11 replies to this topic

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Tony Caldaro on Bitcoin...

 

123 abc says:

September 15, 2018 at 1:58 pm

Bitcoin: Personally see five completed waves up to Dec-2017, and now a bear market towards sub $1000 by 2020 is underway; i.e. see below charts. Do you agree with this outlook, or is there an expectation of a return to $10,000 and the $20,000 all-time high?

 

tony caldaro says:

September 15, 2018 at 2:48 pm

Three waves up to December 2017 … could make new highs in a fifth

 

123 abc says:

September 15, 2018 at 3:19 pm

Thank you for the response Tony, very appreciated.

Quite surprised to hear your view on Bitcoin. Was personally under the impression that a massive parabolic bubble had burst, and price was set to collapse to zero, i.e. tulip mania.

If indeed you suspect a final fifth wave higher, either truncated or to new all-time highs, where do you see this current fourth wave ending?

 

tony caldaro says:

September 15, 2018 at 3:45 pm

The low so far for this crash is $5775.  A little lower should do it.

 

[Snippit]

Bitcoin appears as shown… target range determined from Fib ratios on the hourly chart…

 

https://jsecharts.bl...s-bitfinex.html

 

 

[PlatinumWealth.co.za]

I doubt we saw the bottom yet.

Sub $5300 this year, imo.

[Snippit]

The Bitcoin (and similar) correction is completed...

 

https://wavecount.bl...itcoin-usd.html

 

[Snippit]

[PlatinumWealth.co.za]

[Snippit]

[HendrikB]

I cant blame people buying into Bitcoin. Who has confidence in the Dollar and Euro these days? Lets see how it plays out. If institutions start to accept the Bitcoin as a recognized form of payment it could be a game changer.

[ThatBlackGuy]

Interesting read fella's 

 

http://www.economist...2013/12/bitcoin

 

I believe something like this will take off someday.... but from an investment perspective, picking winners and losers is a lottery here.

 

Who will eventually get the right formula and enough take up to make it commercially viable? Your guess is as good as mine.... but like most ground-breaking moves on the internet, we know its coming, but we won't know which horse to get on until they've all bolted.

 

Gamblers can play, investors stay away!!! 

[Aragorn]

The big advantage of Bitcoin as "stateless money" is that when it collapses, the government won't have to bail it out.

[Jonny]

For sure...

 

It seems to have all the characteristics of a classic bubble. There is no way in measuring how much it is worth. You also now getting the people that are able to "predict" it and believe they will be able to "get out" in time if it all goes south. Craziness

 

Gamma, did you try selling him some tulips while you were at it?

[gamma]

Today, someone asked me whether it was worth 'investing' in Bitcoin.

 

 

Felt like hitting them over the head and taking their cash. Figured it might at least save them some time..

 

 

It's true that saying..there's a sucker born every minute.