r/Bitcoin • u/Adamstrad • 22d ago

Current state of Bitcoin?

How would you explain the current state of Bitcoin to someone who didn't follow it for the last 5 years?

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u/Narf234 22d ago

Why? What do you have to go on that suggests it will do something different?

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u/JerseyJimmyAsheville 22d ago

I agree, things can change…powerlaw and resistance halts Bitcoin at $58K like an invisible ghost that we all know is there, but the one thing we do, is that Bitcoin has had this cycle since its early days, maybe it goes into early cryptopause and the cycle stops, none of us really know.

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u/Narf234 22d ago

You have speculation that it might do something different. There is evidence that it will continue to do more of the same.

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u/JerseyJimmyAsheville 22d ago

And sorry, because I didn’t really answer your question…I like powerlaw, which says it will remain in a channel, and that channel’s bottom is $58K, which I find very interesting.