Actually I was ready to buy but I decided against it at the last moment. I didn't see a clear bounce that gave me hope and consider 3600-3700 to be weak support anyway (and we did push through).
So now I am waiting for the 3000-3200 range indeed.
I did buy a small amount at 4200 too though, DCA'ing down.
I am also keeping in mind that we may drop significantly below 3000 at some point too, if only for a few minutes. The final dump..sorta. Will still take a while though.. I think too many investors from 2017 still have too much hope. We'll be seeing some upward momentum first... to give those people hope and start buying back in - only to crash it back down and make them lose their money and their final bits of faith.
I told you before, things weren't nearly bloody and depressed enough before. And I feel we're still not there.. almost, but not quite. And there's so many people hoping for 3K bitcoin that I am starting to feel more and more like it's going to drop way below it to shake those people out too. By the end of it all there will be nothign but hodlers of last resort, and people who've lost so much that selling doesn't even make sense anymore (this is what happened to me last bullrun in 2013-2014) and as a result they hodl. Literally everybody who came in to crypto for the money will then be out of the market, and only those who understand and believe in it will remain (and some people 'trapped' in it too)
Fair enough, a little risky, but probably a good move on your part.
I'm contemplating cashing in a few shares to buy crypto (fiat reserves are bone dry at the moment), but since I only really have gold and platinum (which are looking positive) worth selling at the moment, I don't really want to do that either. A nasty catch-22 for me :( I may just dump the platinum, but I haven't decided yet, and time is (possibly) short.
Don't be in a rush... Capitulation is still not done, and afterwards we get Depression which is less bloody but in many ways worse than capitulation because it is very hard to still believe. Depression lasts many months before it's over. And that means we will be hovering slightly above the ultimate bottom for a few months.
Also wonder if you REALLY want to catch the absolute bottom. Look at last bubble, and consider if it really makes a difference to get BTC at $160 or at $220 in the grand scheme of things. Then consider the added risk of trying to nail the bottom, against the added security of waiting it out for some kind of plateau to form. You might not get BTC at $2000 or whatever if we drop to there, but getting it at $3000 will be close enough IMO
Actually I was ready to buy but I decided against it at the last moment. I didn't see a clear bounce that gave me hope and consider 3600-3700 to be weak support anyway (and we did push through).
So now I am waiting for the 3000-3200 range indeed.
I did buy a small amount at 4200 too though, DCA'ing down.
I am also keeping in mind that we may drop significantly below 3000 at some point too, if only for a few minutes. The final dump..sorta. Will still take a while though.. I think too many investors from 2017 still have too much hope. We'll be seeing some upward momentum first... to give those people hope and start buying back in - only to crash it back down and make them lose their money and their final bits of faith.
I told you before, things weren't nearly bloody and depressed enough before. And I feel we're still not there.. almost, but not quite. And there's so many people hoping for 3K bitcoin that I am starting to feel more and more like it's going to drop way below it to shake those people out too. By the end of it all there will be nothign but hodlers of last resort, and people who've lost so much that selling doesn't even make sense anymore (this is what happened to me last bullrun in 2013-2014) and as a result they hodl. Literally everybody who came in to crypto for the money will then be out of the market, and only those who understand and believe in it will remain (and some people 'trapped' in it too)
Fair enough, a little risky, but probably a good move on your part.
I'm contemplating cashing in a few shares to buy crypto (fiat reserves are bone dry at the moment), but since I only really have gold and platinum (which are looking positive) worth selling at the moment, I don't really want to do that either. A nasty catch-22 for me :( I may just dump the platinum, but I haven't decided yet, and time is (possibly) short.
Don't be in a rush... Capitulation is still not done, and afterwards we get Depression which is less bloody but in many ways worse than capitulation because it is very hard to still believe. Depression lasts many months before it's over. And that means we will be hovering slightly above the ultimate bottom for a few months.
Also wonder if you REALLY want to catch the absolute bottom. Look at last bubble, and consider if it really makes a difference to get BTC at $160 or at $220 in the grand scheme of things. Then consider the added risk of trying to nail the bottom, against the added security of waiting it out for some kind of plateau to form. You might not get BTC at $2000 or whatever if we drop to there, but getting it at $3000 will be close enough IMO
All true. Thanks