Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Just thinking about possible outcomes...
Tomorrow, supposedly, lot's of people will be buying $30 of BTC "in solidarity" with the people of El Salvador. (And I have interest in the dynamics of this, as well as the implications... whether it's a good idea? Or some weird pump and dump? But that is not for this topic. I will not be playing along for... reasons)
But I have been doing *this* a little today:
I would think the outcome in most universes is underwhelming. There might be a price spike, but not much of anything, and I would even think we would see a sort of reverse effect. A "sell on the news" sort of event if you will. The Bitcoin price has already been acting a little friskily. And a cool off period would be reasonable.
But so might be another leg of this bull run.
Tomorrow, supposedly, lot's of people will be buying $30 of BTC "in solidarity" with the people of El Salvador. (And I have interest in the dynamics of this, as well as the implications... whether it's a good idea? Or some weird pump and dump? But that is not for this topic. I will not be playing along for... reasons)
But I have been doing *this* a little today:
But so might be another leg of this bull run.
I cut out a large portion of my blatherings, but being the perpetual optimist I want to say this...
The outcome we have seen today is better than if not much happened at all.
I think this is true:
Therefore it does not take very much selling to drop Bitcoin a LARGE amount.
The inverse is also true. Which was the point of my hopeful post from last night. I did not expect this big of a dump for sure, but I am strangely encouraged that Bitcoin, as usual, amazes me. It can do the opposite just as easily.