Is there any bank in your country set on fire lately by angry customers/citizens who can't cash out their own funds from that particular bank? Only if you're living in Lebanon... And probably Nigeria will follow suit as the damn e-Naira(CBDC) is forced on the Nigerians against their will of using it.
Recently a bank in Lebanon was set on fire by customers unable to take their money out amid +170% inflation in 2022. Bitcoin is hope, right ;)? Right?!
Well, I'd say crypto as a whole is hope for many of us around the world, and not just Bitcoin, but maxis are always trying to make us believe that "there's no second best"... Why the comparison, sir?
Anyway, whether you like Bitcoin or not and whether you are a Bitcoin maxi or an altcoin maxi you must have noticed that BTC is having quite a tribal dance around the $25k level today. According to some analysis I stumbled upon on twitter it seems that over 200 million in shorts got liquidated with this move.
Plebs never learn... Plebs, and not only, were waiting for BTC to dive as low as $10k, a few months ago when it was having its bloody tribal dance at around $16,000... Well, I guess we can say right now that $10k is not going to happen. Probably $20k either...
However, folks like myself and even more renowned crypto heads from Twitter didn't get much attention when we said $10k is not going to happen... Individuals like CryptoCapo who has 700,000 followers on Twitter were claiming that $10K BTC is doomed to happen. Well, I guess he was wrong and I guess some of his followers are probably hating him right now for falling for his crap.
I sure know I would feel like that if I were a Capo follower who fell for his shit. Personally, I haven't bought the exact bottom in the past bear market, but I'd say my DCA has been pretty decent... I don't do TA, but I respect TA guys, I have some of my favorites here on Hive, but my investments in crypto are based mostly on my gut feeling and the little research that I do once in a while.
Some analysts are claiming that BTC has an inverse correlation with DXY, some are following CXY in this regard while others are patiently waiting for CPI and what the FED has to say in order to place their bets on Bitcoin/crypto. I follow the halvings... It took me almost five years to learn such a simple thing.
Halvings determine the four years cycles and the pattern that Bitcoin so far has followed is three years of consecutive green yearly candles followed by a red one, rinse and repeat. That simple. You buy two years prior to halving and sell one after the event...
Well, guess what? 2022 was a red one, so what do you expect 2023, 2024, and 2025 to be?
The question some of the people who hesitated to buy Bitcoin or altcoins when this one was ranging between $16k and $17k should ask themselves is: if BTC goes to $100k+ in about one-two years from now does it matter if you bought at $16k, $20k or $30k? Nope, cuz you're gonna be in profit anyway. Do you know when these fools(some of them still consider this a bull trap) are going to buy Bitcoin once again?
At $70k+. That's going to be their confirmation level and they're gonna once again miss a massive bull run and a lot of juicy red meat in between the ultimate bottom and the ultimate top that they keep on failing from catching. I have so far blown away two insane bull markets by following the advices and strategies of all sorts of individuals on the internet.
It's not going to happen again. The majority is gonna be on the wrong side of the market once again, for sure. Same shit every time, and somehow they're always expecting it to be different and that's why they'll fail, that's why I failed for the past five years or so. Anyway... This was my Leofinance post of today. Over and out.
Thanks for your attention,
Adrian