I am still expecting something like this. Which is fine and healthy. We can also break out soon(-ish) but that would require a quick turn around to 8.5 or so. All is possible. I think we will follow the path below, even though I bought around 8.2. I hashed my bet in case it doesn't go down. Long term: no matter.
Here is a close up...
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Starting to buy (layering in) the dips because more likely than not sentiment is turning. Only thing I’m afraid of as a bitcoin bull is the upcoming economic downturn. Cryptos haven’t been tested during a risk off environment.
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Well done. I also thought about that scenario of an economic downturn. But I think that bitcoin could be a good opportunity to park free capital from a downturning stock market. Like a virtual gold.
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It could prove to be resilient, only time will tell. It is after all a millennial store of wealth (virtual gold) and millennials have experienced the Great Recession and been fear tested.
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