Re: BTC 100K FOR 2024 !

Will the deadman's zone theory hold up this time or not? The answer to that question is still to be seen...and I doubt that it is even an all or nothing bet... maybe it just slightly increases the odds that the price will pass through the zone without correcting?

I don't know much about this deadman's zone that you're talking about, it's my first hearing these but I assume that it's a plateau in the market that you're talking about or something like a price ceiling breaking idk. You pretty much answered your question regarding the theory ever holding up in your first statement. New ATH brings new deadman zones which means that the previous deadman zone is broken and that the next one won't be or there's really no deadman's zone, it's just a bunch of people believing that bitcoin will hit X price range but got disappointed because it didn't reach what they expected it to reach.

Quote from: JayJuanGee on July 29, 2023, 04:57:50 PM

Of course, every single time that there is a price rise that gets close to or exceeds the prior ATH can be different.

I believe that I have adequately described what I meant.. which is largely the idea that the BTC price passes through prices around the old ATH with very little resistance.. and sure there can be resistance, but there is a tendency for there not to be resistance. You can look at the ATH of $32 from 2011, the ATHs of $263 and $1,163 of 2013, the ATH of $19,666 from 2017, and so now the new ATH is $69k... and let's see what happens? You want to fuck around with selling too much bitcoin between $55k and $85k, then good luck with that because those prices are likely pass through zones, and also no guarantees, so you can do what you like in terms of managing any BTC sales that you might make and if you expect to be able to have any potential of buying them back, especially if you sell within the deadman's zone.

Are you feeling lucky, punk?

Good analysis I must admit. From technical point of view, we are on our way up and the wise thing to do now for anyone who believe in this technology is to accumulate more.

Furthermore, I feel we need more uses for BTC to be fully confident in what we are projecting. More people and institutions have to see the need to integrate cryptocurrency payments systems conveniently. This comes with more effort and this is where those of us who believe in this technology have put effort at educating people in this regard.

In all, I truly feel lucky to have joined early!