When my predictions come true I bask in my own glory! 🌞😇🌟👏

I tell everyone how great I am and how right I was. I praise my intelligence, my insights and by abilities. Much like this.

Now I may be an incredibly arrogant person, but I'm an honest arrogant person.

So when I make a mistake, and it's a clear mistake, not just a little misunderstanding or something that is open to interpretation; then it's only fair that I own up to my mistake.

From http://acelexx.com/2018/05/29/litecoin-price-prediction-charlie-lee-sweeps-hodlers-off-their-feet-with-3-big-surprises/ - modified by @bitbrain

Correcting my errors

In the immortal words of Britney Spears - "Oops, I did it again". Okay, she's a pop star, which means that the real talent behind the scenes writes the lyrics for her, but you know what I mean. They also write the music for her. No wonder I despise pop... But I digress!

I called the bottom ...and hit ...and missed

I called the pullback three weeks ago. I was happy with having called it. Then I projected a timeline for it, this was a couple of days after predicting the pullback and I also set a target turnaround price for it.

And the pullback happened - and I told you all how right I was;

And then the market hit the bottom, right on time - and I told you all how right I was, again;

And it turned right at the price level I said it would - yeah, you get the picture. No prizes for guessing what I told you.

And then the market forgot that I had told it to turn and crashed to a market cap of $303 bn on Monday morning (this morning). This was three days later than I said the bottom would be and $7 bn lower. It was also after I said the pullback had concluded and that prices should rise.

I was wrong! I own that mistake. It was mine and mine alone. I'm sorry.

Look, I'm still an arrogant guy with lots of brains and little common sense, so I'm still going to point out that what I consider wrong is what most others would consider "a damn good guess", especially over that time duration. But I judge people to high standards, I have a sharp tongue and I'm quick to admonish those whom I perceive to be wrong. In this case that "wrong" person is me. I deserve the criticism because if it were someone else in my shoes, then I would be criticising them.

"It doesn't matter if you win by an inch or a mile, winning's winning."
~Vin Diesel playing Dominic Toretto - The Fast and The Furious

The same applies to making a wrong call in trading.

But that's not all I've done wrong lately...

Yesterday I wrote this post about Litecoin. In it I described how old Litecoin was not really needed any more and how it would slowly slide away into obscurity. I mentioned how it had no new tricks up its sleeves, how it was a pure currency and nothing more and how it had not achieved vital product differentiation.

It's as if Charlie Lee himself read my post and thought: "I'll show that arrogant **** what my coin can do!" Because today we now have this LTC news. (I mean, seriously, what are the odds of that happening?)

To save you the trouble of a mouse click, I'll share the juicy bits with you:

Headline: "LITECOIN PRICE PREDICTION: CHARLIE LEE SWEEPS HODLERS OFF THEIR FEET WITH 3 BIG SURPRISES"
Oh boy, not looking good for Bit Brain.

Contents:

Litecoin’s transaction speed is about to get a nitrous oxide boost. This digital currency may soon be processing as many as a million transactions in a second.

Litecoin’s next upgrade with lower fees is coming down the pike as we speak.

And the coup de grâce:

...a decentralized crypto-cum-fiat currency investing application has just been launched on Litecoin.

KABOOM! That's the sound of Bit Brain's post being blown to pieces!

Yeah it's not the end of the world, and yeah I couldn't have known. But I said it, and I was wrong. End of story.

Spare your pity for someone who needs it more than I do

Don't worry about me, not for a second. Don't worry about my hurt feelings, my bruised ego or my jilted confidence. I'll bounce back quickly, probably too quickly.

I'm not after the: "oh he's so honest - good for him for admitting when he's wrong" or the "other crypto guys never point out their mistakes" comments. This is not me fishing for compliments.

This is me saying that I ****ed up, that I'm sorry I did, that I have my reasons and excuses, the errors may not have be mind boggling in scope, but I am still wrong and I have only myself to blame for that.

Conclusion

I'll be back as strong as before: opinionated, arrogant and still making predictions. I can't change my nature 😀.

As for the market, well I hope that we hit the real bottom of the pullback this morning. It does look like it, more so than when I called it the first time! Volume is shooting up and the final dip and rapid recovery are much more like I expected them to look (I was worried that the Thursday dip and recovery didn't look severe enough). But to avoid further egg on my face (I've already eaten dinner this evening thanks), I'm going to refrain from definitively stating that we hit the bottom today (even though we did 😜).

And as for Litecoin, well... ...buy Litecoin?

Enjoy this moment of Bit Brain wrongness, they are few and far between. Remember: once the market really get's going I'm going to be saying "I told you so!" a lot and I'm going to get really annoying! Take this opportunity to kick me now while I am down!

Yours in crypto,
Bit Brain

DISCLAIMER:
I am neither a financial advisor nor a professional trader/investor. This is not financial advice, investment advice or trading advice. Unless otherwise stated, all my posts are my opinion and nothing more. Crypto is highly volatile and you can easily lose everything in crypto. You invest at your own risk! Information I post may be erroneous or construed as being misleading. I will not be held responsible for anything which is incorrect, missing, out-of-date or fabricated. Any information you use is done so at your own risk. Always Do Your Own Research (DYOR) and realise that you and you alone are responsible for your crypto portfolio and whatever happens to it.