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I only check the bitcoin price a few times per week now under normal circumstances, but I saw a ton of people whining about it so of course I saw the recent breakdown.

I sometimes throw a few extra bucks at it on top of my normal dollar cost averaging when there are heightened liquidations.

In the prior consolidation, Bitcoin peaked in March 2024, consolidated for a while, then broke down in September 2024, before breaking out to the upside about a month later. Technical breakdowns mean little. Charts are useful sometimes, but mainly for those who don’t know what they own.

I like technical breakdowns when the fundamentals are still solid. It lets out froth. A lot of the post-election stuff is struggling, which is normal. That’s why I faded the hype originally. When all of it weakens, I’m still here.

Still adding for the long run.

Narwhal Tacos 10mo ago 💬 8

I’m actually going to lovingly call bullshit on you Lyn.

I think you’re (perhapsedly) in the same sinking boat we’re all in.

Bitcoin is clearly breaking.

But it’s a game of chicken who (with credentials) admits it first.

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Discussion

code monkey 10mo ago 💬 2

What the hell are you talking about? Blocks are still being produced, transactions are still getting confirmed, and price is at $92,000. This is the most high time preference emotional thing I think I've ever read.