So we’ve dipped below $19,000 again. I guess we’ll find out in the next few weeks which way we’re headed. I just can’t envisage the price bobbing along at $19,xxx for much longer.
Feels like we’ll see a significant move in either direction soon. Maybe it’s just me?
No, you are not the only one having that feeling. I also looked at the previous chart to find a clue as to whether is this the bottom or not. One thing I noticed in every bear cycle is that BTC prices never stayed at their bottom for a long time. This indicates that this is not the bottom. We are between 22k to 18k for a very long time and I have a feeling that more dip is ahead. There is a negative and a positive side to it.
Negative: Another major crash ahead.
Positive: End of the bear market.
Just because the BTC price has failed to go up for more than 4 months does not mean that a further bottom is necessary - whether or not there are further serious attempts to actually reach or surpass our current bottom of $17,593 from mid June.
If you might recall January 2015, BTC reached a bottom of around $153 (which had been coming down from $1,163 in November 2013), and then we spent about 9 months dickering around largely in the mid to lower $200s - with only one time in July getting up to $317-ish.. but then another pretty strong shot at getting below $200 that did not work.. so what happened to all the fuck twats who were predicting that another test of mid $100s or lower was inevitable..? Answer: they got stuck with their pants down, and likely did not buy back in until around $500 and they might not even had been able to get back into bitcoin that low because they ended up having more confidences regarding further fantasy dips that did not end up happening.
So, yeah, you can play around with your wishful thinking theories that another test of down is inevitable, and it may come, but it might not.. it is not as inevitable as you seem to be making it out to be... good luck in your preparations for down that you do not fail/refuse to sufficiently and adequately prepare ur lil selfie for UP, too.. if you happen to know how to prepare for both BTC price directions at the same time?
Imagine being asleep since Dec 10 2017 (5 years minus less than 60 days).
The price is almost identical.
That probably was the LEAST expected outcome back then, right?
No one was predicting it.
Dumb trolls and disingenuine posters like to emphasize those kinds of bullshit points.
I see that the 200-week moving average was just barely over $1,100 in early December 2017, and today the 200-week moving average is aboout $23,700, and likely the 200-week moving average will be above $24k in two months.. since the slope is still going up, even though slowly.
https://www.lookintobitcoin.com/charts/200-week-moving-average-heatmap/My point is that we have NO idea where the price would be in another 5 years.
Another 19184? That would be crazy.
Hoping for a 500K per btc.
We don't know with confidence where the spot BTC price is going to be in 5 years, so we should not be assuming anything with precision, but it seems quite likely that the 200-week moving average is going to continue to move up.. which likely means that the BTC price is going to get back above the 200-week moving average.. and of course, no guarantees.. but it seems to be good to be investing in bitcoin.. it has decently good chances to outperform other investment options.. .. maybe the question is where are you going to put your value if you don't put it in bitcoin.. at least having a decent stake in bitcoin (rather than a whimpy stake) so that you will likely be in a good position to be advantaged by bitcoin's ongoing upside potential and ongoingly strong investment thesis.. even with some down times like our last 6 months or so.. .
. and yeah could be $500k like you mentioned.. or we might even have supra $1 million or even supra $10 million prices somewhere in the next 5 years.. even though those kinds of market caps might not be sustainable... because yeah a $500k market cap puts bitcoin pretty close to gold's market cap, and many of us can appreciate that there are some decent arguments to suggest bitcoin to be around 1,000x more valuable than gold.. even if it could take a long time for bitcoin's spot price to reach 1,000x of gold's market cap..
Is that what you are going to do when your 20 BTC are worth $200 million.. ? Maybe 10 years, but maybe longer than that? Gosh can we expect to live until we are 85 years old? Hopefully we can spend some of it along the way... and we might not need to accumulate that much.. I mean it might be o.k. to just start to draw from your bitcoin when your stash is around $2million to $10 million rather than waiting until it is worth $200 million.. at least seems to me.
There seem to be pretty solid strategies that any of us should be able to employ in order to not worry about drawing from our BTC along the way and still be able to continue to allow our BTC to grow too....
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