Buy or Cry?
The Bitcoin charts are looking pretty bad, aren't they?
I mean, look at this shit, just a few hours earlier it was at near an all time high, and now, it is scraping the bottom of the barrel at its lowest price since the middle of March... Damn Bitcoin, after a month of upward momentum, can't you get your shit together and keep the good times rolling?
Looking at the weekly chart though...
Oh.
Not too bad after all. Besides passing it in February on the way to an All Time High, the last time we were at this price, was at the end of 2021. So, while some people are a bit gloomy it really isn't too bad. And, while there might be that seed of doubt that
this is the end, Bitcoin is dead, long live fiat!
I think we are just getting ready for the first of a couple big runs.
Perhaps we are around this point in the cycle. I am also making the assumption that there won't be quite as much volatility in a short time, so there will be more spread between peaks. But overall, not too worried about where we are at the moment in terms of price.
If the markets are going to be stretched out further now there is more volume coming in from traditional money markets, the highs won't be "significant" until around the end of the year, or 2025. Significant is relative of course, as depending on where you bought, it is significant now.
A few more weeks of pain, then some pleasure?
I suspect so, but it is hard to tell, because these kinds of selloffs are not coming from week hands, they are calculated manipulations and of course, that goes both ways. The price can drive up almost as quickly as it can tumble down. But we tend to forget this.
There are studies that say "loss is felt twice as heavy as gain", which means that losing ten hurts as much as gaining twenty, but I call bullshit on that these days. I think loss has become overemphasized now, which might be down to building a culture of entitlement and victimhood. But I also think this gets coupled with social hype, and then the consumer-driven, instant gratification mindset on top.
We aren't built to lose.
We aren't built to feel pain, as we have been able to build strategies to avoid it, by immersing ourselves into a disreality of content that doesn't really matter. And then, when we do come out of the bubble, things that matter to us like the numbers going up or down, matter even more. We are hypersensitive, and our emotional reaction to the downs is amplified.
Disreality isn't a "proper" word.
But, fantasy doesn't quite fit anymore.
Anyway, it doesn't really matter if I care or not about what the markets are doing right now, because they will do what they do independently of my feelings anyway. But, how about you guys, how are you liking the red - is it a buy opportunity?
Or a cry opportunity?
Taraz
[ Gen1: Hive ]
Posted Using InLeo Alpha
It might be resistant, nobody can say anything unless it shows some positivity in chart 📈
Cool
I didn't expect that the Iranian attack would affect cryptos this much. Let's hope the tension stop here.
This slide started hours before I heard anything about the supposed attack. So far, the only info I can find is that US and Israeli officials (both liars) said that Iranians said they have launched drones. Do you have any clearer, more reliable info?
OK this might be something
Things are about to get exciting.
I actually enjoy all of this and see it as part of the ride which we all know will be super dooper fantastic hopefully.
It’s a buy opportunity for me for sure! I tried catching the knife and thankfully this time I did sell a little bit at the high and catching it down at the lower area is a nice feeling. Trying not to blow all of the meager funds I made off it (like 50, spent 150 and sold for 200, not bad lol) but when things go on discount I like to get some more!
The true test is if things go down further than now and get into the 50’s and all the paper hands and new people to bitcoin start crying lol
Also, halving on deck in about a week so some volatility to be expected.
I think this is expected. We are close to the Halving and people get fearful and uncertain of BTC's future after the halving. Some might even have locked in some of their profits. This is common in stocks when it is leading up to a big announcement or change. But this being crypto, the impact and movement is more pronounced. I think those bullish in BTC are going to buy more.
I don't know if this is a sell off before the halving or if this is because of the recent attacks in Israel. I am not surprised though. We aren't at the point yet where I would expect it to keep going up. A correction this deep was expected from what I read.
I am not doing much right now and the halving will still be happening soon. I don't really expect much of a pump until that happens at least and I agree that people need to zoom out a bit. It's still higher than what it was a few months ago.
Did your colleague's sister already respond what art page they are using to sell their works?
I revamped my investments a bit, added two new picks, and am already up by a decent percentage. Such dips are only fun if you have stablecoins left to buy the dip, or else it's sometimes painful. 😂
Fortunately, I had some USDT left to deploy, but I wish I had kept my usual 10% of stables ready. This time I wasn't prepared. Some altcoins are even back to the entry price and all-time lows. I for sure wasn't expecting to see something like this. A decent % of "dump-en-ing"? Yes, that will always be present in this realm, but back to entry prices and ATLs? That was a surprise.
Who knows what'll happen if BTC goes below 60k or around 50k? 📉
Well, I’m surprised by what’s happening with the price because I expected a pump since we are close to the halving. Let’s see how it goes though
Haha the crypto space is so full of buzz today! Lots of banter, and lots of "experts" giving advice... As for me, I thought a lot and in the end, I did nothing. Continue to hodl, but didn't add more. The "dip" just didn't feel compelling enough for me to dial up my exposure haha!