Quote from: Torque on Today at 04:11:49 PM

Quote from: OutOfMemory on Today at 04:05:36 PM

Quote from: Torque on Today at 04:01:15 PM

Quote from: ivomm on Today at 03:21:20 PM

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.

My guess is $29,900 will become the new $9,900.

It'll go sideways for what seems like forever, teasing > $30k only to get squashed down over again and again. Roll Eyes

But it'll still be a good thing, because On Like Donkey Kong.

Hmm, we're already at $23k. I'm really curious if, when and at which price-range "the battle" will play out, it might give a good hint ot two about where we will be heading in 2024/25.

Yeah we're at $23k already, but it's straight up. I feel like this is just whales coming back into a market they completely dropped out of in November, pumping major leverage back into the float and squeezing short positions. The volume is still quite low.

Don't forget that any sellers between say $40K to $50K for example will be happy with anything between $20K to $25K. You're not going to be bothered about paying a premium for the week when you're doubling your Bitcoin stash. It's easy to think most already did this during the accumulation last year, but why buy then at current prices when price *could have* dropped even lower to quadruple your stash?

My point is while bear traders on leverage will be returning to a newly bullish volitile market to long it, there is also no doubt many who waited on the sidelines for well over a year to re-enter now doing so. I think this is really apparent from last weeks close, as investors weren't looking to wait for a correction after a 20% pump, they had been waiting for that kind of break-out to immediately enter. That's my opinion anyway.