Ninjastic
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Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
Biodom
on 25/01/2022, 00:25:04 UTC
Quote from: PoolMinor on Today at 12:20:37 AM
Quote from: JayJuanGee on January 23, 2022, 08:52:57 PM
Quote from: cAPSLOCK on January 23, 2022, 06:23:56 PM
Quote from: lightfoot on January 23, 2022, 03:00:51 PM
Quote from: somac. on January 23, 2022, 11:18:21 AM
Well, I was going to retire on my holdings and I still could easily enough, but, that would mean I wouldn't be DCA anymore. If this is a bear market, I don't want to miss the opportunity to stack more sats. I'm still young enough so why not.
Hm. One problem with waiting is that each day of your life is another day gone forever that no amount of $$$ or BTC can ever bring back.

Another is that once you decide to do it there's a fair bit of prep work you need to do before launching into retirement or whatnot. Tax thoughts, personal thoughts, what you might want to do thoughts.

Might be good to just cash out enough for a few months, quit, and see how you like it. Worst case you get a better job. :-)

sO TRUE... ALTHOUGH IT'S QUALITY BLACK TAR HOPIUM AND TIMES ARE HARD.  wE IDTIO mAXI NGU-ERS HAVE TO COPE AS HARD AS WE CAN AS WE GO DOWN 85%.  Grin

Part of the fallacy would be to presume an 85% correction without a sufficiently large blow off top.  It's hard to put $69k as such a sufficiently large blow off top, especially since we already had a 56% correction from almost the same number in May/June/July.... ...

But, hey, peeps can conjecture what they will in terms of how likely anything close to an 85% correction would be at this time, and surely an 85% correction from $69k does conveniently put us in the $10k range, and maybe that's part of the reason that there is so much hopium of some DOWNity projecting folks that BTC actually has any kind of a chance to get to those $10k-ish levels.. good luck with those numbers folks, you are going to really need it if you are putting any of your money down that far..

For sure Raja_MBZ has closer odds with his hope for the BTC price to reach the 200-week moving average.. which still seems that he is going to have a bit of longshot troubles with that .. at least in our current correction (absent some kind of black swan or something.. which how many black swans can we be getting?  are black swans more likely these days or something?).... but at least the 200-week moving average is a wee bit closer than $10k-ish.... it's currently at: $19,200  



I am thinking that the 200-week moving average will more than double (probably 3x) before it is actually met again.. .. but hey.. maybe I am filled with my own levels of unrealistic hopium...?



sucks to be me....  Cry Cry Cry


The most simplest explanation is we won't have a blow off top.....Miner's revenue is the chart that needs to be observed.

Might seem counter-intuitive but it is mining difficulty that drives price not the other way around. China ban actually set the progression of mining revenue back about 6 months.

https://www.blockchain.com/charts/miners-revenue


There is absolutely NO evidence for that. In fact, there is plenty of opposite evidence during 2014-2015 when difficulty was steadily rising and the price dropping until a couple of adjustment periods where difficulty started decreasing and miners started bowing out; then the price turned aroung and started gaining or at least not decreasing. Check the charts, please.