Post
Topic
Board Speculation
Merits 1 from 1 user
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
OutOfMemory
on 24/11/2024, 08:07:35 UTC
⭐ Merited by JayJuanGee (1)
so was that it for this year?
Yep. We're done. We're going back to $70k.
*blows out the candles*
*throws the cake away*

Bitcoin is dying again, see you at the funeral.
EDIT: No stupid, it's weekend. Institutions don't buy on weekends.
Not that I give too many shits, but it seems to me that from time to time, even since January 11 of this year when the BTC spot ETFs started trading, we have been having some pumps on the weekends..  

Last time I checked bitcoin trades 24/7 and it is not dependent upon institutions for each and every pump and sometimes even seems to teach lessons to institutions in its own ways...but yeah, if you want to buy into a theory that bitcoin has been ONLY pumping during normal business trading hours in the past 11 months, then surely I have my doubts about your interpretation and recollection of recent BTC price dynamic matters.

And that guy Gachapin is not stupid.  He is retarded.    Cheesy Cheesy Cheesy Cheesy Cheesy Cheesy Cheesy  (I had to get that one in there, just for funzies)
You can take that statement as serious as "back to $70k", and the dead Bitcoin funeral  Tongue
Seems i still suck when it comes to irony, at least in english  Cheesy

I thought that I was mostly referring to your institutions are not active on the weekends comment rather than having any focus on your comment about how far we might or might not dip.  Surely, going back to $70k is not totally out of the question, yet based on current BTC price dynamic, it is starting to feel that even going into the upper $80ks might not be very likely.. ..

In some sense, it really seems that more damage is likely to be done to various newbies, no coiners and low coiners by going up rather than going down, so I am having my doubt about anyone getting meaningful opportunities to buy back even in the upper $80ks..... but hey whatever.. anything can happen.. so I am not going to end up being shocked if some kind of a surprise downity happened to happen.. yet even if you think about these bitcoin price dynamics since October 2023.. We haven't really been having any outrageously great dips, and even the supposed MTGOX (Germany dumping) dip that OgNasty was striving to take foresightful credit for, were really not very scary in the whole scheme of things.

When i look at the charts, i see many long wicks downward on those candles, lately, which suggests that there must be solid demand.
Anybody speculating on higher lows like $70k should be aware that he/she might well miss their target buying-zone, but since you demonstrated the strength and robustness of DCA (since i appeared here in 2017), and everybody can just DCA in parallel to trading volatility, which would probably work out well for one or the other.
Newbies have to get hurt sometimes, the earlier, the better. I got hurt very early in my history with Bitcoin, but what i have learned by that (little, though) pain has proven to be invaluable. Of course, some newbies going all-in will never come back after such events, and i also have to think a lot about that "Bitcoin will never go over $9k again" statement by my brother in law, when he refused to take BTC and rather took cash for work.

Is there even a nickname existing for peeps entering Bitcoin in 2017? Like "Gen 20k"-ers or smth like that?  Cheesy