Friday Market Musings | Week 39 | 2023

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Holy shit. A great week here in the Netherlands. Temperatures I never thought possible, and yes...I know @trumpman. In fact, this is not good news at all because it does imply accelerated global warming. I know, a lot of food production has not gone well at all for this reason. And yes, food will certainly become extremely expensive, but hey... I can worry about that, it won't change anything. So better for me to enjoy the fact that we still have 25 degrees at this time of year. Soon I will still be cold enough because I have to choose between heating or food ... that is, if we are not turned upside down by Russia before then, now that Medvedev has reported that he is ready for a direct confrontation with NATO, that is also the case. possible. Was this negative enough? LOL.

Then we can now move on to the order of the day. Crypto! And what can be said about crypto this week? We saw another nice dip this week, so for everyone who likes to shout "Buy the dip" there was another great opportunity. At least if you still have something to bet, AND enough confidence that the price will not go much lower. Well, for anyone who practices dollar cost averaging, the purchase price does not matter much and this dip, if it came at the right time, would be a great opportunity anyway. So let's look at the positive side. Bitcoin is now climbing out of its trough, but it is not yet clear to me whether this can be called bullish. But hey, let that not be a surprise... because once again I have been online very little, and this week I haven't even looked at crypto much. I haven't even followed the news every day, which is new because I normally always do that.

Is there a reason for this? No, there are several reasons. The bear market has been going on for so long now, but on top of that the costs of living in the real world have risen so explosively that I'm more concerned about it. And that requires more and more of my time and attention to keep us going and to deal creatively with the budget we have to provide for our livelihood. Since this also means that I have had to sell a number of assets, and there is certainly no room to invest at the moment, my interest in being on top of things every day has also decreased considerably.

In addition, due to the high costs, there is no opportunity for fun trips, which also means that I have less inspiration for blogging. I think that is the complete picture at the moment, which means I spend much less time online. Does it matter? No, it makes no difference at all for the crypto market. The only thing is that it is a little less easy for me to muse about the crypto market. LOL.

I wish!

So what are we going to talk about today? I wish I could tell you an interesting story about how the crypto market is doing, and what you can expect in the near future. If I could do that, it would mean that I would have insight into it myself, and I'll start right away with the disappointing words, I don't know! I wish I knew!

What I do know, however, is that in my opinion the economy is not really making great leaps forward anywhere in the world, that inflation can still be seen everywhere in the world, and especially felt in the wallets of the population. And my modest expectation is that things will not get much better in the near future. So don't be surprised if this will also have an impact on the crypto markets. In my humble opinion, a rapid upward pressure is not at all expected at the moment, but as is always the case, I could very well be wrong here. And let's all hope for that. While I was typing this, I suddenly got the idea to submit my question to Bing Chat. The answer would seriously give me almost hope for the near future.

The question I asked, "Is a bull run expected in the crypto markets soon?"


The answer was that although the crypto market has not been able to perform very impressively lately, investors are expecting a new crypto bull run soon. I was then directed to this article.

Then Bing Chat told me that the expected bull run also has to do with Grayscale's Bitcoin ETF application, and of course the expected halving of Bitcoin in April is mentioned. Furthermore, there are several factors that could potentially be very bullish for the Bitcoin price and mark the start of a new Bitcoin bull run. What these factors are is left unclear, but it is emphasized that technical Indicators seem to point to a Bitcoin recovery.

So when you're reading this, you will understand why I would ALMOST get hopeful. Technical indicators have so often proven worthless in recent months or should we say, completely misinterpreted? Not to mention that I would like to know the various factors that could possibly be very bullish for Bitcoin. And I'm afraid that those factors could undoubtedly go both ways, as always. Because you know, there are no guarantees in crypto. However, there is one thing that is not mentioned by the AI, (and then you see that you always have to think for yourself), which I do believe COULD be bullish for Bitcoin, and that is the potential US government shutdown. The following article shows what that could mean for Bitcoin**.

As I mentioned before, guarantees are not issued in crypto. The risk is and remains yours, but saying that it is boring is virtually impossible. And that I am leaving you for this week. I'm going to get back to what I have to do in real life, keep my head above water, and like everyone else I hope for better times. We'll see in the near future.

Stay safe, See you again soon!



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Bang, I did it again... I just rehived your post!
Week 175 of my contest just started...you can now check the winners of the previous week!
!PIZZA
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I'm waiting for a bigger dip than the one we saw. I am hoping for something in the range of sub $10K before I do a big buy. I still have a DCA that I do every month. I'm not sure if we are close to the bull yet or not. Like you said, everyone is just guessing. I'm not going to complain either way!

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To be honest, I really hope we're done with the dips. A steady sideways action from here is very much appreciated, at least by me. But I really don't know what is going to happen. The only thing I know is that I can barely hold my head up in real life and that I need to supplement that from time to time with crypto. For that alone, I would appreciate it very much if it would go sideways and slowly up from here. I've seen enough downward action ... I've had it with that.

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Yeah, I guess that is a good point. We are clearly in very different positions, so I can't really relate. I understand what you are saying though.

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Yup, very different positions. And I'm happy for you that you can't relate, it wouldn't be fun for you either if you could.

However, I also believe that for the sake of crypto adoption, it would be better if crypto would go sideways and up from here. This bear market has lasted much longer than anyone would've expected it to do, and since Satoshi designed Bitcoin for exactly this situation, it will kind of need to prove itself now.

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