Straight from his winter cottage in Lenox, MA — Carter Braxton Worth journeyed down to the peasant CNBC offices in NYC to bestow upon them great magnanimous gifts of technical analysis — this time in the form of Bitcoin.
Carter got right down to business, as is always the case with his sojourns in communicating with average working citizens.
The recent pullback is pedestrian, a very common pattern in the short history of Bitcoin drawdowns. It is ‘remarkably uniformed’ said the festively seasoned Carter Braxton. Mr. Worth grandly summarized his analysis by asking his viewers to idly toss a thousand bucks into it here, ‘maybe more.’
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wtf , why isnt he bowtied
I heard he spilled some egged nog on it.
People might have been confusing him with Jim Rogers.
Mr. Rogers? Oh no!
You should own MGTI, Fly.
Mr. CBW was getting jiggy on those bitcoin charts. Something is awry. Enjoy your dairy free eggless egged nog Fly.
I kid you not, the almond milk egg nog is awesome and better than ordinary nog. Or maybe it’s all the whiskey I pour into it.
Ha, I’ve never seen such nog. Unsweetened coconut vanilla almond milk has replaced 2% milk for me. Thanks for all of the great posts and ideas you create here on ibc for us peasants to enjoy on a daily basis, Fly.
It can take a while to realize when a euphoric asset class makes the turn and has entered a Bear market.
It certainly can. Especially when coinbase and every other one amp to buy cryptocurrency can’t keep up with new user signups and verification.
Bittrex has been down over a week now not accepting new users. This shit is about to go Moore’s law crypto style parabolic.
Or are these real sign-up requests? Maybe NK bots flooding the sites?
old news..cryptos crash again
What is your read on it burrito? Seams like every crash is just rotation into different cryptos on the whole though, no?
The total market cap has dropped 50 billion since Fly’s previous post saying it was at 580 billion. I’m sure it’s just a temporary hiccup before we march higher.
Could be onto something. Using those numbers as crash mode is just approx 9% though. Cryptos have gyrations much larger than normal issues, you must agree?
It could drop to 300 billion and it would be an average pullback for crypto. Bitcoin has always rallied back and made new highs in the past when this has occurred. In other words, buy the pullback! My neighbor is using his home equity to invest in crypto. To him it’s a no brainer with rates low. I wouldn’t recommend it but it has worked out so far. He plans to pay off his home in a few years and buy a vacation home with the additional gains.
Time will tell how that works out for him.
Leverage like that makes one prone to hang on until it’s too late.
pay yourself first and then play. original capital and more should be back in ones own hands. It is just a shift of money from one person to another like musical chairs. shame to fund someone on the other side of the globe instead of ones own family.
Bitcoin chart follows Fibonacci to a t. It’s the cleanest chart I’ve ever seen. In fact it’s like buying vxx puts. Alas crypto is garbage and a hack just like vxx which should be regulated. I’d rather own ctl. Controls the entire internet and has a 12 percent dividend. Net is now not neutral. Ctl is the new 1980s treasury. Bitcoin Black Tuesday will surface just as it did in the past wiping out everybody once and for all. I can almost guarantee it. It might go to 1 mil a coin but not for another 100 years so all these bitcoin jesuses won’t be around to see thier retarded predictions come true. Therefore it gets chopped in half from its value of last year down to $400.
Shouldn’t Winthorp have said uniform rather than uniformed? Harvard boy.