I honestly hope that there are no cheaper entrees anymore for them who where not willing to buy at 70-80% down.
I sunk a nice piece of change back in btc mining gear. More than an entire btc.
I used a cc. Got 15 months interest free. Did buys of miners in sept oct nov dec and jan.
I also got three dips in Nov and a Nov DCA every Friday.
So far so good. Be nice to see a true rally say 30k and then a nice flat strech.
Bitcoin no doesn't work like that... It does not like to be told what to do, nor to tell it when to do it, but it does not mind if you look at the charts after it did what it is going to do in order to try to describe what it had done.
It seems that some folks have difficulties merely describing historical performance.. so how are they going to get future performance correct with any degree of specifics?
When I say it's going, you say down!
it's going ?
Down.
Note: One of the challenges is that it does not matter what "we" say in regards to what the price of dee cornz is going to do.. since It may well be the case that king daddy will just end up doing the opposite, merely to teach uie-pooie a lesson.. even if many of us already realize that uie pooie may well not be teachable.I do believe that this rally signals the 15.5K bottom, but I do not believe the market will just run away and leave me behind. Inflation or Recession or Both!?, these are the options people... but sure drain oil reserves to make CPI print look ok for a minute that'll save us! ... it's going to be a tough year for markets bitcoin included.
Does not mean that it is a good idea to short it when the BTC price is about 75% below the November 2021 top and also about 31% below the 200-week moving average. That does not seem to be very smart.. even if you might be able to keep doubling down on your dumb bet until we get to $50k.
So if the economy really *isn't* fucked and things *are* ok overall then we should start seeing 10k jumps in a day, then some selling, then another 10k jump. We shall see.
TLDR: Maybe things aren't fucked, and we have been sold a bill of goods called DOOM!!!!!
Macroeconomically I still think things are f'd in the US of A. Without a diligent and fierce Volcker approach to crush inflation, it continues to fester. I do not mind this, and maybe the "new" paradigm for world economies runs on inflation/debt to fake growth as the depopulation plateau begins to show its face here on earth. So legacy finance cooks the books harder than ever, and the Fed tip-toes letting inflation rest around 4% indefinitely. The CPI is misleading as is, and it is getting changed for... reasons.
The other route is the hard one, and we will have to see bitcoin live through a true (not flash) recession/contraction.
There are many things I like about btc, but one is that it's my bet against the FED, the WEF, the IMF. Watching FED fumbling inflation has been a pleasure
I feel that I don't really agree with your analysis cmacwuz
(even though as I typed more of my responsive post, I ended up having some difficulties articulating the extent to which I am having "troubles" with it) but I sent you a merit anyhow with a hope that maybe you will participate more (in this thread, for example) in order that some of us might be able to tell you the various ways that you seem to be wrong.
On thing it seems as if Powell is trying some 2022/2023 variation of Volcker's approach, and it seems difficult to conclude that he is not having quite a bit more success than many folks had considered to be even possible.
Another thing is that even though I kind of understand and appreciate what you are saying, I doubt that bitcoin is a "bet against" the various status quo institutions that are fucking around with the money and their various demonstrations of desperation... For sure it seems that bitcoin is going to continue to contribute towards providing an Opt out of those various corrupt systems and likely a lot of current bitcoiners would likely devolve into some level of crazy if they did not have bitcoin as an option that can offset the craziness that seems to be going on with the unsustainable monetary matters in the current system.. even though surely the current system might still be able to continue to deceive normies into believing it is working for a few more cycles.. though the extremes are already pretty bad and pretty desperate, so they might consider that they are going to have to play harder ball, even though it is kind of difficult to understand if they might actually be able to pull off the lack of system collapse, which they might be considering to be the "softlanding" that hurts some folks more than others.. but gosh, I would hate if we really did end up going into Armageddon.. which could happen if we wish for the demise of status quo governmental and financial to happen too quickly.
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