It appears that the "Strategic Bitcoin Reserve" has gone from a supposedly imminent federal government initiative to a Steak 'N Shake marketing gimmick. Meanwhile, MSTR has been on a steady downward trajectory and "Uptober" fell flat on its face. All this while gold and stocks have been on a tear. Are people just getting bored of Bitcoin?
DCA'ers love boredom! We just hit a new ATH 3 weeks ago!
It's going up forever, Scorp. Zoom out!
Bitcoin has been fairly flat since May (5-6 months), but at least is running flat at a high valuation.
retail traders are bored with bitcoin
gold and stocks are sniffing out the big print that is coming
a lot of bitcoin selling, possibly because sentiment is that we've peaked for the 4 year cycle? I am just wildly speculating on that...
Steak n Shake is going in the right direction - they sell beef talliow, and are eliminating all seed oils eventually
Totally. What's more, who cares unless you actually know his cost basis. And even then, I'm pretty sure millions, tens or even 100s of millions will change nothing in his life. It's moot, many forget that. The scorecard of the US dollar is silly. Look at guys like Cuban, even Buffett, many athletes, etc. In "real life" are they 1M times more value than you? Haha, of course not.
I like this as a gauge for capitulation. Many are "bored" indeed and regarding MSTR, I've explained it, they can't accumulate as much BTC/share now just on pure size, so the key now will be BTC price (will allow for greater accumulation compared to now, AND volatility will return = options guys come back) to move things. THEN you'll eventually see it settle and people will be buying the STRC and others in large quantities. Patience.
Yes, this is classic for several reasons, and the .gov shutdown made people even more impatient and generated increasing loss in faith. It's a perfect setup for many to sell and then we get the November/December big run which will flip them, frustrate them, and then the FOMO comes ...
I avoid this thread because I don’t want to encourage gambling behavior on a Christian forum but there is a chance BTC corrects to at least 74K through my TA system esp if we close major candles below 100k
For those that bought in at 16-25k congrats!
For those that bought in at 16-25k congrats!
Don't worry, investing isn't the same as gambling. When you buy Bitcoin you're investing in an asset that will appreciate for years to come. No different than buying real estate or gold and timing the market.
it would be nice to go back to $74k, but I wouldn't bet too much on it...DCA is the way
What probability do you think it goes even into the 70s?
I use price action to determine so from my TA, there is demand at 101.4 - 99.6. If it loses that demand, there is nothing but liquidity and inefficiency below that could make it a violent move down to 74k.
If history is any indicator the next trough can be well into the 70s - ? So far it had been cyclical. What can trigger next downcycle, though? Tight finanicial conditions - not expected, the opposite, only sharp jump in new inflation could trigger that I think, but inflation is mre steady now as they had accepted it as a norm now I think. It will be print baby print by all chances. What else? Other than some nevative legal climate or law enforcement action, which is not likely to happen during the next 3 years while Trump is in the office. So it doesn't look like next downcycle is close
Ok, now you can answer the question, look again.
Yes, that's why you shouldn't worry that much because even if it goes to 80k, let's say, which would be very unexpected - if you know what it is - you also welcome that. 1 BTC will be 1 BTC always. The dollar isn't, nor is any other fiat, so that's what is going on, superimposed with the crowd getting excited by a monetary asset and thus trading it as something volatile.
Big move up for the orange coin in mid to late November and booming in December to January. FOMO will come.
This is the time when you get paid, most are worried and FUD is out, hold your nose and know what you own.
This is the time when you get paid, most are worried and FUD is out, hold your nose and know what you own.
And now for a special message to all, but in particular to my friend @Johnnyvee with that thumbs down button: