Damn bear markets are long & boring. The only positive is these are the times that anybody with a brain lays the foundations for massive future success & wealth by buying. It’s quite surreal isn’t it, the way that most of us think compared to the average pleb in life. In a raging bull market lots of us are selling, confirming a comfortable life for us & our families, putting cash aside to buy back at a big discount when the bear market comes.
So many idiots buy during the bullish times & sell during times like this. It must be part of the brain where we are wired differently, our way of thinking. What kind of a moron is selling at these prices? Seemingly quite a lot judging by the price. Some people are just ngmi.
Any way, looking forward to 2024 & 2025, all the memes & happiness in this thread. {insert Ghana’s dancing pallbearer's gif).
Keep buying brothers of the wall. I do not want to see any mindrusting here, that’s an order!
I like the spirit, but timing is an issue re "in a raging bull market lots of us are selling". It's a pure guess on when you want to sell once it goes over previous ATH, I assume.
Immediately? Upon 2X from prior ATH? 3X?....not an easy answer. You sold and won (this time), but if it went to, say, 180K, the decision to sell at 60 wouldn't be so smart, right? Or maybe one shoud activate a steady small sell orders upon reaching some number and stick to it?
All I am saying is that the NEXT time it could be quite different (or not).
Now, when is a good time to buy? many bought at 50, 40, 30, now 20K. Was it a good buy at, say, 30K? Very well may be....in 2-4 years or so.
Personally, I did not sell any bitcoin at 60 to current, perhaps foolishly, albeit I took heavy profits in something else, so the cycle was not without profits.
I did take some profits in btc too early in 2017, so, maybe this affected my hesitation of selling above 60K, perhaps.
Re 'morons' who are selling....a whole gamut of those: late retail, leveraged a-holes, hedge funds who "have" to sell, etc.
In fact, i think that some major long term holders sold between 20K and 17.5K. Why? because bitcoin NEVER dropped below prior ATH before.
When something new happened, they took notice. Besides, some whale who bought at $20 does not really care of the price difference between 20 and 60K, he still made 1000X (not 3000X, sure).The idea that goes through their head is probably this one: IF btc went below prior ATH and is scraping just below 200 week MA, what else "new" it can do? Not relevant for me because I decided to play this one as long as I can while being mentally prepared for a low probability of even zero. It would be sad, but another experience of the
gestalt.
no mindtrusting, sure.
Of course, you seem to be describing/outlining the dilemma that each of us face regarding both attempting to figure out how much to sell on the way up (if any) and then how much to buy on the way down (if any), and surely having money from the sales on the way up, does make it easier to spend that money on the way down to buy BTC but it still does not necessarily result in NOT running out of money on the way down.
Also, sometimes we speculate that we had learned from our prior mistakes, even though sometimes we will still end up in a similar kind of pickle as we had done previously.
I do personally believe that it is good to have some various price points to sell on the way up, even if it is relatively small portions of your BTC holdings, and part of my philosophy, as well, is to sell such a small amount (on the way up) that you are not going to get emotionally attached to the fact that you had sold too much on the way up.. so when the BTC price is going up, there had been times where I was starting to feel that I was selling too much on the way up.. and so it seems to me that going through such putting the theory to practice does seem to allow some tweakenings that potentially will be able to help the next time around - but surely I will corroborate that it never is an easy thing to attempt to accomplish a kind of attempt to create sells on the way up and buys on the way down that are adequate and sufficient to balance out the comfort levels (and discomfort levels, too) (both psychologically and financially).
By the way, I still believe that any of us have the potentiality to mindrust, and surely any of us should hope that if we do end up mindrusting, it would be some relatively small portion (less than 33% perhaps?) of the BTC stash - rather than 100%.. but of course, any panic might cause us to develop way more confidence in the wrong direction than the situation merits.... so for sure, there is frequently some kind of mindrust inclinations in each of us.. even if we believe we have our finances and psychology sufficiently hedged/balanced.
another one, another one...bites the dust.
Biodom reference to this post:
dropping like flies...hopefully, we are close the end than to a beginning with those entities.
It seems like we receive various kinds of vague statements from several of these companies that largely seem to come after the public has already found out that they are "in trouble."
So one of the patterns seems to be that the company will amorphously report the matter, while creating the impression that everything is fine, and with the passage of time, we end up finding out more and more and more that everything is quite "
far from fine."
Sometimes it appears that the company is really fucked, but they are potentially going to be able to prevent their customers from losing funds, but surely other times it becomes quite clear that the situation is much further gone, and beyond any kind of recovery because they don't even ha enough funds to cover the customers, either. I would imagine that the ones being assessed by FTX or even by other possibly sufficiently capitalized companies are not going to buy the company unless there is at least enough capital to cover a vast majority of the client/customer deposits, and that can take a bit of time to figure out how bad is bad.
In sceen
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Holders VS Economy Manipulators
Source: Twitter Related to Finance & Politics
If you were to know how to provide a proper link, I might be more inclined to send you a proper smerit.. for posts like this... but I cannot bring my lil selfie to click on that "send" button.
I can't
I can't
I can't
Poll
