Quote from: OutOfMemory on Today at 08:54:03 PM

Quote from: JayJuanGee on Today at 08:43:40 PM

Quote from: OutOfMemory on Today at 06:54:00 PM

Quote from: strawbs on Today at 06:50:45 PM

Quote from: infofront on Today at 06:36:45 PM

Hello gentlemen. How have things been going?

A country accepts bitcoin as legal tender yet the price barely moves. I would have thought this would be a rocket launching event.

While we already know that fast moves upward don't usually sustain higher level prices.

My sense was that we took the stairs up and the elevator down... and sure perceptions can vary.

Quite nice analogy, even though we ran up parts of the stairs for some shorter periods of time.

Sure many of us could be wrong, but I have heard so many bitcoin price analysts asserting that part of the reason that they believe that this particular bull run is not over (yet) is because the run up to $64,895 does not seem to be like a blow off top in a similar kind of way that blow off tops usually had been occurring in bitcoin in historical periods that we could identify a gradual, but then the blow off top happens in about the last 4-6 weeks in which the BTC price doubles or more than doubles during that time while it had already gone up considerably previous to the blow off top.

In any event, no one should have 100% confidence that blow -off tops of the past are going to play out the same with a way higher market cap, so there could end up being very wrongly expectations regarding how bitcoin's modern day or future blow off tops would compare with past blow off tops, and even I will admit to denying that December 2017 had constituted a blow off top, and probably I was pretty stubborn about that all the way until around November 2018 - around 11 months later... hahahahaha whatever.

In any event it surely seem that not only does the timeline for the run up between about September 2020 from $10k-ish and April to $64,895, has a decent amount of gradualness of it throughout, though admittedly once we got past the previous ATH of $19,666 (which I would really characterize as the entering into no man's land at $17,250 around November 17) then the BTC price ran pretty hot at that time until about $42k on about January 7, without any meaningful correction, so in January we had a 3 -week correction until we began to run UPpity again from February 7.

From February 7 we could describe it either as an UPity with three-ish corrections until May 10, or we could describe it as a mostly up until getting into the mid-$50ks and then largely a flat thereafter until May 10. The former does seem a bit more fair of a description, but I could see either one being reasonably argued as sufficiently representative regarding what happened.

So really we had a sever correction that started on May 11-ish and then last for about a week until we got to our flattish location since about May 18 - 2-3 weeks now bouncing around mostly in the $30ks and wondering which way we are going to go.

So one question remains which way are we going to go from here - which positive newses does seem to give quite a bit of hope to a scenario that the bottom of $30,066 must be "in" even though we still are hovering within fairly easy striking distance to testing support in that area another time. I personally am sticking with my assertion from previous times that I am not going to sleep with much confidence in respect to such bottom being "in" until we get above $46k and even more comfortable once we get above $50k, and sure maybe I am asking for too much before personally starting to feel confidence about the bottom being in.

So even if all of that happens and we get back above $46k to $50k, we still would have the question regarding whether we are going to new heights or not, which gets back to the question regarding if we already had a strong enough blow off top in April - ish and if a depiction of largely being in $50k to $64k for a good 3 months really could constitute a blow off top within the meaning of bitcoin blow off tops, or if something more needs to happen in regards to UPpity before the top would be "in" for this cycle.

Seems to me that there are still pretty decent odds for a top for this cycle in the $250k to $500k arena.. and surely such top could end up falling outside of that range too that would still end up being quite a bit higher than $65k on the one end but even as far as $1.5million in a seemingly extreme more bullish than expected scenario.. but either way we could have our tippity-top coming in this calendar year or a dragging out of such a tippity top into as far as mid-to-late 2022 which might seem to be outside of previous BTC price prediction model expectations, but who proclaims that king daddy is willing to be constrained to price prediction models or squiggly lines on charts, especially when in the process of both a battle and also the greatest wealth transfer in history is underway.. seems that constraints and restraints would not really be reasonable if such a thing were to be happening, no?