what we see in the 2017 bubble. We're already seeing price slowing down and we've been under $40K for almost 2 weeks now.

What I'm saying is, I personally think the parabolic move is over, in other words the bull cycle is over. IN MY OPINION. Based on fundamentals + TA. Watch the video below for the fundamentals I'm looking at.

I think crypto was pushing up this time because of the same reason the stock market is getting pushed up. The stock market has been making new all time highs over the past year even though the economy is shit and worse than what we saw in the great depression. Ever wondered why?

I have a video for you, Biden will crash the markets, and Crypto will be included I'm sure:

 

Edited by 7thLetter

"Intellectual growth should commence at birth and cease only at death." - Albert Einstein

 

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1 hour ago, 7thLetter said:

I don't think there would be a prolonged bear market like in 2017/2018, it could be shorter this time. Not 3 years like in 2017, but maybe a 1 or 2 year bear market. Compare current price action to 2017, in 2017 it went parabolic then it was over. Current price action right now looks like the top of what we see in the 2017 bubble. We're already seeing price slowing down and we've been under $40K for almost 2 weeks now.

What I'm saying is, I personally think the parabolic move is over, in other words the bull cycle is over. IN MY OPINION. Based on fundamentals + TA. Watch the video below for the fundamentals I'm looking at.

I think crypto was pushing up this time because of the same reason the stock market is getting pushed up. The stock market has been making new all time highs over the past year even though the economy is shit and worse than what we saw in the great depression. Ever wondered why?

I have a video for you, Biden will crash the markets, and Crypto will be included I'm sure:

It might look like the 2017 bubble, but it's not. You can't really know how much there is left in this bull run. Also, the environment is different today. 42k today doesnt feel like 20k in 2017. It's not nearly as euphoric. Also, Biden will print way more money this year than Trump did.

You can say that the bull run is over, but what exactly does that mean for you? A bull run can have corrections, just like it had in 2017 (at 3k, 5k, and above 7k for example). A correction is not the end of the bull run. But if you say that BTC will crash down to 8-10k, then that's a 75-80% crash, which I think can't happen without a black swan event. There's so many people waiting to buy BTC cheaper. It would be surprising if it goes near 20k again at all.

You have to understand that a lot of people missed the boat on this run. The market just didn't give you a chance to buy in. It just went up & up & up. The value of dollar is decreasing more & more. Guess what that means for BTC.

Anyway, that's your opinion. But in my opinion, that's silly. I can't see an 80% crash in this environment. I'm saying it can correct for like 40-50% at max (between 20 and 25k), and only for a couple of months. And then hit ATH again later near the end of this year (100-200k in price, maybe even more).

I guess we'll see who will be more right in a couple of months.

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1 hour ago, vinc3nc said:

It might look like the 2017 bubble, but it's not. You can't really know how much there is left in this bull run. Also, the environment is different today. 42k today doesnt feel like 20k in 2017. It's not nearly as euphoric. Also, Biden will print way more money this year than Trump did.

Yes, we don't know, you don't know and I don't know either. Yes the environment is different, we're in a severe recession & global pandemic with money printing, 0% interest rates, etc.

You don't think it wasn't as euphoric even though we've already seen price double the previous ATH within' 4-5 months? After the break of the 2017 ATH, it took us 1 month to get to $40K. I'm measuring the movements on my chart at this very moment. In 2017 after the 3rd correction of the bull run from $7.5k to $6K, it took 1 month to get from $6K to the ATH ($19.8K). Back to current price action, if a $20000+ increase from $19.8K to $41K in 1 month isn't euphoric enough for you then how can 2017's $6K-$19.8K jump in one month be more euphoric?

Biden borrowing more money isn't a determining factor that would continue to keep the markets propped up. Watch the video. There's several other fundamental reasons that could lead to a market crash.

1 hour ago, vinc3nc said:

You can say that the bull run is over, but what exactly does that mean for you? A bull run can have corrections, just like it had in 2017 (at 3k, 5k, and above 7k for example). A correction is not the end of the bull run. But if you say that BTC will crash down to 8-10k, then that's a 75-80% crash, which I think can't happen without a black swan event. There's so many people waiting to buy BTC cheaper. It would be surprising if it goes near 20k again at all.

What I'm personally looking for to confirm the current bull run is over, is if we see price push below $30K. Then that's when I'll say its over for sure. If we see $20K that wouldn't be a correction imo, that's a 50% crash and could push a lot lower. And yes I know, 2017 had corrections. But that was before the parabolic move when price was moving slow. Once the parabolic move happens there aren't any significant corrections in between.

When you talk about price going up & up & up with no chance to buy, that's what I mean by a parabolic move. 2017 had ONE parabolic move up, and we've already seen the ONE parabolic move for 2020/2021. Now price is pushing towards $30K as we speak. If you look at previous years as well, in 2013 it had ONE parabolic move from $11 to $261 then that cycle was over. In 2014, ONE parabolic move from $100 to $1100. So again, the argument that we saw corrections at 3k, 5k, 7k doesn't apply here because that was not during or after parabolic moves.

1 hour ago, vinc3nc said:

You have to understand that a lot of people missed the boat on this run. The market just didn't give you a chance to buy in. It just went up & up & up. The value of dollar is decreasing more & more. Guess what that means for BTC.

Anyway, that's your opinion. But in my opinion, that's silly. I can't see an 80% crash in this environment. I'm saying it can correct for like 40-50% at max (between 20 and 25k), and only for a couple of months. And then hit ATH again later near the end of this year (100-200k in price, maybe even more).

I guess we'll see who will be more right in a couple of months.

The value of the dollar decreasing is a good fundamental to keep in mind but it doesn't necessarily confirm the current short-term (next couple of months) move will continue. BTC is overpriced right now and it will go to whatever price the market currently thinks its worth.

Hitting $100K this year still might be possible who knows, all I'm saying is the current move is over. A drop to $10K-$20K is possible before we move towards $100K. And even though I still believe $100K is possible by December but we see $10K within' the next couple months then that still means the current bull run is over. A new bull run will happen later.

Time will tell.

Edit:

Also, people wanting to buy isn't as important as how much they're willing to put in. 100,000 people could be waiting to buy but if all they have is $5K each then that's nothing. What's more important is if they have billions of dollars in cash. I'm sure everyone wanted to buy when BTC was $19K in 2017 also, and once started to drop all they did was buy into the crash. Demand will drop as price starts to crash. So people wanting to buy doesn't mean anything. Tell me who these people are and how much money they have that's more important.

Edited by 7thLetter

"Intellectual growth should commence at birth and cease only at death." - Albert Einstein

 

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1 hour ago, 7thLetter said:

You don't think it wasn't as euphoric even though we've already seen price double the previous ATH within' 4-5 months? After the break of the 2017 ATH, it took us 1 month to get to $40K. I'm measuring the movements on my chart at this very moment. In 2017 after the 3rd correction of the bull run from $7.5k to $6K, it took 1 month to get from $6K to the ATH ($19.8K). Back to current price action, if a $20000+ increase from $19.8K to $41K in 1 month isn't euphoric enough for you then how can 2017's $6K-$19.8K jump in one month be more euphoric?

The first mistake that you (or we) are making is that you're comparing this to the 2017 bull run. The current bull run will probably resemble more the 2012/2013 one. If you look at that one, you will see it had 2 booms in one bull run. But it never went below previous ATH, which means that it was one bull run really.

It will probably happen similarly here. It won't go below previous ATH (below 20k), and so you won't be able to say that this one is over already. But if you're saying we're crashing to around 10k, then that's another story. Then you can say this bull run is over. Also, if BTC wicks below 20k but later closes its candle above 20k, then it doesn't count as if it broke 20k really and that the bull run is over.

1 hour ago, 7thLetter said:

What I'm personally looking for to confirm the current bull run is over, is if we see price push below $30K. Then that's when I'll say its over for sure. If we see $20K that wouldn't be a correction imo, that's a 50% crash and could push a lot lower. And yes I know, 2017 had corrections. But that was before the parabolic move when price was moving slow. Once the parabolic move happens there aren't any significant corrections in between.

Lol, the current bull run is not over if it dips below 30k. I don't think you properly understand what a market cycle is, or a bull run for that matter. I'll post a picture for you below to help you understand what market cycles really are.

Also, you're too focused on the price alone and not enough on the % of the price. A 12-13k drop might seem a lot in terms of price, but it's not even a 30% correction, and you call that the ending of the bull run.

1 hour ago, 7thLetter said:

When you talk about price going up & up & up with no chance to buy, that's what I mean by a parabolic move. 2017 had ONE parabolic move up, and we've already seen the ONE parabolic move for 2020/2021. Now price is pushing towards $30K as we speak. If you look at previous years as well, in 2013 it had ONE parabolic move from $11 to $261 then that cycle was over. In 2014, ONE parabolic move from $100 to $1100. So again, the argument that we saw corrections at 3k, 5k, 7k doesn't apply here because that was not during or after parabolic moves.

Again, see the picture.

1 hour ago, 7thLetter said:

Also, people wanting to buy isn't as important as how much they're willing to put in. 100,000 people could be waiting to buy but if all they have is $5K each then that's nothing. What's more important is if they have billions of dollars in cash. I'm sure everyone wanted to buy when BTC was $19K in 2017 also, and once started to drop all they did was buy into the crash. Demand will drop as price starts to crash. So people wanting to buy doesn't mean anything. Tell me who these people are and how much money they have that's more important.

When I say "people", I also mean insitutions, banks, etc. Big players in other words.

 

I think I am right. You think you're right. I can't change that. But yes, time will tell.

 

EDIT: or maybe I should have been using the word "bull market" instead of "bull run".

2.png

Edited by vinc3nc

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44 minutes ago, vinc3nc said:

The first mistake that you (or we) are making is that you're comparing this to the 2017 bull run. The current bull run will probably resemble more the 2012/2013 one. If you look at that one, you will see it had 2 booms in one bull run. But it never went below previous ATH, which means that it was one bull run really.

I think you mean between 2013 and 2014 and yes I see there’s two impulse or parabolic moves. But back then was different because we both already know it takes a smaller amount of money back then to see jumps like that.

And its funny, whether you realize it or not you’re looking for a confirmation bias to prove a point. “Nope can’t be like 2017 there’s only one parabolic move here, no not 2016, hmm let’s see here.. ah yes its more like the 2013 one with two parabolic moves! This one certainly confirms my bias!”

44 minutes ago, vinc3nc said:

Also, if BTC wicks below 20k but later closes its candle above 20k, then it doesn't count as if it broke 20k really and that the bull run is over.

It depends on what timeframe you’re looking at. Again, you’re not acknowledging the importance of timeframes. The higher the timeframe the stronger it is.

44 minutes ago, vinc3nc said:

Lol, the current bull run is not over if it dips below 30k. I don't think you properly understand what a market cycle is, or a bull run for that matter. I'll post a picture for you below to help you understand what market cycles really are.

I didn’t clarify my bad. If it dips below $30K then that means it has created a new lower low and broken support. With broken support would mean price could push down further to $20K and potentially $10K. Then, the parabolic move is certainly over.

48 minutes ago, vinc3nc said:

Also, you're too focused on the price alone and not enough on the % of the price. A 12-13k drop might seem a lot in terms of price, but it's not even a 30% correction, and you call that the ending of the bull run.

Already clarified this above.

51 minutes ago, vinc3nc said:

EDIT: or maybe I should have been using the word "bull market" instead of "bull run".

2.png

Bull run bull market same thing. But it really depends on the timeframe once again. If we’re talking short term within’ 1 Year then yes I think it could be over. If we’re talking 10 years sure we can say Bitcoin is on a bull run to the upside.

I’ve seen this picture before already. Could we really hit the top at $100K who knows. But if you actually know TA outside of crypto you would know that channels don’t perfectly bounce in between the lines. Its possible BTC drops at this point then reaches the top at $100K at a later point. It doesn’t have to get there in a perfectly straight line.


"Intellectual growth should commence at birth and cease only at death." - Albert Einstein

 

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34 minutes ago, 7thLetter said:

I think you mean between 2013 and 2014 and yes I see there’s two impulse or parabolic moves. But back then was different because we both already know it takes a smaller amount of money back then to see jumps like that.

In 2013 mostly, in 2014 it was already over (the bear market started).

Back then it was different in % gain only. This time the graph can look similarly, only the % will be different 500-1000% instead of 10000%. So 2 booms again are possible.

34 minutes ago, 7thLetter said:

And its funny, whether you realize it or not you’re looking for a confirmation bias to prove a point. “Nope can’t be like 2017 there’s only one parabolic move here, no not 2016, hmm let’s see here.. ah yes its more like the 2013 one with two parabolic moves! This one certainly confirms my bias!”

Lol. it wasn't me who made this up. Lots of people with a lot more knowledge than me said that that could be the case - that this run might be more like the 2013 run than the 2017 one. We are both listening to certain people and make our opinions based on that. Don't act as I am the only one doing that.

34 minutes ago, 7thLetter said:

It depends on what timeframe you’re looking at. Again, you’re not acknowledging the importance of timeframes. The higher the timeframe the stronger it is.

Where did you see that I'm not acknowledging the importance of timeframes? You just made that up. Trust me, I understand well enough that weekly or daily candles are way more important than 4-h, or 1-h candles. So, when I talked about closing of the candles, I meant big timeframe candles of course, but I just assumed you would know that.

34 minutes ago, 7thLetter said:

I didn’t clarify my bad. If it dips below $30K then that means it has created a new lower low and broken support. With broken support would mean price could push down further to $20K and potentially $10K. Then, the parabolic move is certainly over.

Look at the 2013 bull run. It made a lower low, but the bull market continued later. The problem here is that you're the one not looking at the big picture (long-term). We can call here any move upwards a bull run if we want, or we can be more accurate and call a bull run only when it happens on a larger scale - when we are actually in a bull market (after a prolonged bear market).

34 minutes ago, 7thLetter said:

Bull run bull market same thing. But it really depends on the timeframe once again. If we’re talking short term within’ 1 Year then yes I think it could be over. If we’re talking 10 years sure we can say Bitcoin is on a bull run to the upside.

I’ve seen this picture before already. Could we really hit the top at $100K who knows. But if you actually know TA outside of crypto you would know that channels don’t perfectly bounce in between the lines. Its possible BTC drops at this point then reaches the top at $100K at a later point. It doesn’t have to get there in a perfectly straight line.

I would say that long-term is 5, 10 or even more years, mid-term 1-3 years, and short-term less than a year. So for example, if you say that you're bullish long-term, that means you believe that BTC will succeed eventually as a cryptocurrency. If you're bullish midterm, then you probably believe that you're bullish for the next year or so, or if you're bearish midterm, then you're believe we will be in a bear market for the next 1-3 years. If you're bullish short-term, then maybe you're only bullish for a few months, or bearish for a few months.

So you can be bearish now for a few months (till 20k for example), but you don't believe the bull market is over yet, because you believe it can hit 100k at the end of the year. Hope that makes sense.

And no one said these graphs are perfect. But they can make you understand things better in general. They give you an idea what BTC is about, and how it behaves.

Edited by vinc3nc

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Yeah, I am not gonna bet on 'getting rich quick' on crypto. But I suspect it is worth studying, and partaking. I think Crypto is gonna be a big part of the future. I respect Leo's opinion, I have to really look at it though. There is a some cool stuff surrounding it.

Edited by Thought Art

It's just turtles all the way down.

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17 hours ago, vinc3nc said:

Lol. it wasn't me who made this up. Lots of people with a lot more knowledge than me said that that could be the case - that this run might be more like the 2013 run than the 2017 one. We are both listening to certain people and make our opinions based on that. Don't act as I am the only one doing that.

You think my opinions are mainly based on what other people say? Aw thanks I take that as a compliment :D. I think for myself for the most part, everything I've ever said has been my own opinion and is not something someone else said. The TA is what I do on my own. Yes I do listen to other gurus but I still form my own opinion. I only follow two crypto Youtube channels (Datadash & Chico Crypto), and I think they're bullish from here for the most part.

17 hours ago, vinc3nc said:

Where did you see that I'm not acknowledging the importance of timeframes? You just made that up.

There have been 3 instances where you haven't specified the timeframe in conversation. Ask and I'll kindly quote these 3 instances here for you.

17 hours ago, vinc3nc said:

The problem here is that you're the one not looking at the big picture (long-term).

Why is it a "problem" when I'm literally saying my opinion is short-term? All I'm saying is $10K-$20K is possible, its not like I'm saying BTC will go to $0.

17 hours ago, vinc3nc said:

So you can be bearish now for a few months (till 20k for example), but you don't believe the bull market is over yet, because you believe it can hit 100k at the end of the year. Hope that makes sense.

Here's my final opinion, I'm neutral about where price could go from here. IF we see the break of $30K support then I'm bearish, price could go to $20K or $10K. We've already seen price make a new lower low for the week and touch $29K recently but it hasn't broken the $30K support level.

IF we break above $40K and make new all-time highs then I'm bullish.

But for the most part I'm bearish from here short-term.

Below is what my chart looks like. In the bearish case it'll break $30K & $20K then touch the green uptrend line around $10K-$13K. That's why I call around $10K. We're still in January and 2022 is far from now, $100K might be possible still especially when everyone is calling it. If everyone believes it then maybe that's enough for it to work out. But then there's the possibility they're just saying that to manipulate everyone to push the price up.

John McAfee back then said he'll eat his dick on national TV if BTC doesn't hit $500K-$1M by 2020. That language is so manipulative and that's way too optimistic. Obviously we didn't hit $500K or $1M, and he didn't eat his dick. He probably just said that to get people to push the price up.

My chart:

btc.png


"Intellectual growth should commence at birth and cease only at death." - Albert Einstein

 

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@7thLetter Hoping you're right as I want to pick up more BTC, ETH, ADA, DOT, LINK, VET, ZIL & a couple other more speculative coins.  

I personally think we will see BTC stabilize, and see a small Alt rally as BTC dominance keeps dropping, once it goes below 60% then the Alts will really come alive! 

I like this guys video about cashing out profits along the way, especially with ALT coins, as the market drops heavy & the cycles last several years-

 

Seems like we've had a small rebound since the 29k bottom last night, missed out on ETH close to $1k as well :( 

Edited by LfcCharlie4
Checked prices

'One is always in the absolute state, knowingly or unknowingly for that is all there is.' Francis Lucille. 

'Peace and Happiness are inherent in Consciousness.' Rupert Spira 

“Your own Self-Realization is the greatest service you can render the world.” Ramana Maharshi

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3 minutes ago, LfcCharlie4 said:

@7thLetter Hoping you're right as I want to pick up more BTC, ETH, ADA, DOT, LINK, VET, ZIL & a couple other more speculative coins.  

I hope so too, just don't take my word on it lol

And oh, just watched a part of the video you linked and he's sort of saying the same thing

6 minutes ago, LfcCharlie4 said:

 

I personally think we will see BTC stabilize, and see a small Alt rally as BTC dominance keeps dropping, once it goes below 60% then the Alts will really come alive! 

That's possible too. We've already seen alts rally quite a bit over the past week or so but it wasn't anything too too special. Also ETH already touched its 2017 all-time high, could it go higher? Who knows we'll see.

But if we're saying BTC will come crashing down then I would assume alts will go down along with it, we've already seen this happen in the past. The only thing though is that we haven't seen the alt coin market cap reach the 2017 market cap high at around 473B. We've barely reached 400B.


"Intellectual growth should commence at birth and cease only at death." - Albert Einstein

 

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53 minutes ago, 7thLetter said:

Why is it a "problem" when I'm literally saying my opinion is short-term? All I'm saying is $10K-$20K is possible, its not like I'm saying BTC will go to $0.

Here's my final opinion, I'm neutral about where price could go from here. IF we see the break of $30K support then I'm bearish, price could go to $20K or $10K. We've already seen price make a new lower low for the week and touch $29K recently but it hasn't broken the $30K support level.

10-20k is a bit different than what you were saying a few posts ago (8-10k) when even Leo said you had no clue and you were just guessing. But anyway, I still think that even 10-20k is ridiculous. Now, near 20k might be possible, but below it would be a big, big surprise.

You have to understand that when it comes to TA, nothing is certain. Everything can happen in theory. BTC can go to 0 tomorrow. So basically TA is about triyng to figure out how likely it is for a certian thing to happen. If someone told me BTC would go to 0k this year, I would tell him that he has no clue about crypto. If another person said BTC would go to 3k after this correction, I would tell him the same thing. If someone said that BTC can drop below 10k in a few months, I would tell him the same thing. That's the reason why I said that to you, too.

53 minutes ago, 7thLetter said:

Why is it a "problem" when I'm literally saying my opinion is short-term? All I'm saying is $10K-$20K is possible, its not like I'm saying BTC will go to $0.

It is a "problem" because you don't see the big picture (like in that graph I posted) and because of that you don't see how BTC tends to behave - why going to back to 10k doesn't make much sense, especially in today's environment.

53 minutes ago, 7thLetter said:

IF we break above $40K and make new all-time highs then I'm bullish.

At this point, becoming bullish at 40k is late already. It doesn't need to go that high to know that it will break ATH.

53 minutes ago, 7thLetter said:

I only follow two crypto Youtube channels (Datadash & Chico Crypto), and I think they're bullish from here for the most part.

John McAfee back then said he'll eat his dick on national TV if BTC doesn't hit $500K-$1M by 2020. That language is so manipulative and that's way too optimistic. Obviously we didn't hit $500K or $1M, and he didn't eat his dick. He probably just said that to get people to push the price up.

I used to listen to Datadash 3 years ago. He has no clue about TA. He's too young & inexperienced. I don't listen to these kinds of people anymore. I've learned my lesson.

I know what McAfee was saying. What he says is irrelevant.

I listen to what people like Peter Brandt, Willy Woo, Tone Vays, etc. have to say. These kinds of people have a lot of experience with TA & some of them know a lot about fundamentals.

 

So, what are you going to say in a few months (or weeks) if BTC reverses at around 25k and then breaks ATH and goes to 60k? It seems to me that you're saying "100k is possible" just so that in case you were wrong with your 10k prediction, you can say "I was right about 100k".

Edited by vinc3nc

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20 minutes ago, vinc3nc said:

10-20k is a bit different than what you were saying a few posts ago (8-10k) when even Leo said you had no clue and you were just guessing.

It still could wick to $8K, that's why I said 8-10K. But overall, around the 10K level is where the uptrend line is.

23 minutes ago, vinc3nc said:

You have to understand that when it comes to TA, nothing is certain.

Uh, I never said it was. That's sort of what you're saying though if you think price will shoot up in a straight line to touch $100K in the graph you showed me.

24 minutes ago, vinc3nc said:

It is a "problem" because you don't see the big picture (like in that graph I posted) and because of that you don't see how BTC tends to behave

Yes we've seen how BTC behaves, in 2017 we saw $20K and a crash to $3.5K.

26 minutes ago, vinc3nc said:

At this point, becoming bullish at 40k is late already. It doesn't need to go that high to know that it will break ATH.

That's what I'm personally looking for to confirm where price will go. Anyone who says otherwise is just gambling in my opinion.

We're either going to break ATH or the bubble has popped.

29 minutes ago, vinc3nc said:

I used to listen to Datadash 3 years ago. He has no clue about TA. He's too young & inexperienced. I don't listen to these kinds of people anymore. I've learned my lesson.

He's bigger on the fundamentals of crypto. I don't follow his TA as much. My TA is my own analysis, outside of crypto I trade Forex and been learning from Forex traders. Crypto is definitely a harder market to analyze though I'll say that.

31 minutes ago, vinc3nc said:

So, what are you going to say in a few months (or weeks) if BTC reverses at around 25k and then breaks ATH and goes to 60k? It seems to me that you're saying "100k is possible" just so that in case you were wrong with your 10k prediction, you can say "I was right about 100k".

Uh.. what? Stop projecting your cringeness onto me.

I say $100K is possible because everyone predicts $100K in 2021, even all the experts & gurus. I'm just a random guy, and I don't want to claim I know more than them. Plus if everyone believes it and is all in it together then that would act as a self-fulfilling prophecy.

Everything to me is just a POSSIBILITY. I'm NOT claiming anything about where price will CERTAINLY go.


"Intellectual growth should commence at birth and cease only at death." - Albert Einstein

 

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1 hour ago, 7thLetter said:

Uh, I never said it was. That's sort of what you're saying though if you think price will shoot up in a straight line to touch $100K in the graph you showed me.

Haha, you've got be kidding me. Are you aware that the graph is from 2018 and that line towards 100k is already less steep than what we're seeing now in cpryto? And on top of that it doesn't seem straight at all (you can clearly see curves).

1 hour ago, 7thLetter said:

Yes we've seen how BTC behaves, in 2017 we saw $20K and a crash to $3.5K.

it's just hard to tell you anything because you don't understand that 40k BTC in 2021 doesnt equal 20k in 2017, no matter how many times I try to tell you that. You dont understand market cycles. I can't put it otherwise. BTC doesn't crash 80% every year, sorry.

1 hour ago, 7thLetter said:

That's what I'm personally looking for to confirm where price will go. Anyone who says otherwise is just gambling in my opinion.

You can "confirm", but everyone else is "gambling". Haha, nice.

1 hour ago, 7thLetter said:

Uh.. what? Stop projecting your cringeness onto me.

I say $100K is possible because everyone predicts $100K in 2021, even all the experts & gurus. I'm just a random guy, and I don't want to claim I know more than them. Plus if everyone believes it and is all in it together then that would act as a self-fulfilling prophecy.

Everything to me is just a POSSIBILITY. I'm NOT claiming anything about where price will CERTAINLY go.

What cringiness lmao? Do you even understand what that word means?

Yes, you're a random guy. You're just guessing, as Leo said. Everyone can see that from miles away. You don't understand that TA is about probability.

If I tell you that BTC has about 50% chance of hitting 25k, and about 30% to hit 20k, and less than 5% of hitting 10k, and less than 1% of hitting 1k, then you can clearly see that that odds are against you if you bet on 10k here.

You will believe experts & gurus when they say it can hit 100k, but you won't believe them when they say that 10k is almost impossible, and that 23 or 25k makes much more sense. You'll just rather believe your own amateurish TA. That's weird.

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@vinc3nc lol I'm done talking to you. Apparently you don't think for yourself and only parrot information "experts" tell you and you believe it like its a religion, ok.

You're in denial and afraid my predictions might be correct lmao

I really don't care who's right or wrong honestly, why do you have to try to convince me so hard that the "experts" are right?

Conversation over, stop bumping this thread


"Intellectual growth should commence at birth and cease only at death." - Albert Einstein

 

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@7thLetter yeah, it's better we stop talking here. I tried to make you better understand how market cycles work. But you're too stubborn to listen to me.

I'll reply to you here in a couple of weeks when the price is much higher, so that you will see how stupid your 10k prediction was.

Edited by vinc3nc

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