That image appears to suggest that 2017 is relevant to where bitcoin is at this year.. and largely it is NOT.. except maybe showing that BTC is ahead of schedule.
In other words, there is no need for BTC prices to get over that 2017 hill in December 2020.. even though the 2016 comparison may well be "of interest" in terms of drawing parallels regarding where BTC is at currently.
Chart shows a short time-frame too - 3-4 months... which could cause some contextual misinterpretations, too.. in other words, I don't buy bitcoin being tied to seasonal or calendar timelines, even though from time to time, we can see those kinds of coincidences in various charts.
By the way, currently, in the last 30 minutes observing prices bouncing between $19k-ish and $19,350-ish... and gosh I have been surprised both how quickly we got to no man's zone from early September to early last Monday (entering into noman's zone)... then dropping back below no man's zone for less than 60 hours.. and then reentering back into no man's zone a couple days ago... so we will see if this zone (which I still tentatively be $17,250 to $23,500 - ish) gets passed through.. within weeks or longer.. or if there is some other happenings that will throw-off the passing through.. or forestall it..
Surely, it has been nice to witness supra ATH prices, too..
(congrats to LFC on a bet that many of us considered to be pretty clearly in his favor, but still, great to win such bet 13 months in advance) with winners of the poll getting in their ATH within a squeaky 9 hours prior to the deadline. Sure, such excitement of trading above the previous ATH lasted less than an hour, but still.. very bullish sign and momentum that seems to establish that we will are likely to be witnessing new ATH, at minimum in the coming week or two... and.. the writing is on the wall.. just a matter of time for what seems to be the BIGGER question of passing through no man's land or not.. .. just have to see how these matters play out... but still CITTTTTTTEEEEE citeeeeee.
another version is that those who bought high in 2017 were eagerly waiting for this moment to leave as well.
Pretty damned close to pure bullshit... in other words a story that peeps like to tell (or believe).
Shame on you, Karartma1, for giving any kind of attention at all for such a nonsense theory.
Those kinds of dynamics do not drive BTC prices within the zone of previous ATH levels. Those weakhands who are selling in the neighborhood of this price are way too insufficient to make any kind of meaningful or significant difference in regards to where dee BTC price is going.. whether we talking about short, medium or long term.
Does not work that way in bitcoinlandia.
