One more bullish sign in the depressing crypto market

in bitcoin •  5 months ago

On March 19 and March 30, the BTC hashrate bottomed out at about 22 mil TH/s. Both dates were very significant medium-term bottoms, followed by rises of about 20% and 45% respectively. Since then, it topped off at about 43 mil TH/s.

The following math shows that we are currently a smidge above what would be the .618 retracement of the hashrate using that obviously key level as a bottom: 43-22=21 ... 21*0.618=12.978 ... 43-12.978=30.022

Here it is visualized(right-click and "open in new tab" for full-size):

BTCUSDSHORTS and BTCUSDLONGS are going as I have been foreseeing, however the price action has yet to correspond with the movements. Unfortunately because I've been overly confident in crypto for too long and I refused to sell at losses until life and people have forced me to, I've now got to sell half my portfolio at the absolute bottom after taking about 90% losses on most of my investments from last year, while being one of the few that almost knows for a fact that we're finally heading up from here.

"Better luck next time," I guess.

Still live on twitch most of the time, by the way.

 -Tom(@MyEmpireOfShit) Twitter | Tradingview | YouTube | iDC INC's twitter | Facebook | iDC INC's Facebook 

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Interesting point of view. Love the LONGS vs SHORTS analysis. Reestemed.

Thanka for this! We keep holding. Resteemed.


One must be willing to invest only one can afford to lose when ever invest in cryptos.

Having to sell at the bottom! That's a sad thing to hear, when the market is surely going to move up 50x over the next 10 years. At least you are holding 1/2. Hopefully you can save some cash to get back in...

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