We see it every bull run... Bitcoin outperforms nearly all other financial securities, then the new wave of unexperienced investors come in and spread euphoric delusion throughout all corners of the internet. Well, it is time for a reality check. The fundamentals of Bitcoin tell us that every halving we do see a large rise in price, followed by a steep dump that holds over into the next halving.
But, on the more individual/personal basis, the vast majority of people using bitcoin are new investors. The seductive parabolic rise always attracts the most naive individuals who still know nothing of how this market truly works. Weak hands will be exiting soon.
Do not be naive like the rest. If you are buying in now for the purpose of holding long-term, I understand. But, if you are looking to earn a 3x ROI for an easy year long short, you must act soon. The market is currently reaching the official end of the bull run.
"How to get liquidated 101".
Weak hands can exit at any time, no one cares about them. 84% of supply is either lost forever or controlled by long-term hodlers now.
Market is trading in profit and absorbs all exit liquidity, it's not a relief rally. That's what fundamentals tell us.
yadmani27
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Agreed. New blood will get butchered.
newbtrader329
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agreed. how can anyone look at this chart and still think 100k
I really doubt that whales are going to let it fall down below 20K level lol
ericdabbs
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@zsharyginz, We never know with BTC. Right now 20K seems logical and has been mentioned by a ton of people for the level of support which tells me that the whales don't want to be predictable and could at least dip below 20K to really shake out those that have been holding long.
ImminentDebacle
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@zsharyginz Whales are not along for the ride as you suggest. They are the market makers which will drive the price down purposefully.
Orcishruler
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I 100% agree. I have October 15th puts on MSTR and planning to take profits if bitcoin retraces to 44K. Do you think we pull back from this 49.5-50.5K level this week? The daily chart looks like it's doing a shooting star-like pattern.
bed87
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Even if you're buying to hold long-term, why wouldn't you just be patient and buy it when it's a lot lower?
Weak hands can exit at any time, no one cares about them. 84% of supply is either lost forever or controlled by long-term hodlers now.
Market is trading in profit and absorbs all exit liquidity, it's not a relief rally. That's what fundamentals tell us.