LOL WTF Bitcoin by edicted

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bitcoin · @edicted ·
$6.83
LOL WTF Bitcoin
<center>![oct25.png](https://cdn.steemitimages.com/DQmc65BEEiGqqfBSdPK58bPVbTqfRuPE3rP9RxrHd2zbUo9/oct25.png)</center>

### I go to work for a five out shift and come back to this?  

# What's happened?  

![oct25-2.png](https://cdn.steemitimages.com/DQmSXUkGvCBNh8CGoGMXHcAMx1NaVmyPoU8XAFP3UAeQSVS/oct25-2.png)

### Hm, pretty much exactly what I said would happen.  As soon as resistance breaks it will spike up to 10k.  So weird being right. 

![oct25-3.png](https://cdn.steemitimages.com/DQmSsq9cYhbrbCkepF84TQUzenBcNAbXCs4CEqbF8QWVT2j/oct25-3.png)

This happened at the earliest possible time that I thought it would.  [October 25.](https://steemit.com/analysis/@edicted/nothing-left-in-bitcoin-s-way)  I'm taking this as a sign that November is going to be an amazing month.  I keep wondering if I should commit to not taking any gains in November and hope the correction is in December like it usually is.  For now just rolling with the punches. 

I thought the dip to $7500 was late and didn't really make a lot of sense.  It acted as the springboard to get us past resistance exactly one month after the Bakkt launch dump. 


-------------

#### It's the [Year of the Boar](https://steemit.com/chinese/@edicted/year-of-the-pig) and it's time for me to get damn lucky. 

---------------

This bump up is a small taste of what's to come.  We were at the absolute bottom right there at $7500, and there is an entire winter pump ahead of us.  I'm continue to predict that Bitcoin will breach all time highs this November.  I imagine such a thing would lead to a lot of FOMO during December for that big pump followed by correction. 


![oct25-4.png](https://cdn.steemitimages.com/DQmcMjTByEpspfiJ6WdYADWjwef7nCwLcugeBFiT5Lg9Ycy/oct25-4.png)

I was also impressed by the 3% Bitcoin dominance spike.  This means that a lot of the money got dumped directly into Bitcoin.  However, the trading bots go both ways, and it looks like that splash has landed on quite a few of the other networks. 


-----

### We should have known something like this was coming with Tether #4 on the market cap.  


------

If Bitcoin continues to gain dominance I'm going to assume that it's being used as a hedge against the impending global economic crisis.  I suppose the higher Bitcoin dominance gets the more I'll believe the legacy economy is about to implode.   I guess we'll see.    Ideally it would be nice to not have to deal with such a wildcard. 

# Conclusion
All around pretty weird day for me on multiple fronts.  

# I'm feeling lucky... are you?
πŸ‘  , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , and 100 others
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vote details (164)
@leo.voter · 
Thank you for posting from the https://steemleo.com interface 🦁
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@mightypanda ·
$0.04
tread carefully: today's rally was likely because of shorts covering position. Confidence was very low to whales had shorted bitcoin, but as soon as it moved couple of hundred on china move, shorts would have go covered automatically sending it higher.
πŸ‘  ,
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vote details (2)
@edicted · 
Eh there's really nothing to do at all for me.
I'm just going to hold all through november.
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@onealfa ·
$0.03
My cash out time ( just a bit) is set for SEPT 2020
πŸ‘  
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@onealfa ·
$0.03
> This bump up is a small taste of what's to come.

Exactly !

The old good FOMO is comin back. :)
πŸ‘  
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@builderofcastles ·
$0.03
Well, this is pretty much goodbye to quadruple digit bitcoin.
πŸ‘  
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@buggedout ·
$0.04
> I'm going to assume that it's being used as a hedge against the impending global economic crisis. 

I've wondered this too, but it looks like a bump from pro-blockchain comments of Chinese leadership.  That could be a significant change in fundamentals so hopefully it follows through with a solid rally.
πŸ‘  ,
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vote details (2)
@lordbutterfly ·
$0.04
Not really. Lol. 

Probably just a momentary move. I really dont see this doing much for alts like Steem. 
Steem moved something like 8% which is laughable. If it moved 50% that still wouldnt be much in the grand scheme of things. Nah... Im feeling patient, not lucky. 
Give it couple more years.
πŸ‘  
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@edicted · 
It is an extremely momentary move.   
ATH will be hit easily next month. 
We'll see what happens to alts then.
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@financialadvice · 
Quite exciting if you bought yesterday, or if you are buying sometime today that hasn't caught up yet.
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