Are you still considering a longer term outlook that involves a correction down to $100-200 levels? That’s like 1% of current value. It seems impossible at this stage. I’m not sure if that has been invalidated by recent action?
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Do you have a time machine we can borrow?
It is getting insane now. Watching BTC, an $8.5k asset, move 15% in 3 days is madness. A new fork every day creating money out of nothing. And BTC still isn't being used (substantially) for anything but speculation; there is no substance! Yet you can see the fomo and greed building.... these are worrying signs indeed.
I'm looking forward to the major correction. I will short, make money, and buy back in when the bull mania has ended.
I couldn’t agree more, but a 98% drop isn’t a correction! It’s the end :) A 20 - 30% pullback seems more than reasonable though given the hysteria. I’d be a buyer again at those prices. Would love to pick some up at $200 too! ;)
Exactly. A 98% drop is not a correction. I don’t see how any asset can recover from a crash such as that. 20-30% seems reasonable, even 50%. Bitcoin has had similar before.
It's not money out of nothing. It's just like any other altcoin. It has value because people give value to it (and put money on it).
I'm on the same wavelength as you, come on correction!
Major cycle correction remains on the horizon. Timeframe unknown.