Speaking of capitulation, I'm CONSIDERING starting to contemplate selling a batch - if I can - between $7.5-$8k before end of March just to get the tax monkey off my back. Sent an email to my accountant asking what the penalty is on $xM deferred from Q1 to Q2.
Seriously.
Sheeeit.
No proud to admit this.
Also, I've come to recognize everyone doing trade analysis of Bitcoin is full of shit.
EVERYONE.
Last summer majormax said there would be no new ATH for another few years. Bitcoin hit a $20k ATH half a year later.
... the trend is now down, and there will not be a new all time high for a couple of years or more.
This is a repeat of early 2014, the patterns are easy to see. The variation now is that the alts have a larger share of total market capitalisation. Capital will flow back to BTC, but it will not reverse the trend overall.
2 year view, BTC will fall 65% from the peak, alts will fall 70-90% (with many going to zero ultimately)
Today he's making the same prediction of a few years of bear market without another ATH. His trade analysis of Bitcoin is full of shit.
. ... and you are not ready to sell yet, but would be more ready at say $2500.
The key thing now (and it will prove impossible for most people) is to accept that whatever you hold will decline in $ price by another 75% (making 90% decline in total), and that will take place in a grinding downwards pattern, including long counter-trend rallies, spread over ~2 years.
Like you mentioned, many of the bear shills predict the same bullshit over and over and over again. Sure, some days they are partially correct especially during periods of price correction - but they are largely wishing and spreading misinformation because a lot of opportunities would be missed if you followed their suggestion by either selling or buying less than you otherwise would during opportune price correction periods.
And Bob's statement about
EVERYONE being wrong largely amounts to a whimpy-ass and emotional capitulation outburst. Sure some folks are more wrong than others, but one of the dynamics that is most predictable in bitcoin is price volatility in one direction or another and frequently overshooting expectations. There remain ways to profit from volatility, even when the whole process of buying on the way down and selling on the way up can be painful, especially during periods of overshooting.