BTC - Right now is likely one of the Top 3 greatest times to buysteemCreated with Sketch.

in bitcoin •  3 days ago 

Bitcoin sneezes and Crypto Twitter catches a cold

We are likely within the Top 3 greatest times to buy bitcoin and everyone has turned bearish.

That is to be expected though, and probably needed for bitcoin to actually do what many are expecting it to do.

It's funny though, all the so called analysts and experts out there are all slowly turning bearish as bitcoin has not really started its 6 month pre halving rally.

However, I think that was more of a general guideline than a hard and fast rule.

Any time I start to question things, I just remind myself with charts like this:

(Source: https://twitter.com/RiggsBTC/status/1201508094947332097)

Looks pretty simple when ignoring the noise and just looking at the charts.

This is very likely one of the Top 3 all time best times to buy bitcoin

I can't say for sure as I don't have a crystal ball, but if history repeats, right now is the time to buy.

We have likely just started the 2 year bull cycle.

It will likely peak sometime near the end of 2021 if the past cycles are to play out yet again.

That means while everyone else out there is turning bearish and starting to sell, it very likely might be time to scrounge around those couch cushions for some spare change to pick up as much bitcoin as you can at this level.

It very likely won't be here for long.

(Source: https://twitter.com/RiggsBTC/status/1201555163594592256)

I think I'll bet with the 95% correlation.

Stay informed my friends.

-Doc

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lets see where it goes

Yes, lets.

It's crazy to me that people haven't caught on to this yet.

Looking at past trends, it would be crazy to sell right now. It (raging 2 year bull market) may not repeat, but so far the odds say it will.

Thanks for sharing the data :-)

I'm not sure what to say about the whole, "this halving is going to different from the others... ", since there is more institutional presence in the crypto space now more than ever, and some of them don't truly understand the nature of halvings and their consequence.

I personally hope that the pre-halving rally is on going into 2020, and it affirms Bitcoin's core growth as a store of value as supply is being limited, and demand keeps rising. That said, I don't know how the institutions are going to react to that.

The market is certainly different now than it was back in 2016, but 2016 was also different than 2012, and it repeated anyways. We shall see how it plays out. My money is that it will repeat with a massive rally, but it may not happen at the exact spots the previous one did, IE it may take a little longer.

I do agree with that, the cryptocurrency industry has grown over time, so changes are natural, and welcomed. I do believe there will be a similar rally as per the previous ones, and as you say, perhaps the rally won't occur along the same path as the past rallies. The big question for now it how we'll end 2019, as it may affect our 2020 moods :-)

It should start moving north here soon, well if past history plays out in a similar fashion again here.

Cheers to that!