156 thoughts on “BITCOIN

  1. Gary Post author

    I have to laugh at all the newsletter writers that jumped on the bitcoin bandwagon over the last month to cash in on the mania and draw in subscribers. They just got their subs caught in probably the greatest crash in history.

      1. Nada

        Lol of course you did and everyone here believes you. In case you have missed how things work around here, calls made in hindsight are treated as the bullshit they are. Post in real time or don’t bother with the typical BS “I bought the bottom” only after you think its safe to do so.

        Dollar to donuts, if you had bought and Bitcoin didn’t bounce and was down another 25%, we would have never heard a peep out of you. Boy, you are a bigger tool than I thought.

        1. Nada

          This is an example of a blogger someone mentioned a few days ago – tying to ride the Bitcoin train and sell their services to new investors in hopes of lining their pockets. In actuality they will only wreck their accounts with hopium.

          Russ is only interested in trying to recoup those babson courses fees that he lost money on.

  2. Roy Batty

    It’s funny that the title is “Bitcoin” but the chart is GBTC. Can’t you find a BTC chart? Right now BTC is at 13.5k (32% down from ATH). Let’s not get emotional this morning. This, so far, is well within the bounds of a normal correction for BTC.

    1. Gary Post author

      I couldn’t get the Bitcoin site to download a chart. It appears to have crashed.

      I’ll say this again, if you can’t sell into a parabolic move like that then you are never going to survive any bubble.

    1. JJHarmen

      That’s just BS. No amount of useless chart reading will tell ANYONE what Bitcoin will do next week, next month or even in the next five minutes.

      1. ziasDad

        yeah, you’re right, no amount of chart reading will tell ANYONE what bitcoin will do, what gold will do, what miners will do. Charts are completely worthless.

        But hey, here’s an interesting posted by a guy who was looking for a significant top on the day of the New Moon. Bitcoin top, imagine that! And he called it by using a chart. Imagine that!


        1. Gary Post author

          I don’t see a top call on that tweet. It looks like he has it going higher into the new year.

        2. Americano

          Yeah but that guy has been bad mouthing btc the entire time.
          Gary has too but Not in the annoying pompous way Chris has.
          Gary has at least been humorous.

  3. Darknessinvisible

    Too early to tell whether the Bitcoin bubble has burst as the uptrend is still intact. The 4 hour 200 ma is holding. Maybe the big boys manufactured the move to get in.

  4. JesseL

    On a Log scale for a 1 year period, Bitcoin appears to be in a normal correction.

    Hardly a catastrophic crash so far..

    1. JesseL

      Less than a 38% Retracement from the last major correction on March 29

      Only the late investors got hosed, the early investors are still comfortably in the money.

  5. JJHarmen

    Watch for a big Bitcoin rebound. The ‘fundermentals’ are fantastic. Isn’t that right Roy Batty?

    1. Roy Batty

      No one knows the future, of course, especially when mass psychology is in play. But looking at the past I agree with JesseL that this is quite normal for BTC so far. There’s a big difference between looking at a linear GBTC chart and a logarithmic BTC chart. As far as fundamentals? BTC, or some other privately innovated digital currency, has the potential to disrupt the entire financial and governmental monopolies. That’s foundational IMHO.

      1. Gary Post author

        You have to be crazy if you think governments are going to let you take away their power to create money. Or that they will ultimately allow you to create your own competing money.

        Seriously folks, a little commonsense is needed.

        1. Roy Batty

          You must be crazy if you think this time is different. We humans always find a way, eventually, to break free from enslavement. Who says they need to “allow” us. Did the British Aristocracy allow us to break free in the eighteenth century?

        2. ziasDad

          I thought that too Gary. Until CBOT and CME got involved. Now the big boys are playing with it, making money with it, and those guys basically the the gov’t what to do. So I think bitcoin is going to be around for a while.

  6. JJHarmen

    Nice push up for gold. Where the heck are the masters of Gold prediction? Ped? Mustang Sally? Zkotpen? Come on guys, time to jump in here with your latest chart reads.

    1. primetime

      Thanks for sharing some of that California Christmas cheer! I know it’s miserable out there in that state, but cheer up a little. The holidays are here after all.

  7. Gary Post author

    I guarantee there is no smart money trader with a lick of common sense that is trying to get into this market.

    Smart money doesn’t buy parabola’s, they sell them.

    This is the most ridiculous rationalization I think I’ve ever heard.

    1. Americano

      I say this because Gold is moribund. It’s had 40 years to show us what it’s got & frankly, that dog just wont hunt. It’s a yorkie after all. Especially with crypto competition.
      Now as far as TQQQ ( the dream machine) I’m with ya.
      Gold will always be needed. Especially if you get invited to an Indian wedding.

  8. jskauai

    Gary, do you believe gold was in a bubble in 2011? If not, do you believe gold chart will someday in the not too distant future resemble the bitcoin bubble chart?…Mahalo in advance and Mele Kalikimaka

    1. Gary Post author

      Not a bubble. It wasn’t nearly stretched far enough above the 200 DMA to qualify as a parabola and it never rallied 100% or more in a year or less. Plus silver never even made new all-time highs. You can’t have a bubble if the asset hasn’t even made new highs.

      Yes I do think the gold chart will look like the bitcoin chart at some time in the future.

      1. jskauai

        OK, thanks and I agree, so with that said, what is your opinion in getting into these little penny junior explorers, provided that you do your homework on them. I don’t know if you are familiar with the analyst Spock who has a portfolio of such plays? He has recently became CEO of Canamex (CSQ.v or cnmxf). He also has come out with a scheme to fund exploration with a gold backed crypto token see here; https://goldtadise.com/?p=418379. My point is if you think gold will rocket to ridiculous high levels won’t the level be in these little Spock rocks?

        1. Frederic Degembe

          You better in invest in well known explorers that already have proven ounces or developers. At least when gold goes up the valuation of these names will go up too. As with investing in unknown penny juniors stocks, very dangerous, unless you are in from the beginning and can cash some at a double/triple. Most of these investment writers are pumping stocks and taking big commissions by doing private placement with their subscribers, some people in the industry have been sued for not disclosing that and on acting on inside information.
          Therefore be warned! there is a big difference in in investing in GDXJ names and these unknown explorers. I would go for better known explorers that have backing of well known people from the industry, not a newsletter writers without mining experience.

      2. ocram

        I think that the fact that silver did not make a new all time highs is probably the most important fact for the hope of a new bull market in PM’s . (or the continuation of the bull market born in 2001)
        I would be curious to know when Gary ,if this will be the case,would see the end of the bull market.
        Could this happen around 2020?

    1. Gary Post author

      Gary was warning you what was coming 4 days’ ago. You didn’t listen.

      No one ever does during a bubble.

      Gary tried to get you out of bitcoin and into miners. But of course you ignored me.

      1. Gary Post author

        No Gary told you that in order to profit from a bubble at some point you have to control greed and just decide you’ve made enough. If you fail to do that then you will end up losing everything when the bubble pops.

        Bitcoin is the most dangerous bubble in history, because it is so volatile. Trades have become immune to giant swings. So they won’t recognize the crash until it’s too late. By then there won’t be anything left.

        1. Roy Batty

          LOL. I listened to you and sold my one BTC around 11k. We have several debates going on simultaneously here and I agree with you on several fronts.

    1. Americano

      I for one am enthused with Gary’s embrace of Bitcoin. I look forward to more video analysis!
      Dick Enberg, FAMED & amazing NBC telecaster died today. God Bless him & his family.
      Bitcoin hasn’t & will show just how plucky it is in 2018….
      Like I’ve always said.
      My Xmas gift this year is that my prediction is still viable ( destined?) $15K June.
      $25K EOY.

  9. Gary Post author

    The problem with most people is that they want (or need) to trade “perfect”.

    This keeps them in trades too long or it prevents them from entering early enough. In the case of bitcoin everyone is afraid of missing some of the upside. In reality they should be afraid of getting caught in the crash. At some point take your profits and don’t give a damn where it goes after that. If people could do that they would make plenty of money off of bubbles. Notice I didn’t say every last penny. I said you can make “enough”.

    If one can be satisfied with making “enough” then you will walk away a winner and maybe a huge winner.

    Those that are worried about making every last penny will walking away with little, or nothing.

    Greed control. Those that learn it will win. Those that are unable to master it will always lose.

    1. Americano

      I think selling old turkey has to meet one of two criteria:
      1) Ya wanna buy something cool such as a mini-submarine or a custom elk gun.
      2) You have to, say your truck broke or your dog died. They must be replaced.

  10. Don

    JJHarmen: Are you still holding PGC? I have sold 60% of my holdings at 4 to 5 cents, a good win considering I paid and a half to one cent a few years back. I havn’t seen any insider buying for quite some time so that’s making me a bit cautious.

    1. JJHarmen

      Don, I still have 200 thousand shares and no intention of selling. Percentage wise, it has been my biggest winner for 2017! Thanks for your advice though.

  11. TraderPete

    “Gordon Gekko gave an insightful speech where he said, “Greed, for lack of a better word, is good.”” 😎 LOL!
    I agree with Gary, you need to control your fear, and you need to control your greed.

  12. Lenapowich

    Finally back into a profitable position on GDXJ. So far, no rug pulls. I take that as a sign that this time gold is going gain some real traction.

  13. ted

    I am buying more GBTC today. The bitcoin rally is not over. Truly not over. In fact, I am 100% sure all of you will regret not buying these dips in a year.

  14. primetime

    Sounds like the only savior of bitcoin today was the system broke, so the selling stopped b/c you could not sell. That is a liquidity problem.

    1. Americano

      Prime time,
      The exchanges cannot handle normal volumes now, let alone panic sell offs.
      Bitstamp in Europe is on boarding 100K A DAY.
      Coinbase took on over 600K during Thanksgiving ( then they stopped posting on boarding numbers).
      The “year of crypto” was never going to be 2017.
      It’s 2018.

  15. TheSmartMoney

    Yes, the Bitcoiners are still delusional after the Bubble popped. Need some evidence?
    GATA member Bix Weir just emailed me this and he influences thousands…Dittos Max Keiser who tweeted basically, “Buy the Dip” dear unwashed with illusions of grandeur….

    For those of you looking to spend a few bucks on the latest pull back here’s the three that I am buying right NOW…

    #1 Litecoin(LTC) under $300 is a HUGE Christmas Gift!

    #2 Populous(PPT) under $40 is like stealing!

    #3 Omisego(OMG) under $20 will have you yelling “OMG!” in 2018!

    Blood is in the streets and this is where you can build Generational Wealth to last for you and your family for the next 100 years.


    This confirms the buyers in the expected bounce that Gary referred to today after the initial DIVE.

    I love instant communication.


  16. Nada

    WSJ BOW/SOS predictions;

    GDX -135m SOS
    GDXJ +101m BOW (will not show up on WSJ due to GDXJ closing green)
    GLD -48m SOS

  17. TraderPete

    @ SLEP,

    Gold is money. Money is good. Therefore, gold is good. However, “… the love of gold is the root of all evil …” Just ask Goldfinger. 😎

  18. palobar

    Markets take the stairs up and the elevator down. BTC crash will be good for gold. Will make them look at the right place.

      1. palobar

        Hello Ted. I have not done any work on bitcoin. I know that many people here called it a bubble a couple of months ago yet BTC nearly doubled since then. If one looks only at the chart, surely it looks very impressive, scary, bubble etc. The issue is whether BTC will have a place in the future apart from the money laundering or speculative benefits. If that will be the case, it can add another zero, who knows. When Apple was trading under $1 and went to $10 it may also looked like a bubble but there a strong longer sustainable reason for that move. The same with the Dow now. In 2009-2012 every analyst was fighting the rally. I dont know the answer for BTC. Congratulations if you partcipated in this rally early. Well done but dont get too greedy. For sure this this thing has done a damage to gold.

          1. RTTPD

            ” Nothing feels like physical gold coins in your hand”

            Boy do you have that right.

            I carry a circulated 5 dollar Indian on a money clip in my pocket every single day for good luck.

            I read a while back 9 out of 10 Americans have never held a gold coin in their hands.

            When I grew up, that’s what we got for Christmas and Birthday presents…..and if you made the honor roll – you received a 10 dollar gold piece.

            They were and still are the best gifts I’ve ever received in my life.

    1. vin

      I was one of those idiots you are shaking your head at. Though I did buy a small amount at 15.45 and then I also purchased some call options. What is your point?

      Either you are new to investing or your arrogance is boundless. If anything the market is a humbling experience.

      1. Duuuuuude

        I have been a licensed commodity broker for 20 years, so I have been around the block a few times. I am poking fun at the arrogance of traders who are too good to buy when it was 14.50 because it had gone out of their ideal trading range. It has already gone up over 15% since then in a couple days. When you recognize the ICL is in, you buy. If you miss an ideal entry in hindsight, it does not mean where price is now is still not a good buy. We are only a week into a new IC for goodness sake.

  19. didier

    Bob Moriarty writes gold’s move is probably a dead cat bounce followed by new lows. Let’s hope not. Je was wrong with his dollar call this summer.

      1. Gary Post author

        Unlikely. Gold has generated pretty much all the signs necessary to confirm an ICL has been struck.

        Weekly swing late in the cycle.
        Close above the 10 WMA.
        High volume up day in the triple leveraged funds.
        Juniors are making higher highs.
        Close above the 200 DMA.
        Miners have broken their intermediate down trend lines.
        Price is staying overbought. A pretty good sign that the advancing phase of an intermediate cycle has begun.
        Cot’s have reversed and become bullish.
        Sentiment reached bearish extremes.

  20. cazabrujas

    Gary. I have been observing the bitcoin bubble and it looks to me as if this bubble is developing much faster than others. For example: the tech bubble took about 5 months to get from the start of the “nutty” phase (October 1999) to the very top (March 2000). Bitcoin has taken weeks to do the same thing (early October till now). Why is this bubble moving at an accelerated rate? Or should we consider July as the start of the “nutty” phase in bitcoin?

    1. Gary Post author

      The nutty phase in bitcoin started at the beginning of 2017.

      It’s just not as obvious on the chart because of the insane moves at the end of the bubble.

      We have the largest bubble the world has ever seen and yet many people are still trying to buy the dip. Simply amazing.
      Greed control is out the window. 🙂

      1. Jim Dandy

        Buying this bitcoin dip reminds me a lot of the metals and miners in 2011. I had taken a stab at them myself, and was up on my positions not for long before the bottom fell out again. After the sharp puke outs seemed over, it wasn´t like the miners took off higher again, instead they just got bled slowly for the next 4 years after the sharper drops.

        I think the high has been reached on Bitcoin, the only questions are how low it goes and for how long, and how much bounce occurs, before heading lower again.

      2. Pennystocks

        Hello Gary, how do you think the NYSE ETF filing for bitcoin trading could potentially affect the Bitcoin price if t in fact does come to fruition and is created ? Does it have the potential to then raise the price above $20000 or even Way Beyond? What’s your take?


        1. Gary Post author

          I think if one can’t be satisfied and take profits after the largest bubble in history then they need their head examined.

          It’s simply too dangerous to keep chasing this.

      3. Duuuuuude

        Talked to a guy today who said he and a couple of his friends were backing up the truck to buy this dip in Bitcoin. Its not even trading. Another guy pointed out the story from ZeroHedge about this being just another dip. There are much easier ways to trade.

  21. shiva1968

    GBTC was trading at a 100% premium over how much BTC they hold in the trust. The premium for GBTC is known to contract and expand and in this case it had expanded significantly and simply came down to more reasonable levels, albeit closing today at close to $2000 a share. What we saw today in BTC was more of a “flash crash” ultimately ending in a mere 27.5% correction as I type. It will be very interesting to see how it plays out from here.

  22. Steffmeister

    Ok, as promised my analysis that goes from two years back and one year into the future. I challenged Nada and Gary to figure this one out but they never stepped up and presented a convincing roadmap for Gold, so here is my take on things.

    Oh just as a sidenote, I think the stories about Uncle Scrooge and King Midas is false to keep the sheeple away from the real stuff- For the last 4-5years I am giving away a silver coin to my and my brothers kids. They do not understand it yet, but in less than a decade they will know why for sure.

    There is a yearly pulse, an annual TIC in Gold, that predicts the future, look at the chart:
    Posted the 23rd of Oct

    The first yearly pulse in 2016, followed by a weaker pulse in 2017 and I am expecting an even weaker pulse in 2018. It’s like a bouncing ball dropped from your hand. A Golden trinity 🙂 The Sun-Moon-Earth is just for show (or is it) the real Trinity, bcos the Solarsystem created us. A giant cosmic clock and as a clever Nobel prize winner said a couple of weeks ago, we are walking biological clocks. We acts in sync with the Solarsystem.

    The green bar is pointing out the end of the bear, we are a year away, before take off. The giant fractal of Gold that was initiated in 1980 and the timespiral has been ticking ever since in a very timely fashion.

    I use basic EW to time my buy in various miners. MUX was a great buy a couple of weeks ago.

    God Jul och Gott Nytt År 🙂

    1. Steffmeister

      Wow look at the time sync for the post 2:33 the 23rd, that is scary

      two – three’s = 33 posted the 23, why do you think Air Jordan played with the number 23?

      33 the highest rating for a freemason in scotish rite masonry.

      Another 23 worship, listening to this crap makes you feel stupid and that is the intention zzzZZZzzZZZ keep the sheeple stupid and dizzy

      This dude is interesting:

      1. RTTPD

        “Wow look at the time sync for the post 2:33 the 23rd, that is scary

        two – three’s = 33 posted the 23, why do you think Air Jordan played with the number 23?

        33 the highest rating for a freemason in scotish rite masonry.”

        I usually find your stuff very interesting and you’ve been accurate in the past with some of your very good jr miner picks.

        But these videos are really strange……

        Dont take this wrong…..But did you by chance smoke a bunch of dope before you went to bed last night?

    2. Nada

      Not sure what you are talking about. I have posted charts for the last two weeks on dixie, usdjpy and gold outlook. 1348 TP1 remains. I am going to play it one IC at a time and will leave the moon and goocher talk to you.

      1. Steffmeister

        I guess you need an abstract bone in your body.

        Do you not see the three cycles in Gold, we have already made two of them, one last yearly cycle to go.

  23. carlvan

    Guys, does any of you remember Paul Marks, who used to post funny and arrogant posts on gold reaching 5k or more within the next 2 weeks while stock market would crash and loose 90% of its value in the same time- he kept repeating that in early 2016 if memory serves me well, then he kind of disappeared ?
    But he might still post in the sub’s area.

    1. palobar

      You may want to add:
      James Rickards
      Peter Schiff
      Bo Polny
      Mike Maloney
      Gerald Celente
      David Morgan
      Jim Willie
      Marc Faber
      Max Keiser
      Jim Sinclair
      Casey Research
      and so many others….

      Every time gold would bounce a few dollars they would come out and scream ‘buy gold now its going to $5k, $20k or $50k. These people have done a huge damage to the gold retail investors. When Gold made its yearly highs in 2012, 2013, 2014 and 2016 they were all WRONG. When the time comes for Gold they will do the same but unfortunately this time people wont believe them.

      1. carlvan

        Yes I am aware of all that, but you don’t answer my question. I was just wondering about Paul because he was (is?) a professional miner in Australia, had a huge position in gold futures and was a SMT sub (I was also at the time). I was just curious what he has become.

  24. jake

    Nothing wrong with buying a secondary rally, unless you don’t like sure things or making 100% profit in a day.

    1. Jim Dandy

      That is about what I am thinking as well, small bounce then open the trap door. After the next flush the bulls and dip buyers will be toned down.

  25. Gary Post author

    If you are holding bitcoin you must ask yourself at some point if you have made “enough”. Can you take your profits and walk away happy?

    If you can’t do that. If every new high just excites you to raise your price target a little bit more, if every dip is seen as a buying opportunity no matter how parabolic the chart has become then you have no hope of ever walking away from the bubble with anything.

    So ask yourself: Have I made enough?

    1. Gary Post author

      I suggest one learn this lesson now, because you are going to need it again during the final stages of the stock market bubble and again when gold forms it’s final bubble.

    2. Jim Dandy

      True, and you also already know the answer to your question. No, they can´t settle for 30% less than they had last week, especially with how they´ve talked themselves into the fundamentals regardless of price, no matter how great the gains would still be if they could just pull the trigger and sell a vertical market.

    1. Steffmeister

      Gold moved from a Dec LOW to a Dec LOW to a Dec LOW and we most likely are moving towards a final Dec LOW

      Gold LOW at or around Nov 2018-Feb 2019 : 970.

      1. carlvan

        I like your charts, this development is really possible, if not probable. Looking at the usual symmetry in all markets (as to the left before the central pivot, as to the right after…) I would say that between Oct2012 and Jul 2013 the descent was straight without noticeable pivot, so the rise from now should be similar, almost a straight line to 1750 before any serious correction. The 2 years ahead will be exciting.

      2. jacob2

        Yep, the chart looks about right. Gold and commodities not a bad place to be particularly if you think the sm in for a sizable correction in 2018.

        1. Gary Post author

          Unless the stock market chart starts to look a lot more like the Bitcoin chart it’s going to be way too early in the multi-year cycle for a huge correction in stocks.

          1. jacob2

            Yes, still a secular bull but given all the upside in the sm we’ve had there’s usually a reaction in the opposite direction. Due for some cooler weather.

        1. Gary Post author

          Oil still needs to reach my $60 – $62 target before I start looking for a pullback into an ICL.

          1. carlvan

            Most people seem to think gold has to continue to move inversely to stocks but more than often than not gold has been moving in parallel to stocks; so I can really see gold and stocks moving parabolically from now

          2. Gary Post author

            I can see stocks going parabolic but gold is way too early and its bull market to start a parabolic move. That will come once gold breaks out above 1900.

  26. ted

    After some research, I have concluded the sell off in the cryto’s this week was a needed correction but DEFINITELY not the top. In fact, I am buying more DASH and GBTC. Those of you that follow my choice, will be happy in 2018-2019. This thing is just getting going!

    Thanks for picking the bottom Gary!

    1. Gary Post author

      Actually if you had listened to me you could have avoided a 50% draw down on your position. And if this turns out to be the top you are going to lose all of your profits and probably all of your initial investment.

      You clearly have no ability at all to control greed. There is no level that will ever be “enough” for you.

  27. wifesaidnomoretrading

    Gary, I believe you are a good person to continue posting Bitcoin videos as maybe some will have enough left after bubble to make a quality decision and become a subscuber to SMT as I did earlier this year…. ultimately I have no money in Bitcoin and like you I am all of a sudden hearing from old high school friends and college mates that have in most cases 100% in crypto and diversification to them all of a sudden means no equities no commodities but Bitcoin, Ether, Litecoin, Ripple etc… even tho I would like to see a top it has all the signs of a classic holiday reversal… I’d like to see a top as much as you do so the euphoria can be over with, but don’t get me wrong unlike many I will not be happy seeing close friends lose money… I’ve seen other ppl in leveraged funds turn 500%+ gains into losers since they miss the top and it goes down to quick for the to be okay with cashing out having missed the perfect trade… so for the record I think it’s near impossible to call a top and I still struggle with the idea of whether to classify each Crypto as a stock and the whole crypto is the bubble meaning many will go to zero and even the ones with a future could crash like all of tech in 2000-2002… hell im a MSFT shareholder for the last few years and we just made new highs ealrly-2017 over the 2000-highs with a reduced market cap and a staple of the American economy w leading Software and Xbox, albeit having made some poor decisions that caused the extended consolidation. So if tech can lose 80% top to bottom meaning quality companies were 400%+ overvalued then how could anyone be confident that a more speculative asset could be 950% overvalued… it’s easy to see if you’re not in but once you get big profits the blinders come on, you are right and everyone else is wrong and trying to trick you out of more profits and an early retirement or whatever goals that have been set in this euphoria phase… it is wild because so many ppl I would’ve never thought could make such a risky decision are getting the craze… the most unsavvy ppl I know in terms of finance are getting in so we are close but in the long run maybe there are a dozen of these that rise from the ashes but can easily go down 80%+ and take years to consolidate just as we saw in 2014… maybe do a video and tie in the last bear market, and ask the hard question to those holding… would they have been able to hold through even a couple year consolidation if bought close to 2014 top… or did most everyone get impatient and sell the bottom because the believer in returns more than the concept…. just my two cents… thank you for your holiday spirit… good karma for you Gary and every enthusiast bashing you is stacking up bad karma like all-you-can-eat flapjacks @ iHOP… I personally think selling strength is the hardest emotional move to make, buying dips is much easier… so I will say a prayer for those involved to take a lesson from Litecoin founder who is a legitimate man and somehow was able to control greed, maybe because he was donating all the profits anyways… but ppl cashing out for retirement have no chance of controlling greed… it’s been too good to them so even though I’ve always wanted a friend w private island… I fear the worse as a student of history… fun fact recent survey shows 77% of Bitcoin holders believe 2018 returns will beat 2017 returns and plan to increase position every paycheck they get… its classic behavior and scary…. most importantly… Merry Xmas Happy New Year to all. These blogs you can use to make better decisions but most rather confrontation than collaboration and explanation… it’s human nature which Gary has one of the most impressive perspective of how emotions factor into our modern day markets… which is why he’s my guy and I’m more than happy with returns well into double digits this year using my interpretation of sound advice….

  28. palobar


    The latest that Gold can stay in this basing phase is Sep’2018. I am very confident about that. Gold has put a short-term low whether it will be of importance that will stand out in the chart later, time will tell. I am not convinced that this was the final low (higher low), but I could be wrong of course. If that is the case, then it should move beyond the 27 DECEMBER (which will be very positive), otherwise, we may get a high around that date.

  29. shiva1968

    “The greatest crash in history?” Come on now. BTC is down a mere 25% from the top and the crypto market has a tendency to do this once per quarter. BTC still up over 100% from just one month ago. Many of the top coins by market cap such as ETH and LTC are down even less from their recent tops. That said, the crypto market is not something you bet the farm on. It’s a highly volatile sector that is not for the faint of heart. That said, there is nothing wrong with allocating a small % of ones portfolio to this sector and it can be traded just like any other market.

    1. Gary Post author

      Do you understand how regression to the mean works? I call it the rubber band theory. The further any market gets stretched away from the mean the more violently it will move back in the other direction once the buying pressure or selling pressure is exhausted.

      ALL assets ultimately must succumb to the forces of regression. No asset in history has ever been able to defy this forever.

      Until recently the Tulip bulb mania was the largest bubble in history. When the crash arrived it for all intents and purposes went back to 0.

      The next largest bubble was the south seas bubble. It too went back to virtually 0.

      Bitcoin is now the largest bubble in history. The law of regression will demand price drop a proportional amount to how big the bubble was. This is why I keep warning people that when the bubble pops bitcoin is going to lose 95% or more of its value. Most crypto’s will simply fade into oblivion, similar to how most tech companies went out of business after the bubble popped in 2000.

      I tried to warn people in 2006 to sell their houses at the top. Only two friends listened to me. To this day they thank me that I saved them from getting caught in the crash. Every other person I tried to warn ignored me. I think you know how that worked out.

      I’ve tried and tried to warn bitcoin traders what happens when a bubble pops. I’ve spelled it out as clearly as I can. To make money in a bubble you simply HAVE to control greed. At some point you have to quit raising your targets and just be satisfied with what you’ve made. Understand that it’s impossible to pick the exact top and just decide “I’ve made enough”.

      If you can do that then you will walk away with gains.

      If you can’t and you just see every new high as proof that price will never come down, and ever dip is just a temporary setback on your trip to fortunes unheard of then you are going to get caught at the top when it comes. If it came last week then you can see how quickly one can lose a massive chunk of their profits.

      If bitcoin just continues to drop next week traders will lose even more of their gains and probably start to lose their initial investment. Then it just boils down to how long will you remain in denial as you watch everything you have fade away?

      Make no mistake, bubbles and parabolas are the single most dangerous financial markets, they are never a free trip to the money tree like so many people believe when they are in them.

      Seriously folks, how many get rich quick schemes in history have ever panned out? The answer is none. The real world doesn’t work that way.

      1. Jim Dandy

        Wow, it amazes me that Bitcoin holders say ¨but Bitcoin is still up 100% in the last month, so the 25% pullback doesn´t mean much¨- That is total, crazed greed talking, when they can´t even think that 100% in a month, and thousands of percent this year are not way outsized gains and probabilities dictate that won´t continue. Screw probabilities, when did they ever come into trading or investing!

        1. Jim Dandy

          LOL, and Bitcoin ¨finished¨the week önly down 25%, totally ignoring the fact it was down 50% at one point. You can´t lose 50% a week for more than 2 weeks, so at the worst this week they lose everything in 14 days, and at the more favorable önly 25%¨, they go broke before the end of January. Simply amazing they think it cannot possibly happen when it already is.

          1. Gary Post author

            Bitcoin has had a small bounce today. Investors could sell now and walk away with great gains. No more risk of getting caught when the bubble pops. Just a huge huge win.

            But how many will actually do it? How many can just be satisfied that they’ve made enough? I’d say almost no one. Greed doesn’t work that way. We always want more.

        2. Gary Post author

          During bubbles investors lose all touch with reality. How else could one justify paying more for a Tulip bulb than the price of a house?

          We will look back someday and think the same thing about bitcoin. How in the world could anyone pay thousands of dollars for an imaginary coin that really has absolutely no value other than a greater fool willing to pay more for it than you did?

          1. Jim Dandy

            Nice call so far, bcoin has turned lower again already, gonna be a long weekend of hopium for the longs. What is worse, most selling of investments doesn´t take place until the new year for tax purposes, but somebody can´t wait another week to get out of cryptos! Charlie Lee, for one. I noticed he didn´t buy other cryptos with the proceeds, he just cashed out of everything.

          2. Bob

            I’m surprised people weren’t out destroying the tulip fields to try to retain the value of their future’s contract – to be paid with a tulip.

  30. Cybo33


    What kind of run in gold and the miners are you anticipating by early spring? Do you think we can hit 1900? How about JNUG?

Comments are closed.