Beauty in optimism during harsh times: The broader picture
Good evening!
Here's a broader view of Bitcoin for us to look at a grander scheme.
Us humans, we tend to to narrow our mind and look at small things and forget the larger picture. Yes times have been very difficult, and times are still difficult. Whenever we get a little bit of optimism, we get hit hard and affects our morale. So I figured I bring out some much needed optimism and reassurance.
Some Fundamentals :
I remember last year when Bitcoin was starting to gain popularity. Big institutions tried to kill it with some Chinese fud. A huge sell off happened from 3400 dollars towards 1200 dollars. Ethereum dropped from 385 dollars towards 110 dollars, litecoin from 55 dollars towards low 30's. I remember, because I bought litecoin at the top around 48 dollars, and times were really difficult for everyone. This was the last attempt to kill bitcoin, which failed and pushed price towards 5400-6000 dollars.
Then, institutions realized that Crypto is here to stay. So big bankers like Jamie Dimon came out with a statement about bitcoin, driving the prices lower, and then bought himself 60 million worth of BTC. This was the first sign that institution was going to get in. Then futures got announced when the big players got some position.
The banks needed a plan to take over BTC, because even with their larger amount of money, many whales outweighted them, and if in a market you have a lot of people that have more than you, you can't control the market. So the operation for the institutions was to simulate a bubble, get everyone aboard, trade the CME futures news towards 20000$, profit off their investment, dump on the market, crash the bubble ( which was a bubble ), completely destroy the market and force sell offs. The reason why BTC's bottom is around high 5k, is simply cause the strong support before the institutions got in was around that price. Once BTC's price was attractive, they increased their position, and now they control the market.
Crypto is now legitimate, and its use case is going to become mainstream in the next 3-5 years. 500 billion market cap is incredibly modest to what the crypto space can bring.
It is up to you to decide if the market is going lower or not. Today, I won't do a TA, because it really doesn't matter. You won't be able to outsmart the bankers in an unregulated market. That's why many great TA'ers aren't most of the times succeeding in their prediction. However, there is one thing you can definitely predict, and that the crypto space's market cap of 200-300 billion is incredibly low. So why not go out, enjoy your life, and be patient with your investment?
I just figured I would show you the positives, since there are a lot of negatives spreading around.
Here's a broader view of Bitcoin for us to look at a grander scheme.
Us humans, we tend to to narrow our mind and look at small things and forget the larger picture. Yes times have been very difficult, and times are still difficult. Whenever we get a little bit of optimism, we get hit hard and affects our morale. So I figured I bring out some much needed optimism and reassurance.
Some Fundamentals :
I remember last year when Bitcoin was starting to gain popularity. Big institutions tried to kill it with some Chinese fud. A huge sell off happened from 3400 dollars towards 1200 dollars. Ethereum dropped from 385 dollars towards 110 dollars, litecoin from 55 dollars towards low 30's. I remember, because I bought litecoin at the top around 48 dollars, and times were really difficult for everyone. This was the last attempt to kill bitcoin, which failed and pushed price towards 5400-6000 dollars.
Then, institutions realized that Crypto is here to stay. So big bankers like Jamie Dimon came out with a statement about bitcoin, driving the prices lower, and then bought himself 60 million worth of BTC. This was the first sign that institution was going to get in. Then futures got announced when the big players got some position.
The banks needed a plan to take over BTC, because even with their larger amount of money, many whales outweighted them, and if in a market you have a lot of people that have more than you, you can't control the market. So the operation for the institutions was to simulate a bubble, get everyone aboard, trade the CME futures news towards 20000$, profit off their investment, dump on the market, crash the bubble ( which was a bubble ), completely destroy the market and force sell offs. The reason why BTC's bottom is around high 5k, is simply cause the strong support before the institutions got in was around that price. Once BTC's price was attractive, they increased their position, and now they control the market.
Crypto is now legitimate, and its use case is going to become mainstream in the next 3-5 years. 500 billion market cap is incredibly modest to what the crypto space can bring.
It is up to you to decide if the market is going lower or not. Today, I won't do a TA, because it really doesn't matter. You won't be able to outsmart the bankers in an unregulated market. That's why many great TA'ers aren't most of the times succeeding in their prediction. However, there is one thing you can definitely predict, and that the crypto space's market cap of 200-300 billion is incredibly low. So why not go out, enjoy your life, and be patient with your investment?
I just figured I would show you the positives, since there are a lot of negatives spreading around.
Comment:
We took a small detour below to fakeout weak hands, but we went back up ! ALL GOOD BRAHS
Never felt more confident