How the heck could it be that we may have bottomed out without having the “Great Flush-out”?

I don’t follow charts, although I listen to qualified people who follow charts and have mastered TA. Does it really feel like Bitcoin is going to dump down to under $15k? I hope so for the sake of the whole coin chasers. But are we still in a bear market, while crypto more or less is following the stock market, which seems to have bottomed out. We haven’t had that big panic moment, we haven’t had those big legs to fall, we haven’t had the crypto is dead on the front page moment, we haven’t had the crypto investors throwing in the towel because now it’s really over moment. We still have about 20k coins listed in the market and 99% of those have still not vanished overnight. Is it me, or no amount of bad news seems to be effecting the stock market, and the reason I think is because all the bad news is already priced in. Inflation, recession, rate hikes, all these buzz words seem to have been overkill in this market. The stock market took its expected hit of what, 20-30% in the first half of the year, and it seems to be recovering in the second half. I’m still DCA, although I was hoping for this fire sale to have lasted a bit longer, but it seems like it’s greener pastures ahead. Since about mid June, I’ve counted 3 big moves in the stock market and they were all green. So wtf am I missing, except riding the swing upwards if I keep sitting on the fence?

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17 thoughts on “How the heck could it be that we may have bottomed out without having the “Great Flush-out”?”

  1. We also didn’t have the blow off top in the bull market

    BTC dropped 75% from the top and alts are 90% down so not sure what the great flush out would be in your opinion

    Having said that we might still find a new bottom but it’s not like we didn’t have a huge crash from the top

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  2. The bears are over confident in their analysis. They convinced themselves that the market should go lower based on fundamentals. They will be proven wrong soon enough . Same reverse psychology happens with bulls during a top cycle .

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  3. In the future we’ll know if we hit the bottom yet or not. Until then, we all are equally good and bad at guessing what’s going to happen next.

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  4. Just like we thought BTC would go to 100k in the bullrun, BTC isn’t going all the way to 10k in this bear market

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  5. Major moves in the market come from news..if more bad things happen then it’s definitely coming down again but atm the current highs are intact. I would worry if it slips below 20k again.

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  6. There are no qualified people.

    No one has mastered TA. That’s like mastering coin flips.

    If millions of people are making guesses, a handful of them will accidentally have guessed right a bunch of times.

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  7. According to daily price action it continues to make higher high and if it breaks above 24500 then I’ll say 17500 was the bottom

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  8. You can always go with Bitcoin was designed for the financial crisis in 2008 did you really think and it wasn’t going to adjust and figure it out all the macroeconomic factors that keep going off and it keeps moving we dropped yeah but cost of living everything is inflated right now so cash is inflated look at the value of the dollar then and now and you get more or less a higher price could be justified as the bottom

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  9. I see bitty under 20k fk the ta I dca into SATS 🙂

    Crabby needs more bitty to become octopus.

    Anyways no one knows where it will go but bitty going below previous cycle peak is a rare opportunity to buy.

    If bitty goes 10-14k I will deploy all stablecoins sell stonks and other investments to buy more.

    Below 10k I’ll start dumping my eth alts and all shitcoins to get more bitcoin.

    I don’t think there is much more capitulation left if goes low the hardcore maxis will step in.

    Btw check the number of bitcoins left on exchanges. It’s getting to all time lows as we all pull out and put into ledger.

    Bitty 🚀

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  10. If this is how you think about the markets I think its best to not even ask this question.

    There is no check list that gets followed and confirmed to mark the end of a cycle and beginning of the next one.

    Bitcoin went down to god damn 17.5k lmao, even with people calling for four digits, 17.5k is fucking insane after it spent all that time at 40k+. The 5th of May – 16th of June was fucking wild as hell. That night that we broke 20k and sunk into the 17s was a pretty big panic moment, man.

    Bear market rally, start of an uptrend, beginning of a bull market recovery, good price, bad price. Thats shit for you and everyone else to decide themselves, thats why most people just DCA and go eat burritos. Stop listening to people who have “mastered TA”.

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