Debt Rattle December 22 2017
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Bitcoin Tumbles Below $13,000, Down Almost 40% From Record Peak (BBG)
Strangely, this is normal. BTC should fall 50-60% ($10,000~). This is where it was 16 days ago. Oh noes.
Or looking at the weekly DMA, even $5,000. Newsflash: $5,000 is where it was November 1st.
BTC is a young market right now and is akin to the DOW falling to Dec 6 of 24,300 or October’s 23,000. That doesn’t mean it’s going to go up, or even survive, but this is how the crypto market has acted for all 9 years of data.
The harpies come: A rapacious monster described as having a woman’s head and body and a bird’s wings and claws or depicted as a bird of prey with a woman’s face.
That’s the tax law just passed; for once, face the reality and act accordingly; anything less is your destruction…Ghost of Gann?
Yeah, well, if his “System” was all that credible, his followers would soon have all the money, now, wouldn’t they?Economies being self organizing structures, predicting “markets” is akin to predicting the next direction of a herd of cats. Assuming that is, someone doesn’t throw a cherry bomb in their midst.
@Doc,
“but this is how the crypto market has acted for all 9 years of data.”
Must be why they call it a market. Reminds of back in 01 when Au was in the 200’s,,,,and it actually exists, useful for, if nothing else, a good doorstop.But, alas, the good thing about Bitcoin is, if you drop it on your foot, it won’t hurt 🙂
There is no way out of lalaland.
https://en.wikipedia.org/wiki/Klein_bottle
it is a one-sided surface which, if traveled upon, could be followed back to the point of origin while flipping the traveler upside down. Other related non-orientable objects include the Möbius strip and the real projective plane. Whereas a Möbius strip is a surface with boundary, a Klein bottle has no boundary (for comparison, a sphere is an orientable surface with no boundary).
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