Bitcoin’s Plunge: Is $38K Next? 😱

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It has come to pass, as it always does with these modern… peculiarities of man, that the price of this digital “Bitcoin” – a thing which exists only as numbers in a ledger, mind you – has descended below a line drawn upon a chart. A profoundly unsettling event, according to one Tony Severino, who, I suspect, spends far too much time staring at such diagrams. 🧐

This “50-week Moving Average,” a phrase which sounds suspiciously like something invented by charlatans to impress the gullible, has, it appears, been breached. A breach! As though Bitcoin were a fortress, and the market a besieging army. The consequence, Severino intones with the gravity of a prophet of doom, is that a decline to $38,000 is no longer merely a possibility, but a shadow looming over the proceedings. One wonders if Mr. Severino sells shovels.

He notes, and with some emphasis, that whenever this “Bitcoin” ventures below this mystical line, a prolonged… what did he call it?… “bear market” inevitably follows. It is as though the very laws of finance themselves bend to the will of a line on a graph! A most curious notion. In the past, after such transgressions, Bitcoin has lost, on average, 62% of its value. Sixty-two percent! A sum large enough to make even a comfortably situated landowner weep. Applying this dreadful percentage to the current inflated price, we arrive-rather predictably, I might add-at $38,000. It appears a number chosen not by divine inspiration, but by simple calculation.

Severino cautions the optimistic traders-those ever-hopeful souls who believe the price will somehow defy all logic-against ignoring historical precedent. He reminds us, with a touch of weary resignation, that this “50-week MA” line has, time and again, served as a demarcation between prosperity and ruin. Indeed, to cross it is to invite weakness and capitulation. One almost feels pity for those who choose to disregard such wisdom. 😏

Further adding to the gloom – as if more gloom were needed – another analysis, also by Severino, concerns something called the “LMACD.” A name that brings to mind neither good things nor sound investments. This indicator, it seems, is at a level unseen for over 1,250 days, a period of time long enough for several generations of speculators to rise and fall. It suggests, and I quote, a “momentum reset.” Resetting, of course, being a euphemism for a swift and painful correction.

The price, we are informed, currently hovers below $87,000, amidst “volatile, choppy conditions.” A most evocative description! And, to add insult to injury, it has declined by 24% in the past month. A decline, I would note, that could have been avoided had one simply invested in land, or perhaps a good horse. 🐴 But alas, we live in an age of digital illusions, and the lesson, it seems, is one we are destined to relearn repeatedly. And, really, what else is new?

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2025-11-27 03:24