Panic and despair, is what has gripped the entire cryptocurrency environment, as the King has moved, but this time in a position that takes many by surprise and leaves in complete disadvantage the cryptocurrency market.
Yes, history is repeating itself from 2017, where we were plunged into a complete bloodbath, and even the indicators show that we can still go down to the 24K zone.
Currently the Binance Futures app is completely paralyzed.
This is very similar to what happened to the RobbinHood trading app when the Game Stop manipulation occurred.
Is indeed epic what we are witnessing, and for the opportunity minded, it is an excellent time for quick market entries and juicy exits.
The trend is still down and as long as it stays that way, just follow the trend!
It will only be a matter of time before conspiracy theories begin to emerge as to why the price has fallen so sharply, and that is where we overlook the fact that a healthy asset must have moments of corrections.
Only in this case we are talking about Bitcoin ladies and gentlemen, the King of cryptocurrencies, the colossus and undisputed owner of volatility.
Can we ask for more?
We love to play surrounded by quicksand, walk on the edge of cliffs, jump out of a plane without a spare parachute, or simply without buckling our parachute like the extreme sports freak Travis Pastrana...
But we hate and panic when what is right in front of our eyes happens.
Let's be brave and endure the ups and downs that this roller coaster called Bitcoin gives us.
Let's see moments of adversity, as opportunities, as if I am now managing which bank wants to give me a mortgage, to get me some liquidity and go to the market in the best style of an impulsive buyer, with the cunning and caution of a snake!
Wow that whole paragraph above about mortgaging the house, is just paraphrasing, this is not financial advice.
Right now is the time to bring out that trader in all of us and take advantage of opportunities.
I hope to see you in 3 years time in a beautiful restaurant in Dubai, having prawns and scrambled eggs for breakfast, with some caviar, accompanied by a delicious Geisha coffee.
If you take into account and think coldly, at this point there is nothing we can do but wait for the market to recover.
Always remembering that "the market goes up the stairs, and down the elevator".