[edited out]
You’re right, it is “less likely”. I was merely illustrating the possibilities, and it was only an opinion based on the fact that Bitcoin is still indeed as volatile as it was during 2017. But extreme? I believe not.
Don't get me wrong.. For sure I consider 30% corrections to be possible in this cycle, just like it happened in the 2017 cycle several times. I was largely commenting about what seems to be our price posture
at this particular moment in terms of passing through the zone of the previous ATH.. which seems to make it a bit more difficult to achieve those same levels of correction (such as 30%).. not impossible, but just more difficult.
“In any particular moment” anything can happen, I humbly believe “this particular moment” is not a special case.
Good. And, of course, you can look at BTC's price dynamics in any way that you like, whether those kinds of theories about the existence of noman's land is helpful to you or not.
Seems to me that if you treat bitcoin like any other asset, then you are prone to get yourself in trouble in terms of calling tops way too early.. which could either cause you to sell too much too early or failure to adequately prepare for more up that is on its way... but whatever, do what you like.
I understand that this particular prediction game is aiming at early December, and there are even some people who have been postulating that the whole cycle could be over by this calendar year... and sure all of that could be correct - but with bitcoin having a more mature market including some of the BIGGER players around (including additional abilities to down vote the BTC price), it could take several more quarters for the peak for the cycle to play out.. and sure if we go into 1st quarter, 2nd quarter or even as far as the 3rd quarter of 2022, then it would start to have really strong odds of having quite a few 30% draw downs along the way, even while overall going up.
Interesting times for sure, and when we get into those BIGGER levels of corrections - even getting into the 20% arena, there are quite a few who end up getting shaken out, just like you suggested in your earlier post.
Because of macro-economic events, if you’re researching, they might prove us wrong in believing that Bitcoin’s surging bull market continues all thoughout 2022. Maybe it can, but only until first half of 2022. But it’s a test for Bitcoin, the toughest test.
Largely I make those kinds of proclamations because I believe that it is better to prepare yourself financially and psychologically for any of those kinds of scenarios that are reasonably within possibilities of happening, and prepare less for less likely scenarios. So in the past year or so, we had frequently been hearing theories that the BTC was cycle was going to top out this calendar year, so you could end up selling too much BTC too soon or failing to prepare for more UP if you end up being wrong about the top of the cycle being this calendar year.
I would also suggest that in BTC there are a decent number of HODLers who are not particularly attached to whether the top ends up being this calendar year versus if the top ends up dragging out into 2022 and potentially as late as the 3rd quarter of 2022.. and so surely if you are trying to time the tops and bottoms you have more potential issues in terms of making mistakes.. but if you employ strategies that are not as much concerned about timing, then you still may well be able to profit from the ups and downs of BTC (which I frequently assert to be one of the most inevitable of things in BTClandia) without attempting to engage in rash behaviors in regards to attempting to figure out exactly when the top might be or how much of a top the top might be.,. so in that regard, you might be asserting that HODLers are negatively affected by the extreme draw downs that have frequently happened in BTC (especially after explosive tops), but if HODLers are already prepared (both financially and psychologically) to just HODL through those kinds of seemingly crazy-ass cycles (maybe shaving small portions on the way up rather than shaving large portions), then it is harder to imply that they are damaged by such extreme price movements.