4 ms·
I think it's an ongoing cycle, but with Bitcoin as time has gone on, the panic phases have been shorter and shorter. I mean just 2 weeks BTC was ~1/2 of what it
by twox2 5y ago
I think it's an ongoing cycle, but with Bitcoin as time has gone on, the panic phases have been shorter and shorter. I mean just 2 weeks BTC was ~1/2 of what it is today. I do wish it were more clear what drives the price though... I suspect that when the mega rich / institutions take large positions in BTC they don't do it on the open exchange... so is it really retail demand that can move the price like this in such a short period of time?
- greenail 5y agobut the question is: how easily can you detect profit taking? here's an interesting analysis: https://insights.glassnode.com/follow-the-smart-money/ https://insights.glassnode.com/follow-the-smart-money/
- alwillis 5y agoWilly Woo is that dude when it comes to on-chain bitcoin analysis [1]. [1]: https://willywoo.substack.com/ https://willywoo.substack.com/ BTW, definition of “that dude” that’s serviceable for this context: that dude The person that everyone is trying to be like or looking up to. He influences the crowd and girls love him. http://that-dude.urbanup.com/1581909 http://that-dude.urbanup.com/1581909
- Kranar 5y agoTwo weeks ago BTC was at 55k or 85% of today's price.
- twox2 5y agoYep looks like you're right... but 3 weeks ago it was 41k, and 3 months ago it was 32k... my main point stands though.