H.T.L
"One year ago today, Bitcoin reached an all-time high of $69,044" and it is now bearly holding $16,000, and by the strength the crypto market is showing right now, I see it highly possible that we will see a $12,000-$14,000 BTC relatively soon.
BTC has already dipped as low as $15,500 today, thus touching $12,000 which was called a potential bottom by some of you around here, myself excluded, for a long time now, is just a stretch away. What's a $3,000 wick down for BTC at this level?
...
Well, what was a $3,000 wick-up for BTC back in 2021? It was proof of euphoria, greed, and a bull market vibe. Now all of these are gone and we're in the middle of a bear market. I thought we were out, but we're not. I was wrong. What can I do now?
At least I didn't have funds on FTX like BlackRock, Ontario Pension Fund, Sequoia, Paradigm, Tiger Global, SoftBank, Circle, Ribbit, Alan Howard, Multicoin, VanEck, Temasek, and others(cough Galaxy Digital). Man, Mike Novogratz really got rekt in the past half a year or so.
He screwed it hard with LUNA and now with FTX. You see, even these filthy bastards who are playing with millions and billions in AUM are sometimes hitting a dead nail. It's not the end of the world, though. On the contrary, whoever has the funds to buy crypto right now, is able to scoop some cheap coins thanks to the FTX saga.
Who's paying the FTX victims now?
Well,
Look, all I’m saying is…
If SBF doesn’t go to jail…
He is clearly a deep-state, Democrat operative sent to destroy the crypto industry, make the masses poorer and more reliant on the government all while setting the stage for central bank digital currencies / regulation.
This man, @DiscountGosling on twitter is right. The man who called Bitcoin inefficient and environmentally unfriendly, Sam Bankman "Fried" himself should pay. The people who lost money in this shit are guilty for their ignorance and greed as well, but this fucker has to pay too.
But, if he's really the man of the establishment he won't be paying shit. It's always the plebes that are doing that. So, what do we got to do? H.T.L...
Hold the lines. I guess this is not your first bear market, dear reader, and it probably won't the last one either, I know you feel like shit right now, especially if you're living off crypto like myself and don't have more cash to put in the game, but it's all gonna pass.
It's part of the routine, one that's been around for years now. It doesn't matter the conflict/event that causes illusions to break, the idea is that cycles have their own math and cyclicity. BTC had to correct close to 80% of its ATH and that's what it did. Time to move on now.
I don't want to make any statements anymore regarding the market, but what if this was the bottom? What if this was the needed final shakeout for the market to mark the absolute bottom? I can't answer any of those questions, but let's not forget, Bitcoin died a thousand deaths and it is still alive.
Does it look dead enough for you right now?
Thanks for your attention,
Adrian
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Thanks for the encouragement, I told myself don't speculate, just have fun and come back and see things back to normal, but the world out there is not normal, there are a lot of shit things that has happened to so many countries and the war that keeps pushing along with other stuff. if I ask myself where to turn to? for better money opportunities I don't see another place, so if this ship is going down, I am going down with it.
Pretty much the same here.
The good news is this is the type of drop that brings back the next bull.
Like a wild fire, the cleansing is much needed.
Discipline goes both ways, discipline to DCA or add more when your price target is hit (even when you bought too early)
Discipline to take “early profit” on the way up when your price target is hit. So you have the ammo for the next bear market. Especially when everyone wants to give you crypto advice, YouTubers calling it the only way to go is up.
It’s like the old saying, get out of the market when a taxi driver is giving you stock tips.
Buy when no one will.
Very well said.
https://twitter.com/3018665008/status/1590725857244762114
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This is a perfect time to buy some cheap crypto but I will go for hive because that's where my money is and trust. Bitcoin will survive this bear
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Not to be a bear but I think there’s still some steam left to blow off. Hopefully I’m wrong.
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This is extremely unsound logic.
Not that Bitcoin can crash, but that it gets easier to crash the lower it goes.
$3000 at $60k is 5%; normal day to day volatility.
$12k is a 30% dip from here.
Possible but very unlikely without another cataclysmic event.
We need to wait for the dust to settle on this one.
Two weeks. Refactor then.
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I know, I just read your post... ;). Answer my question: do the crystal girls have a Twitter? I wanna follow them. Enough with crypto gurus, it's time I should fall for some astrology.
I don't post my source because it's too embarrassing.
She's not hard to find.
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My neuron got divided after the FTX saga :))