Voted $40k+ in the poll (as a retarded hardcore permabull).
Meanwhile, got some pics of the upcoming 100k party from a time traveler.
Meanwhile, got some pics of the upcoming 100k party from a time traveler.
So frequently while going through consolidation periods (and corrections), they seem like they are taking forever to play out.. and yeah, maybe we need to stop pondering 100x or even 50x or 20x.. even though 20x from here ($30k-ish - which would add up to $600k) seems more than doable to me... even though it could take 4-8 years to play out - and I don't even have any problem with 20x playing out in 8 years.. (even though I might no longer be alive because even the implications of the picture involves pondering various health implications with the passage of time.
There may well be some difficulties getting our momentum to revert back to UPpity since we have fallen below the 100-week moving average (which is currently at about $35k)... so getting above that first and foremost might help to establish if the bottom is in.. and then moving further above the 100-week moving average might allow us to consider whether we have gone back into possible UPpity mode... How long will these happenings take?
Remember our little correction between November 2018 and then our reversions to UPpity that happened around April 2019.. that was about a 5 month turn-around, which does not really seem too bad, upon retrospect.. but those felt like a long 5 months while we were going through the process of figuring out if the trend was going to revert to UP....
I hate to sound like a bear.... so maybe I can try to frame potential optimistic reversals that might happen as quickly as a month to play out, but that seems way too optimistic so in that regard, we know that the worser case scenarios for reversal could take longer than the 5 months we experienced in the playing out of that 2018/2019 situation.
By the way, about a month ago, I had noticed that the 200-week moving average was moving up around $30 per day, and now it seems to be moving up around $15 per day.. so for sure lower BTC prices does contribute towards that 200-week moving average moving up at a slower pace (even though it does ongoingly tend to move up since the BTC price does ongoing tend to trade above it - at least so far in our 8-ish plus years of BTC trading history that has established a 200-week moving average in the first place (there needs to be nearly 4 years of prior trading history, just to establish a 200-week moving average)).
Oh my, crazy times we're living in - JJG turning into a bear, proudhon predicts $70k soon (contrarian indicator) OMG we're in trouble boys!