Daily: Total Market Bleedout / ICO Scams

in #bitcoin7 years ago

Crypto markets continue a nose dive, with many trying to search for answers when there might be none.
0:52 Market Analysis
3:10 Last Year’s Market Trends don’t apply this year
5:12 Ledger FUD
6:08 10% of $3.7 Billion in ICO Funds Lost or Stolen: Ernst & Young Report

Ledger FUD: https://www.reddit.com/r/CryptoCurrency/comments/7scwsw/just_so_you_guys_know_there_has_been_a_flood_of/

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that's an Interesting assessment!

good job mikle

time will tell

Well God give us strength. patience and prevent us from selling cryptos during this tough time. Guys hang in there. It is a long, bumpy ride.

Best crpyto channel so far.

I am content with Ledger Wallet and the support is quite good.

Well Micheal I can say that I got screwed out of 1 ETH by a WanChain fake ICO. At least it was only 1. This occured during the Wanchain ICO period but there was a link embedded on top of their ICO page. Like a fool I did not check Alexa on the very last page, which is where I got the address from. I did not do my due diligence and therefore I am 1 eth less than I was last year... :( Thank the gods for my miners still plugging away making more. I hope to see a rebound by summer but I would not be suprised to see an extended down turn in the markets at least through spring. Anyway great post as always.

I wonder why the Ledger guys turned down an interview??? Disturbing.

Peace,
The Last Sage

No idea! They said they weren't doing interviews at the time and chose to remain hidden.

I personally still expect to see BTC dip to close to the 8k level in the coming days (Jan 24-26 due to 5 year BTC crash pattern which happens 23-24 days prior to Chinese New Year annually this year landing on Jan 24-25 + the first CME short positions expiring on Jan 26). From here I expect a bounce back to above 10k levels fairly quickly forcing BTC into a 10-12k channel for the beginning of Feb, finally breaking out of this in mid Feb to just above the 14k mark which will act as a new bottom level of support going forward as BTC moves back towards record highs in March/April (~20k) and beyond in the months following (~40k in July/Aug). Interesting times!

I am all for that but I would prefer not to have to test 8K

Thanks for the insight @budz82. Do think bitcoin is a great long term HODL like for next 2-3 years?
What other coins would you suggest for 2018?

EOS is my biggest gainer, ^1,000% across the board. Whoever gets ahold of some today will have a similar story this time next year.

Whilst i think chinese new year is a big factor, I think its too easy to point fingers at it. :D

The current dip has more to do with the CME shorts then anything to be honest (but the timing also overlaps the Chinese New Year cycle + a natural correction cycle). Lots of people manipulating the market for their own gains at the current time...

  1. buy mass BTC in the 3 months leading up to the futures launch
  2. cause a major spike to all time highs at the time of the future launch
  3. sell a portion (~50%) of your BTC at the top (2-3x the value you bought in at) to recoup 50% or more of your investment while leaving you with the other half of your BTC position to be used later
  4. short bitcoin when the CBOE futures launch
  5. short bitcoin when the CME futures launch
  6. just prior to your CBOE shorts expiring dump some of your remaining BTC to cause a waterfall dip
  7. cash in on your CBOE future shorts due to this created dip
  8. wait a week or so, just prior to your CME shorts expiring dump the rest of your BTC to cause another waterfall dip to an even lower level then before
  9. cash in on your CME future shorts due to this 2nd created dip
  10. use all the profit you made from your manipulation (selling at created top, profit from small CBOE short, profit from large CME short) and use that to buy many times more BTC then you original owned without the need for more capitol and watch BTC correct back to all time highs and beyond, while at the same time taking a long position on both futures markets going forward for the next wave of manipulation (upward this time).

I guess you can call it the "10 easy steps to 10x your money by manipulating BTC on multiple fronts".

Long story short, expect a dip to ~8k in a few days , and then expect the downward pressure on BTC price to suddenly stop (~14k feb, ~20k april, ~40k july/aug) as they ride the wave up with the same method only in reverse (with many times more value in play).

thanks for the info

Nice Video i will vote and restem this post


Thanks for bringing up the Ledger topic. I think it might scare a lot of people if they think they have lost all their funds on their Ledger hardware wallet.

I have written an article about this issue and have also pointed out some preventive measures every Ledger user should take!
https://steemit.com/ledger/@smallstepschange/are-you-using-a-ledger-nano-s-hardware-wallet-this-is-what-you-should-know

Do you think any Chinese miners will take a break for Chinese New Year? The lack of liquidity out of China over this holiday period could help exaggerate any move in bitcoins price (both to the upside and downside)