One of the characteristics of a bear market is complacency, lack of interest and downright boredom. The lack of volatility really drives people away especially those looking at other more exciting prospects. There are TONS of interesting projects in the crypto space and Bitty is just not that fun to play with right now unless you use massive leverage on really short moves but that can rekt you quick. For every one else . . yawn.
Rule of thumb in any market is that Bear duration is typically 2X bull duration and according to Glassnode, despite some unique analytic characteristics and looking at realized price and long term HODLER convictions, we're comparatively only about 1/2 way through when looking at previous bear cycles.
Honestly, I don't see how we don't get at least one more drop to 16k-ish if this current doldrum isn't just some kind of stabilized distribution. Dunno for sure but I def wouldn't put all of my eggs into the BTC basket here.
DCA is the way friends.
Good luck and as always, not investment advice.
~Box
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Another one biting the dust here and probably some doom on tap for Bitty . . Excerpt from "Guy" at Coin Bureau . .
"Core Scientific said in open filings that it would run out of money and have to declare bankruptcy. Core Scientific stated that it was unable to meet its financial obligations due to a range of factors such as the low price of Bitcoin, the rising costs of electricity, an increase in the global BTC hash rate and its legal issues with crypto lending firm Celsius.
At its peak, the Austin-based company generated almost 10% of the total hashrate for bitcoin."
looks like the PPT might pump Bitty ahead of the Core Scientific doom inbound . . enjoy the fireworks!
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well look at that . . Bitty decided (despite fundamentals) to come out and play after all . . talk about throwing good money after bad. PPT workin' hard to prop up a sub-par project
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Pump into EOY so they can tax ur a$$ in the spring when the bear continues, suckas
Trade closed: target reached
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Nailed eeet! Check out my newest idea for the Bitster, Look for "BTC Beatdown"
Trade closed: target reached
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Moving this to the BTC Beatdown idea, stay on track with me there :)