Shut up Hairy! Don't jinx this with your prognostications.
It would be nice if bitcoin would go into a bit of a punishing phase.... to punish some of those folks waiting for cheaper coins... or those folks who are waiting for the alt coins to bring them lambos... . I just don't know if bitcoin is quite ready for punishing phase.. but it would be nice.. a bit of a fantasy of mine to re-live the late 2017 upwards price movements that took a lot of waiting for lower prices folks for a bit of a surprise.
By the way, I seem to recall that a bit more than a week ago, Hairy had said that he had expected a bit of a pump to $7k or even $7,200-ish.. because BTC prices in the lower $6ks seemed to be a bit "oversold."... something like that.
Ahh 2017. The happy times. We all knew it was nuts though. I dont think we will see its like again though as the the shorters are a force now.
Are you mischaracterizing on purpose?
If you have been around bitcoin long enough, you will realize that 2017 is not an aberration and bitcoin has gone into a punishment mode on numerous occasions. Yes, of course, we are in a correction period, but a major point of my post was to suggest that if bitcoin returns into punishing mode then those shorters that you proclaim to be "a force" are gonna get reckt, and that is what I was hoping for, even if the odds might be against such, at the moment, perhaps?
We need to bust ~7500 to break the trend line and 10k to confirm the end of the bear.
Of course, BTC prices have been down for a while, so it seems likely to take a bit of effort to break above various resistance points and to possibly reverse the correction or to bounce out of the consolidation range.... Yes, bear has won the day down to $6k, and they have made at least 4 attempts at breaking below $6k.. so their difficulties getting below $6k could also lend support to the bottom already being in... NOT safe to be shorting when the bottom is already in, if that ends up being the case.
This latest rally could just be another dead cat but unlike the April and July bounces, its more sure and steady unlike the 4 pump days of the other 2.
Yes, of course, could be, could be. If I assert that I hope for more up, I am not saying that the odds are great that prices will be able to or are ready to break upwards.. sometimes it takes a bit of movement and continued movement in order to reverse moment or to cause momentum.
I had to Sodl 50% of my stash (real world bills) so there is a great chance that this is the bottom.
O.k. So you were over invested? 50% is a pretty large amount to sell... Sold at a profit, I hope? I understand that sometimes riding out the waves can take a quite a bit of effort, and bills certainly come due.. so one thing is planning for the bills, including emergency situations, and another thing is actually recognizing whether there is enough cushion in the plan... so it can be understandable that reality sneaks up and all of us have to keep in mind that we gotta have some cushion in our cash flow plan to cover anticipated (and unanticipated) expenses to be able to ride through potential long down waves, including a possibility that bitcoin could be down for a couple years longer... even while some of us are hoping (including yours truly) for some upwards action --- and even punishing of those who failed to invest or are in the BTC shorting business.
I knew i had to sell sometime this year but I was holding out as long as could. It sure felt so wrong though when when i clicked the sell button.
I also understand that you can plan cashflow for 6-18 months in advance and then attempt to see how thing play out, and sometimes it just not possible to stick with the original plan because some aspects of the cashflow are not comfortably playing out. Anyhow, a lessoned learned is that it can be a sign of over investing if you have to sell a large amount of your holdings at a time that you do not prefer, and sometimes there can still be ways to ride it out... such as selling 10% or 20% rather than 50%... but anyhow each of us have to come to our determinations about our own situation and hopefully learn lessons from our mistakes... yet that does not take away from the desire of myself, and likely others who would like bitcoin to go into a punishing phase of upwards movement because surely we have been visiting the $6k territory a lot in the last 6+ months.. going back to early February.. and so in some sense, there can be some feeling that BTC has spent enough time in this price arena... let's move onwards and upwards.. even if some peeps might not yet be ready.. even when there has been several allowable preparation months.
