The U.S. Dollar Index disconnecting from Bitcoin does not necessarily mean that the BTC price is about to experience a big rally, historic data suggests.
I feel like BTC is taking too long to break resistance. Maybe it’s going to take another dip before another rally. What do you think?
Besides people who bought bitcoin when the price was high and are now praying for it to get back to near those levels so they can sell it and get the hell out are there many people seriously interested in it?
Yes, there are. If BTC goes below $16K I start buying. But I don’t think that will happen. I am patient to wait out the cycles, and I think it more likely than not that BTC will repeat its last four cycles again. As intelligent people we always seem to say “it will be different this time”. I admit and agree that market hype is not always perfectly timed, but our current crypto and precious metals positions are looking very attractive, whether or not the markets go down, up or sideways. Remember the tortoise and the hare. My timeframe is intergenerational. I will make decisions in a timeframe that is appropriate for the lifetime of my sons, not my own. And I have been doing that for the past two decades.
I think a Bitcoin ETF being approved by the SEC could certainly do it.
I think the Bitcoin of 2017 and modern day Bitcoin are completely different assets.
After that rally, the attitude of traders and investors towards this asset and cryptocurrencies in general has changed a lot. So, I think that what we will see next is not predictable.