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Epic Pennant on BTC Chart


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5 hours ago, Troote said:

How is the line doing? 

Sorry, too easy. ;P

Has broken the pattern (lower trend line) that has held up till now. My guess is that it will either consolidate sideways for a while before moving up again or it will break down to a lower support. That said, nothing is a guarantee which I think we would all agree on. 

Edited by Pterolycus
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2 minutes ago, RipMcGillicuddy said:

Like the stonks market for the last 12 years

Equities has utility to back it up. Growth of economies, services, utilities etc. The prices and market cap can be better substantiated. 

 

Do not draw comparisons between equities and crypto. That's just silly. 

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34 minutes ago, RipMcGillicuddy said:

Oh, I guess equities are reasonably valued in 2021 then, after a decade of trillions pumped into the market by the Fed...silly me lol. 

Sure equities are not reasonably valued and yes the money printing pumped up the valuations, but that money went into crypto too. The speculative part of valuation in equities largely limited (say between 50% to 300% on an average across the entire market) except may be in case of meme stocks (like TSLA, GME, AMC, etc.)

With crypto, the difference in valuation is practically infinity. Almost every asset in crypto is pure speculation. It's not a valid comparison at all, IMO.

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37 minutes ago, RipMcGillicuddy said:

Oh, I guess equities are reasonably valued in 2021 then, after a decade of trillions pumped into the market by the Fed...silly me lol. 

There are many proven papers and methods to calculate the value or reasonable value of stocks. I'm not denying the influence of central banks, but cmon. Don't come here with some generic redditor mentality by drawing comparisons of crypto with equity. It's childish. 

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32 minutes ago, Ripley said:

With crypto, the difference in valuation is practically infinity. Almost every asset in crypto is pure speculation. It's not a valid comparison at all, IMO.

What is more artificial than a federally constructed backstop to protect the prices of equities from crashing too far? Certainly not a market which has no backstop, no buy-back schemes, no automatic purchases by The Fed...say what you want about speculation, but it's a market that is allowed to crash, burn and thrive naturally. 

Anyone who claims they know the real value of equities after 20 years of accommodative policy has muddied those waters is just blowing hot air.  

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17 minutes ago, RipMcGillicuddy said:

Well I guess we can color you both surprised when the next 50%+ correction occurs in equities. And who tf are you to call me childish with your head buried so far beneath the sand?

You're mixing so many elements here to fit a narrative.

I never said the equity markets are invincible to corrections.

Prices go up and they go down, like I mentioned.

The equity markets overall have been following an upward trajectory and it seems you think it's all down to helicopter money. Whilst that might be true (since the financial crisis),  i haven't disputed that. The fact remains, that you can value stocks with a greater certainty than crypto i.e. there are genuine fundamentals.

I've stated that Equity markets going up aren't all to do with the money supply but rather genuine companies producing goods and services (which did need a catalyst of money supply shocks stemming from 2007/2009 etc). 

If you break down what the Equity markets are composed of, it is literally, for the most part, companies that you use are using on a daily basis i.e. real CONSUMPTION.

That consumption/utility can be valued by a variety of methods since you're exchanging something monetary for something diminishable (generally speaking).

for 99.9% of Crypto that is not the case. 

Hence, comparison Crypto to the stock market is by no means an apple to apple comparison.

Edited by NMNR
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