I've never traded leverage on bitcoin and crypto assets until 6-8 months ago. As some i.e. Raoul Pal have pointed out re: all the the blowups on this past cycle, 3AC, Alameda, Celsius, et al, why trade leverage on an 80 vol asset? A call option with no Theta Bitcoin and crypto assets are only exciting during bull market, they are the crappiest markets during the bear markets, we're talking years of chop chop, downtrend, if you don't have the conviction (or belief in the cult), you will give up. Many have. Even the biggest OG's, Roger Ver is an example. I'm still here Not come back? That's heresy. Once you believe what Bitcoin is, you already know it's worth $1M in today's dollars within 10 years and $10M within 20 years... You're just waiting for the price to catch up
10 years ago, not many YouTube channels dedicated to bitcoin... But anyone that was looking for bitcoin videos, must have run into Mad Bitcoins... I'd like to share my favorite video from the channel
Watch out for some black swans. I'm finding myself agreeing too much with O'Leary on a number of topics for once; it's actually starting to get creepy. This makes me feel like there is something very bad about to happen any second...
Now that the equity market is closed for the weekend, BTC is reversing course and tanking pretty hard. I think there's a good chance we retest 25K over the weekend. Buckle up and brace yourself.
Yeah, there will be some quick bounce at 26,500 area, although I think there's a real possibility that it can slip down to 25,300 or thereabout. I'll definitely be reversing back to long then.
So watcha think? 26.5K touched today, followed by a quick bounce (as expected). Think we'll be going down to 25K by tomorrow or the next day?