So Much Doom And Gloom

in #blog2 years ago


Remember how Bitcoin was a hedge against inflation? Doesn't look like it anymore as it moves in tandem with risk assets. The thing is - for every seller, there is a buyer. So someone is buying up the coins that people are dumping and given the low liquidity, you might be able to get filled at very cheap prices.

I bought some BTC at 54k and 38k. Who knows how low we will go but I will put in some more bids at 20k and hopefully get filled for the long term. We're below Tesla and Elon's buying price.

If the universe exists solely for Elon then this dip should be temporary. Just like with the last selloff, we went down 80% and I wouldn't be surprised if we make a similar dip this time around. Anyone who bought on leverage is about to be wrecked but if you HODL, I think you should be fine. Profit and Loss is only determined when you actually buy and sell. Otherwise it is just noise.

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