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I would like to start by talking about the sentiment analysis, which in my opinion is more important in the cryptography market than in any other market, I have been observing this in my 6 years experience on Crypto Currencies trading.
Fear, uncertainty and doubt (FUD) are part of this market, I have been investigating this for a long time, every day I use the social networks to map the feeling of the community to use it in my analyzes. This has given me good and bad indications over time. In every new FUD released in the media, we see a big capital outflow, and few ventures to invest in a fearsome market. The good side of all this is that we are kicking out the weak hands and getting stronger with the carriage ride.
I am very optimistic in the long run, even with the current market conditions, the weak holders cannot see the structure of the market they are in, the conditioning and the psychological state do not let them see beyond the lines, It does not allow them to see where this market will drive us in the long run. It is natural that in every market there are good and bad times. If you can not deal with volatility and dives, then get out of the market and stay out because this market is not for weak and emotional people, if you do not have a strong psychological and if you are not open to sudden changes, you will be devoured alive!
Only the strong will keep their investments, they will buy down on the lows when everyone is scared. The strong will benefit when all the weak, frightened, and emotional abandon their positions by surrendering to a FUD. Remember that at this point I will be there buying.
Before talking about the BMI, we would like to let you know that not everything is lost for the emotive ones, we have a solution:
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The BMI (Bitcoin Misery Index) was created by Thomas Lee, a Wall Street strategist and co-founder of Fundstrat Global, BMI measures bitcoin price consistency (+ 7.07% over the last 90 days), using the end of the day plus volatility, the results are given on a scale of 0 to 100, where 0 is “totally miserable” (bitcoins holders are willing to distribute all their bitcoins) and 100 are “totally happy” (where no price in the world would be enough to sell your currencies).
In this 6 years on the crypto world I have noticed and confirmed that sentiment is very important in the market analysis, we also use Google Trends to analyze the sentiment of the market based on what they are searching for.
Access our website and see our Technical Analysis and Fundamentalist made for Bitcoin: https://infocrypto.com.br/bitcoin-analysis-update-d1-12-03-2018/
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