We’re getting damn close to “shit or get off the pot” time for Bitcoin’s price. I think we’re going to see a big move towards the end of October and expect we’ll see a new all time high by November 2nd. Maybe that will be en route to a $200,000 Bitcoin exchange rate by the second week of December. Any variation from this path would have me getting concerned.
Legit question: I see posts like yours here on WO from time to time. This expectation of a magical price rise to X price by Y date, or else expectations get shattered.
Price doesn't just rise by magic. So who is going to provide this magical levitation? Why must Bitcoin hit a certain price by a certain date? Because a soothsayer chartist says so?
Not trying to be combative or negative, I'm just extremely curious in the thinking here. If you are thinking the PlanB S2F model, just know that it is not a self-fullfilling prophecy. Someone has to actually make it happen by buying. Actually a whole lot of someones doing a whole lot of buying in a short time frame (demand suddenly overwhelming supply). And they are not looking at someone's chart to decide when to do that.
In fact, the more people there are that believe the S2F model definitely
will happen, the more that whale traders will have an incentive to NOT make it happen and do the opposite, fucking over both leveraged longs and shorts, and trying to shake out more weak-handed hodlers.
Very much agree.
Saw a video on the normally gold shilling channel Kitco. I thought this sounded pretty reasonable to be honest.
Most will not agree with BTC taking a dump first, which is probably why it will happen.
BTC will probably reach the highs in S2F but will it follow that exact timeline? I doubt it.
I think without the "pandemic" we possibly wouldn't even be talking about S2F as it may already have been proven wrong for some time.