Hi guys, welcome to a new post.
I wanted to write this post because believe it or not I still get comments on my old YouTube videos saying how wrong I was for calling the top of the market. So this post is to both, the followers here who want to learn & actually already know about markets, and to those who are still living in the clouds & can't argue with anything other than 'you were simply wrong'.
Look, me being right or wrong is not really important, I'm not the type of person who's looking to be famous here, my only purpose is to make money & help others make money as well or at least help them to not lose too much in this over-hyped market.
So far my profits already paid for half of my property, by selling my alts right at the top & never buying in again. I bought monero at $15, Eth at $52, zclassic before the fork for $1 & a few more... Sold them all at the highs. I called the top for ETH. I posted it here on steemit, go check it out. Look at any of these coins today & tell me I could not go & buy them for half the price.
I sold most my BTC on the highs some at $2600, $2700 & $2900. Kept about 10-15%. I've been out of the market sleeping so well for the past two months. Now I got back into BTC after the 3k level was broken & confirmed the uptrend. I bought for $3380 & sold into USDT for the same price $3380. Go check out my recent posts when I called the Bitcoin crash one day before it happened if you don't believe it. Then I bought back in for $3266. You can do the math all I made vs all I missed.
The 'forever-bullish' guys who have been trading altcoins live on youtube for the past two months have been loosing consistently day after day in front of everyone & consistently continued to call the bull market, up till the last day. They are sitting in massive losses still, holding their alcoins to the day when some of them are 60% lower then when I sold & most still downtrending! Those are the same people who criticises me, and other channels like Marc de Mesel or Kubera for being down to earth. Reality is, De Mesel, Kubera, me and few others actually made a lot of money, while the haters (some) have been losing & continue to lose today.
Bitcoin formed a perfect market top, and the fact that it was broken doesn't mean it was the most probable scenario. Just like NEO's current pump is not something you would usually see in any market, not even in crypto. But hey crazy things do happen, no analyst will get 100% of their predictions right because there aren't indicators 100% reliable. But if you trade or invest based in multiple indicators & factors, instead of being bullish just because everyone else is, then you will be making profits consistently in the long run. The numbers don't lie, we have made a lot of money, the 'forever-bullish' guys lost a lot of money. Period.
The market cap is only 10B above previous all time high, which accounts for the money that came from Bitcoin cash. BTC gain is BCH loss, and that makes up for the excess in market cap. No new money has come into the market, or at least not a significant amount. The demand/supply theory still holds & it still shows we are close to a top. If no big real money is willing to come then the market has to go down.
It is not only the few things I am exposing in this short post, there a number of other factors to back up what I am saying which I have been showing on my Youtube channel for the past 4 weeks. They still hold, the fact that BTC broke 3k thanks to BCH fork doesn't change reality.
Do I believe BTC will hit 4k? yes I do, I believe it will hit 4k, based in technical analysis there is more chance for that to happen than not. Maybe even 5K. But, do I believe we're only at the beginning of the bubble, hell no. I think at 4k we will see a monumental correction & there is a good chance that that could be the top.
People didn't believe it either in Nov 2013... I dind't... De Mesel didn't... We've learned...
Just be careful if you hold a lot of BTC, that is all I'm saying.
Cheers for reading & I'll see you soon xx
Thanks for this. I am following and trying to learn as I go. At present I don't really have the time to trade and as I believe BTC will go up long term, I am OK. BTC may go up to $4k,correct to $3k but next year (or after) it is likely to be above $5k,soits all good to me. I appreciate If I timed things better I could make a killing, but for now I am happy to watch and learn!
Very much appreciate the comment. Yes I agree holding for the long term is good & a lot less work. But maybe only if you won't need the money for 4-5 years. BTC bear markets have been long in the past...
Your posts made me more alert to my crypto bags instead of HODL forever. Therefore I hope you will continue posting updates! Thx
Sure, the hodl strategy works super good in bull markets, I'm hodling BTC at the moment. But it is the worst you can do in a bear market. Will continue to update. Thanks for the comment ;)
dobe, you do great videos, very clear and concise, and I always look for and upvote your steemit. I wondered, if you have the time,if I could have a quick chat about your localbitcoins account. I am in Cambodia and thinking of using localbitcoins as an additional income. My email is [email protected]. Anyway, keep up the good work, ignore the haters, they're always around. I mod a few FB groups, and you wouldn't believe the vitriol one gets.
Do you have a BTC address for donations?
Thank you for sharing with us! I hope you enjoy the upvote!
I'm sorry for the annoying messages that you're receiving, You know wise people are rare and every successful person has haters just because they are not !
Me and many other people are listening to you trying to learn ! Your opinion is important to us, Thanks !
Thanks for the feedback I really appreciate it :)
I for one appreciate your logical, hyper analytical approach to the crypto-verse and all of your charting techniques.
I think you're right about the market cap, it truly hasn't shot up as much as people think, for some reason a lot of people aren't factoring in the BCH $4bn-$5bn boost when they are screaming ALL TIME HIGH, MOON, LAMBOS ETC ETC.
I am a member of a large crypto trading group on Facebook and for the past week all I've seen is talk about going to the moon, we're all going to be rich, and that's setting off alarm bells in my head.
I'm sure you're familiar with the Wall Street market psychology cheat sheet image that's always floating around... well, this past week has confirmed to me that we're in the euphoria stage for sure... and that means, it's time to start forming a contingency and exit plan for when this goes down.
Moon & lambos everywhere lol I think so too, we're in the delusion stage of the market. Thanks for the comment, I truly appreciate it ;)
Mocking the hyper-optimism. Classic!
Thanks for the humor.
Thank you for your time, your work and your teaching. There are plenty overly optimistic people pretending to be the best traders in the world, that just made me lose money. People who do not agree with you might sometime be right, sometimes be wrong, Trading is not an accurate science. The people who do not agree are free to join any other group, there are plenty to choose from.
Since I am following you, I started getting back some of my losses and I am very happy about it. Your approach will most certainly allow me to stay on this market on the long run and to learn, instead of losing it all, crying and never coming back.
Thank you again your time and generosity. Keep doing videos also, they're nice. You have your own style, with your small accent and way of seeing things.
Thank you very much for the feedback I always like reading thoughtful comments like this. I will for sure continue to share xx
Dobe4ever, I really appreciate what you have been doing. While you can just chill on your free time, instead you take the time to make videos and blog posts to teach all beginners like myself about trading and share your thought with all of us. I've been learning so much from you!
please keep doing what you've been doing and ignore all the haters. You're a great person that's why haters like you ;)
Thanks for sharing another great article, really love your daily video's & posts on Steemit! Can I ask you if you have experiences with cloudmining like Genesis Mining? If so, can yo maybe do a post or video about this? Would be interesting to hear your thoughts. I just invested a small amount and thinking to buy more... I'm aware if there's a correction of 50% it would be hard to have nice profits, but if it stays above 3k, easy money...
Have a nice day :-)
You are my favorite crypto analyst. I like that you are very technical and concise. Keep up the good work and share more of what your toughs.
I would like to express my sincere thank you for your generous sharing. You are best in the world at what you do, and it is an absolute pleasure to read your posts and watch your videos. I learn so much. Good things come to generous people. THANK YOU!
Thanks for all the post tbh i dont really care if its a bear or bull market (ofc i care) you can make money in both markets and i really appreciate your thoughts!!! I always wonder for how long you hold your trades? and for how much you go into a trade % wise.
i bought most of my bitcoins 200-300$. So far i sold only 20%. Soon i
m selling allmost everything. We re in a bubble nothing going in 1 direction forever. My friends which didnt buy at 200$ want to buy now only because the price is going up. Enjoy the ride its not going to be very long. If you see the previous bubbles its easy to predict price under 1000$ At that point im buying again :) Its simple you buy on a quite market when price going horisontal and selling when price go vertical.Could you take a look at Qtum ?
You are a breath of fresh air in this mad crypto world. Your analytical skills combined with your rational and disciplined approach are very appealing and in my personal opinion a legitimate pathway to success. I appreciate your videos and posts. Thank you for your effort.
Keep up the great work!
Thank you! You are a voice of sanity! Love your videos!
I always look forward to your updates and videos. Haters will always exist, please don't get discouraged. Thanks
Everyone knows who is who dear dobe. There will be haters always or mistake searchers. No one has crystal sphere and we all trying to predict the unpredictable. I know you always say no one can be 100% right but seems some people having difficulties to understand that fact. I really appreciate your work done for us. I am saying those who critisizing I really stopped my losses! Thanks dobe I everyday learning something. It is a pleasure to upvote your work. Thanks you so much
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