These dips are starting to get a little painful… Who could have seen this coming?!?
More seriously though, there are rumors going around that tomorrow will bring a surprise announcement to pump Bitcoin. Bitcoin finally being added to 401K plans (laws passed but not implemented yet) and a strategic Bitcoin reserve announcement seem to be the popular whispers.
Yeah, I'm starting to get concerned. Bitcoin is incredibly weak this year, not what I expected at all. Many of us are lucky we got in early and have managed to retire, make a great life via Bitcoin.
The current performance is doing nothing to attract newbies to the space though. Stocks and Gold making all time highs every second or third day. You can even get dividends with stocks. Bitcoin pretty much flat all year, floating around sideways/downwards.
September is the worst month for Bitcoin historically and Q4 in a bull run year (are we even in one) is supposed to be where the real gains come. Let’s hope Q4 treats us well, let’s just survive September and see where the last months of the year take us. I am not impressed though to be honest.
yeah, newbs probably pile in where the action is. While they are buying stocks and gold at elevated prices (sounds like exit liquidity for whales), Blackrock and other companies are buying up x of the BTC supply... That could go on a little longer I think..
I say it again, but it could well be that Q4 night be quite boring or even bad, and when everybody has lost their hopes later next year, the big pump to 260k-400k comes out of nowhere.