Bitcoin Krach, so what? Weren't you "here for the technology" ?
Hi HODLers,
Let's face it, we have had quite a few difficult days lately with Bitcoin and risk-on assets crashing over the past week.
Remember when crypto users used to say "I am here for the techno" back in the post 2018 Bear Market? I also remember when there was more hype around Blockchain than Bitcoin.
Cryptocurrency Markets
Most names are down 30%+ and a big chunk of the smaller cryptocurrencies have lostmore than 50% of their Market Cap.
I feel that overall this is a good thing to clean out the space aas many were completely overvalued.
NASDAQ, the US technology index has also been suffering in 2022
Fear and Greed Index
When I feel I am seeing too much and too often markets in red, I check this goold old Fear&Greed Index to see where we stand. Let me tell you, this just gave me a boost of confidence that we might at least bounce back in the short term !
I have been quiet so far about strategy. As you can read in my older posts, I have been swtiching to stablecoins farms over the past month and I might just go the other way and start adding some blue chip cryptocurrencies back (BTC, ETH, FTM, HIVE...)
We are back at Covid-19 Krach numbers ! And this is where we started the past 2 years Bull run.
Technical analysts keep saying we need to HODL $36k in order to save us from the Bear market. So you know what we have to do !
Stay safe out there and take time to research cool new projects who continue building despite the dip.
Latest Analysis
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Hodlers shouldn't be crying about the dip though.
HODLers should do what they do best. HODL
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We are here for both the money and technology.
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Indeed, but many do not even understand/researched the techno.
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That's their loss then
To get the money, understanding the technology comes first
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It technology that brings the money.lol
So what if it goes to $30,000?
It's not like it's the first time. It feels though like $30k is the new $3k. It might be possible that if the majority is expecting for a bear market that it won't actually happen.
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Indeed, in the crypto world: what is expected shall not happen ! :D
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Do you remember when the majority was expecting $100,000? That didn't happen. Look what the majority is expecting now.
https://twitter.com/VinnieLemon/status/1484917842252218369
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If we are on BTC for the Long Haul then DCA during the crash is the way
I des ! I am not doing DCA now. I just cash out stablecoins and buy in chunks. Just cashing out these stablecoins once a week. Might be DCA style now that I think about it hehe 😉.
Take care my dear runner 🏃♂️
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you too 😀
I don't think 36k is the floor. In a way, I think our floor is probably closer to 30k or so.
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I hope you are wrong but if you are right I will also be happy. I just hope we are not both wrong and it goes sub 30k
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