Tom Reynolds, CEO at Scirocco Energy presented at London South East's September Webinar. Watch the full presentation here.
Guggenheim CIO Scott Minerd has made another bearish prediction for short term Bitcoin prices.
Few days ago JP Morgan was calling for further Bitcoin price drop in short term...and now we have Guggenheim saying something similar. One minute they are ramping and the next they are deramping like schizos. People moan about the rampers and derampers on this board, but these financial firms are the ones who yield real influence. I said before the bankers will push Bitcoin up and also take it down. These FUD articles are part of their arsenal.
Bitcoin's Whale Numbers Continue to Explode. First 100K+ Token Address Emerges in 7 Months:
Small fish panic selling on Bitcoin dips.
Big fish accumulating on Bitcoin dips.
Found the indicator he is using called CVD compared it with the BuySellVolume:
Doesn't look quite the same...
Note that on the CVD indicator, there looks to be something of a breakout?
Shrug. Who knows.
BitcoinJack from Twitter just tweeted the same thing as what I posted above:
Few days ago I posted a link to a chart showing the BuySellVolume of Bitcoin suggesting the volume was overall bullish despite the recent drop in price. The chart was based on the 1 Day timeframe but today here is the shorter 4 Hour chart:
Looking at the orange Cumulative Delta line (net Buy/Sells) it's clear during the initial dip a few weeks ago, the net volume dipped into the red Sell zone indicating selling pressure.
However, despite today's most recent dip, the volume is weighted towards the green Buy side. People are buying the dips.
We can also see the orange line is trending upwards, starting to form higher lows. The orange line has also "broken out" of the previous downtrend, and is slowy trending upwards.
Furthermore, the upward trend of the orange line is in divergence against the downtrend of Bitcoin price, indicating a Bullish Divergence.
Question: I dont understand this voodoo crystalball chart stuff, what are you talking about?
Answer: Bitcoin might appear to be dropping, but people are heavily buying the dips. Buckle up. Strap in. It will be boom time before you know it.
Question: What do you mean by volume? Like having nice volume in my hair?
Answer: Volume can be a good indicator of interest. Whenever there is high volume of an asset it's generally always a good sign. The indicator shows increasing Buy volume and decreasing Sell volume which is bullish.
Question: What is a Bullish Divergence?
Answer: "A situation where the price candles’ tops or bottoms point in a different direction from the corresponding tops or bottoms of the indicator’s signal line is called a divergence. Such divergence can be bullish or bearish" :
I’m relatively numb to these drops these days. Have experience of my crypto coins dropping -80% so these dips are nothing new, but was definitely pooing myself the first time it happened. Can take time to get used to big dips, but the more you experience it the easier it becomes. It’s why I said yesterday to learn to embrace the dip and enjoy the sensation of your gonads been squeezed...
I view investing as playing a game on my phone nowadays....just numbers on a screen with the goal of beating my highest score. Weird feeling but great game.
Thanks for sharing your journey, wasarunner and I hope you succeed in reaching your goals. Agree in that being overly diversified can be a hindrance to growing a portfolio. Concentrated high conviction investments is the route I've chosen and although it may be considered risky, I only invest in areas/things I fully understand which helps mitigate the risk somewhat.
Being diversified across say 25-50 companies is common wisdom among stockpicking, but I disagree somewhat....If anyone said they held just two stocks, say Facebook and Amazon, people would think they were crazy, taking too much risk. But-but what if they go bust? But then you look at the owners Zuckerberg and Bezos and understand that they are effectively "all in" on their respective company's and it's unlikely they spend sleepness nights worrying whether to diversify creating additional businesses in case their main company goes bankrupt.
There are many areas in our everyday lives where we do not diversify...
-People don't usually spread their money across 10 bank accounts in case one goes bust (or has better customer service than the rest).
-People don't usually spread their money across 10 brokerage accounts in case one goes bust.
-People don't usually have 10 part time jobs in case the company of their 1 full time job goes bust.
-People don't usually buy 10 different brands of toiletpaper at a time in case one doesn't feel soft on their bottom.
Rather, people tend to focus on a single or small handful of the above and rely on faith. Trusting that the thing they've chosen will perform as expected, and if it doesn't, moving on and find a replacement.
I'm not "all in" on Argo by any means. Majority of my portfolio is a mix of Bitcoin, altcoin and crypto-related stocks. Both the altcoins and stocks are essentially leveraged plays on Bitcoin, and so in that respect, I am "all in" on Bitcoin. But I have faith from having done my homework and have experience in the industry so I'm completely comfortable with it. Once I'm old or as rich as the Rothschilds, then I will look into diversifying into random stuff, probably something like the boring Vanguard 60/40 Lifestrategy fund for proper "diversification".
Embrace the pain of the tight squeezing of your gonads. Learn to love it. Be a little kinky. Volatility will remain and works in both directions, once the time is right we go shooting back up.
I think the Americans will play a driving force on Argo SP simply on the basis that they are generally more optimistic, enthusiastic and confident. America's entrepreneurial roots instill a society supportive of capitalism and a culture that encourages and embraces opportunites for success and prosperity as per the American Dream. If Argo is destined to be "the one", the Yanks will find and back it. Brits are relatively pessimistic and negative in comparison...
Tell an American that Argo will hit $10 soon and they'll respond with a high-five and a loud whoop whoop noise. Tell a Brit the same thing and they'll respond with a dedicated BB thread telling you to stop ramping so much.
This is what they call in cryptoworld as FUD. Fear Uncertainty & Doubt. Deliberately timed negative articles released whenever the Bitcoin price is dropping with the intention to get people to sell (into JP Morgan's buy orders)
https://coinalyze.net is a charting website I've been using recently as it provides indicators not found on TradingView.
One such indicator is the BuySellVolume which works as described, monitoring the Buy and Sell volume on a particular exchange. The exchange I like using is CoinBase because it has the highest volumes for Bitcoin spot purchases.
The BuySellVolume indicator displays a Cumulative Delta line (a fancy way of saying the total sum of net buying/selling) shown in orange:
What is interesting is that in the previous Bitcoin dip, the orange line did not fully enter the red sell zone. So although the price of Bitcoin dropped, the net volume of buying/selling remained slightly towards the green buy side. i.e. People were heavily buying the dips. Another way to look at it is - it was not heavy selling that caused the initial dip in price, but the lack of buyers. A nuanced difference.
Based on just this one technical indicator, I do not see Bitcoin dropping down to the lower range of $20,000's. That is not to say Bitcoin will not drop a little further in price (retest of $28,500 area) but the bulk of the dip is now over.
Bitcoin may be forming a bullish flag pattern and whilst there may be further small movement to the downside, Bitcoin is not 'crashing' as some may think, but likely going to consolidate for a few more weeks before continuing the move to the upside.
>Too long, didn't read...
Bitcoin will pump soon and once confidence returns it will drag Argo up with it. Shortsellers will be left behind if they don't buy back into Argo soon.
lunq is unavailable to respond to your message at the moment. He is with busy with Warren Buffet snorting cocaine from a hooker's bumhole in the comfort of his private jet which is currently enroute to the Carribean islands where he is looking to buy his 6th worldwide mansion. This is a popular Monday afternoon activity of theirs.
He would like to remind Chaebol and those who cannot fathom there are others in the world with larger genitals than themselves to accept the previously mentioned bet. Bets can be placed via various blockchain applications so no trusted intermediary is required to facilitate the process.
Jeeves (one of Mr lunq's butlers at his UK residence)
Further articles debunking the presumptive lifestyles of the wealthy:
>Mark Zuckerberg was just spotted shopping at Costco. Look inside the lives of surprisingly frugal millionaires and billionaires, from businessmen like Warren Buffett to A-list celebs like Jennifer Lawrence.
>Millionaire Spending Habits That Will Surprise You
Chaebol, Let’s flip it around and talk about the lifestyles of people with smaller income.
Two couples both earning a combined household wage of £25000.
John works 40 hours a week at the local warehouse. His wife Julie works 40 a week as a cleaner. Both like to smoke, drink and eat from McDonalds. They have an outstanding loan from their purchases of the latest iPhone and some designer clothes. Any spare money they buy scratchcards.
Their neighbours next door... Paul works at the same warehouse and works 60 hours per week. His wife Pauline works 20 hours a week as a cleaner. They do not smoke or drink and prefer eating home cooked meals. Pauline has an outstanding loan from her purchase of a laptop to help with part time open university course. Any spare money they invest in Argo.
Same household income. Different lives, different goals, different spending habits.
Here’s a book for smallballers with small mindset who think millionaires are some type of mythical creature who spends all day shopping for Gucci shoes: Millionaire Next Door
Chaebol, Not comparing myself with Buffet, was using him as an example. Nice presumption of yours on what millionaires do or don’t do with their lives. What do you think that millionaires “should” be doing this morning?
If you’re calling me a liar, happy to prove it but will only do so if you’re willing to bet real money, want to play?
Not familiar with dark pools, can you elaborate?
Tell your son there's always someone out there with a bigger *****. Hurts the ego to think about it though. Some with smaller ones too though. It's all relative.
Update on my position for 1Inch token which I disclosed on the 21 Jan with an average entry price at $1.87. It's now currently $2.67, up approximately 40%. Targetting $4 by end of March.