Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
⭐ Merited by vapourminer (1)
When we go sub $30k, who sold at the bottom? 
Who's our next Mindrust?
Who's our next Mindrust?
Dunno but there will be one or even a couple.
The first time that bitcoin crossed this price level (~$34k-ish) to the upside was on 01/02/21. That means that anyone that bought any bitcoin for the first time in the last 17 months and held it is likely underwater, all the while inflation jumped another +15% or so.
That sucks big time. Psychologically, 17 months is a long time for weak hands. (Of course that means that they are still winning vs. stonks with relative losses > 15% during the same period)
I just hope that they have the balls of steel to weather this storm. The tide will turn, and then none of them will be underwater.
I suspect that any noob weak hands have long sold out. Any further selling is likely to be done from players who already have a portfolio of stocks as well as bitcoin and are likely to just treat bitcoin as they do their stocks and sell or buy on FED news. Probably going to get worse before it gets better.
I would have liked to see more gains sooner rather than later but, hey ho, hopefully I wont peg it before it finally gets to where we all know its going. Wen Moon?