Bitcoin, you can call me Al
If Bitcoin was a song or song writer
This is the end, my only friend – the end
Quote: Jim Morrison, “The End”
Maybe you bought Bitcoin when it was approaching the 20k, just took a mortgage on your house, sold your 105′ curved plasma TV, your kids, your liver and your stamp collection to hop on the Bitcoin frenzy – and now? At first, you felt as a smart investor, seeing yourself as one that takes the signs of time before it is too late.
Even worse if you bragged about your first whole bitcoin at the cocktail party full of nay-sayers. Now they stand there with a Martini in one hand, the other one used to point their old Mr. Burns-a-like finger at you and you can hear that two words, that drive you crazy: “told ya.”
“It's a bubble. It's a bubble. Oh my, it's a goddamn bubble”
Quote: Hysterical investor
“Whenever there is blood in the street. We buy it.”
Quote: too-cool-to-show-that-he-is-scared investor
Yes, this is the reason, why everyone and his farting dog told you not to invest money you can't afford to lose. It is not primarily because of the chance to go zero, but especially because of the chance, that if you can't afford to lose it, the chances are high that your emotions kick in, helping you to decide for the probably wrong thing. Yes, basically it is the same emotion like buying the top in FOMOde. And now this emotion might fool you again, selling the bottom.
For whatever reason BTC is dropping like it's investors jaws, it doesn't matter. The only truth you can find within these bloody days is: We, the f#ck, don't know the reasons. No technical analyst will show you the bottom. No fundamentals will give you the reason. Aliens told Cliff High that Bitcoin will hit 64k in April. Another crypto YouTuber called the bottom at 3.5K.
You can decide what you want to believe, but it has no impact on the outcome, it instead indicates merely if you are more of an optimist or pessimist. See, everyone tries to put up a catchy clickbait title right now, and wants to be that guy who predicted the bottom, predicted the phenomenal upward move coming next. It is a 50/50 gamble to be able to beat on your chest and dance on the wall if you have chosen the right thing, so why don't take a chance?
The hard truth is that there is nothing to predict the future. The only thing you can do right now is to drink your milk with water to save some money and watch what happens.
But, but, but, I was told that…
“…it is the Chinese New Year, everyone is cashing out to purchase gifts!!!”
Yes, sure. Chinese billionaire investors cashing out to pay for a diamond-encrusted Bobby Car for the kids.
“…it is facebook! They prohibited Crypto ads!”
So are ads showing penises. Did all the penises in the world drop? Based on personal observations, we doubt that.
“…it is the tactical spread of FUD and fake news!!! Media gets paid to publish bad news about Bitcoin. Wealth is only for the rich, and they want to stay us on the ground.”
Possible, but also possible you have your tinfoil hat on. It is true, bankers love to game with the small man's money. But where is the FUD for the stock markets, which are dropping as well right now?
This is the question nobody wants to answer, maybe because the answer might not deliver the wanted optimistic outlook for the upcoming months. The stock market as well, entered bubble territory (for a much longer timeframe than cryptos). Of course, the stock market is very different to cryptos, but the price-driving force with both corrections is the same: the current overall sentiment is changing and the more pumped it became, the more their price action relied on the sentiment.
It's the end of the world as we know it
Quote: REM, “It's the end of the world”
See yourself, what do the markets and your money sitting in, do with your sentiment? Dreaming of price explosions after the correction? Seeing yourself with a copper can walk through the streets washing car windows?
Having money in cryptos right now does something with you. Your emotions are tricked: one day your crypto holdings have the power to let you dream to sit in your very own lambo in a few days, on the other day they have the power to make you shit your pants. One has to accept there will be no news outlet, no technical analyst, no leaked document, no smart “connecting-the-dots” help you in this situation. Sit down, watch the white wall and get your facts straight:
- Did I invest money, I didn't have and am I suffering now from perma-sweaty palms due to that? Well, you have been told. You took the risk anyway. What would be the following action to do now?
- Am I clear that if I want high returns, I have to bear with high losses as well?
- Do I really believe in blockchain technology in the frame of a currency usage?
- Do I consider both ways of my investment? The option of going up again, plus the option it can stay down now?
These are the days of miracle and wonder
This is the long distance call
The way the camera follows us in slo-mo
The way we look to us all
The way we look to a distant constellation
That's dying in a corner of the sky
These are the days of miracle and wonder
And don't cry baby, don't cry
Quote: Paul Simon, Boy in the bubble
So what is the bottom line of this pamphlet? Shall I sit on my hands or shall I get the f#ck outta here? Life could be worse, you could be Bitcoin Ben, he has no clue where price is going. We can't tell you that, that is it. You are entirely alone with your decision, and your only choice is to decide it on your own. You will find countless opinions, but consider them to be in the same boat like you. Most of them are also victims of their emotions, which leads them to wishful thinking or to pessimism. We don't have an answer, nor a recommendation. Bitcoin can just call us Al. Or Bob.