Observing $21,023.
Not much to discuss, no meaningful bounce yet. I’m expecting lower lows this year to be honest. After every Winter though, comes Spring. We’ll ride it out, moon in 2025. Enjoy life & stack as much as you can. Don’t get too upset about short term price movements. 1BTC = 1BTC, if you have a time preference longer than 2 years you will be fine.
I hate to say that you might be right..
you party poop...
But, I also hate to be spreading overly optimistic cheer when it is not warranted, and for sure, I probably should be updating my downity prediction percentages (since I had
last updated them on May 19 - when BTC prices were around $27k), but I really do not like thinking about downity in terms of a lot of details even though I still retain some ideas in my head.. I might just not want to get into those scenarios very much - I am not going to admit to being in denial of the possibility of down or even a lower low as you frame it that's for sure, because I have various specific and ballpark preparations that continue to including buying more if the BTC price goes down and maybe even resorting to HODL, too... or maybe DCA... living various aspects of life and maybe figuring out whether or not certain expenses might need to get cut.. so rather than five hookers, lambos and blow to hunker down to ONLY two... things like that to make it through these admittedly tougher times.
So yeah right now our lowest low of this cycle remains at $17,953.. so it may well not hurt to plug in some downity predictions at some point.. I am not feeling like doing it, yet.. I hate to even talk about where my various buy orders are at currently (even though they are there.. just not in the mood to discuss at this time.. you fuckers..
(not referring to anyone in particular)).
And gosh, holy shit LFC.. I hope it does not take 2 years for many of us BTC HODLers to feel better.. If we keep up various decent practices of prudence in our BTC management practices, whether we consider our lil selfies in the accumulation, maintenance or liquidation phase of our BTC investment, I am hoping that it should not take 2 years to start feeling MOAR better... Yeah, if we engaged in considerable fuck ups including over-leveraging or other risky plays that caused us to lose significant portions of our BTC (let's say more than 10%-ish), then it could take 2 years or longer for those guys to start feeling MOAR better.. and they may well never get back to even close to where they were.. variations in the form of getting reckt... anyhow, maybe I am just quibbling with how any of the more prudent/reasonable folks (I am including my lil selfie here) are going to need to have such high expectations that we have to get back to $50k or whatever before we start feeling MOAR better.... I don't really want to quibble too much but I don't really have to have BTC get back to ATHs or even $50k before I feel good, and I would anticipate that having some prudence and reasonableness in practices and expectations, there are a whole hell of a lot of ways to profit from BTC and continue to profit from BTC, especially for anyone who has longer time frames - even if some
(even prudent) folks are currently under water - perhaps folks who have been in bitcoin for less than 2 years may well be underwater currently, yet I am still going to argue that any folks who got in less than 2 years and happen to be underwater are still likely not even in a bad place so long as continuing to employ whatever means of combinations of DCA, buy on dips and/or HODL...
Of course, your milage may vary
(especially for you guys under water)..and even though I had spent a couple of years underwater (LFC, too I believe), even though I sometimes felt some tensions about being under water, I also felt a bit of pleasure on those occasions when I got some extra cashflow (or DCA abilities) to have the fortune to be able to buy BTC and to realize every single purchase that I was making at that time was causing my total average cost per BTC to get pulled to a lower cost per BTC.
By the way, I cannot help myself from continuing to type.. fuckk..
The guys in their liquidation phase or close to being in their liquidation phase of their BTC investment are likely most fucked in terms of whatever dilemmas that they might be feeling, currently... no one wants to be selling at these kinds of prices.. so probably the best that those in their liquidation phases can attempt to do is to just attempt to be somewhat modest in the amounts of their sales.. and to figure out if they are able to hold on for whatever period of down in the short term might still exist.. or flat.. or even little spikes up.. and sure there are always chances of a v bottom and total recking of various shorts.. and the reality of the matter is that those are minority likelihoods that probably should not be banked on.. even though they sometimes do happen from time to time.. and April 2019 until June 2019 was one of those.. but they are surely not assured, even though they can happen.. so the dilemma of those in or close to liquidation phases is if they had already cashed some out at higher prices then they may well be sitting o.k... but if they haven't they have to make various assessments about what to do too in terms of making through our current period of seeming bottom that could go lower or might not.
Observing $21,023.
Not much to discuss, no meaningful bounce yet. I’m expecting lower lows this year to be honest. After every Winter though, comes Spring. We’ll ride it out, moon in 2025. Enjoy life & stack as much as you can. Don’t get too upset about short term price movements. 1BTC = 1BTC, if you have a time preference longer than 2 years you will be fine.
Frankly, I think that this kind of times are wonderful times for buying Bitcoin and accumulating it. I have already started to buy Bitcoin gradually. I still don't understand why people are in panic now. You must already run the risk of taking some risks if you are investing into cryptocurrencies.
If you are a low coiner or no coiner, and you are positive about bitcoin, then surely you can appreciate these kinds of times to accumulate, but if you have a lot of BTC and you might not have cashed out as much as you should have, then you may well be more panicked and nervous.. and moreso if you might have engaged in some leveraging of your stash..
Observing $21,023.
Not much to discuss, no meaningful bounce yet. I’m expecting lower lows this year to be honest. After every Winter though, comes Spring. We’ll ride it out, moon in 2025. Enjoy life & stack as much as you can. Don’t get too upset about short term price movements. 1BTC = 1BTC, if you have a time preference longer than 2 years you will be fine.
Frankly, I think that this kind of times are wonderful times for buying Bitcoin and accumulating it. I have already started to buy Bitcoin gradually. I still don't understand why people are in panic now. You must already run the risk of taking some risks if you are investing into cryptocurrencies.
People understand that this is the best time to buy bitcoin but are not ready to be patient with bitcoin, they are just greedy , only expecting profit from bitcoin at all time, forgetting that bitcoin is volatile and when the price go down low the only option is to have patience to wait when the market add values .
There may be some people who fucked up in their assessments in terms of their own financial management (how much to keep in cash versus BTC) and/or their risk management (where to store your BTC and if you want to get a dividend on your BTC).
Maybe I should give an example?
I know a person who does not really seem to understand BTC very well, and kind of just goes along with the NGU technology and surely was expecting $100k by the end of 2021, and maybe even to have some of those high prices to linger into 2022.. but each year this person is supposed to be selling a portion of BTC to be able to live and to cover some expenses (projects etc - even living a higher life style than what had been available prior to getting into BTC several years earlier).
Around early April I recall having a discussion with such person when the BTC prices were around $47k, and there had been no cashing out of any BTC yet, and there were potentially a lot of bills coming in June/July/August due to ongoing and anticipated construction costs and some other stuff. I expressed some concerns that nothing had been cashed out, and I anticipate that there were ongoing thoughts that the BTC price was going to go up rather than down, and they would be o.k. with flat too, but we neither got up and we also did not get flat, so then we are faced with DOWN, and I also learned that the same person had been getting income from one of the entities that had connections with the various scam projects that either went belly up or are in various states or insolvency..
The person seems to be in a situation of a forced seller, because coins are drying up. and the bills are coming in... and the person failed/refused to be more prudent. By the way, I knew about that persons involvement in one of those interest bearing accounts for more than 3 years because that person had tried to give me a reference code and was doing that to entice other newbies into bitcoin. and there was nothing scandalous about it, it was merely based on good intentions to get others involved into bitcoin and to earn an interest rate too... Several times, I mentioned that bitcoin is designed to pump forever, so you should not be putting your money into those kinds of products, so my point is that even people with good intentions get into those kinds of illiquid products and then their overall funds and funds available dry up. Even if the person might have had 15 BTC and they only had 2 or 3 BTC in such product, 2-3 BTC is still a lot of BTC for their own financial circumstances to potentially lose or to just have locked up...and people can be stubborn, even when they don't really know, they are willing to take risks, even if they are not bad people or anything.. and they might even have a lot of common sense, but they still get into a kind of pickle situation with both their maintenance of cash versus bitcoin and their desire to earn on their BTC that they hold based on merely wanting to earn 3% or whatever.
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