Really? You think the bulls are done with this market? I hope you don't make these same horrible assumptions when you trade stocks
The fact is that given the change in Fed posture, liquidity is contracting and will continue to do so for at least the rest of the year. Cryptos had a hell of a headfake rally to the secondary peak in Nov causing many bagholders to FOMO in. It's clear enough from reading ET and social media that these are generally stubbornly sticking to their positions, or (like this site's owner) even averaging down - no sign yet of panic, capitulation, or diamond hands sentiment getting crushed. We're back to basically the same place we were in the summer, with a much worse fundamental backdrop and many secondary coins already in brutal bear markets. If and when that 27k-30k zone gives way on BTC, we're going to find out just how resilient the crypto ecosystem really is. Once MSTR gets pushed into bankruptcy, El Salvador and TSLA have dumped in panic, etc it may be time to start thinking about a bottom.
a Head and Shoulders top This is effectively trying to time the market by analyzing tea-leaves. If this worked, I'd like to see how many billions you have in your bank account.
So sumtim only works if you make billions, huh? Note I don't use H&S patterns or flags/pennants/wedges/triangles/cup&handle yada yada. But plenty do so there must be sumtim there.
And the criminals continue to steal crypto's from innocent people who were so stupid to invest in crypto's. The fact that their money is stolen proofs that they had no idea what crypto's are. They are just blindend by greed and consequently lost their entire investment. LADSON CAPITAL copied a letter from another "trader" LEDGER, and send it to all their "clients".
Your logic is something else. Meanwhile, the criminals continue to steal cars from innocent people who are so stupid to buy cars. and they continue to steal cash from innocent people who are so stupid to have cash on hand. and they continue to steal jewelry from the stupid people that purchased houses and run jewelry stores. and they continue to run ponzi scams to steal stocks and every other financial instrument owned by the stupid people that own those things. and they continue to steal data from the stupid people that own computers. Theft is not exclusive to cryptos and ownership of assets is not stupid, nor does it make people stupid.
Why would people have a digital wallet with this sort of constant hacking threat? Can't every "ledger" or private key be stored on a physical, cold wallet? Surely that is the most secure. Are there some cryptos/keys/whatever that cannot be stored physically?
Cryptos are always digital Paper wallets are physical but you can't use them until you import to digital format Ledgers and hardware wallets are just "secure mini computers" versus a Windows computer I've never owned or used a ledger, nano and similar hardware wallet
You put a short position on bitcoin, yet? I think it's very possible and you can make a lot of profits if you're short