The Last Mile

Once again the traditional markets have sniffed, because of the FUD regarding interest rate announcements coming from the FED and inflation worries, and Bitcoin "coughed accordingly". Undoubtedly, Bitcoin is still coupled with traditional markets and all the shit happening in the world.

According to the crypto gurus, it was supposed to go to well over $100,000 sometime in 2021 or 2022. It's almost a year since it peaked at $69,000 back in November 2021 and I don't o see it challenging that level any time soon. It's not going to happen.

However, according to Hive account@edicted and "to the more accurate aggregated data the bull market starts in 2 weeks. This resistance line is going to be utterly destroyed when it hits $20k." Well, two weeks is not such a long time, so let's watch and see whether Edicted is right on this one. I hope he is.

I won't blame Edicted for this one, but I bought more crypto today. I've got obsessed with EGLD for a few good months and I have acquired 12 more tokens just an hour ago amassing a total of 99.81 tokens. I got about 92 of them staked cuz I don't see no reason in leaving them liquid until like the end of 2023, but I do have some spare ones just in case it goes balistic "overnight".

Remember, remember the 1st of October ;).

Back to the bidness now. We often call institutions smart money, but are they really that smart? I don't know, but Alessio Rastani is pointing in this video at the fact that such entities might not be so smart when acting as a herd. If you watch that video you will see that currently, the so-called smart money is terrified, but that should not be bearish for us, but rather bullish when we take into account that when such entities are acting as herds they most often make bad choices.

I personally have no clue when the bear market in crypto will end and we might be indeed on the last mile before another uptrend for the market, thus making it worth profiting from the discounts we have for many coins listed out there. EGLD for example that I have been DCAing into since it was $84 is currently 91% down from its ATH.

It can go steeper than that, but there's no certainty about it. What if it doesn't? What if two months from now it will be way above $100?

BTC has corrected just 70% something from its previous ATH... I guess back in June/July when it dipped to as low as $17,500 it was at a 75% correction... Prophets like Willy Woo expect further pain in the market and Tone Vays is a subscriber to that, but as Edicted has pointed out in his latest post, and I have discussed this topic on Leofinance a couple of times as well, there's no point in comparing previous bear markets with the current one.

We didn't have any damn blow-off top for the previous bull cycles, then why the hell should we expect this one to be similar to the 2018-2020 bear market in any way? Fortunes are being made in crypto by positioning yourself on the right side of the market during the bear market. While for some it's such a pain, for smart investors it's a blessing.

Let's not forget that Hive account@empoderat has turned about $10,000 worth of crypto into $1,000,000 in the previous cycle. What did he do? Well, he simply bought when there was plenty of blood on the streets, and plebs were terrified to do so and sold during the mania phase when plebs got optimistic once again near the top. The last mile is the winning one.

Don't do as I do, though, don't throw your money on crypto just because I and Edicted feel like the bear market is close to an end... Hive account@chorock is also on our side by the way ;). We all might be wrong, but then again, a 90% discount on your favorite coin is definitely a buy imo. I don't know about you, but to me, it sure feels like we're on the last mile with this bear cycle.

The interest rates announcements coming from the FED are already predictable, wars are no longer "that scary" and inflation is a given... What the hell, then... Let the uptrend commence, we have to make some money somehow so we can beat inflation.

Thanks for your attention,
Adrian