that would be a correction and it is a good thing on the way up. these little drops help keep the rise healthy and funded.

$1 million may look big but if you look at how far it is from current price, you won't think it is far anymore.

remember in 2017 price went up about 10x and 10x from $70k is $700k which is pretty close to $1 mil.

with the way the new US president has been hyping bitcoin, we may see that happen in no time

after a long wait and many tries to break the $70k resistance, finally it was broken on Oct. 29 and after a quick shake to get weak hands out, we started rising back up again.

but all that wait also meant a massive accumulation of "money" that was waiting for the first positive signal to jump in and start buying bitcoin up.

now we are seeing how price keeps shooting up to almost $90k as people FOMO buy bitcoin...

do you think this is the start of the BIG rally and next bubble? what will be the peak? $1 mil?

i say when price goes above $100k then there is not much stopping it from rising a lot faster and a lot bigger. if it sets a new ATH at $200k then we may see something new happening in the market where a much larger number of fresh investors with a ton of money run to invest into bitcoin. that means price could start rising a lot faster right after we set that record and set new ones shortly after.

we saw this in 2017 but on a smaller scale since the amount of money that ran in was smaller back then. it can be a lot bigger today.

we have seen so many FOMOs in bitcoin scene and most of them have been so big. based on that we can say with confidence that a big rise in a short time to reach $1000000 is definitely in the realm of possibilities.

the only thing remaining to predict is when the FOMO will begin.
based on my experience, such big FOMOs begin when a major resistance is broken. a kind of resistance that has created psychological barrier too. something like $100k has that potential.

why should we choose between these two only? and why fiat? you don't invest in fiat, investing in it makes no sense. you can invest in a lot of things like gold or real estate as the alternative to bitcoin.

as for crypto. it is silly to invest in altcoins, the only viable investment is bitcoin. altcoins are too risky and manipulated to be invested in.

we are slowing heading to that moment where the launchpad is now in sight.
all it takes is one more step to start the subsequent rises that nobody can stop or slow down anymore.

this time we should only see 6 digits prices.

sentiment check is better done on a daily basis not monthly because that is how quickly the market and the traders sentiment changes. the best evidence of it is the big candles we see on the charts regularly where people hear a certain news and FOMO.

he sounds a lot like someone who is seeking attention

back in 2008 when the financial crisis was going on and the banking system was failing like dominoes we saw bitcoin rise from those ashes with these words:
The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.

- in 2022 we have been seeing the same thing.
- the inflation rate went up a lot.
- to control it the governments decided to increase the interest rate.
- it could only slow down the rise of inflation rate and caused recession.
- the banking system started failing again.

the high interest rate means people with debt (which is the majority of population) were forced to pay back more money to the banks which meant they had less and less money to spend on anything else hence starting the recession. the recession that decreased the revenues of a lot of companies like in the tech field and like a chain it affected the banking system too.
this is why we saw the Silicon Valley Bank collapsed catastrophically, the second-largest failure of a financial institution in US history.
this is also why another bank, Signature Bank also failed catastrophically. a bank that shows another failure in the real estate and mortgage market just like 2008.
this is also showing up in the stock market as the stocks of these companies are dumping hard.

this is all too familiar, the repetition of 2008 but with some differences. this time China is not bailing US out buy purchasing its debt, in fact China may even dump the US bonds she has putting more pressure on US economy with its even increasing debt. the Dollar is also getting weaker since unlike 2008 the petrodollar is not dominating the world anymore. the energy price is also still high contributing to the inflation.
but the increasing recession, interest rate and unemployment is all the same.

so, what does this all mean for bitcoin?
bitcoin was born out of the financial crisis, we could even say it was created because of it so that people have a sanctuary they can flee to.
when we look at the charts we can see that during the time the banking mess has been going on and as they kept collapsing, bitcoin price keeps on rising. in fact it broke a major resistance at $25k which it couldn't break before thanks to the banks collapses.

i believe the more banks fail, the more bitcoin price is going to shoot up.
this year we could see much worse financial crisis and a much bigger bitcoin price rise in one of the biggest FOMOs that bitcoin has seen so far.

don't say no one. what are we then?
we are the few who see beyond the bailouts and see the failure of the financial system then choose the exit rout that is bitcoin. every time there is a catastrophe, there are more people who "wake up" to see that failure.

bulls never went anywhere, they were only waiting for the downtrend to finish to start pumping their money into the market. in addition to that there are always true bulls who are silently buying bitcoin in the downtrends when there is "blood in the streets" to make the most amount of profit.
in simple words if you buy bitcoin at $20k you win not when you start buying bitcoin after it went over $100k.

The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.

history repeats.
the important question is how many of us are going to learn from it.

the panic is still there but i have to comment on the recent development that brought price up to $44k. this screwed a lot of shorters in a single upward move and they are so angry. we can even see their accounts on social media activate again after a long period of silence
maybe i should start a poll to see how long people think the shenanigans can go on.

oh oh a big bullish signal.

this is why i'm trying to assess the situation and come up with a better plan. if i see more panic in the market i would wait for a better price to buy the dip but if the well dries up i would have to jump in faster.
this has always been the reason why i LOVE panic sellers

one one hand we have Omicron and the mark that it is leaving on the world economy.
on the other hand we have the bitcoin price failing to stay above $50k and all the FUD that came after that.

i can't predict the impact of all this on the price since the current $41k is already way below what the actual price should be, but i can expect a month or two of "fear" where people are scared of buying bitcoin and eventually start hoping for a drop so that they can buy more (something like what we saw during $30k period in the middle of 2021).

do you think January and possibly February could be the Fearuary months?

it is all about point of view. some people look at the empty half of the glass and some people look at the full half of it. obviously when you look at the ATH at any time we will be below it, even a second after ATH was hit we will be below it! but a better POV is to see that a year ago price was barely 5 digits and wasn't long before that price was $3000 and now it is so much higher than that.

even a better POV is that when price was $3000 people were also panicking and selling their bitcoins.

i hope you all enjoyed the first 10 days of Uptoberfest. we passed $50k resistance like it was nothing and today $57k was reached with a great momentum that is headed towards $60k and if the same pressure is kept we will pass that like it is nothing too

to address some comments, i can see that this trend could be the start of a lot of good things to come. surpassing $60k will be key and it will trigger more buyers attacking the sell orders eating them up real quickly.
i don't think it is too soon for "choo choo" either. specially in mid November when we get Taproot and $200k could be around the corner as it activates.

Uptoberfest can easily pour into November and December making 3 months of bull run with some rest during new year and then much bigger bull runs in first 3 months of 2022.

as the October began the festivities of Uptoberfest started too and with it a a strong positive signal shook the market. for the past week bitcoin price has been smashing new highs almost every day surprising everyone.

currently sitting at a whopping 37.9% rise the market is showing a lot of promise. but price rise is not the only gift of this festival. Uptoberfest brought with it the slow down of the FUD against bitcoin, the huge loss of shorters and finally the whalebears who are now at a crossroad needing to make a decision, either to continue losing money or get on the bull train.



with the $50,000 resistance under a barrage of buy orders we could see this Uptoberfest end with a new ATH.
those who took the fantastic discount of last month and bought bitcoin can now sit back, relax and see the rise unfold and possibly see $100k this month. but those who were fooled by the FUD have to now be filled with regret as they wantch the price grow.

i came here to complain about this. yet another centralized exchange that started placing more and more limits on their users to force KYC on them.
this sucks since now i have to start looking elsewhere and unfortunately i don't think there is currently any decent exchange left without KYC. so back to DEX i guess. at least for now.

what is everyone else going to do? and is this affecting USDT withdrawals too when they say "crypto"?