So I'm thinking if we do go sideways here for a while, all it will be is the small handle for our 2018-2020 big cup. When it breaks up from here, and it will, I expect a doubling in price before another decent correction/sideways movement. Kind of like the move from March 2017.
like 2017, I'm not worried if it takes a few months to achieve this. But with the continued destruction of sound money globally it might not even take that long before the bulls are recharged.
Buy every dip.
like 2017, I'm not worried if it takes a few months to achieve this. But with the continued destruction of sound money globally it might not even take that long before the bulls are recharged.
Buy every dip.
Since the last crash in March, we had only one correction of 20%, which is very unusual. Of course the explanation is obvious - big investors entered the market with the purpose of long term holding. Some TA 'experts' may claim that a correction is at the corner, but looking at the liquidity of the exchanges and how quickly the price recovers, I just don't see it. May be if the price increases 30%+ for a day, we will see some more significant correction. But if the current trend of 4-5% daily gains continues, I would expect more like sideways periods in some 10-15% channel from the ATH after each doubling.
I am unsure about if I understand you.
I agree with your assessment that there have not been too many lengthy or deep BTC price corrections since March, so surely we have largely been having Upwards BTC movements with relatively small corrections - but having had experiences in that direction so far does not necessarily signify that those BIG ASS corrections are NOT going to come, at some point.
Maybe for now, the price pressures remain UPpity and there remain too many peeps (or institutions) or whoever is buying who are NOT really allowing the BTC price to go down because they remain ready, willing and able to suck up the vast majority of the dumps that have happened or attempted to happen.
I recall seeing variations of this in the 2015 to 2017 price run... where the BTC price just kept going up and up and up, but at a certain point, it was not sustainable... same with the 3 month run that we got from April 1 to June 27, 2019.. At a certain point, the run-up just becomes unsustainable.
Seems to me that some BTC chartalists (not you, of course) want to start to proclaim that BTC is overbought, but some of them have been saying that since $12k... and it is NOT resulting in a BTC price correction.
We cannot really arrive at any kind of exact formula.. but let's say that we get through the no man's zone of $17,250 to $23,500.. that would only be a 20% run above the ATH - so maybe there would be room for more UPpity before any kind of significant correction.. but it also would make some difference if we were to float around within no man's zone for a few weeks versus a few months. The longer that we consolidate, then the more that buyers and buy support is able to catch up and to keep up.
I just don't see that we can competely rule out 30% to 40% corrections based on the fact that they have not happened since March, and maybe because of such absence of corrections, that causes more justification that a correction of such magnitude might be due.. whether it happens while we are bouncing in the no man's zone or maybe we make it to $35k before such correction ends up playing out... I just have troubles trying to lock expectations into any kind of formula including either the motive to shake weak hands or the desire to take profits, and surely another presumption might be that shitcoins are NOT frothy.. and personally, I could appreciate a 30% to 40% correction being justified merely based on the frothiness of shitcoins, including whether anyone believes that ethereum is going to be able to pull of some kind of shenanigan smoke and mirror transition into some wild ass shit without some hackers taking advantage of it, including some instabilities with their miners who are likely NOT too happy with ethereum's desires to phase them out (or fuck them over).. .Let's see how all that goes, and it could surely trigger some kind of greater than expected correction in BTClandia... It's not like we can completely divorce our lil selfies from that crap that seems to affect the whole space...including BTC price dynamics... whether we like it or no.
I agree with him and I can honestly say that we are still not equal to July 2019 in terms of mining profits.
25k-30k would equal the Holy 2019 price of 13k. Which collapsed basically because mining profits were too good to be true.
If you can invest under 50k and earn 6k a month -1.5 for power you clear 4500 a month which is too good for a miner.
Right now investing 50k and clearing 4500 a month is not doable.
So I think we could hold these prices for a few months to until we skyrocket to 25-30k
The last one has really modern intereur. In my opinion Mercedes is ugly as hell and even the engines can compansate for that at all.
