3 minutes ago, Walker88 said:

There are differences....an equity begins as a going concern with a business behind it.

 

Hiliarious.  What about resource stocks, tech stocks, biotech stocks.  Where is the business?

 

The proper definition for a mine (especially a rare earth mine) is "a hole in the ground with a liar standing next to it."

14 hours ago, Sparktrader said:

Economic booms and busts produce 7 year cycles.

 

1966 crash

1987 cash

2001 dot com crash

2008 gfc

2022 inflation ...crash or correction

I fail to see any 7 year cycles, multiples of 7 curiously yes.

It's already at zero. If everyone went to cash bitcoin like all the other shi*coins would finished.

 

It will never go to 70 60 50 40 30 20 19 below 19... LOL

9 hours ago, Sparktrader said:

27 companies including Tesla hold btc. They are getting smashed on Monday.

True that.  Nasdaq in for a shafting.

5 minutes ago, Adumbration said:

Hiliarious.  What about resource stocks, tech stocks, biotech stocks.  Where is the business?

 

The proper definition for a mine (especially a rare earth mine) is "a hole in the ground with a liar standing next to it."

Cute. Big Picture, not cherry pick or toss out the old mine adage.

 

bitcoin never had a business plan. It always relied on the Greater Fool.

https://finance.yahoo.com/quote/BTC-USD?p=BTC-USD&.tsrc=fin-srch

 

Down to 18,100

 

Carnage

 

Like to say I care but I don't. Holders so smug on the way up.

10 minutes ago, Adumbration said:

The proper definition for a mine (especially a rare earth mine) is "a hole in the ground with a liar standing next to it."

As a resource geologist I take great exception to that remark.

15 hours ago, FritsSikkink said:

Shares depend on the earning capability of the company, got NOTHING to do with a cycle. Bitcoin isn't a share.  

Bitcoin is an asset class.  Equities are another.  You clearly have no idea about either.

10 minutes ago, Stocky said:

As a resource geologist I take great exception to that remark.

Why?  I worked in mining most of my life as well.

 

By the way.  The definition holds equally true for tech companies.

18 minutes ago, Adumbration said:

Yep still a thing.  But yesterday was a bull trap rally.

Whoever is dumping hired a professional trader. They hammered the bid side, then went fallow for a while. let the market think the storm has passed. If or when the bid side fills in again, fire the second fusillade. If the bid side doesn't fill in, go in and BUY to paint the tape. (After a hammering, the offer side tends to be thin, so one can ramp the price quite easily and cheaply.) That tends to attract believers who think there's a bargain to be had. When the bid is thick...BOOM ! Hammer it yet again.

 

Rinse and repeat until the majority of the position is unloaded. The price action has been impressive.

 

Charts are meaningless in this sort of panic selling. Watch the tape, because that is where the information lies, not some chart point.

 

What should be concerning is that this began in earnest on a weekend. That suggests a truly desperate seller, which may well turn out to be a bank holding crypto as collateral for a loan gone bad.

9 hours ago, Hummin said:

17 950 USD now, still time to sell and buy at 11 000 in two weeks 

Neeranam must be the happiest person on AN right at this moment. Bet he's buying hand over fist.

9 minutes ago, Walker88 said:

Whoever is dumping hired a professional trader. They hammered the bid side, then went fallow for a while. let the market think the storm has passed. If or when the bid side fills in again, fire the second fusillade. If the bid side doesn't fill in, go in and BUY to paint the tape. That tends to attract believers who think there's a bargain to be had. When the bid is thick...BOOM ! Hammer it yet again.

 

Rinse and repeat until the majority of the position is unloaded. The price action has been impressive.

 

Charts are meaningless in this sort of panic selling. Watch the tape, because that is where the information lies, not some chart point.

 

What should be concerning is that this began in earnest on a weekend. That suggests a truly desperate seller, which may well turn out to be a bank holding crypto as collateral for a loan gone bad.

No the timing (early Saturday morning) was not desperation, it was planned.  They hoped to catch the market sleeping when they offloaded the huge volumes that smashed the 20K resistance level.

And yes I agree with you it was orchestrated and did not happen by chance.

 

We should also not overlook the fact that it might also be paid downrampers in the house.

7 minutes ago, Adumbration said:

Why?  I worked in mining most of my life as well.

As the resource geologist I'm the one who makes the estimations, it's my numbers that are the basis for the mine reserves, I've never lied about the resource numbers ever. Investors need beware exploration projects and mines that don't have NI-43-101, JORC or similar compliant resources.

 

.

Just now, Adumbration said:

No the timing (early Saturday morning) was not desperation, it was planned.  The hoped to catch the market sleeping when they offloaded the huge volumes that smashed the 20K resistance level.

And yes I agree with you it was orchestrated and did not happen by chance.

 

We should also not overlook the fact that it might also be downrampers in the house.

When I was a hedge fund manager, this is how I had to unwind a large position. One doesn't think it will work, but it does. It relies on an inherent optimism that people WANT the storm to pass. One paints the picture they want to see, then hits them with both barrels.

 

To be a good trader one needs to be a cynic.

20 minutes ago, Adumbration said:

Hiliarious.  What about resource stocks, tech stocks, biotech stocks.  Where is the business?

 

The proper definition for a mine (especially a rare earth mine) is "a hole in the ground with a liar standing next to it."

Companies have cash, plant and equipment. 

3 minutes ago, Sparktrader said:

Companies have cash, plant and equipment. 

Clearly you have had little to do with mining exploration.

1 minute ago, Adumbration said:

Clearly you have had little to do with mining exploration.

How much cash does bhp and rio have?

 

What was there roe last year?

 

 

fiscal year ended June 30, 2021, BHP reported an annual revenue of approximately 60.8 billion U.S. dollars

https://www.statista.com/statistics/264182/bhp-billiton-revenue-since-2004/#:~:text=In fiscal year ended June,approximately 60.8 billion U.S. dollars.

There are hundreds of "exploration" stocks that never make a dime though.

 

 

21 minutes ago, Walker88 said:

When I was a hedge fund manager, this is how I had to unwind a large position. One doesn't think it will work, but it does. It relies on an inherent optimism that people WANT the storm to pass. One paints the picture they want to see, then hits them with both barrels.

 

To be a good trader one needs to be a cynic.

I have never worked for a fund, bank or the like. But I did have my own investment company in Australia for over 30 years.  I traded actively.  I recall my highest turnover for one year was circa 16.2 million.  I am currently entirely in cash including my super.  I plan to move heavily into the crytpo space.  And this is a significant opportunity.  I am interested in where the bottom lies, as a fundie you will know that that is a nebulous question at best, but it is a topic worth debating.

 

I think a question that needs to also be raised is what percentage of this current correction in crypto is panic selling and what percentage is paid downramping in the attempt to create more significant opportunities for the manipulators.

 

Is that cynical enough for you?

I'm wondering where all those bitcoin trillionaires are now, the thai girls fell in love.

 

No more monthly money to be transferred.
 

34 minutes ago, Stocky said:

I fail to see any 7 year cycles, multiples of 7 curiously yes.

Google it. Every 7 years mkt correction and 2 crashes.

17 minutes ago, Stocky said:

As the resource geologist I'm the one who makes the estimations, it's my numbers that are the basis for the mine reserves, I've never lied about the resource numbers ever. Investors need beware exploration projects and mines that don't have NI-43-101, JORC or similar compliant resources.

 

.

Anyway.  You are the guy in the hole, not the one standing next to it.

26 minutes ago, Walker88 said:

Whoever is dumping hired a professional trader. They hammered the bid side, then went fallow for a while. let the market think the storm has passed. If or when the bid side fills in again, fire the second fusillade. If the bid side doesn't fill in, go in and BUY to paint the tape. (After a hammering, the offer side tends to be thin, so one can ramp the price quite easily and cheaply.) That tends to attract believers who think there's a bargain to be had. When the bid is thick...BOOM ! Hammer it yet again.

 

Rinse and repeat until the majority of the position is unloaded. The price action has been impressive.

 

Charts are meaningless in this sort of panic selling. Watch the tape, because that is where the information lies, not some chart point.

 

What should be concerning is that this began in earnest on a weekend. That suggests a truly desperate seller, which may well turn out to be a bank holding crypto as collateral for a loan gone bad.

I disagree, charts always help.

 

Whats rule no 1 for a low?

 

Higher low

 

2 or 3 higher lows even better.

 

0 1 2 lift off

 

0 1 2 3 lift off

 

2 - ma crossover

 

3 indicator crossover

 

4 volume signal

 

0 - high volume

1 - less volume

2 - less volume

 

Classic chart trading

 

 

5 minutes ago, Adumbration said:

Anyway.  You are the guy in the hole, not the one standing next to it.

Xyz resources with $2m cash is not the same as bhp with billions

 

Xyz goes 30c to $1 on hype then crashes to 20c

 

 

4 minutes ago, Sparktrader said:

I disagree, charts always help.

 

Whats rule no 1 for a low?

 

Higher low

 

2 or 3 higher lows even better.

 

0 1 2 lift off

 

0 1 2 3 lift off

 

2 - ma crossover

 

3 indicator crossover

 

4 volume signal

 

0 - high volume

1 - less volume

2 - less volume

 

Classic chart trading

 

 

Are you quoting my sex life?

35 minutes ago, Adumbration said:

Bitcoin is an asset class.  Equities are another.  You clearly have no idea about either.

I did an accountancy study for 2 years, what did you do? 

5 minutes ago, Sparktrader said:

Xyz resources with $2m cash is not the same as bhp with billions

 

Xyz goes 30c to $1 on hype then crashes to 20c

 

 

Why are you trying to sell me BHP.  Or are you biased because you hold it.  Yes BHP is different from IVZ.

 

By the way, back in the real world I had a consultancy and the last project I completed before retiring was for BHP.

6 minutes ago, FritsSikkink said:

I did an accountancy study for 2 years, what did you do? 

You really do not want to go down that rabbit hole with me.

1 minute ago, Adumbration said:

You really do not want to go down that rabbit hole with me.

So you are avoiding the question.