While not fun, this dip is still likely just a bump in the road on the way to higher prices...

in bitcoin •  4 years ago 

While pullbacks are never fun, they often are needed to flush out the leveraged longs and get some short sellers involved as fuel for the next leg higher....

There are several reasons to continue to be optimistic about what is going on today, mainly because it's still not doing anything that different than it's always done.

And if that is the case, it's probably a buying opportunity:

image.png

(Source:

1383821293695295488) twitter metadata:QlRDX0FyY2hpdmV8fGh0dHBzOi8vdHdpdHRlci5jb20vQlRDX0FyY2hpdmUvc3RhdHVzLzEzODM4MjEyOTM2OTUyOTU0ODgpfA== ~~~

It just completed the first stage of what is likely to be a 3 stage bull market.

Bitcoin sees a number of patterns that tend to repeat during it's bull market and bear market phases.

These phases make up the 4 year halving price cycle.

The interesting thing about the bull market phase, which is what we are in now, is that we tend to see 3 distinct surges.

Looking something like this:

image.png

(Source:

1383432476979200018/photo/1) twitter metadata:V0NsZW1lbnRlSUlJfHxodHRwczovL3R3aXR0ZXIuY29tL1dDbGVtZW50ZUlJSS9zdGF0dXMvMTM4MzQzMjQ3Njk3OTIwMDAxOC9waG90by8xKXw= ~~~

So far, these surges have played out in a similar fashion 3 out of 3 times.

Currently we just saw the first surge peak recently as shown on the far right side of the chart above.

Going off of past patterns, we could probably expect to see at least 2 more of these surges before BTC eventually tops out.

The 3rd surge tends to be the largest of the 3.

Buckle up, it's going to be a wild ride from here on in.

Stay informed my friends.

-Doc

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  ·  4 years ago  ·   (edited)

This dip is healthy, I used it to buy. I hope it keeps going to the moon!
What happened to you on HIVE? Why did the bees get all mad and attack?

  ·  4 years ago  ·  

They said because I was selling hive/leo for steem, which I was not. They were mad because I was earning on both steem and hive and kept a big stake in steem. Ironically a lot of them are doing that same thing now... go figure.

  ·  4 years ago  ·   (edited)

Oh yeah they just tried to get me to leave too. They doing the same thing, all of a sudden the LEO BEES / hornets attacked. The got mad at me because I said that Proof of Brain was better than LEO, so they sent someone into Proof of Brain to infiltrate it, flag me so I would stop pumping the price of POB. Go figure... It's bizarre.

  ·  4 years ago  ·   (edited)

Yea well there's a reason the retention rate is so terrible with that group in charge... they run people off so they can keep their tight group earning the lion's share. It's not by accident.