While stareing at the btc and ltc price charts over the last few days willing the price of ltc to moon with my brain I started thinking that the price charts go through a very convoluted pathway to simply move up in price just a steady small amount.
The closest parallell for this that I could think of was a Rude Goldberg Machine You've likely seen these before, but may not know what they are. It's like the game Mousetrap. Or one of the giant ball rolly thingys. The ball rolls down, it hits the thing, which launches the thing, that lands in the thing, which knocks over the thing, whic makes the dominoes fall, which ultimately make the wire trip, and pull down the lever to start your toast in the morning.
Price seems that way to me. When I look at the chart focus not on the crazy red and green for a moment, but simply focus on the orange below. It's connecting low point to low point and roughly tracking how by the end of the crazy price ride the outcome is simply a new higher low point.
Essentially all that work to go sky high and drop down in an agonizing two month process is really just much ado about nothing. I'll some long concocted way to take the lowest point point in the scheme from 2900 to 5500 or 5500 to 6000. You're essentially ride a fear and greed roller coaster up some manic high extreme to put yourself through some crazy correction.
Money is made and lost in that journey. It's neat for sure, but it's a hell of a trip to knock out a new higher low. This whole thing struck me as I was sharing this with my dad to say yes there is volatility, but that doesn't matter much if you buy in at the bottom or if you hodl for a while since ultimately the price on the whole is just steadily moving up overall.
When I view charts I always try to remind myself of the concept of fractals. No matter the scale or the time horizon, so long as the market is trending upwards is all that matters, and this is very clearly the case within crypto.
https://en.wikipedia.org/wiki/Fractal
Nice post
https://steemit.com/translation/@steemdol/pembuatan-pakan-ikan
The scary part of blockchain, watching things rise and fall, can't even sleep well :(
Plankton knows nothing. I just read a good news about crypto price. Thank for posting.
I dont think there was a reason for the downfall for the btc price ltc was looking good after litepay was announced and looking to go for 250 $ but it also went down below 200 lets see what happens in the coming days.
Very informative post. Respect your activities. Thanks a lot for sharing
Well if you watch for when big volume comes back that pattern of fear and greed will make more sense.
I do like your analogy, quite a few unexpected moves on the coaster if you don’t know where the ground is!
I use 200 simple moving average, when ever we break the 200 big volume will enter all exchanges.
I am starting in the world of cryptomonedas and the technique used was a statistics of the rise, gives me curiodidad as you work with the fall (as explains the orange curve) I think I have a lot to learn.
It's a informative post...just i like that...
Increase and decrease in BTC and ITC is a common thing, we must be good at predicting prices to gain profit ..
Watch itc and btc for price
Love this bit; giant ball rolly thingys. giant ball rolly thingys. The ball rolls down, it hits the thing...its a complex affair especially when you are anticipating gains and scared of loses. Great share.
Good pos thanks for sharing
Owk I think the fact that it always attains a higher low makes it difficult for those investing late to. That's why it's always good to be an early bird because with the new higher lows you can't by at the same bottom twice.
Could we really say this is a good or bad trend
wow cool i like this vidio very much👍
Ever since I read your post about converting all the things to LTC I've been willing it with my brain for you too. :)
Good Job Fri...
Thanks you for sharing this information. Really appreciate the knowledge Thanks @journeyfreedom
You can't have emotions on the market.
If you start to wich that that the price go up or down, get out of the market.
It doesn't work that way.
Anyway, since you are one of the oldest users around here, could you take look at this post and let me know if i got things right?
Nice post good job
You are not incorrect.
The whole bitcoin to $20k last year was a bunch of manipulation by some traders getting into the market.
And the reason it didn't stay up there was a bunch of manipulation keeping people from getting onto exchanges and putting their dollars into cryptos.
Further, think about this. The price is not really about the market cap, it is about how much is for sale now, and how much demand there is now. People in the market trading are a small proportion of the actual tokens in wallets.
But, all of this trading is from 1-2% of the earth's population. And now, it looks like we will go to 13% over the next two years. So, that higher lows will get higher faster/steeper.
that's very helpful post!!
thank you ;)
Just like you were talking about yesterday haha
great post.. very helpful post.. thanks for your sharing..
I'm just really glad I didnt buy in when it was at $17k and people were still shouting about going to the moon, its gonna go parabolic!!! Now honestly I still havent bought any BTC, so when I HODL, it means something else : )
I Will Vote You At @steemboard Witness...