RE: Bitcoin (BTC) Morning Update: How to Remain Calm in a Correction

I don't beleive @Haejin has recommended USDT much in any of his Videos. Only real Fiat Cash: USD or Euro, etc when trading in and out.

I lean toward the T.A. Side, like Haejin, however there are rare cases that News/Fundamentalists do change price action. This was seen when John McAfee recommended ReddCoin on Christmas Eve. Price went from 75 Satoshi to 187 Satoshi in minutes.

https://www.tradingview.com/chart/fvcJviLF/

Same thing about BT2. Forgot where I read it, but the owners of it said they are dropping the project, Price plummeted from $924 to $140 immediately.
https://coinmarketcap.com/currencies/bt2-cst/
YET! even then, Haejin still Predicts the price will go back up: https://steemit.com/bitcoin/@haejin/bt2-coin-target-usd2-282

But overall, in the long run, Elliot waves still seem to win, dispite Fundamentals and news. A CLEAR example of this is DOGE coin. How on earth did a coin, that was created as a joke, owner cashed out and left community, more coins are created every day as demand increases, how did this Joke coin go from $0.0002 to $0.01??
https://coinmarketcap.com/currencies/dogecoin/

It's when these "Sh!tcoins" suddenly get popular, that I look back and remember to do my Elliot wave analysis and see the trend, it is always there. Hard to explain. But it just keeps happening

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guyjeb (29) 7 years ago

$0.00

corsair (38) 7 years ago (edited)

I was wondering if allegation that Tether never deposited fiat to USDT with 1 to 1 ratio (which pumps BTC/USD price up indirectly) turns out true, how reliable predictions based on Elliot Waves would be.

Your examples show me that Elliot Wave would be good indicator of price action regardless of shakes of fundamental of price action in long run.

Thanks for the indepth explanation and examples.