Its been on my mind a bit, do you think that we will see a dip during the holidays from people cashing out? With Bitcoin nearing 10,000$ I am just curious as to whether its got a chance to hold its value or if its a given that people will start cashing out soon.
there are always dips; they're getting more and more difficult to predict because of the parabolic trend. i've noticed a lot of traders saying they have taken profit in the $9000s, or plan to sell $10,000. as a contrarian trader, my thinking is that this probably means we are going to blow past $10,000. the biggest question for me is what structure the chart takes here. if we continue with this sideways/grinding top in the $10,000 area, that could set up ripe conditions for alts to rally while bitcoin goes sideways.
after a few days of that, bitcoin should be primed to push into the $12,000s. i'm approaching this like 2013. back then, $1000 was nothing. but then we topped in the $1200s....