Where to next for Bitcoin?
Hello bitcoiners,
I would like to share this link with you and talk about it: buybitcoinworldwide.com/volatility-index/
This is the volatility index for bitcoin and if we look at it, we can see the volatility is at a very low level that it frequently touches. In the last bear market, we touched this level twice (look on my twitter link in my profile page, to see clearly what I am talking about). The first time we touched, we proceeded to have a substantial drop that looks to be around 50%. The next time we touched the level, it was very near the bottom and price then 100x'd. Right now, if this bear market is going to be like the last one and it's possible, they look quite similar, then we should be ready to dump in price because we are only just touching this level for the first time. The SECOND time is when you really want to be a buyer.
Of course, my money isn't betting that this will happen exactly to plan, making money in the markets is almost ALWAYS harder than that. But, you might set aside some cash in the event that the dip does come so that you can buy it based on this indication. As far as technicals go, it's just about the strongest bullish indication there is.
With all of this said, I do want to say this: it is totally possible the bottom is in and that $5,000 won't come. I don't think it's likely, but I'm prepared for that. I haven't made a trade in Bitcoin in over 30 days because there has been no volatility for me to take advantage of. And if the bottom is in, then I WON'T catch it. That's right, I'm the only analyst you know that can't successfully buy the tops and bottoms of markets perfectly ( don't fall for scammers who say they do, TV is rife with them :) ). This said, my objective isn't to identify tops or bottoms, it's to follow a strategy that I know makes money. Right now, there is not enough volatility for my strategy to work, but if the bull season begins, and volatility picks up and I see my strategy play out, then I will buy NEAR the bottom.
Trust me, that's more than good enough.
Thanks for reading,
-YoungShkreli
I would like to share this link with you and talk about it: buybitcoinworldwide.com/volatility-index/
This is the volatility index for bitcoin and if we look at it, we can see the volatility is at a very low level that it frequently touches. In the last bear market, we touched this level twice (look on my twitter link in my profile page, to see clearly what I am talking about). The first time we touched, we proceeded to have a substantial drop that looks to be around 50%. The next time we touched the level, it was very near the bottom and price then 100x'd. Right now, if this bear market is going to be like the last one and it's possible, they look quite similar, then we should be ready to dump in price because we are only just touching this level for the first time. The SECOND time is when you really want to be a buyer.
Of course, my money isn't betting that this will happen exactly to plan, making money in the markets is almost ALWAYS harder than that. But, you might set aside some cash in the event that the dip does come so that you can buy it based on this indication. As far as technicals go, it's just about the strongest bullish indication there is.
With all of this said, I do want to say this: it is totally possible the bottom is in and that $5,000 won't come. I don't think it's likely, but I'm prepared for that. I haven't made a trade in Bitcoin in over 30 days because there has been no volatility for me to take advantage of. And if the bottom is in, then I WON'T catch it. That's right, I'm the only analyst you know that can't successfully buy the tops and bottoms of markets perfectly ( don't fall for scammers who say they do, TV is rife with them :) ). This said, my objective isn't to identify tops or bottoms, it's to follow a strategy that I know makes money. Right now, there is not enough volatility for my strategy to work, but if the bull season begins, and volatility picks up and I see my strategy play out, then I will buy NEAR the bottom.
Trust me, that's more than good enough.
Thanks for reading,
-YoungShkreli
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