Post
Topic
Board Speculation
Merits 5 from 3 users
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
JayJuanGee
on 02/11/2023, 12:32:37 UTC
⭐ Merited by fillippone (3) ,OutOfMemory (1) ,AlcoHoDL (1)
Dump incoming.


Oh no what happened?
Nobody is going to sell Bitcoin before the ETF. Who in his right mind would like to be caught short when the SEC approves the ETF?
When ETF gets approved, this cross would be lifted big time.

which means?  Either you are being sarcastic with this post or did you accidentally contradict yourself?.. or maybe you are just saying that any dump is going to be a kind of fake dump.. since there assertions that dumps follow any large Microstrategy purchases, which may well be fantasies rather than any kind of reality since MSTR is just buying regularly and the BTC price has quite a bit of ups and downs, so we can frequently proclaim that there are dumps connected with their purchases, but such dumps would likely be difficult to avoid no matter what price they buy, especially in a consolidation market (which may largely be most of the 2023 descriptive), or maybe in a downwardly sloping BTC market, which would be almost the whole of 2022.

And, in regards to the likely pending ETF approval, there could be a short pump and then a dump and then a later more sustainable UPpity, but even I hate to get too caught up in a kind of expectation of what bitcoin might do, and we might suggest that some claims are that the BTC price had been so greatly suppressed throughout about May 2022 until now.. and still somewhat lingering until now (look at the 200 week moving average for a possible measure of such ongoing suppression claims) that it may well be way the fuck more healthy to get into some kind of a 40% to 80% above the 200-week moving average rather than our current BTC price levels that are currently floating 25%-ish  above  the 200-week moving average.. sure we might be in earlier stages of a bullrun anyhow, so there might not be any desires to really float around too much, but we could well try to be prepared for a variety of scenarios, including a kind of go straight up scenario, a kind of floating around at various points while having a few short-lived seeming violent (but ending up as kind of fake out) scenarios along the way.

I am not going to conceded that floating around a mere 25% above the 200-week moving average (which currently is at $28,463) is even acceptable as a balance towards what happened largely between May 2022 and even as recently as September/October in which we have been largely barely above the 200-week moving average (like less than 10%) and spending a lot of time below it.. Just does not seem normal to me.. even if it might become the "new normal" be cause there are no guarantees with bitcoin, including the 200-week moving average is not guaranteed to continue to go up, even though so far it has not failed in bitcoin's history.. including that it had gotten nearly as low as ONLY moving up around close to $10 per day.. and then now we are back up to moving up around greater than $20 per day,

..and from my own tentative thinking on the matter the amount that we are moving up per day in the 200-week moving average is a percentage and not just a number, but in terms of percentages, it is likely going to get to the point where even the $200 week moving average is moving up $100s and then $1,000s per day, which may well be difficult to grasp if some of us are considering our total cost per BTC in our holdings becomes less than the amount that the 200-week moving average is moving up every single day.. not guaranteed.. but surely seemingly a pretty strong hypothesis that the 200-week moving average is both going to continue to move up in value but will continue to increase the amount in which it moves up in value in the ways that I am saying..

even while we might not know the timeline for these progressions to play out since bitcoin is not so much a straight line like the 200-week moving average irons out to be a kind of straighter line than the actual BTC price.. it becomes a kind of stability within the unstable (the inevitably volatile, as I like to frequently proclaim).. and so many folks strive for proclaiming bitcoin as being stable, and they can go fuck off with that ideology that just does not exist in bitcoin current prices and/or the expectations of its future price performance, except perhaps when looking at something like the 200-week moving average, which sort of brings the "ought" to the "is".... and don't get me wrong.. it seems likely that bitcoin is going to become more and more stable and there won't be a choice since it is going to become harder and harder to move bitcoin's prices, but probably we are not going to get to such a state of BTC price stability until getting 5x to 10x or even higher than that of Gold's market cap (which would be bitcoin prices in the $2.5 milllion to $5 million) price arena. which could even happen in this cycle or the next cycle, but I am kind of thinking that it would take a bit longer than this or the next cycle.. but who really knows?