Not the bottom yet?!

I know nobody knows exactly when it’ll happen (or if it’s already happened), but just making a bit of an observation on what you see on Reddit daily. All these questions mostly coming from the get rich quick, moonboy battalion, asking questions like what if prices never rise again, is bitcoin dead, when will the bull run start etc etc. My point being crypto space still needs to lose a lot of these type of gamblers (sorry I mean investors lol), before the market really does bottom out. Also although the US are doing their best to avoid using the “R” word, British have come and stated the expect a long period of recession. I’m no crypto expert by any means, but to me there’s way more to come before any sign of a proper upturn. What are your thoughts?

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32 thoughts on “Not the bottom yet?!”

  1. I’ve slowly come to realize we live in a world where good times and bad times can be engineered and deployed for as long as they need to be. At this moment, the power brokers have decided to keep the *good times* switch engaged. Am I insane? Probably. But am I wrong? Remains to be seen.

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  2. At this point I do not really care. If prices drop, I will buy the same crypto at lower prices. If prices stay roughly at this current level, I will accumulate more. If prices jump up I will no longer accumulate but will have nice paper gains and be closer to my profit taking goals. So really, I do not care. There are advantages and disadvantages to each scenario….unless of course crypto falls to zero…..then I would care but I am not betting the farm, just a cow and horse…….

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  3. I don’t think there will be a new run for a while – which I’m personally okay with. I think we could have another leg down if inflation isn’t under control soon and there are further rate hikes. The situation with Russia or China could also make things much, much worse. All things considered, I think it’s more likely that we go down again rather than up. Having said that, it might be a good thing that engagement which crypto remains high – it shows the floor with regards to public interest, has definitely risen, even with falling prices and multiple large chain collapses, such as Luna. More eyes on crypto could mean a sharper recovery

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  4. Bought ADA average of 42.5 cent was good enough.weekly rewards decrease my average even more. If we reach the old ATH I did 500%.

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  5. Just wait until china invades taiwan wait a couple of months for everything to go down and then go all in. We still like 2 years until the next halving i suspect the bottom is yet to come

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  6. Historically speaking, the stock market has never bottomed before inflation has peaked, so until we see a few consecutive months of lower inflation – I won’t trust any rally.
    Considering the current macro situation, I think we are headed for one of these 2 options:

    * We go lower and I drop my entire cash stack when I see BTC around ~12k-15k

    * The bottom was already reached, but we trade sideways for a while and I end up buying at around ~22k-25k.

    The upside of buying cheap is much bigger than the risk of buying later at pretty much the same price as now. (especially on the alt-coins, that will 100% drop more %-wise than BTC)

    Now, anyone anticipating a massive bull run and a new ATH might disagree with me, but I think you have to be flat out delusional if you think we’ll see 100k BTC before the next halving or at least before a long sideways action. (supply-chains, QT, Europe energy crisis, war, etc.)

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  7. Just wait for the massive dump within the next crypto winter then start accumulating until May 2024, be patient and take profit in 2025.

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  8. Look at the weekly candle for June, when c. $17k was hit. Compare to other significant drops, notably the China mining ban and covid.

    Ask yourself if that indicates sufficient volume to mark a bottom.

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  9. I think bottom is in. No more fear, confidence is returning in the market. Will have alot of sideways but time to DCA

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  10. Anything can happen at anytime in crypto.But I also think we’re not going to see a bull run till the next halving.

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  11. >I’m no crypto expert by any means. What are your thoughts?

    You are very wrong.

    Blackrock is partnering with Coinbase and buying BTC and ETH Over the Counter to not affect the price. Just wait till all the over the country coins are bought up.

    More coins are being moved off exchanges and all those who got burned on Celsius start buying and and removing. Supply vs. Demand and coins keep leaving exchanges.

    Celsius and Voyager will not have to sell their crypto holdings in their current bankruptcy. Many whales sold expecting this which dropped the price to 17K. This is why FTX/Binance had some serious talks with Voyager/Celsius to prevent that scenario. These crypto coins are going to be locked up for years to come.

    The US Gov is not going to keep raising rates and collapse the economy just before mid term elections.

    Notice how we do not here anymore FUD about Mt. Gox payout that is supposed to take place this month. Complete BS.

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