Quote from: WatChe on Today at 06:32:32 PM

Quote from: JayJuanGee on Today at 04:56:37 PM

Quote from: xhomerx10 on January 01, 2024, 10:13:29 PM

That would have been 2022.. 2023 was a walk in the park compared to 2022.. even though surely clown world has continued to be pretty outrageous in 2023, that's for sure...so yeah, maybe you are referring more to overall circumstances, rather than BTC price performance specifically.

2022 was the year that followed a year when price of bitcoin touched its ATH, i.e., 67k. So it was normal for market to take correction after a bull run. We have seen this before in 2017/18, when in Dec 2017 we have bitcoin ATH and 2018 was a bearish one.
Overall 2023 was a satisfactory year, if you are seeing it from the perspective of bitcoin price.

In regards to normal, I understand that every correction, many of us feel that we are going to die and that it is the worst correction ever, blah blah blah, and surely there are no two BTC price correction periods that are the same, yet we did have a pretty high quantity of fraudsters who seemed to exacerbate the 2022 correction.. need I list them? Terra/Luna, Celsius, 3AC, Voyager, Blockfi, FTX/Alameda, Genesis/Gemini/GBTC and maybe some others.. and no I am not going to list Binance in there or Tether, even though the former had been attacked a lot in the last year, and Tether had been attacked for many previous years, and it is almost seeming like Tether is somewhat playing ball now with the BIGGEST bully on the block.. but who knows?... ..and yeah another fraud is the no pursuit of the SBF/FTX political contributions. Who would-a-thunk that the Department of Justice would not want to pursue those charges and to publicly expose what several of those interactions were?

We also had a correction in which the BTC price got down to 35% below the 200-week moving average, and even though we did not stay at those max levels, we did spend quite a bit of time below the 200-week moving average between around June 2022 until as late as October 2023.. and yeah, maybe the 200-week moving average is a bit of an artificial line in the sand.. but still it was historically significant in terms of a kind of level of "not being normal."

It could be that in the future, I will not need to be so attached to the 200-week moving average as the bottom, but still, we seem to remain in a bit of flux, yet if the 4-year cycle ends up getting broken, then maybe the 200-week moving average will turn out to be less relevant, but still it is a pretty long period of time, even though it would not be the end of the world if we end up having to move to a longer time frame in order to consider BTC's bottom, perhaps the 300-week moving average (which would be nearly 6 years), yet at the same time, many of sense that bitcoin is designed to pump forever - yet it can be difficult to determine how contained the levels of exuberances might end up playing out, in order to potentially contribute towards drug out periods of either high prices or even drawn out periods of lower prices that would end up dragging the 200-week moving average downward. .which still has not yet happened in bitcoin.

Quote from: Biodom on Today at 06:53:02 PM

Quote from: WatChe on Today at 06:32:32 PM

<snip>
Overall 2023 was a satisfactory year, if you are seeing it from the perspective of bitcoin price.

5 more "satisfactory" years and btc is at about 500K Grin

since bitcoin is not on any kind of straight-line trajectory, yet, we should not really expect 5 more satisfactory years, and geez, $500k is only around 11x from here, so 11x in one year should still be doable, even though some many of you bear wannabes, who unduly place bitcoin into a kind of mature asset class category and/or project out diminishing upward price performance curves are skeptical of some continuations of outrageous UPpity periods.. and it is not even that we need any of that.. but can we stop it?

10x? 20x? or maybe even more in a year or maybe even in a 2 year period getting some of those higher numbers.. 100x might be a bit much, but not totally out of the question. just quite a bit unlikely.. in the short term, but surely not unlikely in the longer time frame in which bitcoin still has right around 20,000x price potential from here based on addressable market.. that likely would not play out in less than 40 years and would more likely be in the 100 to 200 year timeline, and ain't nobody got time for that.