Eric123

Bollinger Bands continue to move sideways. Normally we the price doesn't flatten out like this for more than a week or so but with the end of the year coming up and some possible tax loss selling left to be done I wouldn't expect any big moves up before the end of the year but hey we all know it does it's own thing.

@Plikk it's all probabilities and sometimes the price action surprises. Though I still have no doubt bitcoin will retake it's ATH in 2020 and most likely before the halving in May.

I don't think Bitcoin will necessarily drop at all. We can move up from here without dipping any further. Honestly, that so many people think it will drop makes me think that it won't.

@Plikk Most chart analysts that I've seen on Twitter and Youtube are calling for drop to $6k or high $5k's before a move higher. They seem to subscribe to the philosophy that "you have to go down to go up." as stated on Veep.

And once again the tension continues.

No.

Well we've begun to move sideways. Bollinger bands are flattening out. On the bearish side the 100 Day EMA has crossed the 200 Day EMA to the downside (death cross). Last time this happened was June 2018 which was basically during one of the worst collapses which lasted for another 10 months. On the plus side we are one day closer to the halvening.

Feeling bored with the market. The price keeps bleeding down. But I'm itching to buy more bitcoin. Hmmm maybe just a small buy.

Well the bleed continues - the bollinger bands are tightening. Building to a big move. Will we break out of this downtrend or will the pundits calling for $6k be proven right? - Time will tell. @WarChest I don't know what chart the author of the article is looking at. The Weekly is not making a golden cross on my chart.

Low volume weekend sideways action and today is shaping up to be the same. At least it didn't break down to $6k as some were predicting. Bollinger Bands tightening. Looks like some more tightening before the big move. I expect most tax selling already happened so at least that is out of the way.

Not looking so bad. A measly $2k run would get us out of this down channel.

@ripplewaytogo usually it's the guy that does the gambling. Anyway I never tell my wife what I'm doing with crypto. She wouldn't want to know. But absolutely I believe this will be way over 86 cents in the next bull run. I don't plan on selling for anything less than $10 US. @KevClem the circulating supply of XRP is under 44 Billion. at .20. a transfer of $9 billion is impossible. To have the liquidity to perform large transaction the market cap of XRP has to be many multiples of the amount transferred.

Bart Simpson reversal yesterday, but we're over the trend line at the moment. Interesting price movement, even if I didn't have money at stake I'd still be curious to see where this ends up.

Well this move was right on time. Hopefully we can make some progress here and at least turn this trend line into support. @baobeiiiii I'm not sure that miner profitability is the bottom of the market. Since derivatives are now so prevalent - and you no longer need to own bitcoin to sell bitcoin there really is no price floor. Besides when mining becomes unprofitable and miners shut down, difficulty is adjusted and the remaining miners become profitable again. The futures market has overcome the scarcity of bitcoin by essentially creating an infinite supply of bitcoin. Eventually if bitcoin does become the new system I expect that a lot of this fake (fraudulent) trading - ie CME - Bakkt - will become less popular as institutions and individuals will want to hold their own coins and the inflation and hypothecation and re-hypothication of the same coins will not happen as frequently. 18 million bitcoin have been mined. 4-6 million have been lost 11.5 million bitcoin haven't moved in over a year. https://www.ibtimes.com/bitcoin-holders-havent-moved-over-11-million-btc-2018-2877915 (this would include the lost ones) 1,800 are mined a day Yesterday - Over 2 million bitcoin traded!!!!! How does mining even fit into the trading if 1,000X the daily amount mined is traded??? where are 2 million bitcoin a day coming from when there are only 6.5 million tradeable bitcoin in existence?? Is the entire supply turning over every 3 days?

At the moment we are getting a pause in the bleed on low volume. A lot of people were making a big deal of the Monthly MACD bearish cross which just happened, weekly MACD has been bearish since Aug 19, 19 and daily MACD as can be seen below just turned bullish. We've been bumping up on the underside of the trend line since November 4. Looks like tomorrow or next day could be interesting.