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RE: Time to be wrong, and go long.
I think is a mini bubble secondary to low levels of liquidity in exchanges. Since a lot of people took out Bitcoin in order to receive their BCC, the amount of money on the exchanges is relatively low. Thus people are retrading and pumping low levels of coins. Since holders already had their BTC in their wallets the speculator are gonna bring back their Bitcoins and unless the press coverage of the price all time high and the fork attracts new "investors" the price will go down slowly.
Problem is ertwro, is that I always think like you. Something goes up huge, it should have more of a pull back. Maybe it does eventually, the thing is with crypto, I have to remind myself not to underestimate the up-side. A lot of people day by day keep getting attracted to it, and many don't care where they buy-in at. I'm now in the mega-top scenerio. We hit 4k or 5k before the true top forms. Only alternative is something like a massive head and shoulders that hits like 3,600 with a gradual decline from there.
I'm leaning toward the mega-top now, though. BTC needs to retest 3,000 and hold that now, I think. If it holds that retest, expect a large rally.
Yeah, Tone Vays (and his magic secret indicators) have a similar theory about testing this support level for a couple weeks, just yesterday he mentioned $3500 as a safe trend. At the moment I have 5% of all my original fiat in Crypto precisely to not miss out, Although at this moment is close to 90% of my net worth.
Hmm I also thought that it was a bubble but then I watched Clif High's videos - we are nowhere near any saturation point thus we cannot be in a bubble. Brilliantly put. Unless of course the network crashes or goes from bad to worse. He predicted $13000/btc next Feb. You think that's insane?