Bitcoin has topped.

[Master Pu]

Yes, as long as people don't rise up against this nepotistic group at the top and sees what is really going on. This group has conducted the largest power grab in human history over the past 100 years.

Oh there will be lots of claret spilt in the future, but for this to happen economy needs to collapse, hence all the efforts to keep it afloat.

 

[DiceAreCast]

If he did not act so grossly unethically and morally reprehensible then he could pass as a bad version of a clown. Makes no difference whether he dies with a penny or 200 billion in his pockets.

 

[Master Pu]

In light of this thread calling the BTC top, I just bought more BTC today.

Interesting, yet not surprising, that Baron's post received 4 likes and my initial post got 1. So Baron made a decision to buy more bitcoins as a fade of my call and that is cute logic, hopefully this wasn't the only reason, especially since Baron doesn't know me or my track record. I hope this wasn't the actual reason.

 

[Overnight]

Interesting, yet not surprising, that Baron's post received 4 likes and my initial post got 1. So Baron made a decision to buy more bitcoins as a fade of my call and that is cute logic, hopefully this wasn't the only reason, especially since Baron doesn't know me or my track record. I hope this wasn't the actual reason.

I don't speak for Baron of course, but I think his comment was made tongue-in-cheek, in that he is probably weary of all the "top calls" in whatever instruments that have been posted in various sections of the forum.

To be honest, you cannot know the top, whether short-term or long-term, of something like a cryptocurrency because it has no precedent, no real history, and no fundamentals behind it, aside from larger players getting into it.

It has no industrial use, it has no physical presence, and if the power goes out you cannot access/use it for anything. THAT is unprecedented. Combine that with the new wave of Gen Z and NFT mania, and it would be folly to call a top in it at this time.

 

[Master Pu]

I don't speak for Baron of course, but I think his comment was made tongue-in-cheek, in that he is probably weary of all the "top calls" in whatever instruments that have been posted in various sections of the forum.

To be honest, you cannot know the top, whether short-term or long-term, of something like a cryptocurrency because it has no precedent, no real history, and no fundamentals behind it, aside from larger players getting into it.

It has no industrial use, it has no physical presence, and if the power goes out you cannot access/use it for anything. THAT is unprecedented. Combine that with the new wave of Gen Z and NFT mania, and it would be folly to call a top in it at this time.

.
Maybe you're right, maybe I'm too early. I don't question signals when trading. It may not be a top, it may be a top, like Pekelo said, Bitcoin did have multiple tops in past. There is A top and THE top. I'm just calling A top.

 

[DiceAreCast]

How many top calls? Keep it real brother, the stupendous hype to top call ratio on this website for cryptos is probably close to 100:1. And that's an extremely conservative estimate.

What would be folly was to believe that history won't repeat itself. Nobody knows the timing but the probability of the occurrence of cryptos going down hard stands at 100%. The counterclaims count in the millions throughout history and each single one of them was proven wrong. How many claimed the internet bubble was real because of breakthrough innovation?

I don't speak for Baron of course, but I think his comment was made tongue-in-cheek, in that he is probably weary of all the "top calls" in whatever instruments that have been posted in various sections of the forum.

To be honest, you cannot know the top, whether short-term or long-term, of something like a cryptocurrency because it has no precedent, no real history, and no fundamentals behind it, aside from larger players getting into it.

It has no industrial use, it has no physical presence, and if the power goes out you cannot access/use it for anything. THAT is unprecedented. Combine that with the new wave of Gen Z and NFT mania, and it would be folly to call a top in it at this time.

 

[NoahA]

Something we agree on, life is full of surprises.

https://twitter.com/x/status/1392150651124207629

https://twitter.com/x/status/1393248072600281090

I truly think that the idea of the Fed/Government is that they can't stop CEO pay at the top. So what they do is pump up the market, that makes many more rich, even just regulars guys with pensions. Then they give away free money to the lowest part of society, so that has them covered. And lastly, they tax anyone making more than a million, to now try and reign in that sector. Of course many still get away with tax advantages, but that is I think the game plan. They can't fix wealth inequality in the most direct way, so they are trying to do it in a very convoluted way.

 

[ph1l]

Here is a graph with:

• the past 123 calendar days from yahoo finance data for the close prices of BTC-USD (I think the prices are for just before midnight in London -- 12 AM GMT or 12 AM BST).
• curves of 10 models each fit to the prices with a trend plus cycles and extrapolated for 21 days.

The + signs are the input prices, and the overlapping lines have the models' predicted prices.

I don't think I'd bet on it, but the models are in close agreement that there is some room for prices to continue downward for about 14 more days.

Example of a model:

y = ((((25869.4 + (768.416 * x)) +
    (-4.60808 * (x * x))) +
    (4610.53 * cos ((0.216499 * x) + 5.74516))) +
    (1754.01 * cos ((0.342944 * x) + 5.3832))) +
    (2676.64 * cos ((0.185219 * x) + 5.10898))

y is the predicted BTC-USD price, and x is the number of calendar days from the beginning of the period.

 

[DiceAreCast]

I am impressed, not with your model, which surely looks like a polynomial that totally overfits the data. But that you show interest in the more technical aspects of financial data. Did I miss any similar of your past posts?

Here is a graph with:

• the past 123 calendar days from yahoo finance data for the close prices of BTC-USD (I think the prices are for just before midnight in London -- 12 AM GMT or 12 AM BST).
• curves of 10 models each fit to the prices with a trend plus cycles and extrapolated for 21 days.

View attachment 258930
The + signs are the input prices, and the overlapping lines have the models' predicted prices.

I don't think I'd bet on it, but the models are in close agreement that there is some room for prices to continue downward for about 14 more days.

Example of a model:

y = ((((25869.4 + (768.416 * x)) +
    (-4.60808 * (x * x))) +
    (4610.53 * cos ((0.216499 * x) + 5.74516))) +
    (1754.01 * cos ((0.342944 * x) + 5.3832))) +
    (2676.64 * cos ((0.185219 * x) + 5.10898))

y is the predicted BTC-USD price, and x is the number of calendar days from the beginning of the period.

 

[tsznecki]

To be honest, you cannot know the top, whether short-term or long-term, of something like a cryptocurrency because it has no precedent, no real history, and no fundamentals behind it, aside from larger players getting into it.

It has no industrial use, it has no physical presence, and if the power goes out you cannot access/use it for anything. THAT is unprecedented. Combine that with the new wave of Gen Z and NFT mania, and it would be folly to call a top in it at this time.

Typical Masshole logic above ^

If the power goes out, how do you plan on posting here on ET when the internet is down?