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Epic Pennant on BTC Chart


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4 minutes ago, swift_post said:

Why is that NMNR?

Quite simply, btc mining has a breakeven price. I would imagine it's now $7/8k something around there? Either way it's quite far off from where we are now even subject to rise in energy costs and other forms of funding requirements.  

Hash rate increases scarcity, sure. But majority of the bitcoin market in a "bull" cycle care very little about that. Its all about outright price appreciation for which the hash rate doesn't really have much significance. 

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3 hours ago, Eric123 said:

Hope everyone is OK and safe after the Crypto crash.  After a little time spent in the crypto markets you will come to realize  (if you haven't already) that wild price swings are possible.  The exaggerated price swings you find in crypto as opposed to those you find in the equity markets, are caused by several reasons, not the least of which are (high) leveraged trading and low liquidity.   As market adoption continues the price peaks and valleys should become less dramatic, until that time volatility and also opportunity will continue. 

This drop has had no effect on my price predictions for this cycle.  Drops are gonna happen and buying the dip has proved to be the best strategy over Bitcoin's life. These pull backs are opportunities to add to your stack.

I realize most people do not have my tolerance for volatility - what doesn't phase me throws many people into a panic.  Many don't have the stomach for crypto, but for those that can take it, so far they have been rewarded. 

Here's the chart - Here's the lines to break through.  

 

12 6 2021.png

Thanks Eric123. Smartest post I’ve read in a while. 👍

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This is a wonderful graphic.  It would make many of us here very rich if it proves to be true.  On the other end of the scale is Blockchain backers analysis that believes BTC has already blown off.  I follow both and do not have a skin in the game (I am a languishing XRP holder :newblush:)

 

Edited by Julian_Williams
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