I'll tell you one more thing. Regardless of my decision about going all back in or not. (I'll probably do it when I feel it is the right time but I am also probably not going to invest like $50k this time, $10k is more likely)
Most bitcoins were mined when their price was below 50 bucks. There are millions of them.
Do you understand what means?
It means this whole thing can go to zero and halvening don't really mean shit. There is no bottom. No TA.
One of the reason I was so freaked out when I read there were coins moved to exchanges after 10 foookin years. 10 fookin years.
They can afford to sell it below $1k.
Hey man stop it, this is embarrassing.
You're calling for below $1k
BTC? Really?
You swallowed the news and sold the bottom. We all make mistakes. Just don't buy at the top now.
What has become of you?
Consider the logic, too.
Since a large number of bitcoins were mined below $50, therefore, those bitcoins are only worth about $50, currently, so they are profitable to dump those bitcoins at any price above $50, so there is no bottom in this magical internet money....... blah blah blah..
Sure, the price of bitcoin was below $50 for most of the time until mid 2013.. and so around 14 million bitcoins had mining costs below $50.. Gosh.. the first couple of years through 2009 and 2010, bitcoin hardly even had any street value and 1/4 of all the coins ever (like 5million) were mined without hardly any street value.
Fails and refuses to account for appreciation of value, difficulties and costs to mine similar coins today and other factors, such as willingness to of people to pay more for coins in current times.
Makes hardly any sense to suggest that there is no bottom in terms of how far the BTC price will go (like the lack of intrinsic value arguments) including failing and refusing to account for/acknowledge currently strong BTC price prediction models that are much more sophisticated than the many bitcoins were mined for under $50 argument.