Below is a post of mine that was deleted in another thread for being "off-topic," so I am reposting it here... because it would not be off-topic in these here parts.. and I believe it is an important point in regards to what some members might consider to be influencing (or threats to) bitcoin's current UPpity price pressures.
..... .[e-mail to JJG informing about deleted post]
Elon musk remarkable influence to bitcoin,Altcoin,Is incredible..hope he does not post any negative tweet about bitcoin soon,can't afford to loose now..
You are delusional if you believe that Elon Musk's tweets or any other narrow and single factors have much if any directional impact on the BTC price, even if they might be used as excuses or exacerbating events, but they do not control the bitcoin price in any kind of meaningful way.
Let's take what you may well proclaim to be your one example in May 2021. yes the BTC price corrected more than 50% in a short period of time (and stayed down for a few months).. but the BTC price had also gone up around 6.5x in the prior 7 months... so yes a correction was in the works.. whether Elon the dweeb contributing to exacerbating it or not, that dweeb did not cause the earlier correction and will not have much if any causal affect on any other correction if it comes, even if others (shadows in the caves watchers) might give him credit or he might claim credit for such price drops if they happen.
Full disclosure: Took profits @ $61k. Putting it into a joint account for Rick and myself to buy toys and equipment for the ranch, as things start coming online, soon. Feel bad that all the corn I'm selling is going directly into my accounts (feel bad about needing to give Rick my financial login info to reconcile everything for this project...), and putting this batch into the joint account for ranch needs takes a fucktonne of stress off the both of us. Really don't want to draw down on our existing fiat investments to support the ranch. Will consider drawing down on those as needed, after the ranch is built and we're living out there full-time - 10 years ish.
Next sell target set for $75k, then $100k, then we sit back and re-evaluate our lives.
Gotta buy ourselves one of those jacked up monster pickup trucks that are capable of traversing the entire ranch to start... then a tractor... Oh God... it starts...
Sounds like a lot of fucking hard work running this ranch, bro.
Even spending money can be a lot of work, and seems like no one else is going to really do that work for you, especially if you want to get what you want, and even if you could get the perfect personal assistant that actually carries out your wishes...
I sold some @ $61,400.
Not necessarily a bad thing to have some systematic sales, even if you might agree that it is quite likely that we are in "no man's land"... and yeah the price pressures are up, but if you don't sell too much, at least you are also covered for the less likely scenarios that we might end up correcting for a long time from here. Even I look at my sell orders and my tweaking of my sell orders, and I see that I could be a wee bit less aggressive on the sales of BTC and even modify them down a wee bit more.. but I still get nervous about doing that..
So my tweaks to account for what I believe might happen are pretty damned minor in the whole scheme of things - even though I believe that on the margins, I do end up accounting for some of my beliefs in regards to BTC price dynamics.. and largely if you are just playing a form of incrementalism (rather than all or nothing bets) then it probably does not really matter if you end up selling 1% for every 10% that the BTC price goes up (as might be the suggested default formula) or you error on the side of more passive formula such as selling 0.75% for every 10% that the BTC price goes up because you believe that there is a no man's land or you even might sell a wee bit more aggressively with a formula of selling 1.5% for every 10% that the BTC price goes up because of some material needs that you have (even if those material needs are merely to have some cash in your hands.. just in case and just for flexibilities).
Even from November 2020 to January 2021, I did not really feel bad at all to stick with largely my normally pre-scheduled sales amounts, even though I had decently high levels of conviction (maybe approaching 60%-ish) that we were going to be going through a noman's land of $17,250 to $23,500 and we ended up going through that noman's land from $17,250-ish to $42k-ish before correcting back down to the lower $30ks... and I am not even saying that I regretted any of my sales in those there parts... sure I tweaked them down.. but that tweaking down of those sales was pretty damned minor.. I recall that I largely made the spreads greater with a net result of the amounts sold to have been a wee bit smaller to account for no man's land, but really hardly anything that was of great significance... so the BTC price more than doubled, and maybe to give a kind of ballpark approximation, in normal situations, I would have sold around 11% of my holdings, but maybe instead for that same price period, I ended up selling around 8.5%.. which was still stacking a lot of fiat, and I have not gone through and made the exact calculations.. just giving some ballpark ideas about how I might tweak my behavior based on my expectations.. which is largely doing the same thing.. but just making some modest changes to account for some aspects of the probabilities of where we might be going based on where we are and where we have been (including attempting to account for the most dominant and credible of BTC price prediction models, too)..
Would like to see an ATH next week if i am honest.
None of us really know, but still it seems that the odds are pretty damned high that a new ATH is imminent, especially since we clearly have traversed into noman's land, so stop being so bearish with your short term sights set so damed low... hahahahahahaha.. .yeah.. we should have some pretty decent ideas that at minimum we have good odds of passing through noman's land and getting to $80k... and surely, I am also thinking that there may well be some resistance in the$80k to $100k territory, but who knows when momentum starts to kick in then sometimes those previously conceived resistance points become less of an issue than what we previously had thought.. and if we are stuck in a range such as $80k to $100k for a whole week or even two weeks, we start to conjecture impatience regarding going up and blah blah blah.. and of course, nothing is guaranteed.. and also sometimes we will still end up having some pretty drastic quickie corrections along the way to help shake some weak hands on the way up....
So, yeah.. does not seem unreasonable to pass through current ATH to plow new territories within a week or two.. but surely getting some kind of desperate dump might come into play, too... but would not likely mean that the desperate dump would be successful, except for shaking the dumpers from their coins... hahahahahaha
Poll
