Blackrock iShare Bitcoin Trust ETF has increased their position from $499M to $707M as of 16th January 2024...
Make that $1.06B as of the 17th January 2024
+$300M in 1 day…
Upswing will come, in the meantime HODL strong and BTFD!
Always funny how a long term developing taxonomy is being evaluated from a short term view, regarding that 0,001% tweet
It seems like the old "It's a bubble" narrative from 10 years ago managed to hold up.
I love how you are referencing Bitcoin as a living/breathing organism!… reminds me of my early days working at a clients operation, you could stand back and just watch the place run, better than a well oiled machine…
But you are right, short term views seem to have a greater impact on people choices. Maybe it’s due to the fact attentions spans are being decimated to quarter mile times! I blame tiktok/IG Reels and YT shorts!
I bet you're right regarding that short attention spans, at least it feels plausible, as far as i can compare with my observations of "close" society.
But: The dynamics behind this behaviour is also able to be explained by (lack of) impulse control and also extrapolation of short-term events onto the mid to far future.
Extrapolation in the means of, for example, a short dip not bought up within a day or two seems to project fearful thoughts between "we're going down moar, soon" and "the whole BTC bubble will pop, soon" in more than just some individuals. While i know these fears personally from my own past, they were always cured by zooming out and remembering myself about the timed market cycles. My impulse responses almost always led me to the wrong decisions, in hindsight. I have to admit though, that i suffer from impulse control disability to a good degree, but i have learned to manage it through awareness and discipline. Two things you can't really expect from a good part of market participants. Becoming a Bitcoiner was awfully accelerating that learning process, to be honest.
On the other hand, short term up's seem to ramp up the number of longs through greed and fomo, and those seem to be liquidated very often when the FOMO is correcting shortly afterwards. I was keeping my hands off leverage for a reason and it was good that way
EDIT: After thinking over my reply, i guess it's mostly the YOLO (which, in my opinion is
half way mistunderstood, see below) society that is prone to impulsive decisions.
And YOLO, the term for "don't care about the future", is in fact a very precious concept, when you look at it the yin-yang way:
There are times you should not care too much about consequences of your decisions, resulting in missing out opportunities you can take only one time in your life.
But there are times, you should indeed care about such consequences, because these could degrade or prematurely end the one precious life you have been born into.
So, YOLO advises one to weigh the importance of the now gainst of that of the tomorrow. That's the way i understand it.
A better term to replace (the half way misunderstood) YOLO! in a more meaningful way would be "Live fast, die young", as we said in the old times
Enuff of the offtopic now
But but
Last months been able of buying those prices and cheaper all the time…
i have emergency fiat stashes i keep for occasions like this
I started to build these kind of reserves too, recently.
Just pointed that out
a page three pages back or so...
Poll
