Prices seem to have found a bottom and now creating a new consolidation - perhaps prices will bounce up to the 230 level in US funds before going back down on the long term down trend.
Butterflylabs still has 90,000 bitcoins to sell and this is expected to push the prices still lower over the next while.
Trading volume has really expanded on the China bitcoin market.
Shout out to +logans run
Here are a few extra details about reading the chart patterns and some details about http://bitcoinwisdom.com charts and data that I've been using on these videos.
Over time this journal will talk about the simple chart formation patterns that I like to trade, and the risk control plan that I use after I take on a trade.
Also interesting to watch what others are saying as rationalizations as they watch the value of their bitcoins slide off.
The psychology of those who are holding a losing position in trading is very important to understand to become successful in trading.
Watch the clip with Roger Ver on a ZapChain video interview, talking about 'what would the value of bitcoin be if...' - these are compelling numbers that emphasize that market capitalization is the driving force to rise or lower the value of a cryptocurrency.
Full Interview Here:
https://www.youtube.com/watch?v=bD5Jf...
Instead of asking 'how can I sell my bitcoins' it may be better to ask 'what is the next cryptocurrency that market cap is flowing to?'
Cryptos will change the world - but, will it be bitcoin? or one of the next generation of Crypto Currencies?
Recommended Reading for all Traders and Speculators:
Reminiscences of a Stock Operator
Especially today in Bitcoin trading, the leveraged trading exchanges seem to be operating very much like the 'Bucket Shops' that used to be abundant back in the very early stock market days.
Butterflylabs still has 90,000 bitcoins to sell and this is expected to push the prices still lower over the next while.
Trading volume has really expanded on the China bitcoin market.Shout out to +logans runHere are a few extra details […]
