Bitcoin has been range-bound around $22-24k for the past 1 week. This has made everyone excited and asking the question that always comes around after a little relief rally: is the bear market finally over?
I think many of you can already guess my sentiment around this. I dollar-cost average into BTC while spending 99% of my time focused on building the LeoVerse.
The daily movements of Bitcoin are impossible to predict. If you could predict them, you'd already be a billionaire.
That being said, there's a lot of value in being tapped into the market and aware of the macro scale of things while simultaneously having a smart, seasoned approach (like DCA).
In this clip, that's what we discuss!
- Bear market over when there's relief, but not really
- BTC broke above what most were expecting, we're above 18
- Pre FTX we were above 20k - after we break that we might be slowing out of bears
- Most people expect recession for 12-18 months
- Layoffs, no money around, no real yields, Twitter staff off
- Not expecting btc to go to 50k given the current global situation, but it could sit between 20-29k
- Sub 20k is oversold according to Khal
- Strategies are not short term, DCA every day, MakerDAO, pay bills and invest - same strat as in 2018
- Buying at these prices feels like buying at 5k in 2018
- FTX debacles don't affect those that invest smart and stay off exchanges
- Cat doesn't see how a bull market arrives, maybe rallies after the first semester. Loving a sideways year
- Sideways allows you to DCA
- When normies ask, Khal tells: If you have the money setup an automatic DCA purcrhase - if they want to get into alts, then the advice is to create content and the Leoverse
- Just do2earn platforms, stack BTC and in the bulls you'll be fine
- Khal's chunk of portfolio was made on earnings from steem/hive/leo
- Hive example of selling at $2 and rebuying below 40c
- Ability to think long term
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