Hello $7500!
If I had any hedge money to gamble with right now this would likely be my all-in point. The market is once again fully bottomed out.
Or is it?
I feel like this return to $7500 is decidedly very bearish. I'd of thought $8000 would have been a good enough unit-bias support if we were actually going to have a winter run up. Again, I'll expect very little in December if the market doesn't pick up by the end of the month. Considering how volatile the market is right now, we all know it can do some crazy things.
$6400
According to my Moore's Law predictions that have yet to ever fail me, $6400 is the baseline value Bitcoin could possibly crash to by the end of the year. A return to this ultimate support would definitely signal a massive pump in the near future.
Tone it down
Gonna make these speculation posts a lot less often; say for movements of $2000 or more. In the end obsessing over price action is the last thing I want to be doing here. I have enough addictive attributes as it is, don't need to be constantly riding this roller coaster.
Truth be told I have nothing much to say on the matter anymore. Assuming the market trades flat for the next few months would mean the next thing to look forward to is the halving FOMO. I imagine that won't start until around February.
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I think we should have been back at $7,500 a long time ago back to how it was before Facebook announced Libra. We honestly should be even lower then that now.
I don't know about you but cryptos lost a ton of its buzz for me anymore and I don't see much coming of it.
Stack up those sats! Was a bit of a shock when I checked old Blockfolio earlier to see a whopping great dump on my holdings. Of course, pretty driven by BTC. In comparative terms, steem price in sats hasn't been too adversely affected, just the GBP price due to BTC falling.
So, strategy... Capitalise on this BTC price drop with the spare fiat I keep in reserve (seeing as these are the prices that a lot of people had been hoping for again, better get a move on), average it out over the coming weeks and, if BTC breaks out before alts, ride it out and look for the opportunity to get some (more) steem on the cheap, seeing as RC pools are going to be a useful tool for communities and SMTS.
This dolphin got on his booster pack to make it to Mark II 🐬
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