(Jan 3, 2025 09:26 AM)Omniscient Wrote: Your post makes me think we're hitting $70k.
I just don't trust predictions. I just watch the ride mostly. So incredibly hard to tell what the market wants to do. My instincts tend to agree with you, I think 3rd week of January we see upward movement but who knows what it will do in the meantime. I have no doubt we'll see $130-150k soon enough, just hard to peg exactly when.
I'm okay with that, I have predicted a correction $70K for a while now actually. I'm DCA accumulating again, not lump-summing today.
I have it at 70-112K for channels formed in my trend lines a few months ago, but I didn't predict 90K until Feb 1. If we end up bouncing around this area, then that's in line with my predictions for the period and I'm ok with that.
- I think I've shared with you before, but long-term I put the height of a major repeat at the $380-430K mark with easy points to take profit along the way. Even so, that's still barely a 5x from here, and there's a lot of time to invest in other things besides BTC. I could just as easily see a death throes event followed by a long bitcoin-winter as another crypto takes lead in the fast-changing world we live in. I don't predict that until we do truly hit these higher, more absurd numbers to shock us backwards, but at some point... sustainability, scalability, speed, and low cost transactions will prevail over the tulip bulb digital gold Bitcoin we have now.
I know that I will eat some 15-30% swings on a DCA, and I might not time each swing, but I can always move funds around, use stop loss, etc. The other part though is that having reserve cash for lump summing in at a drop to 60-70 is something I'm prepped for. I'd prefer healthy results over next few months, even if it's not a major pump - I am in the markets for decades and don't need it all at once.