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STR SHORTShorting stellar margin on poloniex saw a nice setup for a b to c leg in this bull trap (now that bitcoin is headed to test 8000$ i'm expecting a lower low in many coins I am mainly buying all this panic but Stellar still has a good risk to reward ratio for shorting so i'm shorting for the next few days or so down to the bottom of its 1 wave) Big picture this is just a 4 wave so STR has a lot of upward movement left but for now we need to see lower lows to test its 1 wave .
SShort
by High_Altitude_Investing
4
BTC and it's grim futureIn my initial prediction of BTC price, I thought it would have more upswings on its long trend down. As it plummets with runs back up few and far between, I chose to revise my idea. If you read my last post, you know I don't think there's much value to Bitcoin, primarily because there's little to nothing that gives it any real value, as well as it not really solving any issue that online platforms for transfer of traditional currency can't. If you choose to short BTC (which you can; www.investopedia.com), I think you've made a good choice, first and foremost. However, it certainly isn't risk free. As it falls, it's likely to have buybacks that push the price up. It's also unpredictable, it rose to 20k on the basis of very little, so it could pop back up for no apparent reason as well. Good luck. I myself choose to stay away from cryptocurrencies due to their high volatility and nature of of unpredictable drops and pops.
COINBASE:BTCUSDShort
by KristianB12
Which occurrences determine the price of Bitcoin? Why is that pressure on the price of Bitcoin? What is the reason for the huge drop in the price of Bitcoin? Why is the correction such excessive? Let’s have a look on the two main influencing variables. Criminal activities in the milieu of Bitcoin. Governments worldwide seized Bitcoins worth more than 3.8 billion USD . They started to sell this huge quantity of coins, which makes a huge pressure on the Bitcoin’s market value. The calm before the storm. Like on any other cryptocurrency with a fixed number of coins, there exists a relation between the number of Bitcoin users and the price of the Bitcoin. As the price of a coin increases with a growing number of users, a cryptocurrency has no inflation on the long term. With a fast growing community, the price of the Bitcoin knew only one way: up, up and up like a rocket. However, things are changing to the bad right now. For several reasons, the number of Bitcoin users will rapidly shrink on the short and middle term. Because of the relation between the number of users and the price of the coin, we will see a fast drop in the price of the Bitcoin and it will not recover from the low price on the short term. Please read the full, very detailed story here: achieve-your-goal.com Technical analysis After a sharp drop from 17174 down to 9005, the price is consolidating right now. The consolidation range may go up to the red dashed line at 12787. Above that line, a lovely bullish scenario of riches and wealth is waiting. However, will the price of Bitcoin achieve to regain the bull-trend and go towards 22500 and 24000? It is more likely that Bitcoin fails to break that red dashed line and remains in the bear-trend. If this is the case, after testing the level of 12787, a sharp drop in the price down to 5568 will follow. I personally think that it is a good idea to sell Bitcoins during this current consolidation phase and avoiding a huge loss. Disclaimer I sold all my Bitcoins and I will rebuy them once the price of the Bitcoin will be below 6000. I publish my personal opinion and not a trading recommendation. It may be that I change my mind without an announcement. Everybody has to take his own decisions and is responsible himself for his trades.
COINBASE:BTCUSDShort
by luckyhelper
1
Key reasons for another drop in the price of the Bitcoin.No transaction fees, enabling micro-payments and micro-donations is what made Bitcoin so popular. Bitcoin is an electronic crypto-currency not tied to any financial institution, which enables you to make international transactions outside of the banking system. Some big chain of stores are thinking about accepting Bitcoins on the checkout. These are the main reasons, why the price of the Bitcoin skyrocket. As the maximum number of coins is specified, the price of the Bitcoin has to rise the more people make use of it. However, during the last months, Bitcoin transactions became very slow and all of a sudden, high transaction fees have to be paid. It is obvious that the Bitcoin network cannot handle anymore the high workload. It is even questionable whether Bitcoin can hold as the number one coin if it fails just in these important characteristics. Additionally, 78% of the computer power of the Bitcoin network is located in China. China wants to ban Bitcoin mining and verifying because of the high consumption of electric energy. Depending on the speed of realizing that plan of banning mining, this can temporarily lead to an additional bottleneck in the Bitcoin network. It is foreseeable that more and more people will elude Bitcoin and turn towards other coins. Once the number of people using Bitcoin will erode, the price of the Bitcoin will collapse. There are enough alternative coins available with transaction speed increasing the more people make use of them. Just to name such coins Ripple, Dash, Tech coin (coming soon) and Futurocoin (coming soon). Cryptocurrencies have a bright future. However, it is very unclear if Bitcoin is one of them. There are enough key reasons for another drop in the price of the Bitcoin. Up or down? The decision will be made in these days. Technical analysis. The big picture are two triangles. The major, dark triangle lets us expect an outbreak to the upside at point 5. However, there is also a minor, light-grey triangle and the price of the Bitcoin did just outbreak on its downside at point v. It will test the downside of the major triangle again. Any price below the red line at 12787 will turn the overall scenario into bearish. Should the bearish scenario be confirmed, the price might drop as far as 5568.
COINBASE:BTCUSD
by luckyhelper