Quote from: AbuBhakar on May 01, 2023, 02:57:16 PM

Big Yes on this. Banking is crashing hard as well as the US dollar. People knew that Bitcoin performs well on economic crisis. This is a good opportunity for them to escape inflation and invest to Bitcoin which is proven performing well when fiat market is crashing hard. More bank crash means less trust to fiat.

Do you think this is the solution and would make people troop to Bitcoin? It's not, this doesn't follow the principle of economics, people will prefer something more real like the USD and Gold in times of uncertainty, and I can assure you that it's not the first time such happenings are seen. In case you didn't know, there are times of risk aversion and risk-on sentiments, the first favours the USD and Gold while the second favours Bitcoin and many others. And what you explained fits the first class where people are afraid to take risks due to uncertainty and will shun Bitcoin (risk-on asset) and embrace the risk-off assets.

Also, when inflation was bitting much since 2021, Bitcoin rather falls, not rise. This happens until inflation started subsiding at the end of last year.

Quote from: imamusma on May 01, 2023, 03:42:30 PM

How can you have such an instinct if you've never seen anything on a chart? I even still believe that $40k can be broken in 2023 and possibly higher before the halving occurs.

I tend to check charts and get very basic reasons before predicting prices, not just on instinct. I observe that we still have the same pattern regarding bitcoin price ahead of the 2024 halving, this makes me optimistic to hope $40k can be broken before the end of the year. It is true that there is a lot of pressure in the market that makes it hard for the bitcoin price to break through resistance, but that is normal as price volatility is to be expected.

Of course, you can't have an instinct about what the market would do if you are not conversant with it. I analyze the market many times a day, so I know the psychology of it which is why it's possible for me to have an instinct about it. What gave birth to the instinct was the fact that Bitcoin was moving higher when I created the topic which is against a professional analysis as a trend trader.

Still, my instinct kept telling me that the market will find it difficult to press above $35-37k which I am upholding as I monitor as the situation unfolds.

Quote from: _BlackStar on May 01, 2023, 07:42:49 PM

Why do I still see some established users looking doubtful about the potential price bitcoin will reach after they invest it. This is a bit weird, I mean just ignore the volatility and wait until you see a worth return on your investment later. Instead think about short-term volatility, then I think it's still good to know or convince yourself when it's time to buy more and build up your invest gradually.

Nothing weird here, what you expected of people is not professional, there is a reason for speculation and its benefits will always be enormous. Based on experience, I advise it so as to be a guide for any trader and investor, it's also a way to maximize profits if done well. There are times you hold an asset and there are times you liquidate them for more profits, speculation tells you, so you just don't conclude that it is weird since you have your belief.

Don't assume, know the best time to invest and divest through speculation.