Sure we had more than a 70% price increase from the local bottom of $28,600 to $50,562, so getting some pausing or even an 8% pullback down to $46,309 in the past 36 hours should not be considered anything to write home to mom about. In other words, your thoughts of downity seem a bit over prognosticated, but hey.., you do you in terms of your BTC price expectations.
To be honest, I can't recall why I was writing that the price was going down - I know I wrote three or four items over that week about the lack-luster price as Bitcoin had stagnated somewhat. However, the price has been on the up and up with the price again trending upwards. No doubt someone in a few weeks time will ask why I wrote that.
If anything, it seems as though news of MicroStrategy's bulk buy has lifted people's confidence in BTC (much like the car salesman's push a few weeks back) and we're being moved out to the launch pad for liftoff any day now.
It seems to be problematic to be getting too tied down into narrow causations of short term BTC price moves, and of course we have waves, we have momentum and we have reversals too... and even given all of that there seems to be some need to account for currently valid BTC price prediction models, too.. including 1) stock to flow, 2) four-year fractal and 3) exponential s-curve adoption based on network effects and Metcalfe principles.
Sure, those models do not provide specifics and surely they are based on probabilities, too.. but they still seem to have decent predictory power regarding overall trends.. including that we have likely been in a bull market since about April 2019.. even though we have had some pretty decent corrections along the way.. and fuck the explanations that try to suggest that MSTR/Saylor is causing the BTC price.. sure on the margins, it is possible, and sure he may have been exacerbating a preexisting condition, but in the end, he was jumping on a train that was already heading in a certain direction... including what people think and blah blah blah.. sure those things might help.. but the train rocket ship is already heading up.. so seems that figuring out or seeing if this particular cycle ends up toping at $64,895, $150k, $300k or some other higher point variant (or something in between) is still in the cards, and it still seems pretty likely that $55k to $80k is a kind of noman's zone, even if we might have a significant and meaningful correction (of let's say 15% to 25% or more) before getting into such noman's zone.. but the overall momentum still seems to continue as UP.. even if there might be some more downs (yet largely bumps in the road) along the way...
....and it appears that even our 56% correction from $64,895 to $28,600 that kept us in the lower $30ks for more than two months was largely noise in this whole UPpity scheme.. even though it scared a lot of folks out of their coins because they wrongly concluded that we were out of the bull market.. and such loosey goosey discussion of short-term BTC price moves can surely cause BTC HODLers to lose their sight upon what is the prize exactly.. and that is BTC including trying to accept BIG picture trend ideas - while realizing that none of the specifics are guaranteed even though the odds remain favorable to the BIG picture trend ideas including that we are still likely in a bull market even though we may well experience another correction around here (or maybe not, too).