Aaaaaaaaaand I told you so.
Hopefully you have been reading my blogs and taking heed to my advice. Getting into stablecoins to have money to buy on dips if you're not going short. Getting out of alts. Moving into bitcoin.
Now what's going to happen...
Because BTC broke down below $30k, the next support level is really $24k. Personally, I gathered up some BTC at the current level, and I'm gonna grab some more if that prediction to $24k is correct. If the market turns, I'll re-evaluate. But I really think we're going to $24k.
Retail has left the building. Views on my articles are way down, and this is true of influencers I follow as well. Noobs are selling and leaving. Good.
I honestly can't believe that Biswap is doing as well as it is. Out of all the projects I'm following, it is the one that's held its value best. I'm not saying get in it, but it is worth noting that I think crypto casino gaming will outperform in this market.
This is not FUD, dumdum. Once you get rid of your long bias and realize that "down" on the chart doesn't = bad, you'll do better. Markets just have an ebb and flow. They expand and contract. Up and down are just movements, not good and bad movements.
We're in a contraction phase that certainly has catalysts in the news. China shut down mining, blah blah blah. They do this every cycle. Hell, they do this every week. A lot of the miners that got stomped on are coming to the US. This will take time, so even if China's move gets rid of that problem in the long term, the short term could still be rocky.
You should look out for a stock market crash that takes down the crypto market with it. Not saying this will happen, but it might. You should also watch for gubment FUD on stablecoins. Make sure you're diversified in your stablecoins and you have a few that are small and off the radar like TUSD, UST, or miMatic. TL;DR — down moves like this don't end as quickly as you would like. So just sit back, have a coffee, and wait for prices to come to your level so you can accumulate more bitcoin.
This is also a great time to get in good projects that are getting crushed right now. When the market goes down, you don't have to look around for hidden gems or nanocap yield farms to make it. Get into the established stuff like Theta, VeChain, UTrust — stuff that actually has products that people use.
I'm going to see what kind of new fiat I can get into the crypto market. It's time to go shopping.
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