Bitcoin a sequence of bubbles / the never ending bullruns
Above you see the dogecoin / btc weekly chart from 2015 until 2019.
Interesting to see is that once and a while a bubble is popping out (mega bull run) from nothing and nowhere ... then bursts (bear period). Going back to were it belongs. Same is happening with bitcoin towards real currencies like USD, EUR and YEN. It inflates and deflates. Bitcoin and any other cryptocurrency has no intrisic value and it will never have. It will stay here yes but that doesn t mean it has value. Altcoins are derivatives from bitcoin and will always be. They will always be related to eachother.
One thing is for sure, with a chart like this you can make money. In fact it is simple. You buy or go long somewhere at the bottom and wait until it inflates again and fomo kicks in then sell it back to real fiat and make some good profit. Short when you see the bubble is starting to deflate and buy back at the bottom. Most interesting and intruiging part of the story is that at the end it doesn t matter IF you are buying 10%-20% above the bottom or short from the top because you KNOW that a bubble will pop out or crash at a certain point with much more percentage. You always will make PROFIT when you have patience.
We are now in a smaller bubble. It can go to 9000, 10000 maybe 11000 but from there it will implode / crash again. With some knowledge about behaviour of bitcoin and its children, indicators you can try and guess were the top and the bottom is. Not always easy but I am learning here in crypto.
Even with the bull run at the present, I think we are still in the BIG bubble from 20.000 USD and correct further to around 1000 within a year or 2. Now a subtop is created. I believe it can still go to 10000 or 11000 and run out of steam.
I started with crypto in 2018 and like most of us believed in crypto. Being a hodler for several months. Now however after much reading I get more insight and see what the truth is. Anyway the best traders are happy that the herd / retailers are moving the price up and down. It makes crypto very volatile and interesting to trade.
Hope you guys enjoyed the reading. Please hit the like bottom!
Interesting to see is that once and a while a bubble is popping out (mega bull run) from nothing and nowhere ... then bursts (bear period). Going back to were it belongs. Same is happening with bitcoin towards real currencies like USD, EUR and YEN. It inflates and deflates. Bitcoin and any other cryptocurrency has no intrisic value and it will never have. It will stay here yes but that doesn t mean it has value. Altcoins are derivatives from bitcoin and will always be. They will always be related to eachother.
One thing is for sure, with a chart like this you can make money. In fact it is simple. You buy or go long somewhere at the bottom and wait until it inflates again and fomo kicks in then sell it back to real fiat and make some good profit. Short when you see the bubble is starting to deflate and buy back at the bottom. Most interesting and intruiging part of the story is that at the end it doesn t matter IF you are buying 10%-20% above the bottom or short from the top because you KNOW that a bubble will pop out or crash at a certain point with much more percentage. You always will make PROFIT when you have patience.
We are now in a smaller bubble. It can go to 9000, 10000 maybe 11000 but from there it will implode / crash again. With some knowledge about behaviour of bitcoin and its children, indicators you can try and guess were the top and the bottom is. Not always easy but I am learning here in crypto.
Even with the bull run at the present, I think we are still in the BIG bubble from 20.000 USD and correct further to around 1000 within a year or 2. Now a subtop is created. I believe it can still go to 10000 or 11000 and run out of steam.
I started with crypto in 2018 and like most of us believed in crypto. Being a hodler for several months. Now however after much reading I get more insight and see what the truth is. Anyway the best traders are happy that the herd / retailers are moving the price up and down. It makes crypto very volatile and interesting to trade.
Hope you guys enjoyed the reading. Please hit the like bottom!