For weeks we have had warnings in price action that Bitcoin was entering a bearish phase. Articles, charts, and opinions that offer CONFIRMATION BIAS that the bull trend is just "having a dip" rise to the top because people read and share what they want to hear. I am not trying to prevent people from becoming crypto millionaires. I am trying to warn people against drawdowns, get them to reject the confirmation bias, and trade wisely!
Why is this happening? I've been talking for the last month about interest rate fears as the evidence was in the daily price action. NOW the financial media this week has picked it up as a talking point.
We'll talk more about this during today's Livestream, every Friday at 4pm Eastern.
I am so mad i DCA'd into the early 2021 to june-july. I have bought from 40k to 50k and i was regurgitating maximalist rethoric like an idiot. I should have just thought for myself but i guess you have to pay a heavy price to learn a lesson sometimes.
norok
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@lollerfirst, The Bitcoin Maxi movement is such an interesting phenomenon to me as someone that has been watching the culture of Bitcoin for over a decade. It really started surging in popularity right around the time that Bitcoin dominance dropped below 50%.
lollerfirst
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@norok, yea it's just a massive collective coping mechanism because bitcoin is losing ground to other alts. The logic is really sound if you look into it (and that's what really got me) but the market is the ultimate judge and up to now it didn't like it. What's what they say? "the market can stay irrational longer than you can stay solvant" lol
Djawad_Afsharirad
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plz put out more videos! I really enjoy your honest and pro assessment
JSchart
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I really enjoyed your video format (vs just a stand alone chart) of bitcoin. It's always great to get inside your head a bit more in-depth. You've been spot-on since the btc top.
Techno-Fund
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Chart review with technical elements and frankly explanation all were as always great. Thanks a million.
silmaril0875
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Very good information. Just started following you. Lets see how it goes!