It looks like this is the trend in BTC right now, everyone is just waiting for a dip and enter as soon as they feel btc has hit the support level. It'll be a foolish thing to sell at this moment even though many planned to sell when the price was below 20000$.
Zoom out whenever the word “SELL” enters your mind. Bitcoin has been on a super bull cycle since 2011. Don’t listen to the forum trolls, negative news, nocoiners and toxic anti-Bitcoin people.
The accumulation and the rally in the Bitcoin shows that investors want to hold right now and will buy in every dip.
Indeed, but as plebs we should find better bids of entry, which can only be found during “super corrections”. It would be better for our mental health.
In recent months, I have been meeting with quite a few people in real life and talking about bitcoin, and they just seem so god damned ongoingly distracted by either
wanting to get into shitcoins or gambling in other ways with their bitcoin approach. I frequently suggest the same thing, including getting started right away.. and don't get distracted by shitcoins.
Let them.
I think that I am attempting to be descriptive rather than prescriptive, even though I do have my own tendencies to denigrate the tendencies of people to gamble, to buy into the shitcoin talking points and to get distracted by shitcoin pumpenings. There is a certain level of desire to get rich quick, and then if they see that there could be abilities to put small amounts of money to get large percentages of returns, these kinds of folks will subsequently conclude that they it may well be a good idea to put large amounts of money in order to magnify their returns.
I realize that there is likely NOT a whole hell of a lot that I can do about these matters, but you never know too in terms of attempting to help some people to learn about their self-sabotaging tendencies to be able to learn - at least on the margins to NOT take so many risks with their investments.. to treat their investments like investments rather than like gambling.
So accordingly, some of my real life conversations have caused quite a bit of frustration for me because even some basic principles do not seem to sink in for people, even though I have tendencies to repeat myself over and over and then when they say something about how they interpret a potential plan forward, it seems that little to nothing has sunk in their noggens.. and surely people learn way better when they can experience some matters for themselves, and even with the dumb stubborn fucks (who happen to be friends and relatives) with whom I speak in real life, happen to at least just start to get involved early by setting up some accounts and maybe attempting to control themselves to a wee bit of degree, maybe they will not get too reckt, learn along the way and be able to profit in the longer run by at least attempting to put some level of priority to bitcoin accumulation rather than focusing too much on short term dollar denominated profits or losses.. a work in process and probably gambling tendencies and doubts about bitcoin that are NOT going to go away anytime soon.
But the fact that many people, respected people, are coming around and finding cryptocurrencies to be a fall back/back up in case the the financial system fails is definitely bullish. I believe the more they learn, they throw all shitcoins, and HODL Bitcoin.
Yes.. surely, I see this tendency too, which does provide some hope that at least smart people might realize the bullish case for bitcoin, so the information has always been there and there seems to be some even more compelling kinds of evidence in recent times - even though normies still have tendencies to misread and even fail/refuse to recognize and appreciate some of the bullish information and to act accordingly without getting distracted into shitcoins which may well include valuing their wealth too much in that shitcoin known as dollars which will also cause them to sell too much bitcoin too soon or fail/refuse to buy bitcoin because they are too greedy in their waiting for a dip that might not happen... or failing/refusing to act upon a dip that just happened... I.e our lil dippening to $45,700.
https://twitter.com/squawkcnbc/status/1392093978812633088"5-6 years ago I said #crypto was a solution in search of a problem," says Stan Druckenmiller. "The problem has been clearly identified. It is Jerome Powell and the rest of the world's central bankers. There is a lack of trust."
That’s from one of the most respected investors. He finally understands what we understood. He’s not into Bitcoin now, but I’m confident that he will be.
Of course, there are peeps coming around, on the cusp of investing into bitcoin, and even making decently smart statements that should be helpful for normies to recognize and realize both the bullish case for bitcoin and the prudency of taking actions to ensure long term investment plans into bitcoin including getting started, getting a stake, setting accumulation targets, and acting on their plans, even if their budgets might only allow them to inject modest amounts into bitcoin until perhaps they get their finances in order, which is another problem that normies tend to devolve into... if you cannot get some of your cashflow in order to be able to keep up with expenses, then it might become even more difficult to set aside a bit of the cashflow for investing and recognizing NOT to over do it until getting ones cashflow in order.
It looks like this is the trend in BTC right now, everyone is just waiting for a dip
I'm kinda wary of these words, its close to
crowded trade which is something to avoid because of over speculation which can result in adverse effects that cause that previously reliable and observable trend to at least reset. Problem is traders use leverage so when something becomes too popular I think it can get ruined in its reliance, its pretty much a universal rule for open markets and we tend to go in cycles of movement rather then easily move up (or down).
Just a passing thought anyway, I'm watching moves like anyone else not certain except that
dollar index really has some battles ahead of it quite likely.
These are some justifications that I attempt to suggest that buying on dips also need to be accompanied by DCA practices. So for example if any normie realizes that he has $1,200 extra in his cashflow that he is able to invest into bitcoin, he may well want to spread that investment out over some period of time including using some to buy right away, using some to DCA and using some to buy on dips. I know that it seems like it is going to cause fees to become too high or to cause too much complication by creating a lot of small amounts to put in different categories, but I would suggest that the longer that normies practice with these kinds of managements of their cashflow, the easier it becomes, so getting another $1,200 in cashflow that can be allocated to BTC investing ends up getting added to some kind of BTC fund that should already exist and then maybe some of the money has self-created and self-directed timelines such as weekly or monthly that it should be invested which should take away some of the "wait and see" aspect that may well cause some people to be waiting too much for dips that might not happen or kicking themselves when dips happen after already buying decent chunks or using their (weekly, or whatever) allocation of cash to buy bitcoin.