By the way the slow migration up will break at some point and cause some short term upwards explosions in price that end up crashing back down before we really know that we are really heading UP for good.
Jay, don’t you think it’s weird that the cycle seems to repeat itself. We’re following the same pattern from bear to bull markets. I feel like we’ve been here before which is because we have
I certainly won’t be complaining if we make the same kind of gains in price from 2014 Gox induced bear market to 2017 bull market in this cycle.
I am close to perfectly with you on this LFC, even though I tend to want to hedge on the conservative side and NOT to take any exact things for granted, until it already has happened.
Anyhow, I am not betting the farm on BTC because I feel that I have already made a lot of BIG BTC bets that have paid off way more than I ever expected.. even though I was not betting the farm, back then either. By the time we got to 2015, I felt that I had already taken a large enough stake in BTC in terms of what I was planning to do with my overall percentage allocation. However, since my BTC holdings were in the red (most of the time from 2014 and on and increasingly so by the time we got to the end of 2014), thereafter in 2015, I was largely dedicating any and all free cash that was coming in on a regular basis to BTC without taking away from my emergency funds in fiat and my other fiat-related investments (Of course, I may have skimped on buying a coffee here or there or I may have eaten in rather than eaten out from time to time, too).
So, yes, if the exact same pattern ends up playing out (and I certainly would not be surprised, even if I am not taking it for granted), then once again, those of us who are continuing to stack satoshis and to HODL them are going to be laughing our asses to the bank when the nocoiners, the fence-sitters, the bitcoin naysayers again are sitting on the sidelines (
deja vu) waiting (and waiting) for new BTC price lows that never end up happening.
So, even though in current times I frequently talk about "bearmarket" and all that bullshit, because I believe that is our current short term BTC price dynamics state of affairs, and that is where the probabilities lie, I am more than adequately prepared for UP, again. I am kind of in the close to 97% to 98% bitcoin arena.. so I don't have a lot of fiat to play around with in terms of buying more BTC... except as extra cashflow here and there comes in from time to time. Currently, I also have BTC buy orders down to about $2k that I hope will never fill.
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