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March 25 - I woke up this morning surprised by the decline in bitcoin prices, even though it is (in hindsight) a clear technical pattern in the charts.
Very grateful for the tippers who made this channel possible. Even though I am micro-trading - that is way different than just technical analysis. Thanks again. I am grateful!
Now... lemme see when I'll go long again...
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Yeah, pretty crazy stuff lately. The market seems to support roughly whatever the current price is. There seems to be enough of a market for the bitcoins that are generated and spent. But the big whales and groups of whales are the ones who are causing these wild swings. They have news groups where they formulate their strategy and they shake the market like a rag in a dog's teeth. It's kind of hard to predict these moves since they don't necessarily follow market forces. What they want is for people to get excited when they push the price up, and buy more bitcoins at an inflated rate, then they crash the market to cause fear and sweep up the coins that novice traders and investors let go of when it's down. But me? I'm playing a different game. I buy my bitcoins, dump them into my encrypted paper wallets and go on with my life. Only some of my surplus income each month goes into it but no large lump sums. It became clear to me back in 2014 that I'm going to have plenty of time to accumulate a nice position over the next year or so since there aren't going to be anymore 2013 run-ups for many months or possibly a couple years.
And next month I'm selling my paid off rental condo (since I think we're at or near the top of the real estate market and are about to hit another 2008 crash soon). I'll probably get about 70 or 80 thousand for it. Am I buying bitcoins with it? Nope! Just dumping the money into the mortgage on my house which will drop my payoff date to roughly 8 years from now. Volatile assets like bitcoin aren't something you throw big lump sums into. Only surplus monthly income should be risked on this sort of thing.
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