Lines that Scare Bitcoin Traders
I can draw lines pretty well, I went to art school after all. And as a human being, I can recognize patterns and assign them - arbitrary or not - to any situation to suit my preference to how I want to perceive an outcome of an event, even if that pattern is truly meaningless, in the end.
Here we have another line put under the big pattern that makes our current position in the patter look much, much worse than we feel like it is right now. Everyone says the bull market is back on - but for how long? Conditions that are overbought on par with the crash of 2017... are ignored, and an excuse is made that often assets appear overbought after a long time spent in a bear market.
If we followed the fad of comparing this cycle to an earlier 2013 - 2014 crash cycle, but used the monthly chart where details are ironed out, we could easily surmise that with the increase of capital, the market is logically moving slower to highs and lows than it did in 2014, and the protracted bear market we're experiencing how is only just getting started - we have about another 50% lower to go than the 2018-2019 low of ~$3100.
I'm not saying don't buy it - go ahead! I've got some and I'm not selling. In the meantime I've got *gasp!* a J-O-B! If the price goes lower I'll buy it then. If it goes up - happy days!
My point is: as human beings, our capacity to predict random future events, such as markets and especially Bitcoin, are no better than priests and shamans trying to predict what god is like, or an astrophysicist trying to predict where the first signs of non-terrestrial life will be. Everyone is wrong, and sometimes, we're right. Just don't throw every penny at it and you'll be fine.
Here we have another line put under the big pattern that makes our current position in the patter look much, much worse than we feel like it is right now. Everyone says the bull market is back on - but for how long? Conditions that are overbought on par with the crash of 2017... are ignored, and an excuse is made that often assets appear overbought after a long time spent in a bear market.
If we followed the fad of comparing this cycle to an earlier 2013 - 2014 crash cycle, but used the monthly chart where details are ironed out, we could easily surmise that with the increase of capital, the market is logically moving slower to highs and lows than it did in 2014, and the protracted bear market we're experiencing how is only just getting started - we have about another 50% lower to go than the 2018-2019 low of ~$3100.
I'm not saying don't buy it - go ahead! I've got some and I'm not selling. In the meantime I've got *gasp!* a J-O-B! If the price goes lower I'll buy it then. If it goes up - happy days!
My point is: as human beings, our capacity to predict random future events, such as markets and especially Bitcoin, are no better than priests and shamans trying to predict what god is like, or an astrophysicist trying to predict where the first signs of non-terrestrial life will be. Everyone is wrong, and sometimes, we're right. Just don't throw every penny at it and you'll be fine.
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