BTC going to 0, the lines dont lie
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I hope you took profits cuz it’s going to 0
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If we have a legit recession, the redic levels of disposalable income we have now dries up and folks wont be choosing dogecoin over microsoft when they both tank with their left over pennies. Algos dont chase loses by buying speculatory cryptos.
When beanie babies crashed from 2,000 to 10 bucks a beanie, people didnt rush to the stores trampling over kids to buy. They wondered how the fuck they got duped into buying useless stuffed animal for that price.
I dont get the short term argument for buying right now. The US opens back up after a year of lockdowns. You can now go to Vegas without a mask. Lollapalooza is back on and announcing their lineup tomorrow. Their will be gigantic parties and festivals for the next 5 months, ain’t nobody buying crypto now.
Isn’t this the argument for buying crypto now?
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A couple reasons:
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Retail is no longer in control of the bitcoin market. Don’t see how any of those things are relevant to BTC demand for big money players. In fact, I believe it’s now at/approaching a much more attractive price/technical level for institutional investment. It’s no secret they’re very interested fundamentally. To think that recent events would have changed that in any way is laughable.
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Inversing crypto hivemind sentiment has worked incredibly well for pretty much the entire history of this market. It about as negative as I’ve ever seen as this point. BTC dead = buy.
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The market is acting in a results oriented manner based off the events of the last cycle. i/e expecting an 80% crash after peak. The combination of current macroeconomic environment, growing adoption and acceptance of crypto, and technological advancements in the crypto space make me think that such a pullback this time is extremely unlikely.
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I’m not saying everything is gonna skyrocket back in the next week or two, but I think even just a few months down the line most will be looking back at these prices as a major missed opportunity. This is a panic selloff through and through–I’d bet a majority of people selling recently will be right back in the game as soon as the candles start turning green again.
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about as negative as I’ve ever seen
you are very new to this LOL
We haven’t even gotten started. A ton of people still posting buy the dip ffs.
Ehh started following the 2p2 thread when price was around $600. Not an og but definitely not new.
Sure early 2018 was worse… but I’m seeing more fear now from the long term holders I know personally than I did even then.
Going to continue to be a bloodbath on the silliest of people.
It’s a freefall all the way to last January’s ATH. What are people expecting to happen?
last week greed this week fml thanks elon
You all are posting like you shoved your life savings in at 60k BTC.
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I should be the salty one who’s been trading in BTC as a reserve currency for the alt market lol.
Hell ya, sick trade, increased my BTC stack by 10% oh wait BTC crashed 15% in that time frame hell na.
p.s. I should specify,
It’s a little bit of this, a little bit of wanting the people who bought their bitcorns under 10k to lose all their money. It’s a bit uncouth.
I want you guys to do well, but I think people thinking it’s a good idea to buy the dip right now are insane.
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