This is the progression of a potentially volatile situation for BTC.
This last increase on the 1D was parabolic. This means a retraction of 80% would be permissible. Unfortunately, this would have it lie beneath some very critical supports.
This has been seen before, as you can likely recognize. This is what happens when those who lost money during the crypto crash of 2021 will try to redeem their negative PNL’s and are buying late in the game, this is called a panic buy or (FOMO)
This chain reaction, is exactly what happens in bubbling assets, and it’s a shame. Long term investments during a bubble is not advised, nor is selling after it pops. Although buyers were more cautious after the crash, that quickly disappeared after Amazon bought BTC in the 30k’s driving up prices to 48k.
Remember, Amazon can sell this at any moment, as can anyone else. Buyer beware.
This last increase on the 1D was parabolic. This means a retraction of 80% would be permissible. Unfortunately, this would have it lie beneath some very critical supports.
This has been seen before, as you can likely recognize. This is what happens when those who lost money during the crypto crash of 2021 will try to redeem their negative PNL’s and are buying late in the game, this is called a panic buy or (FOMO)
This chain reaction, is exactly what happens in bubbling assets, and it’s a shame. Long term investments during a bubble is not advised, nor is selling after it pops. Although buyers were more cautious after the crash, that quickly disappeared after Amazon bought BTC in the 30k’s driving up prices to 48k.
Remember, Amazon can sell this at any moment, as can anyone else. Buyer beware.