Quite a tough time at the moment, the price just does not seem capable of breaking out. Its been 6 months now of chop, with lower highs & the price slowly decreasing. September is historically the worst performing month for Bitcoin, we just have to get through another 3 weeks without the price collapsing on us. Rate cuts in 14 days, hopefully that gives us a little boost.
Uptober doesnt get its name for nothing, the fourth quarter is the best performing quarter for Bitcoin. We are getting close to a trend reversal I think. It continues to be tough mentally but we will get through this and come out the other side in the last and most rewarding part of this cycle, 2025 will be wild, we just need to get their with our sanity intact.
HODL my friends.
literally everybody, noobs and OGs alike, waiting for the big cycle pump, I wonder if Mr. Market will really please everybody.
We might as well have a longer time (1-2 years) chopping sideways and a little down until most peeps get bored and give up their hope.
That's not what I want but, again, it's
rather rare that market does what the majority expect.
Funny to think about bitcoin performing against the majority of expectations as any kind of a guiding principle, and yeah, those who buy bitcoin and expect it to go up are within the minority of the population, since only around 1% at best of the world's population buys bitcoin... but you are not talking about the majority as being comprised from the whole world's population, yet maybe you are suggesting that the majority is drawn from BTC market participants, whoever that might be.
Even though what you are saying seems kind of weird, I thought that I knew what you were saying.. something about market sentiment, yet I am not much of a fan of market sentiment being a very great point of analysis, even though a lot of folks do like to attempt to connect market sentiment to BTC price performance... Isn't that what the whole fear/greed index is all about?
https://alternative.me/crypto/fear-and-greed-index/[edited out]
Pretty much everyone is expecting a monumental rise over the next year. That leads people to do dumb things with leverage. The market is great at hurting these types of traders, so you can bet that theyll have their leverage tested with price drops and long sideways action until they cant handle the interest anymore or they get liquidated. This is absolutely necessary if we are to reach the moon.
Surely the leverage dynamic plays into some of the short-term price movements that create incentives to go against sentiment. There are not too many of the WO regulars who admit to playing around with leverage, except maybe if they did it "accidentally."
