The price of bitcoin will not stay above $20k for more than 1 month ever again. Guaranteed.
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The amount of time we are taking on these levels which are below 200 MA is what scares the shit out of me.
+1 to that. But to be fair it is a weekend. Which is why they dumped in the first place. We were already in a channel more or less under 200 WMA, between about that and ~10% below. IMO, it had been doing that for long enough to be teetering on borderline breakage. I had been hoping for a scenario like August–September 2015—scraping along just below/just above for a month, then recovering. At this point, since we crashed even below the previous cycle top (even in nominal dollars, never mind real value!), I think that 200 WMA is quite dead. Not “Bitcoin is dead”: Excessive reliance on a technical indicator is dead. Gold had a two-decade extreme bear market. Anyone who bought gold at the wrong time had to wait an awful lot longer than four years to be not underwater. I also think that was a politically motivated economic attack, though I don’t want to get into off-topic discussion here that will derail into other matters. (I have mentioned this in some prior post, a few weeks ago... Something about gold-producing countries under international sanctions.) Only fools declared gold dead. Smart people bought gold as low as ~$260, not so very long ago. If we can escape from erroneous thinking about Bitcoin as “like a stock”, and really start treating it as digital gold, then there is ample precedent for shrugging off much worse crashes and bear markets than I now anticipate. As bad as this one is. Even if we are still nowhere near the bottom—maybe; maybe not; I am realistically pessimistic, but not prepared to make a call either way.
The amount of time we are taking on these levels which are below 200 WMA is what scares the shit out of me.
Low IQ Finds TA = Astrology. FTFY. As an inveterate pedant, I could not resist.  The previous cycle high was the *last* piece of TA that BTC chart had not violated previously. ... It was an almost religious symbol to some ppl. Now that violation has happened, individuals have to make their decision... either say: 1. ' this indicates some serious imminent unknown, so BTC is broken in some way' or 2. ' No form of TA applies anymore, so HODL as an act of pure faith' Gold historical comparison is a helpful justification for (2), which is probably the line most WO posters would take. Hmmmm... personally I would not consider the last ATH as having been broken, until it has at the very least been opened and closed below, by a long term timeframe (weekly at the minimum or above) |
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I do not see BTC going away.
I do not see "altcoins" or other cryptocurrencies, going away. (yes of course some will)
I see blockchains, taking over the world.
BTC has unique properties, and a unique value proposition, is the first to be adopted and built upon and has the most meaningful, network, and the most decentralised (though not decentralised or distributed enough)
Most other cryptocurrencies, are , not even trying to be "currencies" and are not trying to be BTC, and have totally different value propositions and totally different needs ....and require, in some cases less decentralisation to achieve what they are trying to do, which in 99% of cases is something totally different to BTC.
I disagree that the problems that some altcoins are attempting to resolve are unimportant or "too small"
I personally think, people should remember that they are different things, trying to do different things, and talking about them as if they are the same is a mistake (and this applies both to proponents and adversaries)
I for sure see a multichain, multi layer, multi blockchain, tokenised world, where I sincerely hope, more of the worlds middlemen are disintermediated by useful, blockchains.. I am here for that, so very very much.
IMO, interoperability and composability, are great.
I do not think that altcoins take away from BTC, not even that much as far as price is concerned (which it appears is most peoples real issue)
They are just not the same thing.
I want to see it ALL thrive and improve..... and, I would almost bet the house on the fact that the space, call it what you want, will continue to grow, and improve, and thrive...and yes that includes getting rid of the real shittiest of shit.
Personally, I would even be very interested to see what could come next, something which is even better than BTC... I mean, wouldn't that be something ? imagine that, something NEW that comes along and makes most BTC holders think, yes, yes this , this is even better... would you support it? I wonder how many would be able to see it even if it were in front of their faces.. I wonder how many would be able to be objective about it? (and would talk about it in public BEFORE they gained a meaningful position)
Anyways.... just my point of view.
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I am in utter disbelief we just shouldn't be here.  You are right. But markets give 0 fucks about that. I am just angry that every penny of capital I have either already IS bitcoin, or I need for my family and cannot risk, though the risk grows smaller and smaller. Same here, I got 5.5 btc and $10,000 left in checking. Maybe I should get one of those bitcoin backed loans to buy more bitcoin. The benefit of that would be you don't have to pay it back because the company won't exist anymore. |
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Off topic (on topic is depressing) Pro tip for today...
When ordering at a fast food joint and the server has a name tag like Chianti, Janelle, Phelipi, or Erez, (or some such nonsense),
has permanent, illegible bumper stickers plastered all over both arms,
is sporting giant hula hoop earrings, and you are hard pressed to tell what biological parts they are packing.....
....check your order before leaving.
mega lols I might be painting the kettle black here. After all, back in the day, I pranced around on a stage in retarded looking trendy eighties fashion wear, chain dangle earing, eye liner make up, and a jar of Dippity Do gel encrusted in my hair. (back when I had more hair on my dome than my ring piece). Yeah... back then in my naïve youthfulness, I was fruitlessly looking for validation too... Heh heh, your 1st post made me laugh.... because I know exactly what you mean. LMAO, have you got photos of you in your eighties styling ? wanna share ? , photos or it didn't happen |
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Wen shit the bed capitulation wick? (rhetorical)
heh heh
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the msm fud machine will run hot next week
Luckily enough, their credibility is at an all time low... |
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Wow. What a dump.
Have one outstanding order to execute at $18,500 before I load up more fiat for laddering down further.
I feel so fucking alive!
....and boom, that one will have now filled also |
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Off topic (on topic is depressing) Pro tip for today...
When ordering at a fast food joint and the server has a name tag like Chianti, Janelle, Phelipi, or Erez, (or some such nonsense),
has permanent, illegible bumper stickers plastered all over both arms,
is sporting giant hula hoop earrings, and you are hard pressed to tell what biological parts they are packing.....
....check your order before leaving.
mega lols |
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$3500
Nope, that will not happen again. I am talking about the price that Michael Saylor needs to cover |
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from 20500 to 19000 seems like microstrategy liquidation , anybody here know any news about them , follow the sound crying CEO.
$3500 |
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