AAAgent's Crypto Journey

synergy1

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30% down from area to "think about getting involved".

I would rather be called a high schooler than being called wrong. Time for you to stop pretending like you know whats going on. your charting doesn't work. its called accountability.
 
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lol. Here's the only chart that matters for the longer term investor... assuming the log growth curve holds, and so one hedges. Averaging in at the lower level on the correction has always been my policy.

average.png
 

synergy1

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That isn't the only chart that matters for a long term investor. You post those charts because they suit your narrative and little else. The market has broken after a mania which saw unsophisticated investors pile in on credit. Now these levels will act as resistance for a long time - how long no one has an idea.

It is instructive to look at leaders of the past. CSCO is a favorite of mine. lets pull up a chart of CSCO in the same vein you are looking at bitcoin, shall we? On the long term , since its IPO, the stock has still performed admirably. In the 90s it posted consecutive record earnings growth, and basically was ( and still is) a market leader. I bet you are even using a cisco product to read this post - assuming you or you ISP is using their routers!

So what happened for "long term investors" nearly 2 decades after its absolute peak? Well its still down 40%. The long term trend is still up, but that is nearly 20 years of opportunity cost lost. Cisco, unlike bitcoin continued to operate a profitable business and make money in those two decades. Bitcoin on the other hand might not be around in 20 years if governments do what they have done for thousands of years which is to control the minting of new money.

Losers adding to losers is not a winning strategy. I promise you all the promoters buying these alt coins are completely out of it now. Its best to admit you are wrong, and find another trade. There is nothing wrong with being wrong, but there is a lot wrong by trying to satisfy your narrative by recruiting others in order to build your own confirmation bias on a clearly broken trade.



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synergy1

Master Don Juan
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No, this is bitcoin.

Screen Shot 2018-12-08 at 4.18.58 PM.png

That is a bubble. The south sea company company for reference:

Screen Shot 2018-12-08 at 4.22.58 PM.png

Another good one from 1929, RCA the google of its time. Screen Shot 2018-12-08 at 4.25.06 PM.png

A bubble by any other name is still a bubble.
 
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synergy1

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In 2014, crude oil crashed due to a confluence of oversupply and slowing demand. Over leveraged companies were in a bubble especially offshore companies such as seadrill. The company still exists today, and even reports a positive bottom line. Down 99% since its peak

Screen Shot 2018-12-09 at 8.46.42 AM.png

You can keep denying it by re-drawing your chart to suit your narrative. History is not on your side on this one.
 
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synergy1

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I do think it will bounce. There are still plenty of people in the game. I was personally hoping for a bounce upto 5k before shorting on of the bitcoin trusts, but lately the selling has been pretty fierce. The question about how bitcoin would fare in the face of other market turmoil is being answered - europe, asia and the US markets are not doing well and bitcoin is doing much worse by comparison.
 
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