Going a bit more in-depth, we have the king effect clearly seen in Bitcoin prices:
The king effect means that when Bitcoin goes back up above $30, it will either continue to rise before a sizable collapse, or collapse immediately. For example, all of the following are plausible scenarios:
The king effect means that it is unlikely we will see both new highs and stability. One has to go.
That's cool. Learned something new. The king effect means that when Bitcoin goes back up above $30, it will either continue to rise before a sizable collapse, or collapse immediately. For example, all of the following are plausible scenarios:
- Price remains below ~$25, with stability
- Price rises above ~$25, then quickly collapses below ~$25, with some stability
- Price rises above ~$25, then continues rising to around $40 before returning to the $25 to $30 level, with little stability
- Price rises above ~$25, then continues rising to far above $25 before collapsing but remaining above $25, with almost no stability
The king effect means that it is unlikely we will see both new highs and stability. One has to go.
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