Hopefully 6400 will have a shot, but the speed down is brutal and the volume is still sad and longing for the Bargain Boyz to return.
If 6400 doesnt hold I dont see how we dont get to at least as low as 5200. That should be a compelling price even for the stingy, cold and calculating Bargain Boyz.
Damn Lambie, I have to say I'm pretty impressed with the general gist of your calls over the last couple of months. Your bearish leanings have been vindicated.
The Bargain Boyz attempting to pick up just north of $7k have thus proven themselves to not be very good at their profession. The real Bargain Boyz will only be known to us after they have already picked up. The art of identifying the steep dollar-store bargain as its happening is one that is difficult to master.
Sir take my last 4 merits. The obvious truths are hardest to see through a cloud of bias and neediness and I commend you for having vision to pierce through that miasma. The bubble to 14k while it was spectacularly surprising and not obvious in its rise, was destined for an obvious fall if you were impartial to the circumstances.
This impartiality is exceedingly difficult for people who have not invested enough. This is counterintuitive so I will explain what I mean.
The general dollar store advice is that if you are biased and stressed about your investment you have invested too much, while this is true, even with Bitcoin,
the opposite is also true when it comes to King Bitcoin. It is such a good investment that true bias and stress comes from investing a large amount, but the amount not being large enough. When you take your investment level to ridiculous extremes in percent of your net worth you become free of worry because
you are forced to accept the fact that it could all go to zero and you will be wiped out in savings. As you deal with and accept this possibility early you realize that you are part of a cause greater than yourself and hypothetical losses in the future are inconsequential. This same phenomena is why you see children with cancer who may not survive enjoying life while their family freaks out and is sad all the time. The child is all in, while the parents are just heavily invested. The child is forced to accept the potential of his death and he becomes ok with it, the parents worry and stress the whole time.
So the only stress free way I know of to invest in King Bitcoin is to go virtually all in.
Any other option is where the worry can get you and the bias can cloud your judgement.
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