edgy
Bitcoin fuckery
Jose Murphy
Grayson Morales
Have you seen /biz/bros in action tho? They're basically Zig Forums trying it's hand at finance
Benjamin Flores
crypto day trader here. Surprised to see this on Zig Forums. I haven't visited /biz/ in awhile.
I used to be a crypto bull. But recently I switched to being a crypto bear.
I see bitcoin going down further. Any bitcoin that you buy now, you should prepare to flip later the same day as necessary. If you sleep while hodling bitcoin, you can get BTFO'd by bear whales looking to dump their coins.
My professional advice using technical analysis (you are free to donate bitcoin to me if you find this useful) is to buy bitcoin now because it's likely to go up from here a bit (note: the trend can always reverse in an instance if a bear whale decides to take profit. Technical analysis is not about fortune telling. It's a scientific method for using the past to predict the future.)
But be prepared to sell your bitcoin when there is a trend reversal though (short-term upward bullish trend turns to a downward bearish trend). If you are going to bed soon, put up a stop-limit order to take profit before bitcoin goes down a certain point.
Camden Thompson
Quick give me your analysis on Ethereum. I want to get in.
Leo Ortiz
Mining on it is about to become shitloads less profitable, so prepare for price drops in the near future.
Nolan Scott
NOOOOOOO
Ah well I guess I'll stick to stocks.
Levi Campbell
short-term bullish on ethereum. more so than bitcoin actually. hence the pic-related black bull (sadly I probably can't post this on /biz/ without getting banned because it triggers the Zig Forumsacks on there) but watch out for the return of the bear (other pic related).
bull = upward trend = bull in the cuckold scene is the man who fucks the guy's wife
bear = downward trend = dancing bear porn
get it? heh
Kayden Price
Just regular algo fuckery nothing new, most markets are affected by them including regulated ones.
The volume is virtually inflated by arbitrage algos working on multiple exchanges.
Do you have a crystal ball too? Would work just as good.
Jacob Cook
Wait did you just try to explain financial markets to a christanon using porn? I am sure they are now more confused…
Daniel Turner
technical analysis is not perfect but it is more useful than just blindly buying/selling something.
A lot of crypto traders have the mentality of "buy the dip!" only to find themselves BTFO'd in a deep bear market like this one. If you were buying the dip all the way from 19k to 6k, you lost a shit load of money.
Technical analysis is useful but it is not perfect because in a relatively illiquid market (compared to traditional stock/commodity/forex/etc markets) like crypto-currency trading, whales (porkies) have the ability to reverse the trend with a large order in the opposite direction.
For eg. recently I sold some of my bitcoin because the long-term technical analysis is bearish. There are some prominent technical analysts who think bitcoin is going to hit $6k. The price of bitcoin actually rose a bit since I sold that bitcoin. Because there are whales in the market who put up large buy orders and pumped up the price of BTC a bit. These whales might actually be the exchanges themselves. Exchanges can engage in "wash trading" (as described by someone else above) to manipulate the price.
However with the trend being bullish now, if you buy now, there is the possibility that you can get dumped on by a bear whale. A bourgeoisie who wants to take profit on his investment. That might actually be the exchanges themselves. Exchanges are thought to be guilty of engineering pump and dumps.