Bitcoin Boom/Bust Incoming (at the craziest time)


Maelstrom Whirlpool.jpg

Looks my prediction might be coming true.

https://steempeak.com/hive-167922/@edicted/a-huge-burden-lifted

Bitcoin is on the move up.

We are now 9 days past the "you are here" mark. If history repeats Bitcoin will ascend 80% over the next 2 weeks or so. In fact, over the next couple days, Bitcoin should break through the local peak at $10500 and parabolically move up from there.

What about Steem?

Steem will almost certainly go up more than 80%, and we've already had a good run up today. The reason for this is everyone defending the chain from Justin Sun. Way more stake is powered up than normal and 3 big exchanges are insolvent. There isn't a lot of liquidity out there, and the price of Steem could easily go anywhere from +100% to +300% over the next 2 weeks if Bitcoin does indeed make the run up for the pre-halving rally.

t1.png

260M Steem is powered up. It's usually around 200M. That's an extra 60M Steem that's powered up because Justin Sun doesn't understand decentralization. Steem is getting amazing press. Hopefully some of the users who buy the rally power more up and support our witnesses (I doubt it because bots control the market).


I repeat: there are only 80 million liquid coins in the entire Steem ecosystem!


Everyone should start a powerdown now.

You don't get any money for 7 days. Think about how long 7 days is in this climate. If Justin pushes a hardfork everyone needs to have liquid funds ASAP in order to dump the market and migrate to the new chain. Everything you do with your coins after Sun pushes a HF will likely not apply on the new chain created... of course you should wait for confirmation that a big player has indeed created a sister fork before you do anything rash.


If we are still in this situation 7 days from now you can cancel the powerdown to continue supporting the chain.

However, it also might be smart to just sell a little bit into the bubbled market (if only to buy more at a lower price).


Conclusion

It's hard to imagine Steem having a big run up like this because of how long it's been since we've had one. However, when Steem runs up, it runs up hard, and this is the perfect climate to create such a scenario.

t1.png


Comments 19


The only place I know of to transfer is through blocktrades. Wish I could figure out how to VPN it and use exchanges that don’t allow us citizens lol

07.03.2020 03:27
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I use Binance and demanded my coins immediately. Luckily I got it.

t5.png

07.03.2020 04:08
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I cannot withdraw coins from Binance from yesterday

Posted via Steemleo

07.03.2020 04:49
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you can also try bittrex too....@edicted i agree with your predictions and analysis...

Posted via Steemleo

07.03.2020 08:37
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I am physically incapable of doing a powerdown. Even now.

07.03.2020 04:22
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just like the exchanges!

07.03.2020 04:46
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Non-English speaking groups and communities are not represented at all on the platform at all - large groups should have a witness in the top 30 - Opinions of non-English speaking groups are not taken into account at all. Steem can turn into an English-language site for a narrow circle of people if our opinions are not taken into account - people leave without being heard.

Posted via Steemleo

07.03.2020 04:56
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This is a problem to be sure, but there is no solution. Non-english groups need to bring value to the network to get elected, just like anyone else. There's no way to guarantee spots to certain communities.

07.03.2020 06:07
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on binance steem is traded nearly 150sats less than anywhere else

07.03.2020 06:11
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I dont think btc will crack 11.5k

I actually think we will go down

Posted using Partiko Android

07.03.2020 20:29
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Bro, the halving is in 9 weeks. Buy the rumor, sell the news. You know how this works. Just wait and see.

07.03.2020 20:39
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But one of my friend is master in TA (he uses gann and many other "psychedelic" methods^^) and it really does not look like it.

Not every Halving has to unfold the same..
Especially if everyone expects it..

07.03.2020 20:53
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If your TA is accurate 60% of the time and wrong 40% of the time you're a master and can easily make millions of dollars. What these TA don't factor into the equation is that Bitcoin has a base support level that is doubling every year.

If every TA factored in that Bitcoin can't drop below $7500 right now a lot of them could come to different conclusions. This is a trend that has been 100% accurate and dependable since 2013.

07.03.2020 20:57
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Yea Ik, I read what you write :P and are a fan of your thesis..

so you think btc won't drop under 7.5k even after the big dump after the halving?

07.03.2020 21:10
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after the halving that number goes up even higher.

2020 Bitcoin baseline values.

Jan Feb Mar April May June
$6933 $7467 $8000 $8533 $9067 $9600
July Aug Sept Oct Nov Dec
$10133 $10667 $11200 $11733 $12267 $12800

It will be above $8000 in May.

07.03.2020 21:14
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And if it drops back down.. all panic and it drops even heavier :D :P

5k incoming

07.03.2020 21:37
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lol man 5k would defy a 7 year pattern.

Would you really bet on that?

07.03.2020 21:42
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I'm not leveraging or betting but I want a betting market on steem instead of the flawed plutocracy gov..

lol man 5k would defy a 7 year pattern.

pls explain

07.03.2020 22:07
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down we gooo

09.03.2020 23:31
0