I Think Bitcoin is Heading Into Another Big Bubble
The market insiders' business model is to create fear of missing out, or FOMO, and then panic in a way so that it is at once both cyclic yet appears random.
FOMO is when demand outpaces the "fair value" of an asset. It's "overvalued". Price goes up. Warehouse gets emptied out at "retail" prices during the distribution phase.
That selling also creates PANIC which makes retail traders sell, supply increases, and demand falls. The price falls. It's "undervalued". Warehouse gets filled at "wholesale" prices.
How do you get someone to buy something that's overvalued? Trick them to make them think they're going to get rich quick. That THEY too can sell to the greater fool!
But alas, they ARE the greater fool.
All that FOMO and Hopium of 2017 had so much residual energy that market insiders sold into that demand for a year as demand tapered off and traders left the market, dejected that they lost money. They released their assets where the market insiders gobble them up cheaply and fill their warehouse once again.
Then they figured why not have a good old-fashioned bear market echo bubble to wreak havoc on indicators and moving averages to keep traders guessing. But all it did was make very obvious one important fact: Bitcoin is squeezing into a pattern we see in Bitcoin all the time on shorter time-frames: The Symmetrical Triangle, Pennant, Bull Flag, whatever you want to call it, Bitcoin is coiled up inside of a very, very large one.
Traders have their "number" where they are willing to jump back into the market. They will give Bitcoin the emotional FOMO energy it needs to break its All Time High and rocket past the moon toward Mars. I hope you're ready to onboard 100 Million people into crypto, and take their money!
Peace, Love, & Crypto,
B166ER
FOMO is when demand outpaces the "fair value" of an asset. It's "overvalued". Price goes up. Warehouse gets emptied out at "retail" prices during the distribution phase.
That selling also creates PANIC which makes retail traders sell, supply increases, and demand falls. The price falls. It's "undervalued". Warehouse gets filled at "wholesale" prices.
How do you get someone to buy something that's overvalued? Trick them to make them think they're going to get rich quick. That THEY too can sell to the greater fool!
But alas, they ARE the greater fool.
All that FOMO and Hopium of 2017 had so much residual energy that market insiders sold into that demand for a year as demand tapered off and traders left the market, dejected that they lost money. They released their assets where the market insiders gobble them up cheaply and fill their warehouse once again.
Then they figured why not have a good old-fashioned bear market echo bubble to wreak havoc on indicators and moving averages to keep traders guessing. But all it did was make very obvious one important fact: Bitcoin is squeezing into a pattern we see in Bitcoin all the time on shorter time-frames: The Symmetrical Triangle, Pennant, Bull Flag, whatever you want to call it, Bitcoin is coiled up inside of a very, very large one.
Traders have their "number" where they are willing to jump back into the market. They will give Bitcoin the emotional FOMO energy it needs to break its All Time High and rocket past the moon toward Mars. I hope you're ready to onboard 100 Million people into crypto, and take their money!
Peace, Love, & Crypto,
B166ER
Comment:
I knew 10.5K was gonna see some selling but I think the Beer Virus panic in all of the markets walloped Bitcoin as investors needed to sell to cover traditional market losses. As long as the selloff doesn't continue, Bitcoin should recover quite nicely. If Bitcoin falls below 8K, I will likely leave the market.
Comment:
I did leave the market. And came back! Bitcoin is now at 10.5K. All of my ideas are still valid...just pushed back due to COVID.
I'm AMAZED at how Bitcoin came back. Hopefully Bitcoin can become disengaged and fully uncorrelated from macro traditional markets at some point.
I'm AMAZED at how Bitcoin came back. Hopefully Bitcoin can become disengaged and fully uncorrelated from macro traditional markets at some point.
Comment:
Bitcoin has now broken 60k!
"You didn't come here to make a choice, you've already made it. You're here to try to understand why you made it."
―The Oracle
―The Oracle
