For the past three days we have seen what we did not expect for the rest of the year. The writing on the wall projects one Bitcoin to $160k. It seems nonchalant to even think this is possible. Watching YouTube does not help in that aspect. Actually we are heading backwards with its value. I guess we were going to fast and completely forget when everything changes in January the greatness will be coming very soon.
I guess we are learning and continue to comprehend we buy , we sell, we control the value as a whole. It is tough to be available 24/7. SO far you can't complain knowing crypto has to be real to sustain all the fracas coming its way. The old saying never gets old to implement. They all sound like excuses to put behind what is really happening. I read the other day the shutdown caused a gap of $25 billion of liquidity.
Crypto moves on liquidity, lack of it, is chaos on the blockchain. With all that is going around in the world, I would say it is too demanding for crypto to go up today and up tomorrow. When you add everything together, $BTC is down due to boring mentality. Investors became more cautious, liquidity is tightening and the risk effect associated with crypto is slowing down. It is a competition out there for gains. Sometimes crypto may not deliver it on time causing the market to react.
$100k barrier
Just for the sake of look one hundred thousand for one Bitcoin is astonishing. It puts crypto in a echelon where it is okay to throw 5% allocation to #BTC. At the same token one who had btc a while back is tempting to unload. This is the scenario happening all over last month and November. So far the market understands and recuperates. The selling pressure can hold for so long. It affect the liquidity where they are more sellers than buyers.
If one whale had 10k/BTC it would not mind to offload 25% at any close targeted price. it is a move made in heaven. In the same sphere, there is more BTC available in the market. I started to understand this relationship will last forever where there will always be bitcoin available to trade unless the price moves so high, the game is up to another level. So it is fair game till then.
The #ETF has its blessing. The same moment the price moves positive, it may react the other way the minute the news does go off ramp. It shadows the narrative where crypto is a digital safe-haven. I do belief this wording will stick very soon. It is just a momentum waiting to happen. There will always be 21 million available. Inflation is heading one way with debt scaring future generation. This recipe takes time to converge but it will protect the #hodlers the minute the narration changes space.
This year is cooked. Crypto needs this situation for us to calibrate. This is how you know where you stand. Hiccups happen for a reason. New money always finds wall to accumulate. It is not too far to reach 100k again. As always it will be an adventure to watch what make it stick. While November is a carry over from October, I don't put all my eggs in December. It is worth watching and pay attention with the world affair. Keep in mind, crypto guides the world since it runs 24/7. Soon it will lead the hodlers to the insatiable liquidity in the blockchain.