Two posts in quick succession but I thought this was important. Of course the 1BTC Project is about stacking satoshis with the least amount of fiat currency possible. Sometimes you need to capitalize on the situation. We have been grinding done for a month. It is time to spend a little money.
I may be getting aggressive in my old age but I bought more dip. If it dips another 10% I will buy $200 CAD worth, with another $200 CAD of dry powder waiting it this dip gets even dippier.
I will be using a classic day trader strategy for these buys. If I am up 5-10% by the end of next week I will pull out my principle, feel very confident about my trading strategy, and enjoy my easily gained Sats. If I am not up in the short term I will claim that I have always been in it for the long run and hold the bag indefinitely. This is the heart of every successful day trading strategy.
This dip hurts especially badly because we kissed the all time high leading up to the Halvening. Everyone reading this was hoping the Bitcoin spot price would break out and go double jetpack Elon Musk sicko mode, but here we are.
So here is a factual summary of Bitcoin's pullbacks during halving cycles:
(Also know as pure cope for bagholders)
Bitcoin Pullbacks During Halving Cycles:
- Bitcoin typically experiences multiple significant pullbacks even during bullish halving cycles.
- The average pullback during bull markets is around 27%.
- Only declines of 20% or more are generally considered significant pullbacks.
2013 Bull Market
- 12 pullbacks greater than 20%
- Average pullback: 34%
- Median pullback: 28%
2015-2017 Bull Market
- 17 pullbacks greater than 20%
- Average pullback: 31%
General Observations:
- These corrections occur even as Bitcoin makes overall upward progress.
- Pullbacks are a normal part of Bitcoin's price action during halving cycles.
- Significant volatility is common, even during overall upward trends.
-A consolidation period after halving is normal. Miners typically sell to bitcoin to finance actives once new halving cycle is entered.
-Supply Demand dynamics have not changed.
-expect most of the performance to be concentrated is a small number of days.
-Very hard to trade during Halving cycles.
-Backtest show hold through volatility of halving cycle is the best strategy.
-Halving cycle ends mid to late 2025.
-If the volatility bothers you the Crypto is not an asset class for you.
-Long term holders will continue to use volatility to accumulate.
-IMHO the action we are experiencing is to shake out the leverage longs in this asset class.
-Am I worried about the recent market action ? No! Do I watch its price action on a daily basis no.
-The Halving cycle has corrections, it’s normal natural and healthy. Bitcoin is in the early stages of becoming a traditional asset class.
-if you are worried about the volatility then don’t buy it.
-don’t use leverage.
-let’s see where the price of Bitcoin is in a year.
-recall it was this time last year I started banging pots and pans about the halving cycle.
-notice it's become a political issue.
- those that bought at $74k with leverage are upset. I get it .. but to be clear this is a normal cycle, expect Wall St has got on side.
If you don't see pullbacks as opportunities. Then this asset class is not for you. You have not done enough research.
I think this pullback is a normal occurrence.
Keep calm and keep stacking.
Referral links if you want to start earning with me:
ZBD Zebedee
Referral code: UWFARN
Rollercoin
https://rollercoin.com/?r=lnkxtxrq
KuCoin - 15 USDT for new accounts
Pay Pal - A bridge between online and offline money
Cambly - Teach English Online On Your Time
https://www.cambly.com/invite/XFE7JUVA?st=080823&sc=4
Receipt Hog - Monetize your receipts
https://app.receipthog.com/r/zamp3695
Referral code: zamp3695
Invitation - A depository for referral codes.
https://invt.co/?invite=BRdUxpVAX
FireFaucet - Crypto Faucet
https://firefaucet.win/ref/1102246?s=publish0x
KuCoin - Crypto Trading and Lending Platform
https://www.kucoin.com/ucenter/signup?rcode=rM3Y31U
Binance - Where I do my staking.
https://www.binance.com/en/activity/referral-entry/CPA?fromActivityPage=true&ref=CPA_00IM6PD2BT
COINapp - Earn Crypto while on the go.
Cointiply - Crypro Faucet
Publish0x - You know what it is!
https://www.publish0x.com/?a=xkaz6G87aJ
SWEAT Coin - Earn Crypto While on the move.
Pi Mining App - A daily crypto 'miner'
Coinbase - A Crypto trading platfrom
https://coinbase.com/join/hutchi_am?src=referral-link
Netcoins
https://netcoins.app/r?ac=M8P892
Shake Pay
Keep building!
As always you can join the conversation on Twitter @1BTCproject
