I mean so far it's going like i said; an orchestrated exit pump to trap the suckers and then the rug follows as we dump along with the stock market. Let's see now if the dump follow or not. If it bounces to like $105k, i will probably be shorting. Coinbase to get included in the sp500 seems like a big deal, makes me think altcoins have yet to pump before it all implodes, so there MIGHT be an opportunity to load up on ETH, DOGE, ADA and other crap coins off coinbase on the dump and ride them into blowoff before the implosion of the entire ecosystem.
There we go...now lets see a drop to 96k or so just to confirm the double correction and we can all go about our lives until the end of the year...expecting about 70ks maybe lower by late fall just in time for the @johnarb post year and a half halvening rally I'm expecting a repeat of the highlighted area, but until I see some confirmation levels I'm not convinced this won't blow through the top...BUT if we take crude C&H measurements that the target is the height of the cup added to the breakout then we are close to topping.
Bitcoin is not Gold. In the end it is a risk-on instrument. If it was a risk-off instrument it would gone higher and stayed there like Gold. There have been times where Bitcoin did react similarly to Gold so it is not as simple as black or white but generally speaking it is not Gold. Novogratz of Galaxy Digital makes the case that Bitcoin is in fact e-Gold but it has not reached a point where it can be called stable so it behaves like unprofitable tech stocks. I can see that viewpoint as well.
I think he spends all day looking at the bitcoin regret calculator or something...early on he was pro crypto and even held some btc I think, but some naysayers around here convinced him to sell. Here is the first crypto related post I can find from him.
We hit above $107k and the highest close ever for bitcoin (so I read, lol) Bitcoin has not gone below $100k for over 11 days! It's a coiled spring ready to shoot up to $150k+ only being suppressed by stupid macro problems, bitcoin doesn't care, tick tock next block Bitcoin bulls are very much in control, no fear, let's f*c*1ng go!!!!
It seems like it's better to own at least one of the "treasury companies" than the magic money itself. The first post was making the rounds today.