Bitcoin's price ascent at times has been a rocket on a sled. At times, it's been plateauing. By that I mean increasing fast, then leveling and pausing, before rising fast again. It climbs the mountain, and just like a person, it then pauses to rest for a while, to regain strength before continuing on.
I wrote this on Dec. 4, 2020: https://d.buzz/#/@crrdlx/c/ia64iyd9wzqes90wdhkrjw
The market had been lingering just under $19K for some time. It was as though Bitcoin/people were scared to jump over the $20K line. Recall how that same thing occurred at $10K? How BTC hopped above $10K, then below, then above, and below. Then it finally said, "Forget this," and it just shot up to 19K.
Back at Dec. 4, I just started to "get that feeling" and I think others did as well. There's only so long you can dawdle, afraid to go on up, when everyone knows that it will. After crossing 20K, it pretty much ran right on up to where it is now.
I'm starting to get that feeling again. BTC has been loitering just under $60. Once the world decides, "Let's just do this," my guess is that $100 is the next psychological dawdle-plateau.
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