Last October 6, Bitcoin was at 12.6w.
Today marks exactly one year.
Now it’s at 8.56w.
A year has passed, and it’s still 32% short of getting back to that level. It would need to rise nearly 50% to get there.
Things have looked pretty lively over the National Day holiday. On Sunday night, one candle shot it up to 8.69w—just 500 points shy of an eight-month high—and the group chat was full of people shouting, “The bull market is here!”
But that was only an eight-month high, not last year’s high.
People who bought above 12w this past year are still halfway up the mountain, waiting to break even.
I’m not saying I’m bearish.
I’m saying you need to be clear about where you are. This move is a rebound climbing up from the bottom, not a new-high rally. Those are completely different things.
In a rebound, take profits when you can, and lock them in when it’s time. #BTC $BTC
Today marks exactly one year.
Now it’s at 8.56w.
A year has passed, and it’s still 32% short of getting back to that level. It would need to rise nearly 50% to get there.
Things have looked pretty lively over the National Day holiday. On Sunday night, one candle shot it up to 8.69w—just 500 points shy of an eight-month high—and the group chat was full of people shouting, “The bull market is here!”
But that was only an eight-month high, not last year’s high.
People who bought above 12w this past year are still halfway up the mountain, waiting to break even.
I’m not saying I’m bearish.
I’m saying you need to be clear about where you are. This move is a rebound climbing up from the bottom, not a new-high rally. Those are completely different things.
In a rebound, take profits when you can, and lock them in when it’s time. #BTC $BTC