Seems Bitcoin is finally showing resistance...

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  • RangeFinder
    SBR Hall of Famer
    • 10-27-16
    • 8041

    #1
    Seems Bitcoin is finally showing resistance...
    Bitcoin has been bouncing off the 17,800 levels a few times now. That's a sign it may have topped out for a while. Not saying it will plummet but it looks like a correction is starting to take place. My guess is it will rest around the 14K level for awhile.
  • Hman
    SBR Posting Legend
    • 11-04-17
    • 21429

    #2
    What we've witnessed so far is amazing.
    Comment
    • RangeFinder
      SBR Hall of Famer
      • 10-27-16
      • 8041

      #3
      Originally posted by Hman
      What we've witnessed so far is amazing.
      Very. Probably won't see it again in our lifetime. It looks to be over for awhile.
      Comment
      • shocka1212
        SBR Posting Legend
        • 10-06-12
        • 16788

        #4
        Originally posted by RangeFinder
        Bitcoin has been bouncing off the 17,800 levels a few times now. That's a sign it may have topped out for a while. Not saying it will plummet but it looks like a correction is starting to take place. My guess is it will rest around the 14K level for awhile.
        all the futures did was create a ceiling. so its going to stay steady..
        Comment
        • Chi_archie
          SBR Aristocracy
          • 07-22-08
          • 63165

          #5
          its uncharted territory

          how can you use the trends and terms like "resistance" "levels" "bounce" ect on an animal like the infantile crypto market

          when you only have ever thought of those terms in accordance with relative dinosaurs like wall street, commidities, housing ect


          its a whole new world
          Comment
          • RangeFinder
            SBR Hall of Famer
            • 10-27-16
            • 8041

            #6
            Originally posted by Chi_archie
            its uncharted territory

            how can you use the trends and terms like "resistance" "levels" "bounce" ect on an animal like the infantile crypto market

            when you only have ever thought of those terms in accordance with relative dinosaurs like wall street, commidities, housing ect


            its a whole new world
            What I'm saying is Bitcoin has not shown these patterns before when it kept rising. If history teaches us anything, the run is over.
            Comment
            • jjgold
              SBR Aristocracy
              • 07-20-05
              • 388189

              #7
              Their moving money into ethereum and Litecoin
              Comment
              • RangeFinder
                SBR Hall of Famer
                • 10-27-16
                • 8041

                #8
                Originally posted by jjgold
                Their moving money into ethereum and Litecoin
                Maybe but unlikely, JJ. These crypto's will more than likely follow eachother so it won't matter which coin you invest in.
                Comment
                • cankid
                  SBR Hall of Famer
                  • 08-22-08
                  • 7214

                  #9
                  What a year for the cryptos!!
                  Comment
                  • Chi_archie
                    SBR Aristocracy
                    • 07-22-08
                    • 63165

                    #10
                    Originally posted by RangeFinder
                    What I'm saying is Bitcoin has not shown these patterns before when it kept rising. If history teaches us anything, the run is over.
                    yeah but "history" for the global market that is mainly fueled by computer nerds for the past 3 years

                    might be different.....


                    than the "history" of something like Wall street's 120 year journey

                    agree or disagree?
                    Comment
                    • Chi_archie
                      SBR Aristocracy
                      • 07-22-08
                      • 63165

                      #11
                      if history taught us much in foresight and especially people that like to say things like "if history tells us/taught us...." whilst in hindsite


                      than I guess many here would be sitting on like 500-5000 whole bitcoins
                      Comment
                      • Philmill
                        SBR MVP
                        • 09-30-11
                        • 4275

                        #12
                        Now with the futures market on grid...... It should be a matter of supply and demand....for the crypto's

                        be interesting to see where the demand is going to come from.....
                        Comment
                        • RangeFinder
                          SBR Hall of Famer
                          • 10-27-16
                          • 8041

                          #13
                          Originally posted by Philmill
                          Now with the futures market on grid...... It should be a matter of supply and demand....for the crypto's

                          be interesting to see where the demand is going to come from.....
                          Public money is what they're looking for.
                          Comment
                          • RangeFinder
                            SBR Hall of Famer
                            • 10-27-16
                            • 8041

                            #14
                            Originally posted by Chi_archie
                            yeah but "history" for the global market that is mainly fueled by computer nerds for the past 3 years

                            might be different.....


                            than the "history" of something like Wall street's 120 year journey

                            agree or disagree?
                            Agree that the markets have evolved and are different than even 20 years ago. But I think the same principles will apply, it's just going to move much faster and there will be a lot more volatility.
                            Comment
                            • Chi_archie
                              SBR Aristocracy
                              • 07-22-08
                              • 63165

                              #15
                              the mindset of the people where the $ is coming from on these projects is just soooooo much different from the Warren Buffets and disciples in our western ideas of markets.

                              I just wouldn't lean to heavy on any theories

                              besides the fact that its the cyber/global wild wild west

                              and we never know when the next bunch of wild bill's, Wyatt Earps, billy the kid's, Butch Cassiday, or a bunch of texas marshall's or US Army are gonna come through and totally change or shut down the whole playing field. all of which are prob 7 years old right now in India or some other asian country learning to hack on their parent's IPad.
                              Comment
                              • RangeFinder
                                SBR Hall of Famer
                                • 10-27-16
                                • 8041

                                #16
                                Originally posted by Chi_archie
                                the mindset of the people where the $ is coming from on these projects is just soooooo much different from the Warren Buffets and disciples in our western ideas of markets.

                                I just wouldn't lean to heavy on any theories

                                besides the fact that its the cyber/global wild wild west

                                and we never know when the next bunch of wild bill's, Wyatt Earps, billy the kid's, Butch Cassiday, or a bunch of texas marshall's or US Army are gonna come through and totally change or shut down the whole playing field. all of which are prob 7 years old right now in India or some other asian country learning to hack on their parent's IPad.
                                That is the main concern

                                Can they make it safe free of corruption and manipulation?

                                Right now they have not proven so
                                Comment
                                • jjgold
                                  SBR Aristocracy
                                  • 07-20-05
                                  • 388189

                                  #17
                                  Both have moved over 200 percent the last five days

                                  Originally posted by RangeFinder
                                  Maybe but unlikely, JJ. These crypto's will more than likely follow eachother so it won't matter which coin you invest in.
                                  Comment
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