Jump to content

automatic

Silver Member
  • Content Count

    1,391
  • Joined

  • Last visited

5 Followers

About automatic

  • Rank
    Veteran

Recent Profile Visitors

The recent visitors block is disabled and is not being shown to other users.

  1. ...meanwhile, in the land of people who actually understand international finance:
  2. Aye, I'm still in denial about absence of a bottom retest. I might have even turned salty if it weren't for the magical healing powers of an increasing account balance. But yeah, Eric called it right for sure.
  3. Something tells me that Cameron and Tyler are not exactly xrp fans.
  4. There is nothing assumptive about that foundation. Pricing is based on emotion and human behavior, and human behavior (and in particular the herd behavior) follows specific patterns. This is the reason that market cycles exist, and the reason that price movements exhibit fractal behavior. Historical xrp price chart is more than simply a plot of price over time: it is a record of how the herd collectively responds to xrp given strengthening fundamentals and the passage of time. This is the very reason that I posted that specific chart; given everything that is going on at the moment (IMF meetings, adoption gaining traction, 18 months of excellent news with zero price impact) combined with the current price and historical behavior, I think that odds for a repeat are more than just good (actually, I think that everyone should print that chart out and post it above their beds, but that's just me). And yes, it is always good to be cautions as there is much TA fluff out there. This chart is not in that category IMO.
  5. I posted this in the Zerpening club a while ago; it is a log chart by Strictly posted on TradingView and reposted by Kavbata around here somewhere. This provides some good historical perspective; our current trading range is 25c-65c, but the projected top range of the long term log channel given the current wave is $50+. So yeah, $36 seems in the ballpark.
  6. I'm a firm believer in double-bottoms as well, but given everything that is going on I suspect that a repeat of July-December 2013 price action is more likely.
  7. haha who answered "ripple froze my xrp?' Is that kinda like "the dog ate my homework?"
  8. I see you, and I raise you one: https://www.theblockcrypto.com/tiny/u-s-congressmember-calls-for-bill-to-outlaw-cryptocurrencies/ To the stone age!
  9. First and foremost - I think that the current btc price climb is nothing more than filthy price manipulation. Now that I got that off my chest - I think that you guys are too close to crypto to look at this from the perspective of a clueless retail investor and/or may be thinking a bit too small. The average person does not follow the news nor do they follow BTC prices; to them BTC at 3k or BTC at 9k is still BTC in single digits. Get BTC into double digits, and they slowly start paying attention. The average casual crypto investor also got badly burned in the 2018 crash. In order to get them to jump back in, BTC price must be high enough to erase their previous pain, revalidate their old notions of BTC growth, and make them feel like a dummy for selling during the 2018 crash. 30k. This is the magic number where BTC is in double digits, BTC is no longer "down", and everyone not in BTC is a complete dmbass. Retail FOMO starts at 30k and ends between 80-100k (or when FinCEN / NYAG bust finex and Tether - whichever comes first). Optimal manipulation sequence of events as I see it: - Dump everything and push btc up (now) - Break BTC through 7k. Analysts collectively j1zz their pants while confirming the trend reversal. - Break into double digits. News coverage picks up, people start noticing. To regular people BTC is however still "down". - Break ATH and advance into 30s. Self-fulfilling TA/BTC prophesy. New batch of Lambos. I'm smarter than you because I got into BTC at 15k. Broad media coverage. New money jumping in. - Parabolic run to 80s. Dump the whole thing on (unsuspecting?) masses and run. Insert some periodic corrections to dump profits into alts just for good measure and to increase possible FOMO participation. Take those profits and use them to pump BTC as per above. Things are moving fast with NYAG case in the works; I'd say this whole scenario plays out before the end of the year, or possibly inside of six months. The short time window may not offer enough time for retail investors (who as mentioned don't really pay attention) to notice that BTC is going up and join the FOMO, which may prevent the full scenario from unfolding. However, if the whole legal drama can be drug out until end of year then the stage should be all set for another (completely natural and not at all manipulated) BTC ATH.
  10. Exactly. Individual risk tolerance will vary, but fwiw personally I found that stressing out about any particular investment is usually a sign that I am overinvested. This approach has served me well in crypto thus far. ...although I do wish I had been a bit more stressed out in December 2017 btw nice to have you back; gun blazing and fud destroying has been quite entertaining to watch.
  11. If there is one thing I learned in my time trading cryptos, that would be this: perception bias is a b1tch. You always see what you want to see. BTC about to go on a bull run? It's right there in front of you. XRP about to dominate the cryptosphere? It's right there in front of you. XRP price about to collapse? It's right there in front of you. Cryptomarket price collapse imminent? It's right there in front of you. Tether is a non-event because the market doesn't give a F? It's right there in front of you. Today's Binance hack was complete fraud? It's right there in front of you. CZ's handling of the hack is evidence that Binance is the best exchange around? It's right there in front of you. Different people (myself included) will have very strong opinions on each of these items; so strong in fact that they will believe them to be certain. The thing is, many of these directly oppose others, meaning that they cannot all hold true. Regardless of conviction, some of us are bound to be wrong. ...which brings me to the point of this whole post: managing risk is more important than being right, and good risk management requires realizing that sometimes you end up being wrong even when you are 100% sure that you are right. There are always good discussions to be had around here, but they should never displace risk management and DYOR. Regardless of what anyone says, if you are reading this then those two are always on you. Your money = your responsibility for research and risk management.
  12. The market looks like it is heading for a reset and I get the sense that things are going to look much more different in the not-so-distant future than they do now.
  13. That's because your future self is too busy cruising around in a drop top red Ferrari.
  14. ummmm what? We can now research in minutes, make better decisions, assemble remote workforces and collaborate/work virtually, bring solutions to the market without procuring hardware, expand business market reach to the very end of the internet, shop for the whole family without ever leaving the house etc etc etc. Increase in free time and job displacement are tell-tale signs of any "revolution" (agricultural, industrial, internet etc), and the signs are not exactly subtle. Individual workplace productivity? Irrelevant. Human productivity is nothing more than a mechanism by which businesses reach their objectives, and those same objectives are now being reached by application of technology (thus the workforce displacement). Regardless of individual productivity, internet has more than delivered when it comes to business operations.
  15. ^^ likely this, however my guess would be that the spike was due to thin alt order books with the crowds jumping into BTC.
×
×
  • Create New...