Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
⭐ Merited by LFC_Bitcoin (6)
Hopium.
My body is ready:
#Bitcoin after the Halving
Aug. 31, 2020
111 days after the 3rd halving.
#BTC at $11,732.
Looking solid 👇
https://twitter.com/ecoinometrics/status/1300448468377378816?s=21
Confidence bands based on past halvings.
I am happy with this slight underperformance, diminishing returns, I am ok with that.
My body is ready:
Quote
#Bitcoin after the Halving
Aug. 31, 2020
111 days after the 3rd halving.
#BTC at $11,732.
Looking solid 👇
https://twitter.com/ecoinometrics/status/1300448468377378816?s=21
Confidence bands based on past halvings.
I am happy with this slight underperformance, diminishing returns, I am ok with that.
It's unlikely we will see growth the same as the past halvings. I think ~3-5x the prior ATH (so 60-100k) is a reasonable peak this time around.
In terms of market cap, i'd disagree. And then there's that thing about scarcity.
Acceptance is the key here. Derivatives might actually help, while slowing down market cap growth in the beginning.
Two opposing forces:
- Downward pressure: bigger market caps drags price action, as more money inflow is required to move the price
- Upward pressure: every day the S2F holds, it gets stronger and stronger, so future appreciation gets discounted into price, providing a lift to prices.
Its a battle.