7k tonight?
Looks like you be in a process to rejuvenate some optimism, here?
We had witnessed a few hairy days, in which you had revealed some kinks in your
BTCxxx
BTCxxx armor.... hahahahahahaha
Please sir, never a kink. Just thought the Baby Bull would have a healthy correction to 4200. Still think something of the sort is in the cards, but why not hit 7k first
Fair enough. A large number of us regular monitors of the BTC price dynamics recognize that 30% or more price corrections can happen at any time, and also can happen when we don't really expect them to happen.
One price dynamic that we BTC HODLers have going in our favor have been a kind of slow upwards movement in BTC's price in the past 5 weeks or so. Of course, there have been a few spurt upwards, but there have also been several baby corrections of 10% or more that allow more fueling for upwards... allowing the buy support to catch up with the price as it goes along. In other words, the near inevitable corrections of 30% or more can be staved off through more gradual upwards price moves that contain smaller levels of correction and seeming stagnation along the way. In that regard, whether we get to $7k first or even $10k first, none of those upwards price moves are beyond
BTC.... especially if she thereafter engages in a kind of blow-off (UPWARDS) mini-top... that can sometimes cause a near doubling of price in a matter of days or a few weeks.
as the Bitfinex troubles keep pumping the price.
Personally, I understand that Bitfinex dynamics plays some role in current BTC price dynamics, yet BTC is no one trick pony, so I find it quite problematic when any poster (whether bear, bull or otherwise), gets caught up on narrow explanations for what causes BTC's price to move.
Only a baby for 2 more days, May 8 is coming
You can describe matters however you want, yet bitcoin market status remains a function of both time and price dynamics, and no one thing is going to cause any kind of definite label - no matter how much you become focused on repeating that kind of message.
It seems that a few days back, I have already conceded that my delay indicator status has already transitioned from "bear" to "bull" market status.... So, my current numbers are not exactly strong, but I am at least in the 51% to 52% arena that the bottom is "in".. which contrast with my position from a few weeks ago that put those numbers in the sub 50% arena.. which even if we go flat for a while, it seems that we have spent enough time above certain ballpark BTC price thresholds that are in my mind in order to transition probabilities that the bottom is more likely "in" than not.
You have made a decent assessment, there, and I suspect that you are correct that we cannot always expect justice to win the day - even when decent factual presentations and arguments were presented by Bitfinex.
I suspect we keep pumping hard as bulls are taking advantage of desperate customers paying a premium to pull out their Bitcoin
I doubt that bitfinex customers are as desperate as you are making them out to be. Of course, certain ongoing negative news events can cause them to panic more regarding whether bitfinex is going to be able to get out of this particular pickle while not overly prejudicing their customers along the way.
, then when everyone who really wants out is out, we correct.
Again, you seem to be attempting to hang your hat (perhaps the one that you are not wearing?), on single theory explanations, and as I already mentioned, a lot of us already know that corrections can come at any time and for a variety of reasons, including that buy support is no longer sufficiently supported (which can cause a change in the momentum and price direction).. that could happen in this sub-$6k price territory, or around $10k or at any point in between, and not necessarily some one factor cause.. even if news media sometimes tries to engage in that kind of bullshit explanations about why BTC's price is moving UP or DOWN in the short term...
No way in hell is this Bull market ending rn though. This party will last years imo.
Of course, one main thing that mainstream media tends to miss remains bitcoin's strong underlying fundamentals.. which many longer term HODLers come around to appreciating that aspect of bitcoin.
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