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If it does hit $40, it would indicate a far weaker demand for the entire crypto market than expected when based on the number of active wallets. It would signal that we've already reached peak adoption... I'm confident that's not even close to being the case.
I don't see it closing anywhere near $40 on the weekly chart. $60 is really pushing it, and $70 is more likely.
I'd be very leery shorting right now as a long term strategy. This is a consolidation.
I don't see it closing anywhere near $40 on the weekly chart. $60 is really pushing it, and $70 is more likely.
I'd be very leery shorting right now as a long term strategy. This is a consolidation.
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@aghaparsaa, That's certainly possible, but on which chart? I wouldn't be surprised to see a dip to $40 on the 4hr or less, but I suspect there's more than enough confidence left in LTC and crypto as long term investments to absorb most of those sell orders just as quickly as they come onto the market.
I get a sense that almost everyone is using the same strategy of looking at the timeline of the previous cycle and assuming that we have more than a year left of consolidation before the start of the next rush towards 5-10k. For that reason, I expect an accelerated timeline and much more competition from people trying to get in at the lowest re-entry point...
I wouldn't be surprised if the time between peaks is very compressed relative to last time because as the years go by, the relative risk is decreasing, and a lot of people are predicting another price spike in the future... That self-fulfilling prophecy is the reason why the risk of missing a good entry point only grows as the price decreases...
I get a sense that almost everyone is using the same strategy of looking at the timeline of the previous cycle and assuming that we have more than a year left of consolidation before the start of the next rush towards 5-10k. For that reason, I expect an accelerated timeline and much more competition from people trying to get in at the lowest re-entry point...
I wouldn't be surprised if the time between peaks is very compressed relative to last time because as the years go by, the relative risk is decreasing, and a lot of people are predicting another price spike in the future... That self-fulfilling prophecy is the reason why the risk of missing a good entry point only grows as the price decreases...
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daghighan hamintore
aliiiye in tahlil
in arz ta ghable sale ni miladi roshdi nemikone vali ehtemalan badesh roshd khahad dasht
aliiiye in tahlil
in arz ta ghable sale ni miladi roshdi nemikone vali ehtemalan badesh roshd khahad dasht
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