Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Sitarow's post opened the flood gates and now I am cruising the way back machine trying to remember exactly when I first heard of bitcoin. I want to say that it was right around Christmas of 2011..the price had just spiked to $15 and then dropped...everyone was in a panic. Quite the series of unfortunate events drew me towards bitcoin..mostly due to the closing of Full Tilt and the subsequent backlash over online gambling in the US. I didnt fully enter until march of 2012 tho and even then I only lurked around this forum under another account. Meh..I am mono logging...
So, comparing and contrasting war stories is not a bad endeavor, and hopefully our memories can stay somewhat consistent because with the passage of time, sometimes we can begin to remember history differently or even emphasize different aspects of history.
Regarding BTC accumulation: It really seems that you accomplished your initial accumulation much faster than me, because my initial accumulation took a year from late 2013 to late 2014.
Regarding memory of finding out about bitcoin: A keep searching my memory about this and it is a strange kind of thing that I knew that I recognized the name bitcoin in August to November 2013 time, and maybe even earlier than that. I recall that in about September 2013, I was researching into investments, and BTC was on my list of things to look into, and I never got to it and I ended up investing into various index funds... like mutual funds in October and November 2013. I guess I was still in the investment research mode because around mid-November 2013, I looked into the BTC matter, and kind of kicked myself for my mutual funds investment and thereafter created a supplemental BTC investment plan... anyhow, after the mutual funds had run a year, I did fold that money into BTC at the end of 2014.. so I guess that part worked out in the longer term.
My points are this...JJG, your OG dude...dont sweat it...you are like a fixture on the WO now..your place in history is assured.
I suppose OG status could be understood in various ways.. including hanging out and continuing to post during 2015 WO thread desert land.... hahahahaha ... was pretty lonely around here during those times..
The market will continue to fluctuate..same deal..buy the dips when you can. I strongly feel that we are going to breach 5 figures before we have another dip in the coming weeks. It would not surprise me to have a new ATL for the year but those predicting a long winter...I dont see it.
Personally, I think that we are still in a bull market as long as we stay above $5k-ish.. even with a quick dip down to $3k.
On the other hand, if prices go below $3k, then the long winter scenario would become the more plausible scenario.
Late Spring and Summer are going to be hot hot hot! Inertia is a funny thing.
Seems to be the more likely scenario.
I have been thinking about the term "Legacy Markets"..thats what our previous global markets are now. Bitcoin and crypto are the future..its here now.
I understand what you are saying, and I largely agree; however, it seems better to attempt to describe legacy and crypto as a likely transitional movement, and your punchline conclusion is likely going to be correct about the future - however, legacy is not going down without a fight and could take quite a long period to play out.