If I have to describe in one sentence the price action in 2019 and 2020 it would be "The battle for 10K". I'm just curious which will be the new 10K for 2023 and 2024 - 30K, 40K or even 50K? My guess is 40K.
It might be totally different this time, though.
I occasionally try to think about what we haven't seen (yet) and which one of those possible scenarios will be playing out.
Last bottom was $4k-ish, this one $16k-ish, so interpolating the $10k battle based on these numbers, $40k seems valid as rough estimate.
BUT we don't go up in a linear way, the 3rd bottom, seen in reverse timeline from now, was more or less ar $300.
x12, x4, x would translate roughly into about x1.5 for the next "multiplier", which projects a "battle for $25k" IF things continue as they turned in the past.
S-curve would be the no1 exception, bringing us to at least $250k next cylcle ATH areas, no or very short "battle for (roughly) $70k" (you know that number), followed by a yet unseen, consistent run up. And that would be only the beginning, since we would have just passed the flattest part of the S-curve in the last few years.
#NFA
#NFE
#iactuallysuckatmathstoo