Do you sense that demand will dwindle? Or that profit takers will increase? Or that fear will creep in?
Bitcoin Price Thread
- Thread starter Magna
- Start date
Do you sense that demand will dwindle? Or that profit takers will increase? Or that fear will creep in?
Don't worry, I'm not the one doing that.
As to Gold sure if you take a time slice from there. Now if you take a time slice from Nov '22 nuh uh.
And another way you can look at it, if you took 50% retracement of those two time periods Bitcoin is very comfortably in the positive.
You have to measure relative performance on a peak-to-peak or trough-to-trough basis. I’m not sure why this is so hard to grasp. By definition a HODLer rode their full BTC position all the way down to the lows. Asserting that you could have traded the much larger swings in BTC is neither here nor there.
The claim is that BTC is an “exponential asset” which has nasty cyclical bear markets but inevitably peaks out at 3x-10x of the prior bull cycle high, handily outperforming most other asset classes and delivering superior risk-adjusted returns. Yet, if you owned equal dollar amounts of Gold at the prior peak (Mar ‘22) and BTC at the Nov ‘21 peak, your Gold position is now worth more and you endured a far shallower drawdown to get there.
My point is that actual performance is so far inconsistent with the above claim and with the ludicrous, frantic bullishness of crypto boosters. Obviously, BTC could experience an accelerative breakout and quickly make up the lost ground - but why should it?
I think it’s very possible that people will tire of holding a zero-yielding asset which has run out of bull catalysts, having failed to deliver the sort of explosive exponential gains that folks like johnarb have come to take as their birthright.
You could've been a comedian. Just look at this market. It's like a whiskey dick, unable to get up.
But it's not the whiskey, it's the HOPIUM people are drunk on!
The extremely unfortunate situation is that Bitcoin might actually find a bottom at 65K-63K, only to push past ATHs to sucker in more naive buyers. If Elon Musk is to receive the $56B package then even Dogecoin might pump!
Why ... do you have to measure relative performance peak-to-peak or trough-to-trough.
Who determines that?
And which peak-to-peak or trough-to-trough?
Most hodlers buy or sell in between.
You're a clown.
Days away ... or might push to ATHs.
To sucker in naive .... end of bitcoin world is coming kooks.
It's early in the bull market cycle, the way you're posting and claiming victory makes zero sense
Bitcoin was above $60k for less than 2 weeks in 2021 (13 days), in 2 separate time instatnces April 2021 and November 2021
If you were hodling bitcoins in 2021, you would know how great it was for bitcoin to go over $60k even for a brief time
I started cashing out in the low $40k when bitcoin crashed in May 2021 thinking it was the start of the bear market and I was very happy, you can look for my posts from that time, it's on this thread
Bitcoin has been strong for four months being above $60k and you make it seem like it's horrible price
When bitcoin is above $100k before eoy, and over $300k next year, and over $1M before end of the decade, please post again how bitcoin is such a shitty investment
Because that is the definition of relative strength. Or in this case, lack thereof.