Crypto, Fitness and House music
Manchester, England
Joined December 2023
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This week is likely to be a very volatile week for Crypto, I’d like to see how it pans out. We’ve got major buy orders at around $79,000 just below our current bitcoin:native price. We’ve also got the FOMC meeting on the 27th and 28th where interest rates will be discussed.
Retail always follows the trend of price after the trend has started, they then get liquidated by a reversal and follow the new trend of price. That is the cycle. You just need to know when to position yourself before the trend has started.
If you’ve been buying bitcoin now in this recent dip, then you should also be willing to buy if their is a 30% dip because of a “black swan event” for example. Because volatility like isn’t rare in markets like this and you can’t just be shaken out this easily.
In my opinion, now would be a good time to start getting into low cap altcoins/memecoins because the liquidity is slowly starting to enter back into the markets.
Unpopular opinion, but if your just interested in being exposed to the price action of assets like bitcoin:native, then I think the ETF’s that big institutions like Blackrock offer are a solid option for safety with all of the current safety concerns going around.
One thing people don’t realise about the Crypto Clarity act is that, if it does pass it means Crypto will become heavily regulated and restricted. Therefore innovation will be stalled, in my opinion, better rights would be a greater driver for Crypto rather than restrictions.
Just like @cryptorover said, retail are constantly being trapped. This is why it’s usually smarter to sit on the sidelines and stay patient before making any significant actions when these macroeconomic events are unfolding.
People have become more greedy since yesterday because of a very small increase in price of bitcoin:native. This is why you need to stay on the side lines and stay patient until your sure your strategy has been validated. Buying in fear is usually good (historically).
We’ve been slowly descending towards fear the past few weeks, proving my point about the market being very emotional towards price action and small moves.
It’s a fact that the people who lose money in Crypto are the people that follow the crowd and go long when price is rising and go short when price is going down.
The people that thought the 10/10 crash was going to happen again is another clear piece of evidence on how emotionally driven the cryptocurrency market is.
As these shorts are piling up I’d expect to see the rest of the longs get flushed out (price dip temporarily) in the short term and then after that I’d expect a short squeeze to start off the upcoming bull market cycle.
