Mid-Day Bitcoin Update - Nothing Unusual Happening

briggsy (64) in bitcoin • 7 years ago (edited)

This is a quick update just to add some sanity to what is currently happening with Bitcoin.

First of all, the market isn't suddenly doing anything out of the ordinary (yet). If you follow my daily Bitcoin Blog, you'll know that Bitcoin has been following a descending continuation trend for the past month, and as of this time, Bitcoin is still inside this trend.

While I cannot predict the markets any better than the next person, There's no reason to panic now, or at any point in the next 6 months. Bitcoin has reached its 3rd all-time peak, and now we are in a cooling off period, and that includes most of the market.

The chart speaks for itself really. I warned a couple days ago in my blog about the down wicks being a nuisance, and that's just what's happening so far.

I'm not a time traveler though, and a golden rule of market speculation is that profitable patterns generally don't repeat themselves, and if they do it's because few people are aware of them. In the case of cryptocurrency, I believe too many people are watching the 5 minute, 15 minute or 30 minute charts, and the more you zoom in, the harder it is to find trends and see any patterns.

Zoom out a little and find the trends. The further you zoom out, the more predictable the prices become. No one knows anything for certain, but if a coin flip is 50/50, you can tilt the odds in your favor by seeing the bigger patterns, almost like adding a weight to one side of the coin. you'll still lose some, but not by 50/50 chance.

if you want to be more proactive in this community, try using steemfollower (sign in is done through steemconnect using your steemit name and your private posting key - found in your wallet under permissions). This Video will explain how the program works. It is a great way to motivate you to produce great content, and to reward others for producing great content.

As always, good luck, good wealth and good health to everyone on Steemit. Stay positive towards others and help the community grow. Thank you for reading and sharing. Comments are always welcome.

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7 years ago by briggsy (64)

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couragekebs001 (46) · 7 years ago

thanks for sharing. i learnt from it

frantik (36) · 7 years ago

thank you for the post, I look constantly at your scale, your news is the best briggsy

baksi (43) · 7 years ago

Thanks a friend for the information, once again I support your post.

eldahcee (54) · 7 years ago (edited)

thanks for sharing. but one this is "d crypto space defies prediction"

ebtadi (36) · 7 years ago

thanks u this post

leoumesh (67) · 7 years ago

Maybe bitcoin is taking a break for somedays sir 🙂

markop (47) · 7 years ago

extraordinary description of your explanation @briggsy

juand (42) · 7 years ago

Thank you for your sharing and videos really help me,
According to presiksi you this will happen for how many months in the future.

andreina89 (47) · 7 years ago

Right I loved this information I think everyone should be very calm, because if we go back a year, in January last year the bitcoin if I'm not mistaken was in 1000 dollars and currently worth 10 times more and as you say in the post reached 3 historical of more value is stable and will continue to grow because it is the number one by much of all the more than a thousand crypto coins that are in the market greetings friend

aligaby89 (43) · 7 years ago

Great post with very excellent information greetings friend

reynakarina (53) · 7 years ago

We can not predict the market price correctly. Because it is the politics that the market does for them to have big profits. Hopefully your prediction will be true and we can be successful for the future. Thanks to you, who continue to share this very valuable information for all... :)

phillips93 (45) · 7 years ago

Very good explanation and description thanks great work

herbertholmes (56) · 7 years ago

Hey man, great post as always. Although I'm new to the market, I can't repeat myself enough to people. "just calm down". I find myself telling the same friends the same thing over and over again because they're doing just what you were talking about, watching the 15-minute etc. charts.

I forwarded your post to a few of them (who unfortunately haven't joined the site yet) and hope it will help them calm down a little. Thanks for this!

Cheers! :)

luxman (50) · 7 years ago

Thanks @briggsy, this post mKs me calm. 😊😊

stargreen (59) · 7 years ago

Amazing and valuable information sir.
Your posts are always have great content.

Thank you so much @briggsy sir for sharing this post.

stardivine (57) · 7 years ago

Great and amazing post sir.
Truly, brilliant!!

Thanks @briggsy sir for sharing this post.😊

Have a wonderful day!!

couragekebs001 (46) · 7 years ago

quite an educative post

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eldahcee (54) · 7 years ago (edited)

i actually learned from it. please continue to share this very valuable information for all... :)

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eldahcee (54) · 7 years ago (edited)

great post. with great analysis and explanation

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