WE ARE GOING DOWN TO 5K

This is the perfect time to short
I am 3x all in
liquidation price 8800

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Screen shot of your fucking position you larping fuck.

>he actually makes investment decisions based on drawing lines on a graph

good lord you're an imbecile.

I love how you TA fags draw lines to match your predictions disregarding the actual state of things

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and water is wet, fire is hot, and 2+2=4

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prepare to drink some bull cum OP. you are going to be surprised.

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LOL this

This is the most convincing graphic I've ever seen on Jow Forums, good show.

Everyone always likes to point to this, but almost ALWAYS fail to see that in the 2014 run up there were TWO significant peaks.

If you're going to argue from a historical perspective you'd realize that the 2013 peak hits the 1 fib line and the 2014 peak hits the 1.382. The 2017 run hit the 1 line and the 2018 will hit the 1.382 before dropping into 2019.

If you follow that trend line.. we're hitting 200k end of year.

And as a quick follow up, that does not mean we won't see 5k. The market isn't reversing on the SEC news, sorry. We're going to see 5.5k or so for a wyckoff spring.

Then institutional FOMO will set off a massive bull run.

Thank you.

Yep.

These Always Bulls are fucking stupid.

>200k

You people are gonna get so rekt.

We are closer to hit sub 1k levels than ever. You don't even understand how broken Bitcoin fundamentals are.

so you're saying if I hold at least 1 bitcorn I'll make it by 2023?

>Institutionals fomoing to buy 200,000 % inflated speculative assets.

lol

You're confusing me using his own logic on his chart to show why he's wrong with my position.

I don't think we're hitting 200k this year.

every institution that wants to be in the game is already here you retard. do you think those guys are fucking brainlets like the people here?

There is literally not a single penny in crypto in the form of ETFs, pensions, or in regulated index funds.

You really have no idea what's coming, do you?

inflation plus more QE over those years and all you will be able to do with a million american dollars will be rent a 500 sq ft studio apartment for a year in nyc or buy a new chevy four door shitbox

keep telling that to yourself. maybe there will come more institutional money, maybe not. fact is that institutions can and do already invest in crypto. big money doesn't need an fucking ETF or whatever.

Do yourself a favor and don't get caught on the sidelines.

Snap
You never learn

don't worry, I monitor the market every day. I'm convinced that we're in a similar situation as in 2014, but we're moving at a faster pace. we will probably see sub 5k and play out the scenario in OPs picture. I don't make my decisions based on "instutional money" that will "FOMO". maybe that will happen, maybe not. the chart tells me everything I need to know. I'm fine with bitcoin going to 100 or 100 million.

>comparing btc situation in 2014 to 2018
the absolute state of /biz newfags

you're probably fine at 3x with 8800 liq price, but a short term reversal is playing out right now, I could see the bounce continuing to as high as $8K in the following week or so. $5K is definitely coming though, and then $3K.

You stupid faggots with your, "DERR WE HAVE TO TEST 5K AND 3K AGAIN DERRRRR". Theres literally no reason, the new bottom is 6k you stupid nigger. The cost to mine a bitcoin when it bottomed at 3k was guess what, 3 FUCKING GRAND, guess how much it was the first time it dropped to 5k, 5 FUCKING GRAND NIGGER, SEE THE PATTERN FAGGOT?

>Fayyad published on Tradingview
>Fayyad

that's a meme. mining costs are different in each country. you can only prop up a market for so long, check out the trade soros is famous for. fucking cuck.

cost to mine for the larger operations (vast majority of hashrate) is about 3 FUCKING GRAND per coin right now actually

"Fundamentals don't really matter, cost of mining included. Just focus on the charts, use your moving day averages on the 50 day or 20 day and Bollinger bands. Money markets don't care about transaction time, protocol, or mining cost. Don't sink to the FUD here guys, trust technical analysis, it's worked for dozens of years and it won't stop working today." -datadash

mining costs are different in each country, yes, and already electricity in most areas of the world is too expensive to mine at a profit. miners that are set up in areas where electricity is cheap are the exception to most of the world, and it is in their best interests to use this to their advantage. in the case of mining companies that manufacture hardware to sell to the public, it is even more in their interests to keep the price of bitcoin high.

Slow drop to 4k EOY

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Hey everyone, want to know how to get rekt? Step1: Draw lines and curves on a chart and believe you've predicted the future based on the past, while ignoring the completely different fundamentals of today.
Step 2: Invest heavily based on your chart.

I see many in this thread are already following this two step process to getting rekt.

Thank you for you opinion, now would you kindly go back to the Doug Polk YouTube comments section community you came from.

TIME TO BUY

no, time to increase my short position

you getting nervous?

nice

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