Wut the Dump, Again?!

in LeoFinancelast month

About two weeks ago I made an article about then BTC dump. Those who read that article may notice that my price predictions sucked. BTC indeed went pretty close to $30K that week but later it bounced back to about $35K only. Yesterday it touched $29K.


Well, I've never been that good at price predictions. Fortunately, I didn't act upon my own future telling story and I was not going to. Actually, I was going to buy a bit more BTC under $30K for my hodlings. I even placed a buy order at $29K. But you know what? Yesterday I canceled that order because I wanted to buy some shitcoin shit -- and was too lazy to put that BTC buy order back. I thought I would have plenty of time to do it the next day. And while my order was away for several hours, BTC went to $28.8K and back to $31K... Well, what did I learn from it? Not much. I always knew that the market would never wait for me.

Anyway, I feel like I will still be able to buy some BTC below $30K, maybe even well below $30K. Again, I don't know what caused the dump, was it Mrs. Yellen, or that Twitter dumbhead and his "possible double-spending" bullshit, or a JP Morgan guy who watched BTC at $20K soon, or the "corporations" run out of money again. I have a nice conspiracy theory about the expiration of $3B of BTC options next week at Deribit with max pain price of $28K. Maybe the big guys had sold a shitload of options and now they want to drive the price close to $28K. If it's true, the next week the dump will continue.

What amuses me is a new bunch of "buy the dip!!1" articles everywhere. Buying the dip is good indeed, but how do you know that this is the dip? The Russians have a saying, something like "we thought it was the dip, but then someone knocked on it from below" (it actually refers to multistorey apartment buildings where your neighbors from below may knock on your floor aka their ceiling if you run a wild home party).

However, I'm still bullish on BTC and I will remain bullish until the "corporations" start dumping their shitpiles on their followers. I don't think it will happen anytime soon. Maybe it's a good idea to buy a couple of dips now.

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