"One year ago today, Bitcoin reached an all-time high of $69,044" and it is now bearly holding $16,000, and by the strength the crypto market is showing right now, I see it highly possible that we will see a $12,000-$14,000 BTC relatively soon.
BTC has already dipped as low as $15,500 today, thus touching $12,000 which was called a potential bottom by some of you around here, myself excluded, for a long time now, is just a stretch away. What's a $3,000 wick down for BTC at this level?
...
Well, what was a $3,000 wick-up for BTC back in 2021? It was proof of euphoria, greed, and a bull market vibe. Now all of these are gone and we're in the middle of a bear market. I thought we were out, but we're not. I was wrong. What can I do now?
At least I didn't have funds on FTX like BlackRock, Ontario Pension Fund, Sequoia, Paradigm, Tiger Global, SoftBank, Circle, Ribbit, Alan Howard, Multicoin, VanEck, Temasek, and others(cough Galaxy Digital). Man, Mike Novogratz really got rekt in the past half a year or so.
He screwed it hard with LUNA and now with FTX. You see, even these filthy bastards who are playing with millions and billions in AUM are sometimes hitting a dead nail. It's not the end of the world, though. On the contrary, whoever has the funds to buy crypto right now, is able to scoop some cheap coins thanks to the FTX saga.
Who's paying the FTX victims now?
Well,
Look, all I’m saying is…
If SBF doesn’t go to jail…
He is clearly a deep-state, Democrat operative sent to destroy the crypto industry, make the masses poorer and more reliant on the government all while setting the stage for central bank digital currencies / regulation.
This man, @DiscountGosling on twitter is right. The man who called Bitcoin inefficient and environmentally unfriendly, Sam Bankman "Fried" himself should pay. The people who lost money in this shit are guilty for their ignorance and greed as well, but this fucker has to pay too.
But, if he's really the man of the establishment he won't be paying shit. It's always the plebes that are doing that. So, what do we got to do? H.T.L...
Hold the lines. I guess this is not your first bear market, dear reader, and it probably won't the last one either, I know you feel like shit right now, especially if you're living off crypto like myself and don't have more cash to put in the game, but it's all gonna pass.
It's part of the routine, one that's been around for years now. It doesn't matter the conflict/event that causes illusions to break, the idea is that cycles have their own math and cyclicity. BTC had to correct close to 80% of its ATH and that's what it did. Time to move on now.
I don't want to make any statements anymore regarding the market, but what if this was the bottom? What if this was the needed final shakeout for the market to mark the absolute bottom? I can't answer any of those questions, but let's not forget, Bitcoin died a thousand deaths and it is still alive.
Does it look dead enough for you right now?
Thanks for your attention,
Adrian
