what's your guys prediction on how low we will go until a real reversal?
My worst case is in the lower 40k's
Hopium:
If I check the weekly I see a huge bullflag forming over the last half year. It looks quite convincing
Bottom of current channel is around 50k.
For a full bottom I reckon we see low 40s possibly high 30s. After that fed and gov start the printers and we have a repeat of the covid bull market. At the moment we're in 2019.
I have accrued a good amount of dry powder, waiting to use it still. Happy to not be able to use it though.
You seem to be suggesting that you are not going to mindrust, even though you suspect that others (who are not sufficiently prepared) could end up mindrusting in the coming down before up that may or may not end up happening.
Even though you make some decently good points, and even though you seem to NOT be calling for down, I cannot bring myself to merit such a downity prognosticating post, even though you might end up being correct.. Hate to see it.
It is funny (ironic, coincident or just that we are in a similar loop) that I quoted my below Darth Vader snips prior to coming across your image. Perhaps subliminal influences?
Feels like someone(s) working to push the price down again.
But what doing it? selling more than buying?
Who? I know that the who can start with manipulators, but if they can convince others to be scared, then the ones who started it don't have to continue sell their coins and they might even be able to buy back what they had sold to get the down process started. These tactics do not always work out successfully for the one(s) who started it.
How?
Feels like someone(s) working to push the price down again.
Bitcoin decreases harder than many shitcoins. Could be that a big entity needs money quickly, and can't wait till after the weekend.
Maybe something brewing in the economy.
anyway, it's cup ramen over the next weeks I guess
I bought some of the gourmet ones recently, so already stocked up, yet I suppose a question will be whether there will be a budget to add meat.
Stocks down --> Bitcoin down.
Stocks up --> Bitcoin up.
I thought that the more persuasive recent ideas is that bitcoin is tending to be more of a leading indicator . yet sure people can frame these price following matters however they like, including relying on ideas that bitcoin is correlated to traditional assets (including the stock market) when anyone zooming out a wee bit, should be able to recognize and appreciate that bitcoin is not correlated to the stock market (we talking about index funds or some specific stocks?), even though bitcoin can sometimes appear to be correlated to the stock market or to some stocks, yet when push comes to shove and accounting for the BIGGER picture substantive numbers, bitcoin has been eating the fuck out of the lunch of the stock market and almost all of the various stocks contained therein... which likely is going to continue to be the case based on what bitcoin actually is, if you happen to actually know bitcoin rather than still trying to buy back the coins that you sold in the lower $30ks (in October/November 2023-ish?).. hahahahahahaha.
Still early in September which means to prepair psychological for a massive dump to $40k before Uptober.
You no longer believe you are going to be able to buy back the cornz you sold in the lower $30ks? so you are settling for lower $40ks perhaps?
This time you are going to be correct?
right?
right?
rrrrrrrrrrrrriiiiiiiggggggghhhhhtttt?
Sure, our current BTC price is closer to upper $40ks as compared with lower $40ks, but still... odds might be in the 50/50 arena for upper $40ks, lower $40ks??? I can't really consider those odds for the lower $40ks to be greater than 40%, and maybe I am being too generous even with that? but I have been surprised int he past.
We’re getting there. The leveraged longs are getting crushed and people are starting to panic. I imagine the selling to cover taxes from the mtgox distribution is nearly over. Maybe another month. From there it should be good times until more forced tax selling come April. Close your eyes for the next month if you didn’t sell at $70K and if you did sell at $70K in preparation for mtgox and you missed the $49K bottom, cross your fingers for a second chance.
Second chance for selling?
Wow just wow..
You really seem to be fiat-focused, and looking at 20% to 30% BTC price differences as if they were meaningful in the whole scheme of things. I have my doubts about traders being able to get ahead in these matters, as compared to someone who just accumulates and/or HODLs rather than getting worked up in a belief to be able to trade these kinds of price ranges.
IDCWhy?
Insurance tried to kick me out again, the trial started last fall, so it's almost a year now and they will have to pay me all the money they held back since.
Seems like they can't afford to hire even moderately competent lawyers. It's the fourth trial and they always fail in the same argument.
The final hearing was delayed by four weeks (19 more days to go) and the judge gave the insurance company the opportunity to give in within that time, because ihe already made clear in the last session that they will lose the case.
That means some time within the next two to eight weeks they have to give me a load of withheld money, and i don't have any planned nvestments.
Except buying Bitcoin
So you will get some well priced corn.
Maybe 1 full btc or more.
fo opsec do not agree or disagree with that 1btc number
I recall that I have had some fortuitous events in bitcoinlandia (or even some bad outcomes), and then i might end up framing the event something like. I was able to increase my BTC stash by 2% or something like that... hahahahaha..
I might have even characterized my June 2023 event in that kind of an increase of 2% of my stash kind of a way... and sure sometimes the framing in terms of a percentage can sometimes come off as if it were small, yet the actual numbers may well end up being BIG too.
We’re getting there. The leveraged longs are getting crushed and people are starting to panic. I imagine the selling to cover taxes from the mtgox distribution is nearly over. Maybe another month. From there it should be good times until more forced tax selling come April. Close your eyes for the next month if you didn’t sell at $70K and if you did sell at $70K in preparation for mtgox and you missed the $49K bottom, cross your fingers for a second chance.
I'm HODLING
Promised never selling in loss and I'm doing that even if Bitcoin goes to $1
(when humans finally choose to nuke themselves) .
Well I just want the US election to be done with
I'm tired of the "I love Bitcoin more than you battle".
I hope that you are not currently in a loss (on paper) With your forum registration date being April 2023, it surely could be the case that you are in really early BTC accumulation stages.. so even someone who started accumulating BTC at
$106 per week since the beginning of April 2023, would have had invested about $8k and would have accumulated right around 0.2 BTC (which would be just shy of $11k at current BTC prices).. so still seems to be in profits... at least for the moment.
That means some time within the next two to eight weeks they have to give me a load of withheld money, and i don't have any planned nvestments.
Except buying Bitcoin
If you don’t know what to invest in at least you can earn 5% while you figure it out. With rates where they are, I think that taking advantage of risk free money and using that interest to stack coins can be a good move. Probably not as good as YOLO’ing it all into Bitcoin, but if we do dive into a recession having some dry powder might be nice.
Holy shit.
I already see that OOM has stated that he is considering allocating the money towards BTC.
Yet, another person (besides Phillipma1957) implying the buying of government debt and earning 5% on fiat?
** Yeah OOM is not in the USA, but even if he were, he seems to not even be inclined in that direction.. so at least he is not that dumb, even though he seems to get tempted by home improvement ideas.. hahahahahahaha no personal attack intended...
Edit: ** I see you are wanting to use yield product.. which surely we need to be careful in using those kinds of products.. but I guess I am not totally opposed to them under limited circumstances as you and phil seem to be describing in your subsequent posts (referring to Paypal versus Coinbase).Even if OOM might not be inclined towards buying BTC, it seems retarded to NOT be sure about buying BTC during a dippening period like this.. but hey people are going to get distracted into nonsense from time to time.
Let's say for example, Out Of Memory received $18k?
He could consider to lump sum it, DCA it over a period of time and/or to buy on dip over a certain price range. So he does not need to put his received amount completely as a lump sum, he would have BTC accumulating options, even after he had already decided to buy BTC with it...
And, yeah, if he got the money right now, that might be different from if he were to end up getting it in 2 week or getting it 8 weeks or sometime in between or even at some later date.
Even after buying has been determined and/or authorized, it is not necessarily easy to answer for someone else, and even some folks have difficulties figuring out their own allocations depending on their own various personal circumstances.
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