What a wonderful day. Criminals have started running for the exits, as the long term moving averages are actually starting to bend for the first time in Bitcoin history.
The "short term" (several months) moving averages have crossed below the longer term ones too, announcing a really long and painful bear market.
And no surprise average Joe's are asking me if "investing" in internet magic beans is a good idea. The typical bubble collapse. With noobs buying in the middle of A wave.
You know what this means. We are very early. Assuming this is "just" an ABC correction and not a 12345 straight to 0 (which I think it is personally).
We have not yet seen the big sucker rally "hurray the bears were wrong" and the C scary mega drop is far away.
Bitcoin has also moved below a previous mini-bubble high for the first time. I wonder what excuses bagholders are making to cheer themselves up this time.
I called 12k months ago and here we are (soon). No way in my mind this (16,000) will be the bottom.
Actually I think there is not going to be a bottom.
Funny how this looks exactly like the curve of a pyramid scheme (or a virus spread or a bacteria population).
Oh and another exchange went to zero. What was the third largest one they say (FTX).
Here is how chain reactions work: exchanges all have a huge conflict of interest and are super heavily invest in magic beans (remember how Bitfinex "secured" their clients funds by gambling on Bitcoin with their money? 🤣).
Buying in a bear market is a big nono for me. You just do not know when it is going to end. Never hopefully.
I just went short for fun. It can easily go up 300% but can only go down 100, so it's not that great of a deal.
Emotional magic ponzi bean hodlers are whining and making up excuses again. Listening to their random "reasons to go up" is pointless.
You know it all started with a reptilian brain, then came the emotional brain, and finally the cold calculating cortex.
To me, bagholders in general just forgot to evolve and these sad primitive creatures are not worth my time.
Although watching drug dealers, pedo wholesalers and degenerate gamblers squirm warms my heart.
The "short term" (several months) moving averages have crossed below the longer term ones too, announcing a really long and painful bear market.
And no surprise average Joe's are asking me if "investing" in internet magic beans is a good idea. The typical bubble collapse. With noobs buying in the middle of A wave.
You know what this means. We are very early. Assuming this is "just" an ABC correction and not a 12345 straight to 0 (which I think it is personally).
We have not yet seen the big sucker rally "hurray the bears were wrong" and the C scary mega drop is far away.
Bitcoin has also moved below a previous mini-bubble high for the first time. I wonder what excuses bagholders are making to cheer themselves up this time.
I called 12k months ago and here we are (soon). No way in my mind this (16,000) will be the bottom.
Actually I think there is not going to be a bottom.
Funny how this looks exactly like the curve of a pyramid scheme (or a virus spread or a bacteria population).
Oh and another exchange went to zero. What was the third largest one they say (FTX).
Here is how chain reactions work: exchanges all have a huge conflict of interest and are super heavily invest in magic beans (remember how Bitfinex "secured" their clients funds by gambling on Bitcoin with their money? 🤣).
Buying in a bear market is a big nono for me. You just do not know when it is going to end. Never hopefully.
I just went short for fun. It can easily go up 300% but can only go down 100, so it's not that great of a deal.
Emotional magic ponzi bean hodlers are whining and making up excuses again. Listening to their random "reasons to go up" is pointless.
You know it all started with a reptilian brain, then came the emotional brain, and finally the cold calculating cortex.
To me, bagholders in general just forgot to evolve and these sad primitive creatures are not worth my time.
Although watching drug dealers, pedo wholesalers and degenerate gamblers squirm warms my heart.