A little embarrassed, I must confess - I smelled a top.
It couldn't just go on forever. Remember, it was a holiday in the US, so big players couldn't come and put a lid on our precious. That's why retail had their field day without much interference. The corn will grow much taller within the year if you ask me, but for now she needs to take a breather.
Even if there are small corrections, that does not mean that the UPpity run is over.
For years and years, we have seen many examples where the UPpity run just continues and continues, even when there might be short pauses along the way. It is really not easy to know when the Uppity is done until quite a bit afterwards, when looking retrospectively.
Emboldened by the big gainz, I decided to play a small side game of roulette. I did short the corn, which goes again my first bitcoin commandment (or is that the second?) - YE SHALL NOT SHORT THE CORN.
But I think it comes out better as terse poetry. Let me wrap it nicely.
Whoaza!!!.. I thought that you graduated past your days of fucking around with shorts, but hey whatever.. this is one way of reinforcing the lesson, perhaps?
Historically we have seen BTC price runs that continue on and on and on and continue to reck the shorts and until no one is continuing to put shorts, and then perhaps it does one more little 30% to 50% additional upspurt after all of the shorts have been repeatedly wreckt before it finally ends up correcting. Sure, this time might be different, or this time might be within a realm of predictability. I am not going to claim to know since I don't even really know how to play the short game, so surely I have fewer tools in my toolshed when personally, I ONLY am doing longs.
Ashamed, I confess
A few dirty bucks richer
I shorted the top
#haiku
Ok... so you already closed it, then? that is the other difficult question - knowing when to close them, or knowing when to stop doing them, even if you might have made money this time, you start to get emboldened, until you get completely reckt..
nice having had known you.
Definitely dead this time.
All over folks.
Farewell.
Yep. The end.
$86k is the new low!
Thank god I put in those ladder sales.
I will be scooping up the pieces once we drop to 42k nice while it lasted.
That is likely part of your problem, phil.. selling with an expectation of being able to buy back cheaper. That kind of expectation has reckt a lot of folks over the years... either got them to sell too many BTC too soon, or caused them to fail/refuse to sufficiently and/or adequately prepare for UP... so when BIG UP happens they hardly have any BTC, if any at all.
Never going to get rid of the traders, and surely many times they don't even realize the extent to which they end up being low coiners or no coiners, and even if they are really low coiners they hardly even acknowledge that they don't even have close to enough cornz to make any kind of a meaningful difference in their life with little fiat profits here and there along the way, when they could have had 20x, 50x, 100x or even higher magnitudes of more coins than they hold if they had exercised a wee bit more better prudence (and willingness to defer some gratifications)..
this is escalating pretty quickly....
It might be just the noise before the US starts the real race when adding BTC to their treasury...
Imagine the US makes a kind of Saylor move and starts balancing their finances that way ...and other countries have to follow!
IMO we have seen nothing yet... don't sell too quickly, the next years are going to be wild...
Part of the dilemma that the USA ends up facing is that their announcing their intentions will likely trigger other countries to attempt to front run, so even if there was not an intention to add BTC to the treasury (reserves), the other countries engaging in such conduct could well end up causing the need to actually fulfill the campaign promise.
AFAIK the next presidency already announced to use BTC as a reserve asset.
If other countries front run and drive up the price, probably no OG here would be sad about it... would you ?
How am I supposed to be sad? Governments do all kinds of dumb shit, and it does not always work out for them or for their people.
One of the disadvantages of announcing a plan in advance is getting front run by retail, institutions and/or governments. Nothing that can be done to stop those kinds of matters, and bitcoin does not give any shits if bitcoin is figured out by friends and/or enemies first, and there is no forgiveness when people, institutions and/or governments make mistakes and fail to accumulate enough coins, sell their coins too soon or make other mistakes of telling everyone they plan to buy, before they do.. What's going to happen? Cry about being too dumb in regards to telegraphing the move? Not everyone is going to win when it comes to making sure that they accumulate earlier than others, and this bitcoin system is not like the fiat system, there is no way to print your way out of the problem that you ended up creating for yourself. I don't know the solutions since I do think that democracies are mostly supposed to be open, even we likely realize that they are not exactly as open as they claim to be.
many times there will be ongoing attempts at shorting even while the BTC price keeps going up.. pauses a bit and then goes up some more
I'm guilty as charged
I've got a stop, will buy back
Side gig, Your Honor!
#haikuThat is the thing with gambling. It is difficult to stop.. it is an escalating kind of a disease.
Sorry to be the one to have to disclose such hard truths.
oh and btw... good morning Vietnam !!
how deep will this correction go, under 80k?
seems to be exactly like eddie says... They are taming the pump... damn, for a few hours I felt a bit like back in the days, when face melting pumps where much more common
It is not over til its over...
Yogi bera
or the fat lady sings
or
whatever.
it is not over, yet... you cannot have a little correction distract you into conspiracy theories.
90k by the end of the week!... or McAfee will eat his own dick!...
Wow!!!!!!
You have high targets.
