RE: Bitcoin (BTC) Morning Update: The Sellers Are Weakening!!
Great observation for a first post !
What sort of trend change - you mean that in a World of booming stocks and rising public interest, crypto will now be a bear market for likely the rest of the year ?
Or maybe not crypto but just Bitcoin, because of what ?
Or are you just saying that we're in a sideways market since 3 weeks, and that the bitcoin brand has been successfully damaged and needs to be damaged more ?
Because that is what has indeed happened, Bitcoin/Bitcoin Cash insiders have effectively damaged their brand, and now people just hesitate buying the coin because this entire business depends on TRUST. Bitcoin was the racehorse in the market and now it isn't.
Grave depletion of trust because of naysayers who gave it poison when it stumbled.
It's humans who make "economy", it's a game they play among themselves, so they are responsible for its ups and downs, and when they INSIST on haven a "reversal", they can have that of course...
While @haejin here is doing the opposite with his posts, but then he's not on cnnbc or other shill channels the sheeple prefer listening to.
In a more serious vein, I have to point out that "seller weakening" really is an excellent buy indicator, one of the best.
nice post. I agree with the greed of the people behind BTC and all the forked versions, and i cant wait until alts are decoupled from BTC.
With that said there are just as many sheeple following haejin. People have lost a ton the last two weeks because they are blindly buying his alt recommendations. Well if alts follow BTC and BTC looks to be dropping with all the news, then why post about buying alts? heck even his own TA suggested that possibility. I sold out most of my coins to fiat after the fake rumors about korea and warren buffet comments. Because stuff like that causes fear, which causes selling.
So now most of his new followers are probably down a good 30% or more, and they bought my sell orders. I am now waiting to buy back at significant discount. So who are the sheep exactly?
I've sold my coins several times over the last months, and rebought at better price. problem is, if the 1% (China officials or Buffet) keep proving their higher intelligence to the sheeple in such an antisocial manner, the market will be dead soon, and in their hands. This is obviously their motivation, and it works like a charm. I have explained it over and over, but sheeple read positive posts ONLY because it pleases them more.
I've long held that this is exactly the way evolution works and the idiots are shaken out, as they cannot follow abstract reasoning. The real problem is that the Elites somehow seem to think they need to keep idiots around and even dumb them down some more via migration, to keep selling them gadgets, like tiger oil against impotence or mega headphones etc - which proves that they're not really that far apart.
Humans are all sheep of course. They're buying themselves here, and cheating on each other. They've been cheating on the entire biosphere for so long that they cannot do anything else, they evolved that way, it was a huge success and guess what's coming up now ;)
Well I am glad you can think for yourself, know when to buy and sell and take everything into consideration, we need more people like that.
I agree and that was my point, the sheep are not just following the warren buffets, the jamie dimons, but there is the opposite of that spectrum on here where people think everything is going up, we are all going to be millionaires. Now the hammer is coming down, but people only following haejin alt postings were thinking its all rainbows and gum drops.
That's the folks I mean... the Jubels - the other half are right now thinking too much, like bees who all fly away from their hive and then stare in from outside shocked, saying "there's nobody inside that hive but a few drones, something must be wrong with it" ;)
It's amusing really how this herd animal mentality works. An individual doesn't have much chance to evade it.
This is actually a great chance to see these things on display, we may all turn into crypto-anthropologists soon...