April 12 is launch day
Updated
What we're looking at here is a giant W. A Big W, if you will (Aussies will get it). Bitcoin has been unsure what it's doing for too long and people are starting to get bored. On more than one occasion recently I have uttered the words "just dump already", and we can see it trying, but something doesn't want it to go there just yet - if at all. A W formation on a longer time frame is usually indicative of a launch.
When it comes to trading view ideas, I prefer those who are willing to make the call "this is what will happen" and just accept it if they get it wrong, rather than say "it might go up or it might go down". The general consensus is that it will head down one more time before going back up, and I generally agree with it, though I don't think it will go down to 5k. I think 6k might be it. I am going to provide some reasons as to why I think this rather than just go with the flow.
1. People are bored.
2. People want to buy into crypto again
3. There are a lot of other cryptocurrencies that are better than bitcoin, and some of them have the potential to take down the King and rule in its place.
4. ICOs are still in everyone's good books (mostly).
5. If bitcoin stays down then "everybody else" has won - ie the bubble has burst, crypto = ponzi, crypto has no future, etc etc.
6. Bitcoin has been moving in a reasonably strict range for about a week now and that is about as long as it lasts usually in this kind of behaviour.
7. Attempts to push it down are not working, but neither are attempts to push it up.
8. There's more money in the wider technology adoption - and now I'm going to make an outright statement:
Bitcoin is going to start going up shortly before or shortly after April 12. By shortly I mean within a week.
If I am wrong, I will take the hit. However these are my reasons:
The largest bitcoin miner in the world is Chinese.
The Chinese Government have shut down "non-compliant" businesses and exchanges.
The People's Bank of China is owned by the government.
The Chinese citizens have been chomping at the bit to get back into the market since all the regulations became more strict.
NEO is Chinese and known to be backed by the Chinese government.
Red Pulse (RPX) is the single largest marketing research platform for the Chinese consumer market.
APEX (CPX) will be the single largest blockchain primarily concerned with facilitating research and direct sales data from the Chinese consumer market for global businesses.
Both Red Pulse and APEX are Chinese companies, and both ran their ICOs on NEO.
RPX was worth around USD $0.78 in January this year.
APEX's first listing will be on LBank on April 12, which is a primarily Chinese exchange and I believe the second largest in terms of liquidity, so that it can provide its tokens first to the Chinese cryptocurrency investor market.
APEX delayed its listing for a month so that it could take advantage of "better market conditions".
Sure, I might be completely wrong, but we're getting to the pointy end of this correction now and I think it makes things more exciting when people commit to outright declarations, no matter how insane.
When it comes to trading view ideas, I prefer those who are willing to make the call "this is what will happen" and just accept it if they get it wrong, rather than say "it might go up or it might go down". The general consensus is that it will head down one more time before going back up, and I generally agree with it, though I don't think it will go down to 5k. I think 6k might be it. I am going to provide some reasons as to why I think this rather than just go with the flow.
1. People are bored.
2. People want to buy into crypto again
3. There are a lot of other cryptocurrencies that are better than bitcoin, and some of them have the potential to take down the King and rule in its place.
4. ICOs are still in everyone's good books (mostly).
5. If bitcoin stays down then "everybody else" has won - ie the bubble has burst, crypto = ponzi, crypto has no future, etc etc.
6. Bitcoin has been moving in a reasonably strict range for about a week now and that is about as long as it lasts usually in this kind of behaviour.
7. Attempts to push it down are not working, but neither are attempts to push it up.
8. There's more money in the wider technology adoption - and now I'm going to make an outright statement:
Bitcoin is going to start going up shortly before or shortly after April 12. By shortly I mean within a week.
If I am wrong, I will take the hit. However these are my reasons:
The largest bitcoin miner in the world is Chinese.
The Chinese Government have shut down "non-compliant" businesses and exchanges.
The People's Bank of China is owned by the government.
The Chinese citizens have been chomping at the bit to get back into the market since all the regulations became more strict.
NEO is Chinese and known to be backed by the Chinese government.
Red Pulse (RPX) is the single largest marketing research platform for the Chinese consumer market.
APEX (CPX) will be the single largest blockchain primarily concerned with facilitating research and direct sales data from the Chinese consumer market for global businesses.
Both Red Pulse and APEX are Chinese companies, and both ran their ICOs on NEO.
RPX was worth around USD $0.78 in January this year.
APEX's first listing will be on LBank on April 12, which is a primarily Chinese exchange and I believe the second largest in terms of liquidity, so that it can provide its tokens first to the Chinese cryptocurrency investor market.
APEX delayed its listing for a month so that it could take advantage of "better market conditions".
Sure, I might be completely wrong, but we're getting to the pointy end of this correction now and I think it makes things more exciting when people commit to outright declarations, no matter how insane.
Note
How about that. April 12. Sometimes I scare myself
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