Last time it breached the 200EMA within 9 weeks of ATH was in 2011 and it wasn't as deep.
TERA, you mean a long-term bear market is coming? If so, what is your bottom target: 3.5-4 or closer to the previous ATH, 1.5-2k?
I still believe in at least 13-16k bounce short term, price is recovering nicely so far, albeit slowly. I read the recent price action as an accumulation by big players.
Ive been saying for months there would be a bounce from 5.5K to the low teens before proceeding with the bear market. The next bottom after that would be 3K. However, it could take a really long time and there would be other bounces off 5.5K first.
Ya sure I remember at 20K this board had said bitcoin had matured yada yada and the 'big players were accumulating and manipulating it down to 16K'. As if the world's brightest investors hadnt bought at 1K and below and were suddenly interested at buying at a 1600% premium on top of a bubble at ATH. lol. Dont buy all the bull
Do you really think that wall street is one step ahead of everyone and bought in at $1k? That's ridiculous.
Some of wall street had only started to notice the existence of bitcoin after it went above $10k.. (coupled with some of the futures news) and bitcoin wasn't even on their radar before that (for a large number of them). A lot of wall street is still very skittish about bitcoin, trying to figure out what it is, and considering that it's liquidity remains way too low for them to develop any kind of financial products around bitcoin... Thus, seems early stages, early early stages, no?
You do seem to be describing in absolutist terms that bitcoin is closer to an early 2014 scenario rather than an early 2013 scenario, and you could end up being correct, but currently, I still would suggest that bitcoin is more closely in an early 2013 scenario.. maybe currently, I would place about 65% chance in favor of an early 2013 and 35% chance in favor of an early 2014 scenario.....
Many of us remain flexible in our projections about BTC's prices and direction and don't try to proclaim too many legs of price movements in advance, like some kind of divine sorcerer; therefore, if circumstances change, then I will adjust my thinking and perhaps, begin to believe that an early 2014 scenario would become more plausible based on facts and momentum, rather than mere speculative and hopeful proclamations.
By the way, if you had not noticed, you have been engaged in hopeful proclamations about bitcoin's supposed bubble ever since BTC prices went above $5k the first time in October, and I recall that you were proclaiming bubble even before that... and you been whining about BTC bubble ever since, which is nothing new.
Sure, recently, you have been proclaiming to be correct, now that BTC price finally came down - though that still does not make you a sorcerer, merely because you guessed the stopped clock correctly. Actually, BTC prices have not even come down to your pissed off going above $5k levels, yet..
... Hopium, Terabera, Hopium.
(actual website that sold pens, aka "Pen Island")
