Think I'm kidding? You really think a machine as lucrative as wall street which has turned generating dollars into a science would ever remain on the sidelines?
How exactly did you think the "institutional money" that we've all delcared was waiting, would enter the game? At the ATH's WEEEEEE created?
Media assaulted your profits. Article after article touting the end of the world. Blockchain techies kept saying, "HODL."
You didn't listen.
'India is banning cryptocurrencies.' was the written rumor, and it spread like wildfire around the globe.
The truth - that the finance minister's words were exaggerated, didn't even reach your twitter feed. Did you ask yourself "why?"
Then came this diddy: 'China is banning cryptocurrencies.'
Are they? Tell you what, when NEO announces it's closing its doors forever, I'll believe China is banning crypto. Did NEO close its doors?
A tsunami of FUD flooded our social media at the same exact time Bitcoin drops like a hot potato, just like it has done every year at the same exact time. This campaign really wasn't difficult for Wall Street Whales to plan.
A symphony of FUD composed for your very eyes, timed perfectly to lead up to the SEC's meeting yesterday.
And what came out of the meeting? Why gee, look at that, the US isn't banning crypto. But it will be regulated (which is wonderful).
But wait... then.. right after the meeting ends Mark Warner, the US senator from VA, gets his lackeys in the media to print an article where he states there's no way to ban crypto because the underlining blockchain technology is too revolutionary.
He stated that he sees blockchain more transformational than cellphones. In fact, he even threw out numbers. And I paraphrase, 'what seems like a few hundred billion in market cap right now, could easily be $20 Trillion by 2020.'
You think it's a coincidence this article came out after the SEC meeting?
You think it's a coincidence that after those two snippets yesterday I get an email in my box today saying Coinbase is now accepting direct and immediate purchases with my bank account? This, on top of credit cards announcing you can't buy crypto anymore on their credit?
Now they step in, and scoop up all the profits you lost, which gives them the power they didn't have. And why? Because wall street sharks sharpen their teeth on rookies. That's why.
Will the market drop again? Yep. Might it crash? If BTC crashed every year in January for the last 4 years, I'm going to say yes.
However, will it be because the underlying technology is so weak and bad that the cryptoassets linked to these blockchains are valueless? Nope.
It will be because suckers are born every minute. And weak hands lose to experience every time. Now stop giving them the freebies.
And don't use this as trading advice. It isn't. Plan. Strategize. Play smart. Their patterns are unbelievably obvious if you stop screaming "lambo" and dive into the work of research... your OWN research... not some journalist who may or may not be taking an extra $500 to write a well-placed, slanted article meant to instill a FUD nugget.
Yep.... you little freakin' FUD nugget. You got Played. Schooled. Housed. Owned.
Rage against the machine. That's partly what decentralization is all about.
I'm done.