Fomosapiens
All of the sudden, as if people have awaken from their graves, the crypto twitter is blowing up with banshees screaming moon yet again. I'm watching what's going on and wondering how many people will get their ankles broken on the correction that will probably come tomorrow or the day after.
15% ?
There is no way to put this lightly my friends. If you think that 15% run is sustainable, you've not been paying attention at all. This is exactly why these markets are so dangerous to retail investors, because these runs are completely irrational. I mean, don't get me wrong, I do want to see BTC go up and while doing so pull up all the alt-coins that I'm partial towards, but I would love nothing more than to see this happen gradually.
Why? Because the crazy volatility does damage in two fronts. On the one hand it makes serious investors stay away, as they literally can't help but to the think the manipulation of the markets is too ridiculous. And, on the other hand, the retail investors end up getting rekt'd.
Be Smart
Putting your house on a second mortgage to catch the rocket to the moon is about the worse thing anyone can be doing at the moment. If you're in the profit at the moment, consider reducing your exposure and taking some off the table.
If you are not "in play" so to speak, in my opinion the right thing to do is nothing, at least today. I would not be surprised if we retest 4k or even 3700 before the week ends.
As far as I'm concerned, I'm going to just watch some charts and order books and try to learn from the market movements a little more. So in other words, I'll play it so safe, it's gonna be boring.
The folks I follow are a little leery and speculate this is a bull trap. I have been around crypto enough not to get caught up in it. Also, I have limit sales set to take advantages of the peaks.
So, when it goes down, I can buy lower. Nice to have the value of my holding portfolio inflate a bit for a change.
No fomo!
Posted using Partiko iOS
Excellent review @meno and you are right, too high a rise in Bitcoin prices in a short time is dangerous and we need to be very careful here!
I can say one thing for certain: A currency crisis is coming.
Banking as we know it is going to collapse. No one knows for sure when the shit hits the fan, but it will sooner than later. The Basel III April 1st change to gold is a big clue though, for banks are getting ready. Lots of governments around the world are stockpiling precious metals and dumping US treasuries too.
It's just a matter of time, and we'll have a global greater depression.
As long as the grid stays up, crypto is going to do well. People will rush into it as an alternative. Crypto is a heck of a lot easier to carry across a border too compared to precious metals. With expatriation taxes like 55% to leave the USA, people will be looking for ways to protect their wealth.
In case the grid doesn't stay up, there's a global war, or even a nuclear war though, I highly recommend people get supplies, food, water, and the means to protect those things before they invest in crypto of precious metals. After those things are taken care of however? By all means, diversify your wealth into many different baskets to include crypto!
I also would’t be suprised if we get anoother good pump tomorrow back to 6k levels. The fomo is real right now bears are panicking. Bulls are taking over the markets. We saw many failed attempts of bears trying to take down BTC everytime we got at 4,050 levels this last week or so. More bears are realizing we wont see a lower low and are getting back in. We will never see $3,125 Bitcoin in a very long time if ever again.
Caution is always a good move when money is on the line but I must admit that I love watching my account value jump like this. It might be short lived but it feels good lol.
This is why Dollar Cost Averaging is the best strategy to accumulate these assets currently as nobody knows where they are headed short term! However, have in mind that towards the end of bearish cycles, disbelief in the bottom and potential becomes a part of investor thinking!
Posted using Partiko iOS
While Im not disagreeing with more possible downside and a buy order around $4.2k maybe a good opportunity, just think how many people were wishing they could buy 5k Bitcoin back on 2018.
5k Bitcoin may seem expensive to some while being insanely cheap to others.
FOMO trading is never a good idea.
Posted using Partiko Android
The mainstream adoption is coming and the volatility will not stop to make his progression!
Posted using Partiko Android
Hi @meno!
Your post was upvoted by @steem-ua, new Steem dApp, using UserAuthority for algorithmic post curation!
Your UA account score is currently 5.989 which ranks you at #325 across all Steem accounts.
Your rank has not changed in the last three days.
In our last Algorithmic Curation Round, consisting of 247 contributions, your post is ranked at #22.
Evaluation of your UA score:
Feel free to join our @steem-ua Discord server
Thank you so much for participating in the Partiko Delegation Plan Round 1! We really appreciate your support! As part of the delegation benefits, we just gave you a 3.00% upvote! Together, let’s change the world!