Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
We're down 19.5% from the $789 top, half a percent from a bear market, and still $500 down from the ATH two and a half years ago. I blame the delayed recovery on Core and the lack of on chain scaling.
ATH was phony GOX price point. Probably would never have made it half that far with a real market. As for current 789 top. You are in a healthy correction in a perpetually growing valuation.
Right now with the halving Bitcoin is in new price discovery mode. I wouldn't be surprised that this current triangle resolves down instead of up. Probably needs to go sub $600 to kick off next big leg up.
