I just saw that between my two buys from yesterday, with roughly eight hours apart, the transaction code of the bitcoin broker i used was only incremented by 3.
So in 8 hours there were only three other buys! Price wise, i think we might go down for more. Seems almost everybody just watches or lost interest in BTC, from this perspective. I try to tage advantage, accumulation wise, i'm not bearish mid-term at all.
Of course, you are not to the level of Searing in your pessimistic expressions, yet I am still having some trouble how you could conclude either that there is a lack of interest in the buying of bitcoin or that the price is going down from here based on your scanty evidence. You have a broker, and the broker's bitcoin transaction count is low? Do you know the history of this bitcoin broker transaction count, and is the transaction count reflective of anything meaningful?
I was looking for similar low timeframes between buys and found the intermediate transaction count (per hour) was way higher than now.
There's only one point that has influenced the count for sure, it's the mandatory KYC registration since beginning of 2020.
This was likely to push down the count, but so low?
However, as it's a national broker, it clearly speaks for lack of buys in my country.
You can only transfer fiat from/to a national banking account OR use exclusive national ATMs. With the latter one needs an id (drivers license) to scan for using the service.
I am not going to argue if the BTC price is going to go down or up from here, and surely there is likely to be some dragging effects on bitcoin in terms of macro considerations of the stock market and the virus situation is not exactly getting better, so in that regard, we might get some additional downward pressures on BTC, but it's price direction is far from guaranteed, even if the stock market and the overall printer go brrrrrr phenomena might not be in the best of condition, either.
Agree. I am not really pessimistic, but optimistic for lower price possibilities or forming of a temporary bottom.
The ultimate breakout of pessimism, imho, was the mindrust accident that happened lately.
EDIT: Hit "save" three times until the "new post" warning disappeared. Now THAT's a transaction frequency i wanna see at the brokerzzz
EDIT2:
Trying to keep it short on the Covid19 topic:
Almost everybody seems to care more about the sick economy lately, instead of questioning it. Really pathetic, imho.
How can one think he is "free" when he (and everbody else) is dependent on inflationary economy, better descibred as wage slavery for most of the participants?
I hear regularly investing Bitcoin folks questioning various bear theories and previously proclaimed FUD spreading is getting some traction, and even questioning whether we are going to either get BTC price growth because of the bitcoin halvening and even questioning if mining could continue to spiral downwards.
And, I am not just talking about in this thread.
It seems so strange to me to find similar levels of hysteria and questioning of the power of king daddy bitcoin, and even assertions that this time is different because bitcoin has never been in such challenging times, and therefore, the stock to flow theories might not play out and bitcoin might really be ded this time.
All seems like baloney to me, and I suppose I am surprised how easily some folks can get shaken out of their coins... or fail and refuse to buy ... or wait for lower prices that might not come.
It's like the same talking points played over and over, and they continue to be effective to scare peeps out of their bitcoin...
Some of us did tentatively conjecture that we might end up getting a bit of a front running of the four year fractal, and these price dips and other circumstances seem to either put BTC back on schedule for a normal kind of four year fractal or even a possibility of little bit of delay, but I still doubt that the delay is likely to be as grand as various pessimists want to assert.
Of course, we still do have ongoing dynamic of froth in the shitcoin space, and I have always been wondering if more of that froth has to be shaken out and beat to a pulp before bitcoin resumes on its upward trajectory, and so in that regard, there can be some consideration and questioning about whether the shitcoin space has suffered enough. Maybe there is going to be another altcoin season... I cannot proclaim to have any kind of meaningful insight about the possibility of another altcoin season, but their performance has been quite parallel to bitcoin in recent times, such as the past few months and maybe even slightly outperforming bitcoin in terms of dollar prices.
Fuck those shitcoins, except to the extent that sometimes we might need to be considering their ongoing pulling effects on bitcoin.. in both price directions.