Were looking at the 1 day on BTG and It looks bad, it feels bad, it is bad. There's nothing that excites me about this chart as BTG life long downward trend points to the coin being worth 0 some time in the future, obvious I know that's not realistic but it is possible things get worse before they get better If it continues to follow its current long term trend line. I would like to point out a few things that make me hopeful about BTG.
1. We have seen quick parabolic price action in BTG history (in blue)
2. Recently, when the squeeze was on it moved up not down. (breakout at the end of red line)
3. Miners are mining it, the network is growing, there are more nodes than ever.
4. Its probably in accumulation mode as all the airdrops get shook out (pure speculation)
5. Its discount Bitcoin and if the network is sound and development is steady people are going to buy it sooner or later (Fact?) (Delusion?) (Pure Speculation?)
1. We have seen quick parabolic price action in BTG history (in blue)
2. Recently, when the squeeze was on it moved up not down. (breakout at the end of red line)
3. Miners are mining it, the network is growing, there are more nodes than ever.
4. Its probably in accumulation mode as all the airdrops get shook out (pure speculation)
5. Its discount Bitcoin and if the network is sound and development is steady people are going to buy it sooner or later (Fact?) (Delusion?) (Pure Speculation?)
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It jumped up off the trend line which is a good sign, I'm continuing to watch where it heads from here.
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and to imagine its going to go even lower than it is now, its just unbelievable.
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and look at us now,we doubled our price from the ATL, actually over 100% gain and we have almost a million long positions on bitfinex.