I have been patiently waiting for what we seeing now. I am planning to accumulate Ether. Here is my plan, if Ether break 2K down, I will begin buying on the break above 2K up. Same for 1,500, 1000 and etc. All in sub 1000. Would love to hear what others' plans are.
I support you on this, Red, but in this downtrend, it's difficult to know where the bottom is Fed has one goal atm which is to control inflation. That's the order from the top bosses One way to do that is to lower the wealth effect of the massive trillions of $ worth of printing They will not be stopping this massacre in all the markets like they did in 2018 when the past administration told them to "fix it" Just make sure you're happy owning Eth at whatever price you buy it and willing to hodl for a while For reference, Ethereum went from $1,400 to $80 the past bear market 3-4 years ago
Yes, this is it exactly. I also have this feeling like they want to destroy Elon Musk as well (although he is doing enough of the damage himself), and I think TSLA shares dropping down to $500 or something like this will cause many of his loans against shares to experience problems. I have this thought that when going at it alone, the guys who want to do damage can't do much if the wind isn't at their back. But now that the tide has changed and the market is dropping from inflation and interest rate rises, it will be much easier to go after TSLA and also Saylor. Its almost funny to realize that everyone out there knows the pain point of these guys and their shares. Back to bitcoin, perhaps the complete washout of the financial system is what is needed before major adoption kicks in. I always assumed that it was going to be higher and higher prices that made the switch, but perhaps the adoption comes from a deflationary scenario, after bitcoin hits some crazy low of 10k or lower. Once most asset values are wiped out, then perhaps people will look for the one thing this is truly capped in terms of supply. In the backdrop will of course also be a grab for control by the officials, so it will be easier for most people to see the permission less nature of bitcoin. The shitty thing is that at these lower and lower prices, it would have been easier to accumulate almost one coin!!
It's generally a mistake to rush back in after a major bubble peak. Finding a low doesn't mean a new bull market will kick off anytime soon, and opportunity costs can be huge. If you started buying the Nasdaq in 2001-02 it was pretty much dead money for a decade. Ditto for buying gold or silver in the early 1980s - except it took twenty years for the new bull to start, and in the meantime you missed out on one of the greatest stock-market runs in history. The big problem with crypto is that this bear market is likely to see major blowups across the ecosystem. Risk aversion by those left standing will skyrocket, and busted narratives will be everywhere you look. As crypto's value is close to 100% narrative, unlike houses or overvalued-yet-profitable tech stocks, the legacy of this bust is likely to be a major headwind for years, and possibly decades to come.
Definitely long term. Plus I am only putting like 10% of my cash into it. I have no idea where bottom is so that is why Sub 1K I feel comfortable. Also, I will only buy on the bounce once levels are broken not on the way down when level is broken.
I expect to see TESLA sub 100, and even that these levels it will be one of the most valued car companies in the world. Current price is pure lunacy based on any metric.
Reminds me of the saying - if you owe the banks $1million and can't pay, that's your problem. If you owe the banks $10 billion and can't pay, that's THEIR problem. he he.