Historic Bitcoin Trend Data - We've been here before...
I was simply posting a comment to a buddy of mine who is a very respected point of authority in the circles that I regularly frequent on the internet and IRL. His name is @haejin, and although he has a very loyal following, he also has a following of negative people as well. I'm not sure where the negativity comes from, as far as I'm concerned I don't look at anyone's projections on what's going to happen, I solely trust my own knowledge, instincts and experience when it comes to trading with my own money. I guess if you didn't have experience trading and you took the advice of someone and the advice didn't pan out the way you wanted it to, I guess I could see someone getting upset with him for that, but for just the basic knowledge that he has added to the Zeitgeist of the crypto mindset of the world! For example, Elliott wave theory and his breakdown of the Fibonacci ladders and other valuation tools provided by most trading platforms, that knowledge he has given the world freely, without expectation of return or respect is not only priceless to me, I have to give him homage where I can because I wouldn't be nearly as good of a Trader as I am if it weren't for the things I have learned from him! With that said, I wanted to post a comment that I posted on his page because after I got started I realized there was a lot of good information in there that I would like to share on a Blog. The following few paragraphs are from a comment I posted on his page recently and the information within the following comment I left correlates to the picture posted with this blog:
I tell you what @haejin, I don't know if you have been looking at the historic charts for like the last 5 or 6 years on Bitcoin but I have been saying this for months now and it's finally starting to make sense to people because the historic trends show what will happen and what is happening to Bitcoin, any crypto or for that matter any stock, we can look at the historic trends of what happened on this day in this week in the last year to 6 years to get an idea of what's going to happen with Bitcoin just on a macro scale, not including micro economic trends causing this or that shift to happen. Yes there are a lot of laws and negative attention being garnered for Bitcoin right now, but no worse negativity then the most infamous drug site in the world known for human trafficking, copious amounts of any drug available to even children, Etc transacting solely in Bitcoin... The Silk Road brought far more negative attention than anything the media could publicize today and guess what, Bitcoin survived through it all and it will continue to survive!
What I'm getting at though is people are obsessing and getting upset with you because they are either losing money or whatever and they are taking their anger out on you, when in reality every year around January 15th the market for whatever reason, whether it be people realizing their gains from Q4 of the previous year, the Chinese New Year, for all we know it could be aetheric energy pulsing from the center of the universe on a 365-day clock that is affecting our markets... As outlandish as that seems, it is just as outlandish to assume that not only will someone be able to make a call on the possible projected price of Bitcoin, but equally that it will defy the yearly historic trends that are being established. I know we can't rely solely on the data from the last six February's showing a pullback in every February in Bitcoins history, but we can definitely use that data as a valuation tool to assume what will happen this February and next February.. You know what I mean?
What I'm getting at is basically this, every year around January 15th, the markets pull back and liquidity either moves or dissolves temporarily until around April 15th to the beginning of May... At the start of the second month in Q2, things get wild until about the end of June, usually within the 80% margin of the highest high from the previous year Q4... What I've noticed is if the high price achieved in June @ the end of Q2 hits the 80% threshold high of the previous year's Q4 high price, typically the UPCOMING Q4 - starting in mid-october and running all the way until the end of December, sometimes until the 15th of January - will not only achieve the highs of the previous year, they will typically follow the Fibonacci ladder, in my experience minimally at the 161% marker, but remember this comment man! If we see $16,000 to $18,000 Bitcoin in June of this year, I would bet my entire year's salary that we will see $51,500 to $54,000 bitcoin before 2018 is out...! Mark my words brother!
By the way you are more than welcome to use any of my data from my comments or the blogs on my page in your videos or your articles. I would be more than happy to supply you with data and my experiences anytime as you have provided me priceless information teaching me how to day trade... I have a lot of respect for you @haejin and I am totally at your disposal brother. Rock on!
By the way, sorry for the long comment, kind of got carried away but I really want people to know about the historic trends of the last 6 years so that at least on steemit, we can all have consensus of what's going to happen moving forward... BY THE WAY STEEMIANS!!! for anyone reading this, we really need to pull together and all invest AT LEAST A PORTION of our day trading positions in to Steem or SBD... Especially during pullbacks like this. We want to show the strength of our Market so that when things are good, analysts and the media alike can look back on Steaem and say, "well they did good all year long, they were unaffected by the pullback!"
RAWR STEEMIT FTW!!! <3 Cryptozzz!! AND I REALLY LOVE STEEMIT! I'm finally home!
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