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Board Speculation
Merits 1 from 1 user
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
Gachapin
on 06/12/2023, 19:06:10 UTC
⭐ Merited by JayJuanGee (1)
hey JJG is the bottom in?

I was kind of wondering about some variation of that question.

You know that I mostly considered the $15,479 bottom to be in around the time of our going up past $30k the second time in this rebound.. which would have been in June.. around the time that I "suffered" my Binance error...

so then my recent considerations had to do more with whether $30k might ever get breached again, and surely it would be dangerous to remove all buy orders below $30k, even though most likely it should be safe to remove most if not all of them below $20k.

Call me names if you like.. but I am no Saylor, and I don't mind having gobble-dee-goos of cash.. even though it is just sitting there not really doing much of anything.. and yeah, after my first few years in bitcoin, I remained somewhat nervous about holding so much cash, but gosh there were so many times in which I ended up getting nervous because I was running out of cash.. and I am not even sure if I need to list all of the times and the various kinds of remedies that I had to try to figure out so that I would not feel that I was running out of cash... and each cycle has been getting better and better and better to have extra cash that is just available.. but how many of us mostly BTC HODLers were sitting on sufficient cash after the BTC prices went below $25k in June 2022?  The ONLY folks who I recall bragging about how much cash they had were the no coiners and low coiners, and gotta take those guys with a decently large grain of salt, for sure.

So, yeah we don't really need cash in times like this.. so I don't know what to say, further - except that it does seem that I have more BTC this time around than I had in 2021 when we were going up (both the first time in early 2021 and the second time in late 2021 - which I think that the second time I had more BTC than the first time, and sure I would have to check my details more specifically).. so that having more BTC phenomena is a kind of progress that is within the system of being mostly a HODLer. .even a HODLer who doesn't really have anything against spending BTC, even though I would say that I really was not trying to get more BTC since early 2021 (because even in 2021, I felt that I had more than enough BTC) because it is kind of a side-effect to end up having more BTC.. in spite certain kinds of spendenngs along the way...

What do you think about bottoms?  Do you believe that we are going up from here, and no more bottoms?  By the way, we heard a lot of "down before up" since October, and those calls have not played out very well, so far.  Sooner or later one of those "down before up" calls will end up playing out correctly, if anyone still dares to proclaim such a thing, again.   Cheesy Cheesy Cheesy Cheesy Cheesy Cheesy


I really love them!! But to be frank most of the time that I think about bottoms it's not about charts. Roll Eyes


I think we won't go down to that 15k area ever again (super extreme black swan events excluded). But there will be future bottoms of course.  Hopefully above the last ATH like it's always been before this cycle.