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I'm not convinced. How low are we talking here?
Double digits!
Can you believe your luck?
How low? I don't know. I'm just preparing mentally for the fact that the price could re-test 166, perhaps even break through that support and then, who knows?
Double digits seem outrageous right now, but there are many scenarios that could cause such a drop.
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I used to always say that phrase "low as possible, long as possible" with the assumption that bitcoin will someday, ultimately succeed, resulting in a price well over 10,000 dollars. I'm not as confident that that is a safe assumption anymore, but, at the right price, I still think it's a good bet.
For example, let's say price hits 100 dollars. I still think there's a 50-50 chance it will either go to zero or bounce back to 200. That would be even money if those were the only two possible outcomes, but they are not. Zero is indeed the absolute bottom, but if it were to bounce back to 200 there is no reason it couldn't continue to 300 or 400 etc...
The fact that the downside risk is limited, but the upside is unlimited is the reason I continue to hold on.
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