Blockchain is Dangerous Nonsense

Yeah right. Easier said than done, buddy.

 

The last bull market cycle, I cashed out the bulk on the way down in the $40k to high $30k over $700k worth (keyword is over)

This was the first time it went down from $65k mid 2021, not the last top $69k (Nov 2021)

near the top is relative to our situation(s), mate

 

Agreed, but you see, I wasn't around for the first two, just the last one. And now that I'm here, it won't go so low because of my buying!

Seriously though, I highly doubt this cycle repeats exactly the same way again. So many more people know about bitcoin, and I think its in stronger hands and more distributed. The reasons for the last crash, all the shady companies, will not repeat.

Imagine we do get a 50% drop, and people start salivating waiting for that last 25%. Maybe there is too much buying and it doesn't go below 50%. Now the rise is even faster from the later comers to the party. Maybe what drops even more is equities or real estate because people are running towards bitcoin and not away from it.

Or maybe this last cycle breaks the fiat stranglehold. Maybe it hits 1M and stabilizes. Maybe gold sells off hard and bitcoin moons from the rotation into bitcoin. Maybe governments start wanting to seize bitcoin, and the ETF get taken over and cash is given out. Then this cash goes back into bitcoin but this time you buy for self custody, and this pushes price up even higher.

When more and more people learn they can't trust the government, bitcoin will be the only show in town for wealth preservation.

Edit... oh crap.. I thought I was replying to schizo but I realized it was you John... good thing I was nice! LOL

 

exactafukinmundo…

 

If the price goes down by 50%, it will be a gift. There will be a lot of bitcoin purchases immediately, I have no doubt about that, because I will buy it myself. That's why it's not going down much.

 

What will you do if it falls 20%?

 

Awesome!

 

And you think that's a good thing? That it's not tied to anything? That it is based on nothing other than the fever of the moment with no underlying basis?

 

I don't think so. What I believe you are relying on is the stupidity of everyone running towards bitcoin.