[edited out]
....... humans must whine about something...
Referring to yourself in the third person, yet with a descriptive undertone..
I got a chuckle out of that.
$110k is just a threshold that loosely and indirectly relates to my "fuck-you" lever. And it also kind of cements the 6-digit order of magnitude (which, again, doesn't really mean anything).
1) I don't want to beat a dead horse, but spot price reliance on fuck you lever seems quite problematic from my perspective.. even though I don't have any problem with the idea of price-based (meaning uppity threshold) and/or time-based withdrawal points.. yet this particular focusing around $110k seems to be a kind of price-based, as if you were to have an order (let's say 1% of your stash) waiting to be cashed out there, but that seems contrary to what I would presume for your to consider any kind of a place to shave off some cornz....
The horse is dead, but if dead cats can bounce, then so can horses...
Of course, I wouldn't let spot price alone control my "fuck-you" lever, but not everything a human does or thinks are based purely on logic. $110k is just a threshold, a mental marker that I have set, and not at all related to any sell orders. Your presumptions are largely correct. I don't think this is the time to be shaving off any amount of corn, except if you absolutely have to (doesn't that apply every time?)...
2) getting a bit of a distance between $100k seems reasonable, but 10% hardly seems reasonable in terms of counting on anything... maybe 25% to 35% above it, or maybe I am asking too much? how did $1,100 work out in regards to $1k? We did not stay there very long. How did $11k work out in regards to $10k? Same thing.. It was not much of a thing.
You are not asking too much. Had it not been for my special $110k threshold, I would also pick a 30% margin as a healthy distance from the 5-->6-digit crossing point. I expect us (I mean, the price) to surpass that 30% margin very soon, maybe Q1 '25, dare I even suggest we'll see a 100% margin (i.e., price doubling) quite soon, with the usual wild bounces up and down on the way. We may be in for some major Trumpolining next year, but with a net-positive effect.
Sure it is better to be going up rather than down, and I truly have been speculating that our last 10-ish days since we first crossed over $100k (seems like longer, right?), we have just been spending time preparing to punish the fuck out of the so many folks selling at or around $100k who have not yet bought back... so why would the punishment stop at $110k? Or why would $110k have much if any meaning?
No meaning. They will (continue to) be punished, that's for sure.
Sure, I have little to no idea what is going to happen.. but I would not be surprised to see $125k to $135k without any kind of a meaningful correction.. Admittedly, sometimes it takes time to go up or down or to figure out which way we are going, yet in the end, I'm going to be surprised if there were any meaningful correction in these here parts, and $110k seems almost the same as $95k to me.. and yeah, maybe it is all in my head, since we know that many times minority scenarios end up playing out.
No one really does (have any idea what is going to happen). But if I had to bet, my money would be (are) on continuing the uptrend. Give it some time, and $100k will be far behind us. Happened with $100, $1k, $10k, at a time when adoption/acceptance was nowhere near the degree it currently is. And the supply is capped to under 21M BTC. Cliché, but true: 1+1=2 and 1 BTC = 1 BTC.
$1M is the same. What's wrong with $900k? Or $1.1M? Human psychology... Just look at ChartBuddy when price is close to those nice, round, decimal numbers...
People do love round numbers, and historically in bitcoin those round number loving folks have tended to get screwed when they sold too many bitcoin at such round numbers... but yeah, in regards to $10k, we did end up coming back to that one quite a bit between January 2018 and all the way up to October 2020.
Yup. They do tend to get screwed by such round numbers, and some (mindrust, for one) even get screwed by DOWNity "outliers", like the one you mentioned. What was so special about $3500? Oh, that's right, the volatility. Scary thing.
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