Quote from: bitcub on Today at 11:25:39 AM

We cannot blame the current market now. It is indeed very deceiving as the chart might look bullish then after few hours it look bearish. The reason behind this is because the bulls and bears are fighting against the Bitcoin price. People are buying crypto and others shorting it.

Personally I am still bearish with Bitcoin. I am expecting BTC to hit 24k, then 40k, then drop to 18k or may be 10k, then bull run to $250k.

Oh gawd bitcub.. you are quite the bear.

I agree with you that there can be quite a bit of confusion when there are various battles going on, and then we have to attempt to assess which side is going to win the short-term battles and also to consider where the longer term trends might end up taking us, even if there might be some extreme fleshings/flushing out of weak hands in the shorter-term periods.

It seems to me that you should be careful when you are presuming that the bearwhales would be able to force bitcoin prices down to such extreme levels .. especially when you are talking $18k or $10k... The revisiting of $24k and even touching upon or going below the 200-week moving average (which is currently at $22k) are surely reasonable price points that BTC could touch upon or even get forced to stay down at those levels for a longer period of time than HODLers would prefer, but it seems that you are going to need some pretty dire circumstances if you believe that the BTC price is going to go below the 200-week moving average for any kind of meaningful amount of time and/or to even go substantially below the 200-week moving average especially if you also account for the relatively smaller level of BTC's blow off top this time around, if we are considering $69k in early November 2021 as our current blow-off top..and it is even hard to attribute that as being a "blow-off top" since it was nearly reached in April 2021 when the BTC prices reached $64,895.

Sure, anything is possible, but we need to be considering various fundamental aspects of bitcoin's historical bottoms if we are considering that those kinds of numbers that go way below the 200-week moving average are really possible/probable - even if the talk about outrageously negative macro-economic circumstances (including the fall of fiat) could be within that mix that could end up serving as a black swan like event.. and even given all of that, would we be presuming too much to consider that bitcoin is going to go down that far?

Oh yeah, another potentially BIG dynamic includes the purging of froth from the various shitcoins, including but not limited to ethereum, the various meme coins and NFTs and Defi, and sure there is plenty to purge, so surely it would not be clear if those purgenings or even if they keep on deceiving people that they are value (and pump with bitcoin), that they are going to drag bitcoin down to sub 200-week moving average prices or even be able to contribute towards causing bitcoin to stay below the 200-week moving average, even if it were to be able to be drug below that line for any kind of meaningful amount of price quantity or time.