Quote from: Lucius on June 23, 2022, 02:03:55 PM

Quote from: Fundamentals Of on June 22, 2022, 03:57:56 AM

$30,000 is too high before the selling continues. For the past days it seems the selling resumes as soon as the price bounces back a little, to even as low as $21,000 or $22,000. This doesn't look good at all. It seems the sellers cannot anymore wait for the $25,000 or $30,000 levels to be reached before they will continue with their thing. Does this mean Bitcoin's price still has a bigger room to fall? In any case this is indeed a long term game. And I'm in.

Does it remind you of something from the recent past? The same thing happened when we slipped from $40k to $30k and then stayed there for a while - ranging from $28k to $32k. It is now possible that $22k is the upper limit from which we will repeatedly decline to $20k, and if it lasts too long, we will probably see another drop - because a stable price is not something that characterizes Bitcoin.

In the short term, things don't look good, but for those who want to buy cheap and know that things like this have to happen sooner or later, periods like this shouldn't be a problem, but an opportunity to grab extra sats.

It does. And it doesn't make me feel good at all. That $30,000 was a long battle. The price rose several times beyond that but it also lost hold of that several times. But whenever there was a little increase beyond that, it would almost immediately followed with a rejection. This is exactly what's happening with $20,000 right now. Again, this doesn't make me feel good at all. But although it isn't what we really want to happen, the good thing is that it's also an opportunity. This might never be something like this in the near future.