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40 sats \ 4 replies \ @Undisciplined 22 Jan \ on: 🏷️ $40k Test Incoming 🚨 bitcoin
I'm not much of a technical analysis guy.
I did want to gloat about correctly predicting a dip back below $40k in a SN poll a few weeks ago.
I think this has more to do with the shrinking supply of USD than bitcoin specifically.
I can’t help to think « who in the world has an interest in low prices? » . Obviously the people that want to buy BTC. I feel like buyers are holding their funds as long as they can because the gbtc bleeding still has some momentum…. The consequence is that the first spark could ignite everything really fast… and You would expect some of the middle east countries and monarchies to step up sooner than later…
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Like I said, I don't think it's primarily even about bitcoin. Dollars are appreciating so people are using them for other things than buying bitcoin. Also, we're probably entering a recession, so people aren't going to be adding to their savings/investments as much.
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That’s when i want to be a contrarian… i also think gbtc and usd are not the only factors. Greed from extreme traders with crazy leveraged positions got wiped out everyday too…
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By all means, keep on stacking. I'm with you.
There are many factors, but I try to focus on a small number of the big ones. If those big factors seem to contradict something, then I'll look into it more.
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