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Most liked posts in thread: Bitcoin price discussion and analysis

  1. CanOz

    CanOz Home runs feel good, but base hits pay bills!

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    Poor or weak low

    It is easiest to illustrate what a weak or poor low by discussing what a strong or excess low is. When the market moves lower and finds that prices are just too low to be fair, the traders generally immediately drive price higher as buyers grab up as many contracts as possible at the perceived low prices. This generally leaves a buying tail on the chart and little in the way of volume on the profile. A weak or poor low is the opposite. This occurs when the market tests a low and can’t move away from it readily. A lot of volume trades a tick or so from the low print and buyers don’t seem to be interested in lifting prices higher. This is a weak or poor low and there is a generally tendency to revisit that low within that session or immediately after that session.
     
    fiftyeight, cynic, kid hustlr and 2 others like this.
  2. Value Collector

    Value Collector Have courage, and be kind.

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    Sure trade anything you can to make a profit, but don’t fall into the trap of believing the snake oil actually has value.
     
    moXJO, lusk, Skate and 2 others like this.
  3. StockyGuy

    StockyGuy Observe, Discuss, Apply

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    The USD is the world's reserve currency - backed by the world's greatest superpower. The USA is not only the most powerful militarily and financially, unlike the two competitors to the crown people are begging to live in the USA - foreigners rarely choose to live in China, Russia. People buy US bonds because they want to be shareholders in the greatest power in world history, despite its government debt level. That's what the USD represents currently. At this time it also has the highest central bank interest rate among major trading currencies with a floating exchange rate. While I accept no hegemony lasts forever, historically the big empires tend to stick around for a while.

    Compare that to Bitcoin. BTC may well have more medium term very profitable trading opportunities, no doubt. Likewise there may be a place for cryptocurrency in the future long term but to assume that will be specifically BTC itself is rather bold. There's others that have a lot of strong points. (Maybe someone should create a crypto and call it the Bulb, as in tulip bulb, for the lulz.) Just my two AUD cents:2twocents:D
     
  4. StockyGuy

    StockyGuy Observe, Discuss, Apply

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    You can get the smaller gold and silver rounds. Maybe have to buy the bakery, though. I suspect even in an apocalyptic scenario the appeal of gold to humans will remain. It's pretty. I get the point about divisibility but in fact it actually is divisible in a RELATIVELY low-tech manner - very malleable.

    If we were truly at the end of civilisation though, frankly weapons of any sort might be the only thing that matters. Weapons of all sorts might BE the currency.

    If it gets utterly medieval, weapons can purchase anything, at a cost of zero. Hopefully we never go back to such times.
     
  5. wayneL

    wayneL Rotaredom

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    Gold had it's problems... divisibility etc, but supposing the poo really hits the propeller and the internet goes down.

    How do you spend bitcoin to buy some stale bread, dried pig ears and a .38 magnum and ammo?
     
    Last edited by a moderator: Jul 20, 2019
    sptrawler, cynic and explod like this.