65K Bitcoin Apocalypse?! 😱

A Most Curious Revelation:

The esteemed analyst, a certain James Check, whispers of a “true market mean” of $65,000. Should the bitcoin tumble to such depths, even the venerable long-term holders may find themselves in a most disagreeable predicament, swimming in the murky waters of unrealized losses. Oh, the horror! 🎭
A trillion-dollar market cap, you see—approximately $50,000 per bitcoin—should, in theory, provide a sturdy foundation of support. One can only hope, of course. 🙏

But where, pray tell, is the bottom for this bitcoin (BTC) contraption? A question that plagues the minds of both the gullible and the greedy.

While admitting the possibility that the bottom may have already been… well, bottomed, the aforementioned on-chain analyst, James Check (bless his cotton socks), suggests that a *true* bottom shall remain elusive until the bitcoin undergoes a *true* capitulation. Such drama! 🎬

This, according to Check, would necessitate a descent into the $65,000 abyss. He calls this the “true market mean,” which is, in layman’s terms, the average cost basis for those brave (or foolish) enough to actively dabble in this digital tomfoolery. 🤡

At this fateful juncture, as Check pontificates on the TFTC podcast (a place where fortunes are made and lost, presumably), the average investor will finally begin to feel the sting of unrealized losses. Even those who’ve clung to their bitcoins for a staggering five years might find themselves submerged. Interestingly, this price point aligns remarkably with the strategy of one Michael Saylor, whose cost basis hovers around a similar $67,500. Coincidence? I think not! 🧐

And what, you may ask, becomes of the market after this so-called capitulation?

While Check anticipates considerable declines from the $65,000 precipice, he also foresees sturdy support in the $49,000-$50,000 territory. These figures, you see, represent both the launch of those ETFs in the year 2024 and that magical trillion-dollar market cap for bitcoin. A drop to a paltry $40,000? Unlikely, he declares, unless a global recession rears its ugly head. 🐻

Check also deigned to comment on the extended period of “chopsolidation” in the year 2024—where the bitcoin danced and pranced between $50,000 and $70,000 for what seemed like an eternity—establishing, as he put it, a robust foundation of support. A foundation built on sand, perhaps? Only time, and the whims of the market, will tell. ⏳

2025-04-16 17:49

A Most Curious Revelation:

And what, you may ask, becomes of the market after this so-called capitulation?

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