I foresaw support at high 20s, and that's what happened. Could it go back down? Yes, but I don't think so until the next "crash" in the cycle. I say we go up from here and people will be very surprised.I think it's highly unlikely but you can't say impossible. Nobody knows how much Bitcoin price will be in the future.
Has anyone seen Michael Saylor's giveaway going on right now? I'm wondering about the tax implications of this, and I'm loving what he's doing. He has a live stream with Pompliano currently.
I think you are right. We might see low 20s but I don't think so.I foresaw support at high 20s, and that's what happened. Could it go back down? Yes, but I don't think so until the next "crash" in the cycle. I say we go up from here and people will be very surprised.
I've been thinking and saying this all week, especially when I've read all the headlines "crypto and btc are crashing" or "why are cryptos and btc crashing?". BTC has been in a down trend and it just went down a little more, when other coins (esp the one you point out) got totally exposed, manipulated, found out - whatever - to basically their destruction. And as you state, in a down market already.Here's what I am thinking: considering what just happened with Luna, it says a lot that BTC only dropped to about $25k, and briefly at that.
Looks like gold is going up a little, while silver stays stagnant, but I figure it can't be that the masses are choosing metals over crypto.
Not sure where the bottom is, but my hope is we stay low for the next year or two, longer if possible. There has to be extreme pain and extreme gain for wide, even distribution. A slow, Trojan horse like adoption is what has the best chance of success without bloodshed. A rapid collapse of fiat would be catastrophic for everyone.
As much as I would like to see Michael Saylor‘s speculative attack on fiat succeed, it is not a bad thing if he gets margin called and has to sell some of his BTC to the little guys at fire sale prices.
I want the Goldmans of the world buying at $40k and selling at $12k.
The big guys, institutions, and banks are forced to sell now…which is why I am grateful to have the conviction that I do. It would be nice to be able to buy the exact bottom, but that is of course unknowable.
I pretend I can go back in time to 2013, and divide the bitcoin price by 1,000. Do I worry if I can buy it for $69, or $20? Nope. I’m buying it for my future self, who doesn’t care if I paid $69k or $20k. Just go back to page 1 of this thread, and the discussions of $20 Bitcoin vs $45 seem almost silly. You want to yell at them through time to just buy.
Just look at who has conviction about BTC long term….people like us. Who treats it as a tech stock as if it is just another PayPal? Traditional finance. Look at the distribution of coins over time, they become less and less concentrated.So you believe the distribution of BTC is becoming more even/equitable with this crash? Interesting, i think if that's the case then it's very good for the future. I'm not so sure myself as "little" people tend to buy high sell low, but hopefully that's changing.
The collapse hasn't even started yet. When things start getting hairy and people are hard up, they will be selling their BTC for whatever they can get for it. I'm not trying to dissuade anyone from buying, but this certainly isn't the bottom. Not even close.I foresaw support at high 20s, and that's what happened. Could it go back down? Yes, but I don't think so until the next "crash" in the cycle. I say we go up from here and people will be very surprised.