Contagion is yet to play out, you’re right in suggesting a potential domino effect. I have a stack of fiat waiting. I still think this goes lower. Who or what entity is next to get REKT? What odds on it being Saylor?

Natural gas prices in EU will go even lower before inflation tsunami sweeps everything in its path. EU countries consume less natural gas because EU industrial production consumes less natural gas. EU industrial production consumes less natural gas because EU industrial production is no more. Welcome to the Stone Age, imbeciles!

Stop this merit farming shit. Its annoying.

Doom

waiting for Chart Buddy to signal the end of the bear market like

Don't think they will continue with the interest rates increases for much longer. Maybe they will get to about 4 or 4.5% tops before pivoting after which we will see a massive rally in all markets.
There will still be inflation but that will help markets also.

One key driver to the economy (at least here in the UK) is the housing market.

From what I've heard that is already getting stuck in its gears, regardless of recent news articles saying we have had 15% year on year house price increases.
Those were July figures based on sales agreed back in Feb / March mostly, well before the majority were concerned with energy increases, inflation etc.
Many of us here saw it coming, but the average Joe only heard about it much later.

This is a reflection of the state of mind of the people. People are sick physically and mentally, desperate, resigned to inflation, poor health care, the threat of world war, and have lost faith that anything can save them. Even here we don't see optimistic posts anymore. Yes, it's all a speculator's paradise, robbing the weak hands of their bitcoins for a pittance. The situation remains dire indeed and for the first time in Bitcoin history we have had 10 months of non-stop crashing without a rebound. It is very likely to last at least a few more months until the weak hands run out. But that doesn't mean it will be ten years or so before it returns to 60K+ levels. Bitcoin is not like gold and can easily and quickly catch up any lag. And while there were voices before that 20K was accidentally achieved due to the short stay in those levels, this cannot be said at all for the 60K+ levels where the price stayed for months. So this price is totally achievable, from where we can also expect the 100K+ to come true within the next 3-4 years.

Upside down world:

• BTC keeps going lower even in the face of ridiculous fiat inflation
• Fiat inflation is supposedly Putin's fault even though the west printed ridiculous sums of fiat out of thin air for years.
• The G7 / NATO and its silent allies actively want to have a cold war
• Ursula von der Lies joins the G7 even though she doesn't represent a country and no citizen was able to vote for her and they continue to talk about how we must
  impose democracy on Russia
• You vote conservative in your country and you keep getting bashed with ridiculous green policies and increased taxes
• Clowns and demented imbeciles are our leaders
• Propaganda media outlets keep bashing Russia whose leader talks far more sense than any of our pathetic clowns
• The Russian ruble keeps strengthening despite suicide sanctions and restrictions. All other currencies against the dollar are deflating even faster than the dollar itself.
• Western leaders promote economic migrants even though there is supposedly no space for us already (see increased taxes) and fuels illegal people trafficking. immigration has been sold as a virtue signalling option to supposedly help the poor in other countries. The reality is the real poor in those countries can never escape. Only the strongest and usually they are young men.
• Upside down policy example Netherlands #1: Farmers need to close their business as they are too polluting. The entire country was founded on farming!
• Upside down policy example Netherlands #2: You will soon have to pay for driving each kilometre, even if you drive abroad. Who in their right mind thinks that's fair AND you will still need to get an EV no doubt.
• Upside down policy example Netherlands #3: You will need to install a heat pump because gas is simply too polluting even though much of the Dutch economy was built on using and exporting gas.
• Upside down policy example Netherlands #4: The leader literally said "Ukraine's war is our war." even though citizens firmly rejected closer association with Ukraine in a referendum years ago.
• Upside down policy example Netherlands #5: Gas and everything is too polluting and citizens will have to pay but in a general sense because of the sanctions on importing Russian gas and the evil Adolf Putin burning coal will be fine if required.
• The general consensus appears to be carry on and just do more of the same of the failed policies.
• The CIA appears to be in control of the USA and in fact much of the western world. Puppets in the form of diaper Biden and Kameltoe Harris appear to be so incredibly stupid, pathetic with race baiting and ultimately hypocritical, this bad leader joke thing is just sad to watch for me. Boris Johnson is no better.

Unbelievable.

 

I'd have to agree here also.  I sometimes either scroll past or just skim the really long posts, but JayJuanGee seems to pull them off rather well, somehow.

Are we on a slow climb?  Is 17593 really the bottom?  I think only Captain Hindsight really knows.

Quick review from some polls I stumbled across from @bitcoin. Not a fan of the twitter handle, but thought these were interesting to reflect market sentiment over past few days...



To summarise, ~60% think Bitcoin will close June below $20K. Only ~40% think BTC will close above $20K this month. 25% think price will close below $15K!



As of $20K prices, over 60% think Bitcoin hasn't yet reached max industry pain.



Again, the majority think Bitcoin will reach $15K before $25K in next three months...

---

The reason I reference this, is because most Bitcoiners and traders get it wrong. Most thought $30K wouldn't break, but as soon as it did, those people were all expecting ~$15K prcies.

Assuming most voting in this poll get it wrong (again); Bitcoin closes June above $20K, the industry has hit max pain already and we'll see $25K before $15K  

At present, based on current price action, I think this is fairly realistic. My personal benchmarks for this type of reversal would be the following:

1. Closing today above $20K (roughly 10% below the 200WMA which wouldn't be a disaster). Ideally above $21K consolidation, but can't be too hopeful.
2. Closing next week above the 200WMA (which will be $22.4K next week). Reclaiming $20K would likely achieve this I think, especially $21K.
3. Then trading towards $25K the beginning of next week, before a correction, in order to close June comfortably above $20K.

Going to try and present some short and longer-term TA to explain this as there are some serious volume gaps both to the upside and to the downside at present.

Jenkem for me  

lucky you, sniffing glue is all i can afford now