How are you feeling my fellow human being?
I am hoping you have great plans for this weekend, or that you can relax at home or do whatever you want. Life is a blessing. Do as you wish.
I was thinking... What if?
➖ What if we are being too conservative?
➖ What if we get it completely wrong?
➖ What if instead of 40,000 or 30,000, Bitcoin moves below 30K next month?
What if, what if, what if...
Bitcoin has been going down now for five months straight, from March through August. This month Bitcoin is going to close red, thus six months red and September is likely to produce another negative month. In all, this would produce a massive long bearish streak of 7 months red. How can we interpret this information?
Price projections; up and down; bullish/bearish potential; all of it is pretty much dependent on time.
If all the time we had were just two weeks, we wouldn't be considering much lower; not much to see. But when we have months and months of time for things to develop and we haven't seen anything positive in the past five months, don't this open the doors for something quite unexpected in the last two bearish months?
What is the least possible scenario in your mind right now?
➢ Bullish
Can Bitcoin move to $150,000 in September 2024?
What are the probabilities of this happening?
Is this even possible?
Food for thought.
➢ Bearish
Can Bitcoin move to $20,000 in September 2024?
What are the probabilities of this happening?
Is this even possible?
Now, I can see some people reacting right away; a sudden unconscious reaction. If you are one of those, did the reaction happen with the bearish or bullish questions? They are both one and the same but inverted.
➖If you reacted to the bearish scenario, you have a bullish bias.
➖If you reacted to the bullish scenario, you have a bearish bias.
In truth, there is no need to react. These are fair questions.
We cannot predict the future but we can make an educated guess as to potential future scenarios based on the data we have available. We can also make projections based on past history.
I will make two analogies:
1) Say someone is studying to become a doctor. They are doing great and completing all of their courses. You can easily assume that this person will end up with their degree if they continue in the same course.
2) Say we have 10 friends. Five are doing pretty good and another four are doing pretty bad. Out of the four doing pretty bad, you noticed that all of them dedicated their lives to practices that are not conducive to success. The last one remaining out of these tens, is engaging in the exact same practices as the four that are doing pretty bad. You can assume, easily and normally with a high level of accuracy, that this one too will end up in a bad situation.
This is how we look at the charts:
1) We see Bitcoin growing long-term. Making strides in the financial world. Being accepted through all financial markets and all is very good. We know Bitcoin is good and growing long-term.
2) We see Bitcoin going down for five months straight and the same conditions remain. We can easily assume lower.
Ok... So, what do you say?
Is Bitcoin headed toward $100,000 or 30K?
Thank you for your support.
You are truly appreciated.
You are a divine being with eternal life.
You cannot be killed... In essence, you cannot be harmed.
You are special.
Thank you for reading.
Namaste.