Hearing 83k is the bottom is very pleasant to me at this stage. 58k is the floor tho. 🤭
Discussion
If you are right, then supercycle is very very far away still. But if you are right about this, then where will the open interest be at those prices? It is already below the summer highs.
Looks like a bottom to me. I bet on 21k before the ETFs for a bottom. What was your target?
Just want to compare our biases.
I do not do TA. Also bitcoin being 58k forever has little to do with the price, it's a meme. Early January I dared people to take my even odds proposition: bitcoin to dip 40% at any point this cycle measured from ATH. People claimed bitcoin won't dip this hard since the smart money are in. Unfortunately, nobody took my bet, which is asafd thing for trash talk, bitcoin education and probably democracy. 🤭
^which is a sad thing 🐸
40% makes sense to me. I just think it should price in the SBR first. We priced in the Trump team, got impacted by tarrifs and stocks and scared that SBR was far away. Now we have to price it in, and then get scared that the actual buying will not start soon enough. My thoughts are based on nothing. Not an advice.
I'm not taking financial advice from anyone these days. 😅
In the beginning I followed a bunch of shitcoiners talking about bitcoin and shitcoins. They appeared smart to me because I was clueless. They called them altcoins so it took me a few months to understand why everything which is not bitcoin in your self custody is a shitcoin.