That escalated quickly - MINI BEAR is it here to stay?
Red red red, this is all I am seeing this morning. I am in a daze as my wife asks me simple questions about what I plan to do today.
"What?" I mutter.
"I said Would you like a coffee".
"Yes dear, that would be wonderful" as I look back towards the screen.
I have some funds in litecoin that I use to push around, I should have sold more of them off yesterday, but you don't expect a 25% drawdown overnight.... until it comes.
I have done my best, to prepare for this, I remember 2017. The heart aches, the checking of the prices so many times per day. This time will be different I said.
First, I started the cashout pipeline long ago. More than a year ago I bought a car. And over the last year I have made deals to buy 3 pieces of land. And don't forget the wonderful bathroom that we are building.
So I have specific goals other than 'number go up'. I have been learning to take profits for years. It doesn't hurt so much when you have a plan and you've been expecting it.
But psychology still sets in.
I did sell some this morning. Just in case, I need that pipeline to stay full a little while longer. But we are close to the end in any case, no matter what happens, its all going to be okay.
I never committed more than a portion of my portfolio. I have worked to control my greed in this way. HP (staking HIVE) helps a lot, as I can have this committed to other things and not available for speculating or routing - neither fomo nor fud.
ZeroHedge shows the 50k stoploss being liquidated:
It also shows how some people are reacting to this, such as El Salvador's president Nayib Bukele. I guess I have never seen a head of state trading on the open market as part of financial and foreign policy. But this is the modern age:
In fact, I think very little of the trappings of 'president' in the old victorian world, I think a president should probably talk to the people about what really matters. And for Bukele at least, that is Bitcoin.
I don't think we are through the cycle yet. There's more to come, we just don't know how it will look. And even if we head into a bear from here, we didn't have a blow off top, which means the bear cannot be as deep as it would otherwise have been.
I am happy to have used rational position sizing in my portfolio, having started to move into stable coins way before I thought I saw the top, because honestly I haven't seen the top yet, even though several contenders have emerged.
Keep learning, keep growing, keep building -
View or trade
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.I am glad HIVE dropped in value too but I need to save some to be able to buy and power it up
Somehow I expected that you actually have a bear 🐻 puppy now.
Agreed. No matter how much you prepare 25% drop while sleeping....
nothing you can do about that one.
I also have way too much LTC right now.
Take care enjoy the day, numbers will go up.
Blitecoin! Number go up!
@ecosaint
Yeah, we all have to remember that nothing fundamentally changed between two days ago and today. In fact, we're actually just two days further along in the developments that are coming. Two days closer to Chaos Legion packs, two days closer to 3Spk airdrop, two days closer to all of the other projects coming on Hive and Leo and Cub.
Fortunately or unfortunately, I'm still looking out 5 years on my crypto so I don't take much in the way of profits since, right now, for me its not how much, it's how many. I'd love to be able to time these things but...I just keep stacking come hell or high water. It sucks to see the red but, in the end, it just means my fiat coming in buys more.
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This is so true.
I also have a 5 year (more like 4 year 11 month) plan.
So I just keep stacking also
!LUV
@simplegame(1/3) gave you | wallet | market | tools | connect | <><
It's hard to take profits when you're a greedy dwarf like me.
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Keeping a calm mind and good portfolio sizing is great. You aren't going to be mad if the market goes up because you hold some and you aren't going to be sad if the market goes down because you have cash on hand.
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This is what I have been doing,trying to keep some balance
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I guess this is a reason why we should keep some Stable coins just in case such drop occurs to buy the dip.
Damn I wish I was a whale like El Salvador Presidente.
Keep growing you could be there one day!
https://twitter.com/EcoInstant/status/1467194073987665928
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Converting some profit and putting it to stable coin like hbd is not a bad idea because market is always changing.
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last night was pain, pain, pain, ending in max pain. This is what happened in May it was totally to be expected.