Interesting historical note from the BTC logarithmic chart.
The last time the 12 & 26 MA crossed back above the 50 MA after crossing below it months prior (as it did in May), we had an uninterrupted bull run that lasted over two years. Something to remember, if we can rely at all on the past to predict the future, that is. (;
Included halving dates and Bakkt launch for reference, as I feel that we sometimes forget that the price can be changed by external factors that aren't immediately obvious on the charts, and we are lucky to have any idea when said events are coming.
(Side note: I've been wondering about a phenomenon I refer to "predominant prediction bias" in my head, but I'm sure there's another name for it. Isn't it true that the more people post and talk about the price behaving in a certain way, it more or less reaffirms the prediction? Like, as more and more people say the price of BTC is bound to go up, it feels as though more and more traders would see this info and buy, thus... causing the price to go up as predicted. Same for a predicted drop in price. If that indeed does happen, wouldn't it just behoove us all to have an optimistic outlook on the price of BTC? Curious to hear your thoughts on this.)
Included halving dates and Bakkt launch for reference, as I feel that we sometimes forget that the price can be changed by external factors that aren't immediately obvious on the charts, and we are lucky to have any idea when said events are coming.
(Side note: I've been wondering about a phenomenon I refer to "predominant prediction bias" in my head, but I'm sure there's another name for it. Isn't it true that the more people post and talk about the price behaving in a certain way, it more or less reaffirms the prediction? Like, as more and more people say the price of BTC is bound to go up, it feels as though more and more traders would see this info and buy, thus... causing the price to go up as predicted. Same for a predicted drop in price. If that indeed does happen, wouldn't it just behoove us all to have an optimistic outlook on the price of BTC? Curious to hear your thoughts on this.)