Mother of all Cups?

[Zangelbert Bingledack]

Since going up within the next few days would still feel bubbly, I hope it either camps out around $200 or has a little mini-crash to shake out a few weaklings. I guess a crash would be slightly preferable? Either way, it's soon to go much higher.

Hm, this talk sounds familiar.

Oh yeah, it sounds like the first week of April.

And it sounds stangely familiar to the talk on April 10... something about shaking out the weak hands.

How did that work out again...?

It sounds like what people familiar with the Bitcoin market say during every correction, and yes, it's working out quite well for those who aren't so scared of their own shadow that they jump off whenever the price moves down. Markets. Don't. Move. In. Straight. Lines. The people who realize this will continue taking the money of the people who don't.

[Zangelbert Bingledack]

I also think the correction/pause will last a week or so. Given a whole week and given how fast we moved up without ever testing support, a dip down to $140 might even happen, as part of price discovery. If we'd built more of a base at $150 that wouldn't be necessary, but it will of course freak people out, no matter how many volatility warnings they hear in advance. EDIT: I just checked again and we did test support at 150, so I'm revising this to say it's unlikely to correct that far. $160 seems more likely, then probably quickly back up.

Rapid price rises always entail big volatility. It's just the nature of the beast. To think that we'll just go up to $100,000 in a series of smooth rallies and plateaus with never more than tiny corrections is pretty funny, but judging from many of the comments here it's the typical way people actually imagine a bull market, if unwittingly.

[SheHadMANHands]

The mother...

Of all of the cups...

And every handle that ever lived...