CoinSheet #259 Repetitive complaining will attract things for you to complain about. Repeated gratitude will attract things for you to be thankful about. — Unknown I'm not dead I had to take a short hiatus because of mostly personal stuff. In contrast to William James and his radical empiricism (

	Back from hiatus CoinSheet #259 Jul 6 Public post Repetitive complaining will attract things for you to complain about. Repeated gratitude will attract things for you to be thankful about. — Unknown I'm not dead I had to take a short hiatus because of mostly personal stuff. In contrast to William James and his radical empiricism (no set of experience has authority superior to any other set of experiences), I like to disparage my inconveniences as difficulties that come along with privilege. So I'd rather express my gratitude and thanks for what I have, than bitch and moan about a pebble in my shoe. With that said, CoinSheet will be returning to its regular (regularly late) weekly scheduled programming. Market Sentiment Bitcoin I last left you with this. And below is an updated view. We saw: Bitcoin price hit the 61.8% fib resistance (red level in the photo above) Dropped on the weekly TD9 to the ~7,500 support level Rally pump, and exhaust itself at the 32.8% resistance level (~13,500) Dump 30% and find hard support at the previous 61.8% fib resistance And is now currently sitting on the 50% fib resistance I haven't been following Twitter much lately, so I'm not entirely sure what the sentiment is, but I did share this tweet about a week ago. Dmitriy@Dmitriysz I hope people realize that we're never going to see another 80%+ BTC correction June 27th 2019 1 Retweet43 Likes I really don't think we're going to see another massive 80%+ bitcoin downside correction. The reactions to this tweet lead me to think that people think 80%+ corrections are normal or that people don't aren't accurately estimating the market maturity of bitcoin. Here's an exchange with Vortex (hardcore bitcoiner, cool dude) where we disagree. Vortex@theonevortex @Dmitriysz 80% corrections are healthy after going up 1000s of percent. Vortex@theonevortex "This time it's different". Remember #bitcoin's market cycles are priced around its halving. We'll still be having huge pull backs all the way up to the 6 digits. If you think we're not going to correct from $100k to $30k I got a bridge to sell you. https://t.co/rWv022YQoS June 27th 2019 1 Retweet9 Likes Vortex@theonevortex As people have correctly stated in this thread $100k might not be the top, the price in the OP was simply an example. If the price went from $250k to $40k, the point would still stand. June 10th 2019 5 Likes Dmitriy@Dmitriysz @theonevortex Referencing the 250k number in the tweet, BTC marketcap would be ~4.5 trillion, about half the value of the present day gold supply. An 80% correction would be a disaster and really put a dent in the whole "store of value" meme. June 27th 2019 Dmitriy@Dmitriysz @theonevortex So I don't think you can, at the same time, buy into "80% corrections" and "store of value" (I'm assuming that when btc reached 250k it will be considered a store of value) June 27th 2019 Vortex@theonevortex @Dmitriysz You are clearly speaking from fear, not logic or price history. Vortex@theonevortex @Dmitriysz "An 80% correction would be a disaster " *looks back on the 4-5+ 80% drops in #bitcoin's history* Nope, wrong. June 27th 2019 3 Likes What do you folks think? I'll just leave you with this food for thought. To the folks who keep saying that bitcoin is still a young baby, the euro is about 20 years old. Bitcoin (Macro Overview) We're about ~317 days away from the next halving event. The end We'll be taking a closer look at the markets on Monday. That's all for now. See you later space Cowboy -Dmitriy You're on the free list for CoinSheet. For the full experience, become a paying subscriber. Subscribe © 2019 CoinSheet LLC Unsubscribe 427 N Tatnall St #84981 Wilmington, DE 19801 Powered by