Butters has a bit of a wyc*koff* at the moment and so is feeling a bit down. but I'm sure he'll perk up, either into a consolidation triangle with AllTimeHigh as resistance, or more likely the PBOC has given us the 'Bitfinex moment' of this cycle and we'll have a chance to BTFD around 5200 (butters likes to revisit previous ATH's and lower trendlines out of nostalgia and because honeybadgers are related to bears so it's nice to give them a little something now and again ;)
after the dip there will be a period of sideways, false breakouts, stop hunts, pumps & dumps and general confusion. china will ban it, trump will pump it, a mimblewimble with two heads will be born and bitcoin will die for the 1000th time.
sometime around june or july Butters might just get his boots on.
"what kind of boots are they?" you ask
Why, they're MOONBOOTS BABY!
ok, be calm. Butters is more mature now so don't expect the parabolic exuberance of 2013, when things got so extreme a unicorn would leap out of your laptop,(free) vomiting (pro) rainbow coloured cupcakes (Pro+) and farting Bassnectar (Premium subscribers only).
do expect FOMO, media driven buy-in and people in hyperinflationary countries catching on to bitcoin as a value holding inflation hedge and cheap remittance method, as well as govenments to try anything from banning it outright to adopting it wholesale. do expect the whole thing to flop if the lightning can't be networked or the witnesses can't be segregated.
tl:dr the timing might be off but expect the same moves in the same order as the last 2 bull cycles because composite man or some such gestalt entity at work
tl:dr of the tl:dr pain, then confusion, then pleasure. just like the first time you... bought bitcoins
after the dip there will be a period of sideways, false breakouts, stop hunts, pumps & dumps and general confusion. china will ban it, trump will pump it, a mimblewimble with two heads will be born and bitcoin will die for the 1000th time.
sometime around june or july Butters might just get his boots on.
"what kind of boots are they?" you ask
Why, they're MOONBOOTS BABY!
ok, be calm. Butters is more mature now so don't expect the parabolic exuberance of 2013, when things got so extreme a unicorn would leap out of your laptop,(free) vomiting (pro) rainbow coloured cupcakes (Pro+) and farting Bassnectar (Premium subscribers only).
do expect FOMO, media driven buy-in and people in hyperinflationary countries catching on to bitcoin as a value holding inflation hedge and cheap remittance method, as well as govenments to try anything from banning it outright to adopting it wholesale. do expect the whole thing to flop if the lightning can't be networked or the witnesses can't be segregated.
tl:dr the timing might be off but expect the same moves in the same order as the last 2 bull cycles because composite man or some such gestalt entity at work
tl:dr of the tl:dr pain, then confusion, then pleasure. just like the first time you... bought bitcoins
Trade active:
bitcorn is making new USD highs, and alts are rising on the back of daddy's strength. about an hour ago BTC coughed and alts shat themselves in response, so in times of uncertainty we go to the higher timeframes, hence I'm reviewing this idea. a lot has changed since. China is no longer the king of corn, the SEC rejected the ETF and the Winklevii forked into classic and unlimited in response. India banned money and china banned bitcoin (again). littlecorn is going to try on segwit for size, and if it fits you're going to start seeing segwit everywhere like Alesha Dixon's boob gap in 2016. so why is this chart still relevant? Most miners are still in choina, and they have specific price targets to pay for their power and hardware, so even if the exchanges aren't as relevant, it will be chinese miners defining the sell zones bert will have to push through to make it to "the top", and that will in turn rest on the BTCCNY price, but they will be selling into the hands of buyers across a large spectrum, from the unbanked 3rd world sick of thier govts, to the mexicans cleaning your pool to feed the family back home, to institutional investors that have just caught on to the crypto thing.
tl:dr timing might be accelerating, lift off soon
tl:dr of the tl:dr HODL!
tl:dr timing might be accelerating, lift off soon
tl:dr of the tl:dr HODL!
