Originally Posted by crucifissio

the problem is only the top 10 exchanges are regulated the other 1000 are not...the regulated exchanges are not immune to the effects of arbitrage and what ever artificial pumps or dumps happen on the other exchanges will inevitably affect the price on the regulated exchanges...

an interesting development is that bitcoin sentiment is at 2017 levels...it is extremely high at the moment...to tell you the truth I was not expecting this...so many fresh burns and it still manages to rise much sooner than I expected...in the macro time frame, this rally is too soon and too steep...again, in the macro time frame, this is a perfect B wave in elliott wave theory...wave B can even reach level A but then comes wave C that is often the real bottom...I do not claim elliott wave is the holy grail but on a macro level it is often right and lots of markets follow this exact pattern...

5 is the 2017 high...A is 2018...B is now...C is the NEW LOW!...