Oct 23: One month away from Bakkt launch
The wicked witch of the Bakkt dump is behind us.
I had this post written out yesterday. I thought we might see some action one way or another today. LOL @ crashing immediately sub $7500. Kudos to everyone who waited for this to happen. I've been predicting this since June.
It's important to note that Bitcoin gained no dominance during this crash. I find that very significant considering it's been stomping on the market for so long.
We've turned a corner.
For the most part everything just fell 8-10% in tandem.
Litecoin dipped to the exact level I wanted to buy at. All in.
But what if more crash?
In my experience with Moore's Law support Bitcoin can only crash down to an absolute minimum of ~$6000. This would signal perhaps one of the best buying opportunities ever.
However, that's just not going to happen. With a potential winter bull run right around the corner and all the halving hype about to go around no one is really looking to sell at this level en masse.
Did I forget to mention our shit-show of an economy that's about to implode? Bitcoin was invented for times exactly like this, and the vast majority of the world is clueless about how any part of the economy works. That's fine, we can't all have the same priorities. Plus, even professional economists are full of shit half the time.
Predictions
Bitcoin will easily breach all time highs before the end of the year. I expect as soon as Bitcoin breaches the last resistance line of the summer bull run it will immediately spike up to 10k. From there the value of bitcoin only needs to double during November/December to reach the ATH of 20k. I say that will easily happen. The market is primed for another "small" bubble (x2, x3, x4).
From there, December and January will be a volatile crapshoot. I'm hoping the market bottoms out in late Jan or early Feb, and then starts ramping into an epic halving pump and dump just in time for mid May. I'll be looking to sell during late March or early April and then buy back in early June.
It's weird having a full year's worth of swing trades lined up.
There are a lot of undeniable waves in these choppy waters.
Wish me luck.
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I was both pleasantly surprised and mortified over what happened in the last couple of hours. Think it's time to commence Operation Averaging over the next few weeks and just keep acquiring on the weekly. Steem at 9.7p though ooooo
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I’m loving it I am looking at 6400 to buy in big on BTC and 0.08 on STEEM and I’ve got my eye on a few other Alts! All about that stake life
I think that next year with halving hype we will see some ATH kinda price action and I’ll dump my bags and buy in once it’s over lol! I think this will be my last dump before I HOLDL for the long term
This shit show economy means we have to hedge our bets with crypto
IMO it will only get that low if there is no winter bull run.
Certainly possible, albeit disappointing.
I love your posts. I wish I'd discovered them earlier.