So let´s see.....what happened?
It all started last week...on a Sunday, Bloodbath Sunday (18 April). And those silly little humans need a reason for everything....so people started explaining what happened:
- Turkey’s central bank banned the use of cryptocurrencies and crypto assets for purchases, citing the risks of possible “irreparable” losses.
- Blackout in China’s Xinjiang region, which reportedly powers a lot of bitcoin mining, for the selloff.
- Unsubstantiated reports that the US Treasury could be planning a crackdown on money laundering carried out through digital assets.
Well the outage was solved, Turkey was bankrupt already and the real reports never surfaced......
Yeah, yeah yeah....we all want to understand and crypotsplain the current situation. Now they are even blaming last nights dip on poor Old Biden.
Joe Biden's tax move dumped Bitcoin, Ripple, Ethereum, Dogecoin and altcoins!
Because of rumors that US President Joe Biden is interested in shortening US crypto regulations. He may be willing to submit a proposal to Congress for a tax increase. Come on, the guy is probably heavy invested in SAFEMOON like every other senile old fool.
It´s just like those screaming headlines from those Youtube video´s
There are a million observations and everyone is an expert, but you know the best source of knowledge is the past. So what happened in the past.....?
Well exactly the same happened....and it does not matter which butterfly effect caused it. What matters is what happened afterwards.
Now Combine that with the surges.
I mean we can not change what happens and we can´t even proof what caused it....or if you can, nobody believes you. Simply because other idiots are screaming louder than you do.
So basically explaining after the facts has very little Add Value. But looking at these charts might give some guidance.
So where are we now?
Based on the comparison I would say around Nov 13th 2017
How long does a dip like today's dip normally takes?
So taking all high level historical views into consideration.....we still know..Shit...!
But what we can say is that this looks like something we´ve seen before . And that in the past it took 2-3 weeks in general to recover. Of which the first week is the hardest....so the best time to buy.
Life is more fun if you keep it simple and post make meme´s not war
My advice is do not over-complicate stuff. Do not explain what you can´t explain. Just make sure you have enough funds and Doritos to buy and bite through the dip.
And in times like these Guacamole is recommended.
And just keep smiling because Trading Crypto is like a box of Chocolate: