The Third Debate Finds No Catalyst

Sharp moves in the pound and dollar had revived the community’s arguments about market direction. At the third debate, the Night Watchman found people more willing than before to lay out their reasoning, although they still hoped the numbers would yield a definite answer.

BTC failed to rebound to 20,000. At the third debate, participants finished working through their figures and still said the market lacked a catalyst. Some wanted to keep betting on a rebound; others preferred to wait for a clearer next step. The Night Watchman asked what, exactly, would count as that catalyst, but the group could not agree on a condition.

Working through the figures made the disagreement clearer without making a rebound predictable. The Night Watchman decided to preserve the different views and their reasons in his weekly note instead of presenting “waiting for a catalyst” as a conclusion. The next discussion would need to define its criteria first.