Bitcoin Is Entering The Dead Zone

Bitcoin (BITCOMP) and the technology boom of 1990's have so much in common, you would think they are twins! 

bitcoin-is-entering-the-dead-zone

Previous Post: Bitcoin is so like 1979 silver

The chart below shows how similar each story is.

Mr. Market knows this, therefore the desire to enter this market is low, and lower prices will plaque Bitcoin for the next 18 months at least. The supply of coins into this market will continue, and prices will continue to fall, there may be bear market rallies along the way, and the good news is the patient (yip that word) long term investors will have the chance to accumulate coins at pre 2017 bubble launch zones (massive support zones). 

The first massive bubble can be tagged as the 'NEW IDEA CONCEPT' rally, the next rally will be its 'USE CONCEPT' move. Those coins or tokens which do not attract a market use will fade away into history.  

(Click on image to enlarge)

BTC1


There is a powerful force under the bitcoin market, this has been proved by massive money turning up during climactic sell offs. It is our view Bitcoin will not go to ZERO, however it may go to massive support zones and slump around for some time. The internet is still using a fiat payment system which travels through many banks (and fees associated with it) therefore the true internet money has yet to be solidified. Bitcoin (and Litecoin [in our view]) are heavy weight contenders!

Fundamentals are important, and so is market timing, here at readtheticker.com we believe a combination of Gann Angles, Cycles, Wyckoff and Ney logic is the best way to secure better timing than most, after all these methods have been used successfully for 70+ years. To help you applying Richard Wyckoff and Richard Ney logic a wealth of knowledge is available via our RTT Plus membership.

Investing Quote...
 

.."Nothing new ever occurs in the business of speculating or investing in securities and commodities."..

Jesse Livernore Trading Rule


..The time of maximum pessimism is the best time to buy and the time of maximum optimism is the best time to sell"..

John Templeton


Unless you can watch your stock holding decline by 50 per cent without becoming panic stricken, you should not be in the stock market.

Warren Buffett


Investing should be more like watching paint dry or watching grass grow. If you want excitement, take $800 and go to Las Vegas.

Nobel Laureate for Economics Paul Samuelson


."Buying stuff people hate, that's the business we are in, right!"..."you may need to have a longer time horizon"..."be patient"..

Mark Yusko

Disclosure: None.

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