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RE: Bitcoin - We have seen this pattern before...
Yes this is all very interesting.
What is crazy to me is the very huge price run in the first breakout. It is much higher this time than last.
To me this is super healthy or super scary. We could either be in a real bull trap, where prices are going down to 1k
Anything is possible, and I mean that in the truest sense, especially as it relates to crypto. However, what is more likely at this point, bitcoin were to repeat what it has done several times in the past or do something it has never done before? "This time it's different" are some of the most dangerous words in investing. :)
It has to look sketchy, a market which looks like certainty is doomed. Just like at 15k, 16k, 17k Bitcoin. Investors could throw money in and be up 10 percent within 24 hours. Those types of investors were not smart enough to invest when Bitcoin looked sketchy like it does now. They never believed in the first place and got Rekt. Temporarily rekt if they sold that is, which again shows they never believed in the first place. The only people who deserve to make money are patient investors who believe in what they are investing in.
Agreed. Often the biggest gains are from buying when things are the "sketchiest". That could be very true with steem if they can turn things around here... I am hoping!
1k btc would be just an investors dream!
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Yes it would. Though if we broke down to those prices it would likely be due to some major fundamental shift... I am not sure I would want it then. :)