Feeling it yet?
I knew this photo of my daughter would come in handy.
Some are calling for 2025, so -
what are you going to do til then?
Three years is a very long time.
Unless you are already old.
You know how time goes faster as you age? That is because our experience of it works based on what we know, so for example, three years for my daughter who isn't quite six, is over half her age. For me how ever, it is less than 7% of mine.
In the meantime, I suggest getting a job. Not just to make ends meet with rising inflation, interest rates on debts and a whole lot of geopolitical uncertainty - though that is of course necessary - but because if you are serious about wanting to benefit big from crypto, this might be your last opportunity - or are you going to wait six years?
Let's say the bottom of BTC is going to be 20K (which was the previous high), the lowest low between was about 3500, before it moved up to 67K. That took about 3 years and perhaps if you were on the ball, you might have caught the 2020 5K dip also, which is a decent entry. But, where do you think your personal finances are going to be at that next "lowest low" - how much can you afford?
The 1 BTC price at the lowest low in the last bear, would only buy 0.175 BTC if the next is at 20K and, 20K is going to seem very cheap, isn't it? However, how much have your personal finances changed in the last 3 years since, are you earning 6x as much? Probably not on your job at least.
However, if this is the bear and you don't take the opportunity in the next three years, what are your finances going to look like at the "next, next low"? What will that low be?
While it is not impossible, I don't think we are going to be seeing 10K again, but that is already 3x the last low and how many people were willing to put 3.5K in for a full BTC? Did you? How many of those same people are now prepared to put in 20K, or even 10K?
Unlikely, huh?
So, if that ridiculous future happens and Bitcoin on the next run hits 100, 150, or 300K - are you going to benefit from it or, are you going to be in a similar position you are now, or were at the last high?
I suspect that most will be in a similar position.
It is far easier to say you are going to "buy the fucking dip" than to actually buy the fucking dip, isn't it? And when that dip really arrives, people will hesitate and find any reason not to buy. But, for those who are consistently buying, up, down, sideways or backwards - they are going to be up whenever the price is above their average and the expectation is that eventually, that price is going to be ludicrous.
Anything can happen though.
But, this is also why it is a good move to continuously buy small amounts, rather than spending large amount every now and again, because small amounts are easily absorbed, large amounts are felt and often impact on living conditions that month, or that quarter. But, either way, the money has to be available to spend and lock away for an extended period of time. An indefinite period of time.
So, what will you do in the meantime?
Learn to earn. Consolidate finances. Improve financial literacy. restructure debts. cut back on unnecessary expenses. Learn to save and, learn to spend savings on what has the potential to generate value, not dispose of it.
Get a job. Another job.
Find ways to be able to earn and put extra away and most importantly, be prepared to invest it and consistent in your actions. You might not be where you want to be today, but in three years from now, I really hope that you are a hell of a lot closer and glad that you recognized,
It wasn't that long after all.
You can stare at the charts all you want - the markets will do what the markets will do. What you do in the markets however, that is up to you.
Taraz
[ Gen1: Hive ]
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Nobody spends like a politician.
Others will call the bottom and throw taxpayer money in too. Plenty more where that came from.
I don't mind politicians buying dips - probably better than where they normally spend it :D
Met some british tourists today and they brought up crypto, one of them mentioned that he woke up today and saw he was down about $25k from when he bought BTC. It's the usual shake off of crypto newbs that get in on the highs, this time around probably a lot more people and institutions as it lasted longer, was more known and had 3 ups rather than just two or so the past bull run.
I somehow believe this bear market won't last as long nor will there be a dip as the one that occurred due to the pandemic so your chart is probably right but a bit shorter timeline.
If only it was only 25K :D
Yeah, I agree - I don't see this lasting as long, as there will be less o the markets being sold (people want highs and not losses) and, there are a lot more buyers looking for a bargain. There will be people waiting for 10K, but I am pretty confident they are going to miss out by a long way.
Were the brits all red from being in the sun too much?
Guess he had bought a whole btc at the top. They weren't that bad, but sat at the bar all day so maybe that's why.
They might be seeing enough red in the markets ;D
God i wish i had bought at 5K! :(
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I bought a few hundred worth for my birthday :)
Market is messed up I'm in deep red it's like most of us are
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It'll turn... one day :)
it will have you seen terra 50& decrease in just 24 hours that's crazy
Also, I mean besides earning all over the non-crypto space as well, I try to focus on the movements within economies such as the one of Splinterlands. Trying to convince my brain that DEC is DEC, SPS is SPS and their USD equivalent is something to not look at right now. It's a way of... Time Cost Averaging.
This is the way to look at it - crypto is crypto - it only matters when buying something they price in dollars.
Yeah, this is another case where it just is so nice that I have a full time job and crypto is something I dabble with as a "hobby". I think a lot of us have seen this dip coming for a while now. I hope it isn't the start of another winter. I don't really feel like we had a decent bull run yet.
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Winter is always just around the corner - the trick is, to
wearinvest in layers. :)Cryptotrading has replaced professional poker player in the list of the most pretend jobs.
With the markets so volatile, unless you are in the inner circle in one of the large Centralised Exchanges then it impossible even for the most seasoned trader to profit from the volatility.
Wish I was better at pretend jobs!
I don't know about impossible, but there is a lot of luck involved for sure :)
What's the crypto equivalent of counting cards? That seems like a useful skill to have!
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This is some real psychological shit. A lot of people would really feel the impact of this drop especially because it was sweet and enjoyable during the highs.
Like you said, whatever decision 8s made now would always have an impact in the long run. It'll be wiser to buy the dip but then you shouldn't dare if theres no backup, it has to be money that you'll not really feel. It's the right way to play the game.
crypto has always had this effect..the wise decision becomes quite tricky but it's pretty much straight forward...the wait for 3yrs is on da way 💪
This is the problem with attachment to money - it always gets felt. It is hard to break away from it.
Long run is not one pump or two - it is ubiquity.
Time to get my financial shit together :-)
I am getting older (just like everyone else) and indeed my years fly by faster and faster (relatively of course). I am by no means bad off, but have some serious financial problems that I need to fix.
The events of the last two years, have been sending me the signals, but I have been singing La La La whilst holding my fingers in my ears.
Time to get on it!
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I feel you! I have to do the same, even though I am better off than I thought I would be at this point. Still, too much debt, too much complication - time to simplify :)
I have been kicking things around in my mind for quite a while. Time to get off the chair and get to work. Truth is everyone wants the best yield etc., but many would benefit much more by becoming completely financially free from debt and time slavery.
Much harder to do that. Not to say defi etc. can't be a part of that plan. Just need to address the root personal finance root problems.
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Yeah, yield chasing is one thing - a little stability another :)
I think the fear is big right now. Investors might see the dip below 30k. However, I also don't believe that we will see 10k. I think your mentioning of three years might coincide with the plan of FED for hiking policy rate, I need to check. Therefore, when there is cheap money in the world again, BTC might make a rally again? We will see.
(All I said is my opinion, not a financial advise)
Two years after the last rate hike, there were highs - there is a correlation somewhere.
And yeah - it can rally :)
I still regret when I saw BTC around 3600 and failed to buy it. Deep inside I knew that it would have given me 10x and it gave many people not 10x but almost 17x profits. That is past but yes, I also think personally that 20k is what BTC is running into. That would be a great great entry for anyone who is looking to buy it.
I'm going to buy alts, and probably some ltc and bch as well. I'm preparing myself since a year and a half, let's see if that moment comes.
Very well said @tarazkp 👏👌
Litecoin (LTC) is like Hive (HIVE) in that both are criminally undervalued. Given that LTC is a direct descendant of BTC, and it has its own MAX supply of 84M LTC, this may be one way to make up for missing out on what happened with BTC a few years ago.
If you're in a position to stack LTC, I would say stack LTC. A few big buys, DCA over time, one massive buy-- that's your call.
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Yeah, I wish I had bought some more of course - but I just wasn't ready at the time. 20K looks possible - but I am hoping not, as I can't buy as much as I would like either - but with the right alts...
Good luck out there!
Good luck to you as well 🙂
Yep.
THIS is it!
Those charts honestly sum it all up.
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I suspect a lot of people are going to be waiting - and they will wait next time too.
You cannot rely on the stock market for sure. Some folks buy the dip, but what if the dip is really a falling knife? Your title reminds me of that old Righteous Brothers song You Lost That Lovin' Feeling. LOL Thanks
The title was from the song :)
It is all about resolution - will the knife hit the ground?
Only after the knife hits the ground/floor can we consider buying the dip (and even then we have to be in a position to buy the dip). It can be for BTC, HIVE, LEO, or CUB.
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I'm not staring at charts as it means nothing to me as I struggle to apply any theory to it. But I'm thinking I just sell and cut my losses as waiting - I dont know if it's worth it. Saying that, maybe I just keep my pennies in the jar for a few years and see what happens. Three years isn't that long when you are old, as you say.
Does it change your life to sell?
Nope. Good question! We asked ourselves that today..do we see it as ONLY x dollars or ALL the x dollars?
There are 2 times we should sell:
(Not financial advice!!)
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Just buying set amounts every set period of time (even if the amount you get fluctuates occasionally violently) seems so much less stressful than "buying the fucking dip" x_x
Yeah it is - a few dollars a day, a couple tenners a week - makes a difference over the space of years.
Btc is supposed be economy for some countries such as El Salvador, I think they will try their hard to lift btc prices to keep above 40k.
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I am sure they won't be able to buy enough, but many buyers are looking now.
it is time to buy stuff :)
It is always time! :D
That's the plan for now, I'm giving myself about 3 years, while keeping in mind "holding on for dear life" and "hope for the best, prepare for the worst"
been five and a half years for me - still waiting :)
Hahahaha the wait never ends I guess...
Thank you for the sober advice, when everyone seems to be drunk with the market happenings. Digging themselves I to a dipper hole. After shooting them selves in their foot
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People do what people do - just decide what you will do.
i don't know how crytpo works, but from what i have seen, is that after few years it spring up and makes people millionaire.
Good luck with that!
I don’t think we are in for another 3 year bear, the fundamentals make it unlikely. Another year at worst, there isn’t enough BTC to go around, eventually demand is going to kill the 4 year cycle. Admittedly I thought it would have died before this crash but all the NFT and de-fi hype probably scared away a lot of the smarter money for the time being. I’m sure many of the new players are looking for some sturdy ground to buy.
I’ve never thought this was going to be easy but I was hoping for a good opportunity to take out the money I need to start a company before this crash 🫤. Everything will be ok if we pump before winter but I know that’s a bit of a long shot.
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Emphasis in original
The years 2020-2022 have been excellent for doing the things you suggest. For many of us, priorities just changed, so that was a major factor in making those adjustments.
There are still 2 things we need to do: pay ourselves first, and save for a rainy day.
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