Daily Daily Update (11/23/18) | Is Bitcoin Repeating Its Historical 80% Retracement?




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50 Comments

  1. I feed him twice a day, take him on fun walks and play fetch but I am not giving dog ownership advice but this is definitely a good idea.

    Except my advice isn't based on complete speculation.

  2. Hey Nick, can you please talk about the strength of the US dollar and its relationship with Bitcoin prices? There is a clear correlation that when the dollar is weak, Bitcoin gains in price. So I'm wondering what your outlook is on the strength of the US dollar in the coming years, because based off the DXY chart (US dollar currency index) it's clearly in a very strong bull market showing no signs of slowing down anytime soon.

  3. could the downfall of the russian exchange wex.nz have anything to do with the crypto-market crash? wex hasn't been allowing withdrawls since September an drecently their domain was blocked by nz… all sorts of stinky shady business going on there

  4. Nick I appreciate your efforts in updating us in those stormy days (Thanks a lot) but sorry I don't understand your view (short term optimistic?). I understood that you are just trying to say that this is just another down-sell (or big correction) that broke the resistance & Combined with low volume it caused a crash . Since your last comment the market dropped even more but the points I am trying to make is why you don't mention other factors :

    1st. one of the stories is that less people mine BTC , the network may go under-attach if this continue to drop etc… Or that 99.99 of rich people after all stay away from the market for the time being . I mean if Bcash fork , what security do you have with BTC? If the world Elite is not buying maybe there is a(some) reason(s) for that. You were saying in the past that something when things drop too much maybe there is some serious reasons behind, and I believe this is what you should do now. This is far from being an innocent correction , we are in free fall right to 2k or even less and nothing seems to stop it .

    2nd, the volume you are saying is low, it's actually not that low. We were running on circa 10-15 billions/d for the past months and since the recent drops from 6k we are at 20 bln/day while the market cap is at 120bln. This means volume is well higher that when BTC was at 6-7k and the total market cap 300k. This is really concerning . Big holders are here to sell. The few = hedge funds or whoever hodled and left till now is back with appetite for fiat rather than crypto. Those are the reasons I believe we need more of deep dive and you may add more value by speaking about those rumours or assumed reasons that caused the crash even though they are not maybe factual or proven.

    I disagree with you also that the refraining actions from Bakkt & co are just coincidences . I was expecting from you a different view, more insight . Imagine you are Bakkt CEO . Are you going to ignore the market ? Even Novogratz said that if possible , he would have delayed the lunch of his company for after the crash. Clearly there is a link .

    Myself I believe this will stagnate and run low for the next months until it gets some slow growth once all the distribution channels for the cryptos (Banks, ETF …) are up and running – i expect end 2019.

    Why not to think about the topic of – crypto & distributions channels – and share with us what do you think about it ? How this will change the prices when most of the residents in G8 will start getting easy and official access to the cryptos (i mean serious money through Banking products ETF etc) . This is where I believe we'll experience a long term growth , not like we had back in 2017. By the time we wake up from new year hangover , it's already gone :-). Haha

  5. Some perspective. Look at this quote from only 18 months ago… "bitcoin risen a lot recently and reached an all-time high of $3,000 on 12 June and is oscillating around $2,500 since then. As of 6 August 2017, the price is $3,270."

  6. this guy is a charlatan as many others, he talks about individual trees, but missed the forrest completely. He missed the bear cycle, the end.

  7. If you draw a channel on BTC/USD (Binance) from 02,Aug,16 with support points touching on 11,Jan,17 – 15,Apr,17. I see a rising support line that would be around 2k at this point in time when drawn out. My reasoning is that if BTC never went parabolic this would be the likely long term support. Have a look and let me know what you think?

  8. Nick, although you called the bottom early… again. Your analysis on the housing and traditional markets is on point. Keep researching and staying on top of that cause it will help us all keep out of the only currency that's guaranteed to go to zero, the fiat USD and all currencies based upon it.

  9. I think the problem is you Nick, every time you talk about reaching bottom, we go lower. I'm sure the whales are watching your channel and trying to fuck with you. Can you please stop talking about hitting the bottom?

  10. We will see Bitcoin under $1000 ! Remember every is currently built on speculation upon speculation. Every crypto out there today could likely go close to zero. I do not expect much growth over next year or so. There could be likely new crypto that is not even developed yet that will be the future adoption in the market with bitcoin and every other alt coin out now worthless! For now stick to real assets – real estate / gold/ silver / SP500 stocks back buy real businesses / government bonds and US dollar backed by government. At least for now. You will loose your shirt in current crypto markets

  11. Too much price talk. What happened to the long term world changing technology. What happened to influencing the Revolution? We need to get back on the offense of this technology, and get off the defense of it constantly. Chasing price fluctuations and reasoning behind it doesn't bring outsiders in.

  12. The final capitulation could be fast and furious. We will go below 4k, and could drop below 3k. When every fiber of your being is screaming with FEAR!, and DON'T BUY!, that's when the smart, big money steps in. (just my opinion, be smart and wise.)

  13. Get this through your head Nick, there will never be a Bitcoin ETF, which is good because we want volatility, and Bakkt will probably be delayed for the final dump

  14. BAKKT is just shilling the American Dream…which won't come true without A LOT of hardships. Please don't forget that Bitcoin is only one project and that the Cryptospace has got a lot more coming.
    Pricing wise, it seems that nothing major will happen until at least June 2019: Ethereum's Constantinople, Cardano's Shelley, Tron's Atlas and many others. People who have been putting money in BTC since January 2018 will need to be patient and take the time to understand what they got themselves into.

    Australian housing market is FINE: I'm right in the middle of it. Aussies (and Chinese) who hold the majority of housing are filthy rich and are sitting on stashes of Gold. First buyers are currently queuing up to get in. Sure, a few laypeople will struggle as interest rates go up, but nothing to be alarmed about. The correction in prices has been ongoing for the past 3 years and the Reserve bank of Oz is pretty good with its monitoring, meanwhile banks and lending institutions are VERY cautious in general.
    Aussies are not Americans: they are very conscious of their limits. 🙂

  15. Do you think Bakkt might have better adoption on launch if it times it during a sideways btc market? I feel if it launches in 2018 (as price potentially continues to move down) it might be bad for business 🙁 ……. end of Jan 2019 coincides with end of bear run according to my TA — just saying 🙂

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