This is the best time for crypto critics to laugh at bitcoin whales especially people like Michael saylor and nayib bukele. Nayib Bukele is a big time laughing stock to these critics because he literally made bitcoin a legal tender in his country. People that started using bitcoin as a legal tender in El Salvador, should be down more than 30%, how do you think their citizens would be feeling. Before the implementation of bitcoin as legal tender in El Salvador, some citizens disapproved and protested, because they never wanted bitcoin. I guess this is the right time for them to rant. Nayib Bukele just bought the dip, he bought 80 Bitcoin recently.
People laughed at Michael Saylor for buying the recent dip, they said its a sign that he is losing confidence in bitcoin because the purchase was low. well he pretty much went so hard initially, nobody expected the bitcoin price to tank this hard. Except the bitcoin critics who are constantly wishing for bitcoin downfall. People like the warren buffet, bill gate and more.
Fear In The Crypto Land
The fear measurement is pretty high right now, people are scared, they are in this state of intense Fear Uncertainty & Doubt. Would you blame them? This is crypto, anything can happen, that’s why its getting much harder to buy the dip. The concept of buying the dip is that, when you start at the beginning, its exciting, when the dip goes lower it becomes a little scary, but you know buying the dip is getting it at a cheaper rate, so you buy hoping the dip ends. But the dip doesn’t end there, so it gets more scary, the rate you buy starts reducing because you went really hard the first few times. That is what Michael Saylor and Nayib Bukele are probably doing.
Every aspect of crypto is feeling the heat, including the NFT community, so the land is filled with reds. Just the other day bitcoin showed us some hopeful greens where it crossed the above 20k zone, but came back sliding below 20k really hard. This is now making the people buying the crypto dip looking unwise in the eyes of the critics.
The crypto market have survived lots of bear run, people felt that the people who bought the dip those times were unwise, but its 2022 and they are up big time. 2014/2015 bitcoin crashed to $200, 2018/2019, bitcoin crashed to $3,000, today bitcoin crashed to $19k. If you are not seeing growth and progress, then I don’t know what to tell you. Even the next bear run will have bitcoin crashing to $100k and people will still panic and say bitcoin is dead.
In my opinion if you are buying the dip, don’t invest more than you can afford to lose, buy the dip but be wise. Don’t take this for a financial advise please.