You don't have to go home, but you can't... stay... here.
The fake summer bull run is over. We appear to be replaying a repeat of 2016 after the halving event.
Every new beginning comes from some other beginning's end.
Bitcoin Doubling Curve
| 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
|---|---|---|---|---|---|---|---|---|---|
| $100 | $200 | $400 | $800 | $1600 | $3200 | $6400 | $12800 | $25600 | $51200 |
When there's a recent halving event the market struggles to maintain the doubling curve. This time around is no different. Back in 2016 we see that the curve was $600 at the end of June. What happened then? We dipped to $550 in August where we floundered until late October. I imagine we're currently experiencing a repeat of that.
If so, it means we'll get a spike up to ATH for christmas with a legendary and swift dump right after back to the curve. Honestly that's not as crazy as it sounds. Up to $20k in early January with a crash back down to $13k. My $30k prediction is officially off the table at this point. I think we'll have to wait for 2021 to reveal itself before anything super crazy happens.
The time for me to wade back out into super deep water is here.
That's right, boys and girls.
I've retreated from the exchanges and powered up my precious stake. 90k powered up. WOW. Was 32k three days ago. Like a boss. I've got my $1 upvote back... make that $1.28. So weird to know I can create $385 a month out of thin air even when the market is bleeding out.
Leo!
4.8k coins I powered up were on HiveEngine. Yes, HiveEngine is also a centralized exchange. Those coins were reserved to buy LEO should LEO need support. Something tells me LEO is doing just fine. As an Ultra whale the only logical course of action is to keep selling into this demand. That's what whales should be doing, providing liquidity to the market. This is especially relevant for LEO, a community of zealous holders.
Important side note:
I just found out that LeoDEX is undercutting HiveEngine by a huge amount. I was able to cash out my Hive.Swap coins for a quarter percent fee instead of a full percent. Another win for the LEO community.
From 3 to 12 cents in a week?
Yeah, I'd say we're doing okay. Nothing to see here.
Conclusion
In my opinion, we have just dipped into a bear-trap of epic proportions. This isn't playing out exactly like the second halving, but it's damn close especially considering all the other events like COVID and a collapsing economy. Bitcoin isn't going to be doing much over the next month, and even by the end of the year I'm "only" predicting it will go x2 from here, with a strong dip to follow. Once again, as has been predicted for years, we really just need to be patient and wait for the epic bubble of 2021.
Return from Party is over: Time to hunker down. to edicted's Web3 Blog
