Oddbean new post about login | logout I see the price action of #Bitcoin today and my mind returns to a prophetic something @TheGuySwann said on a particularly somber guys take: basically, when #Bitcoin finally takes off again it’s not going to be giant green candles but a slow, boring, grinding march to all time highs. I think about that episode often… I believe this was the episode: https://fountain.fm/episode/I4EHs1KIA15nYA1RDhEp
To my pleb logic, this would indicate higher stability against downward pressure: build support, grow, build support, grow... all the while market cap is increasing, hodlers are growing in number and bags, and more institutions begin to view it as a safe haven.
Yes, firmer foundation, real legs to stand on. The wild volatility is fun, but gradual price action represents deeper and lasting commitment.
Very true, however it will continue this way until we get complacent and expect it, then it will rip faces off, and crash viciously, and rip faces off again, and then obliterate leverage holders, and then oscillate confusingly, and then the market mood will begin shifting again. 😆 While we are in the slow and steady phase right now, the volatility is far from gone… for better or worse.
Haha love it. You’ve been around a long time, sounds like you’ve seen this show before 😅
Once or twice at least 🤣