Halvening Hype
I see a lot of this regarding the price of crypto's:
SKIP TO 0:41
"Nobody knows if the price is gonna go up, down, sideways, or in fucking circles."
Not quite the case when it comes to bitcoin on a yearly chart, in fact, the price is almost down to an exact mathematical law. When you put the price of BTC into a logarythmic graph, this is the chart you produce:
A pattern that many will exploit
As you can see, the price of bitcoin has been tethered strongly to it's halving pattern since 2011. When I first saw this graph, we were in the red accumulation zone. Unfortunately, I did not buy enough bitcoin, instead opting for more alts which have famously decoupled from bitcoin in the last bear market.
So I missed gains on the expansion zone we're going through now, that's not a big problem. I've still got until Q2 2020 to accumulate as much as possible.
You may also have noticed that our next bull market is due to peak in Q1 2022. I am personally a HODLer, however it should be said that hodling crypo after this point is (financially) a bad move unless you have thousands of steem locked up in steempower like myself. I won't sell my steempower.
Halving Countdowns
Below I have included the countdowns to both the litecoin and bitcoin halvenings, provided by @coingecko
Bullish on both LTC and BTC
Absolutely! Just a matter of working out how I'm gonna pull out as much profit as possible from the cycles...
Yeah I got caught with my pants down a bit because I converted most of my BTC into alts & STEEM 🙈
Nobody knows what these prices will do in the short-term. I try to remind myself to look at this whole thing from a yearly perspective rather than a day-to-day like all the crazy CT nutcases.
p.s. I watch that wolf of Wall Street clip at least 1 time a month. Might need to up that number.
I'd go as far as saying I'm a bitcoin minimalist 😂 I have like 6 coins I hold more of than bitcoin and it's killing me to see it go on these huge runs. I'll l probably just dollar cost average into Btc every time I get paid lol.
I watched that video about 50 times while writing the post...
Well said, a lot of it is Bum guff, normally from people hoping to gain on the downside, it's great its back on the upside, but we will have to see how long the bulls can run, the last Bum guff I heard was it was all to do with Hong Kong and the trouble there.
Yeah, I don't think it'll be a problem for the bulls at the minute. No one wants to sell, and millions of dollars worth of short positions are being liquidated week on week which is pushing the price up further.
The halving literally removes half the new supply. Meaning the demand is effectively doubled.
I think we can expect this
pump n dumpmarket cycle to last a lot longer than previous ones.Hi, @sisygoboom!
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