What is your take on the altcoin massacre, weak bitcoin and volatile macro backdrop?

[OKboomer]

You speak as if it⁠ pumped and dumped twice erasing gains, whereas each cycle it pumped much higher than previous⁤ cycle and never dumped much below previous cycle's top. Everyone holding over at least 1⁣ cycle was always in profit, even if they bought the very top.
Therefore, this argument⁢ of yours does not apply.

 

[padres123]

Yes, of course "bubble". But with this bubble you could earn︆ money really well in 10 years.
Just like in the beginning of 2000 it was︇ the same with tech stocks and the "Dot_com" bubble...

 

[padres123]

etc... 🙂

 

[OKboomer]

Another nasty weekly close....

 

[cryptofriendly]

Give it one more week of‌ downtrend, it's just the mid cycle low upcoming on March 3rd.
My crystal ball predicts‍ new highs end of March.

Patience. Go out, pick up some chicks or go hiking.⁠ Relax.

 

[OKboomer]

I have been⁠ through several cycles and bear markets. So not panicking at a drawdown. But this feels⁤ like a full-blown bearmarket, rather than a correction at this stage.

A bunch of bullish⁣ news also don't move the needle either.

 

[5K1PP3R]

well FWIW, chatGPT:

 

[joerog]

As I said we are due .. Didnt know it was that soon SMH

 

[EliasIT]

I count on⁠ your statement 😀

Do you have anything that could illustrate your claim in pictures og graphs⁤ or something ? Right now there is a free fall on all markets including crypto⁣ 🙁

 

[pieceofmind]

Forget the price, Bitcoin and Ethereum were invented to solve a problem that hasn’t been‌ fully realized yet.

We know the govt economies don’t add up. Once it falls, that’s‍ when the purpose of Bitcoin will shine like a blinding light. Price will follow. But⁠ let’s not put the carriage before the horse. We knew patience is what it takes⁤ because we know the truth and where it leads.

Ethereum solves the centralized internet problem,⁣ nothing beats it as far as security and decentralization. Even govts and real estate wouldnt⁢ trust Solana to tokenize their 100 trillion+ assets. Or when we want to migrate the︀ Internet DNS or SSL to Ethereum. Then its price will follow. The perfect hammer for︁ the perfect nail.

Maybe it’s the bull in me, but the problems that Bitcoin and︂ Ethereum solve are to overcome the inevitable dystopian future. Almost everything else in the crypto︃ world is super short sighted and noise.

 

[OKboomer]

I was an eth bull since day 0, but i believe the complacency of the‌ past couple of years has eroded its lead

 

[cryptofriendly]

But I feel with you. Started getting⁠ margin calls yesterday myself :-(

 

[EliasIT]

Thank you very good illustrating your claim and helpful for someone not that PRO into‌ crypto.

 

[EliasIT]

very helpful, shows cycle, thank you.

 

[Frankie]

As always, Crypto moves in cycles.
If you can't control your FOMO and buy when‌ everybody is frenzied, you lose.
If you can buy counter-cycle and wait for everybody to‍ be max bearish and liquidated, you make good money.

Tip: Find a loser friend who⁠ always buys at the top.
Whenever he calls you to ask about buying Crypto, sell⁤ everything.
Whenever you are thinking about buying, ask him if he is interested.
If he⁣ says "f**k Crypto", it's time to buy.

 

[ShillGates]

right so, i dont believe in crypto its all bs. so there is that -‌ am sure there will be the believers that will reply to this post - but‍ pull it all back, there is no need for it other than a medium of⁠ exchange. ITs only a blockchain that records info and nothing more. No banks will want⁤ to use xrp for example - as they will want to come up with their⁣ own blockchain that they control (through a member organisation like swift for example) which will⁢ remain private

In any case the tokens in the crypto market are all iou's nothing︀ else. Now coming to that - i work hard to earn a few dollars and︁ buy crypto with it. Nothing wrong with that - but the problem is my hard︂ earned dollar is not the same as an iou tether issued by a vague bvi︃ based company which can just print them out of thin air.

Each dollar inputted in︄ the crypto system has not been created the same so to speak.

SO tether for︅ sure is worse than a central bank - as there is printing of money -︆ but with no oversight whatsoever.

The only target of tether is two fold - get︇ as much cash as possible that they invest in the "real financial system" (diabolical?) and︈ then issue iou's. Each interest payment they receive can be compounded into more crypto. and︉ that can be done daily.

THese big players also need to extract the real dollars︊ out of the system - ie the crypto they didnt print. ie my dollar -︋ which is why a sudden sell off happens in order to liquidate and create money︌ for tether and other big players

i like to say f**k crypto

 

[OKboomer]

Overlay bitcoin or ether‌ prices this cycle with prior cycles

 

[cryptofriendly]

ETH dropped out from the leadership because of many reasons, so I won't comment on‍ it.

Though every cycle is a little different, and early cycles behaved more exponential, BTC⁠ behaved very much according to the last cycle until a month ago or so. Even⁤ if we take the worst cycle for comparsion, and take the fractal from the prior⁣ cycle (green) and compress it a little to put in relation with the current chart,⁢ it would signal that we are are the cycle bottom right now, and an early︀ top might be incoming in 1 or 2 months. The coming week will show us︁ the truth.

 

[void]

I just came across this screenshot - hard to say how legit it is but‌ somebody seems to be certain

 

[void]

allegedly an‍ insider bet related to the event on March 7th.... even if, 2% market move seems⁠ rather reckless with 5 days to go 😀