Monitoring the Crypto Bubble

Discussion in 'Digital Currencies' started by Bullion Baron, Dec 12, 2017.

Tags:
?

Where do you think we are in the crypto bubble?

  1. Very early (years left to run)

    21.1%
  2. Around the middle (could still run for months or a year)

    38.0%
  3. Very late (could end within days/weeks)

    23.9%
  4. It's not a bubble

    16.9%
  1. leo25

    leo25 Well-Known Member Silver Stacker

    Joined:
    Jun 8, 2010
    Messages:
    3,584
    Likes Received:
    1,935
    Trophy Points:
    113
    My guess, it will either stop here or drop another 30% or more. That's what my doodle tells me.

    crypto.jpg
     
  2. 66rounds

    66rounds Well-Known Member Silver Stacker

    Joined:
    Jun 22, 2019
    Messages:
    2,987
    Likes Received:
    3,389
    Trophy Points:
    113
    Location:
    Melbourne
    Please keep sharing your doodles with us
     
    leo25 likes this.
  3. hardyakkagold

    hardyakkagold Well-Known Member Silver Stacker

    Joined:
    Mar 25, 2020
    Messages:
    1,540
    Likes Received:
    4,719
    Trophy Points:
    113
    Location:
    Deep Down The Rabbit Hole
    You, crypto cowboys, have such well-trained doodle's.

    The only thing my doodle tells me is when it's time to take a piss.;)
     
    leo25 and 66rounds like this.
  4. leo25

    leo25 Well-Known Member Silver Stacker

    Joined:
    Jun 8, 2010
    Messages:
    3,584
    Likes Received:
    1,935
    Trophy Points:
    113
    I normally charge people to see my doodle. But every now and then i flash one out for free.
     
    Last edited: Dec 4, 2021
    66rounds likes this.
  5. Millennial Engineer

    Millennial Engineer Well-Known Member

    Joined:
    Apr 19, 2020
    Messages:
    455
    Likes Received:
    414
    Trophy Points:
    63
    Do you know what caused it? I tried at my usual places and i couldn't find anything. Not even FUD news as the initiators of an event. Edit: i guess Maybe Fed talk about making the dollar stronger and There was some Charlie Munger FUD saying everything is overvalued in the papers today, not that big news imo.

    I felt it was whales at work trying to dislodge leveraged traders.

    Zero hedge just posted.

    https://www.zerohedge.com/crypto/leveraged-bitcoin-traders-flushed-out-epic-overnight-crash
     
    LiverBird and 66rounds like this.
  6. TreasureHunter

    TreasureHunter Well-Known Member

    Joined:
    Oct 29, 2012
    Messages:
    4,499
    Likes Received:
    1,182
    Trophy Points:
    113
    Location:
    Treasure Island
    Michael Saylor or Raoul Pal just cashed out on a bunch and bought an archipelago of private islands :D

    I think the correction MIGHT go deeper than 40 k.
    If we reach somewhere around 28-29 k down, then these two "big humps" Bitcoin has reached this year will mean a double-top and it can collapse down further. This is crash scenario, but just a possibility.

    Or, we might stop here.

    I really think 100 k Bitcoin is possible next year. But then, RavenCoin will hit through 1 $ and so will DogeCoin.

    Look at how well Ethereum has been holding on and the steady growth it had this year, unlike Bitcoin. Might be growing at a higher pace than Bitcoin. Also, because of it's infrastructure, Ethereum seems more promising.

    John McAfee had a number of negative remarks regarding Bitcoin, saying something like "nothing is trading in Bitcoin". I remember hearing him say Monero is more used for payment, but who knows.
     
    Millennial Engineer and sgbuyer like this.
  7. mmm....shiney!

    mmm....shiney! Administrator Staff Member Silver Stacker

    Joined:
    Nov 15, 2010
    Messages:
    18,606
    Likes Received:
    4,392
    Trophy Points:
    113
    There's support at the $40K mark and even stronger at the $30K mark, have a look at the wick overnight, someone scored a bargain and it usually indicates a reversal.

    [​IMG]
     
    Millennial Engineer likes this.
  8. alor

    alor Well-Known Member Silver Stacker

    Joined:
    Jun 16, 2011
    Messages:
    12,102
    Likes Received:
    3,877
    Trophy Points:
    113
    its going back to 25k
     
  9. LiverBird

    LiverBird Well-Known Member Silver Stacker

    Joined:
    Jul 14, 2019
    Messages:
    481
    Likes Received:
    571
    Trophy Points:
    93
    You've as many predictions as a newspaper psychic :D

    Regarding "nothing is trading in Bitcoin"; Bitcoin is a wealth generating asset.
     
    Ivykoin and 66rounds like this.
  10. heartastack

    heartastack Well-Known Member Silver Stacker

    Joined:
    Sep 2, 2010
    Messages:
    2,649
    Likes Received:
    3,019
    Trophy Points:
    113
    Location:
    Melbourne
    that cluster of volume to the left are the holders that will panic @ under 40
     
  11. TreasureHunter

    TreasureHunter Well-Known Member

    Joined:
    Oct 29, 2012
    Messages:
    4,499
    Likes Received:
    1,182
    Trophy Points:
    113
    Location:
    Treasure Island
    ^
    So it's going up?

    s
    Bitcoin is a trust-trading digital trinket. A hope-based rich-maker.
     
  12. mmm....shiney!

    mmm....shiney! Administrator Staff Member Silver Stacker

    Joined:
    Nov 15, 2010
    Messages:
    18,606
    Likes Received:
    4,392
    Trophy Points:
    113
    I’ll see if I can drag up some data shedding light on who some of those buyers may be.
     
    heartastack likes this.
  13. heartastack

    heartastack Well-Known Member Silver Stacker

    Joined:
    Sep 2, 2010
    Messages:
    2,649
    Likes Received:
    3,019
    Trophy Points:
    113
    Location:
    Melbourne
    More like who wasn’t buying ?
     
  14. mmm....shiney!

    mmm....shiney! Administrator Staff Member Silver Stacker

    Joined:
    Nov 15, 2010
    Messages:
    18,606
    Likes Received:
    4,392
    Trophy Points:
    113
    All I can look for is new addresses formed and see if there is any correlation with increasing volume in an attempt to work out if it’s new players only or existing holders adding to their position

    Edit to add: or a combination of both
     
    Last edited: Dec 5, 2021
    heartastack likes this.
  15. alor

    alor Well-Known Member Silver Stacker

    Joined:
    Jun 16, 2011
    Messages:
    12,102
    Likes Received:
    3,877
    Trophy Points:
    113
  16. TreasureHunter

    TreasureHunter Well-Known Member

    Joined:
    Oct 29, 2012
    Messages:
    4,499
    Likes Received:
    1,182
    Trophy Points:
    113
    Location:
    Treasure Island
    Is the crypto market full of pennant formations (a strongly bearish formation characterized by a "narrowing triangle tip" towards the right side)?

    Stellar and Raven show this pattern, but not Bitcoin and not Ethereum.

    I can also see the pennant forming on gold's chart, if I take a glimpse at it.
     
  17. 66rounds

    66rounds Well-Known Member Silver Stacker

    Joined:
    Jun 22, 2019
    Messages:
    2,987
    Likes Received:
    3,389
    Trophy Points:
    113
    Location:
    Melbourne
    Here I was thinking that was bullish!
     
  18. TreasureHunter

    TreasureHunter Well-Known Member

    Joined:
    Oct 29, 2012
    Messages:
    4,499
    Likes Received:
    1,182
    Trophy Points:
    113
    Location:
    Treasure Island
    It turns bullish AFTER it goes deep enough. If I am correct, the triangle forms, as it narrows, then it takes a bearish dip almost vertically down.

    I think it is bearish, because we are only within the formation of the triangle. The bearish drop follows after it narrows down enough.

    I know little about technical analysis, but I went to a course many years ago and I remember a few formations. I might be wrong o_O
     
  19. alor

    alor Well-Known Member Silver Stacker

    Joined:
    Jun 16, 2011
    Messages:
    12,102
    Likes Received:
    3,877
    Trophy Points:
    113
    follow the trend, not your desire for it to go up
    trend says down!
     
  20. TreasureHunter

    TreasureHunter Well-Known Member

    Joined:
    Oct 29, 2012
    Messages:
    4,499
    Likes Received:
    1,182
    Trophy Points:
    113
    Location:
    Treasure Island
    I think the level is somewhere around 28 k.
     

Share This Page