True winners in the history of cryptocurrencies
At a time when Bitcoin is disrupting traditional paradigms and attracting a class of investors that many thought was impossible, we are facing a rather strange dynamic. As new developments, implementation, and industry growth continue, the price continues to decline.
Price is sometimes the worst indicator
It’s actually not that strange when you look at what’s happening on platforms like Twitter with Elon Musk and others. The level of manipulation, exaggeration, and FUD is almost unbelievable. If you are a trader, you will be able to notice one thing: every time BTC is about to confirm the formation of a bullish pattern, Musk and others like him, using FUD, interrupt the check, reducing the price.
The tweets are strategically designed to invalidate patterns and prevent BTC from moving to higher levels. The fair value of BTC should currently be in the $70k range. However, the 30K level provided very significant support, and it is important to remember that many investors will still view BTC as a purchase with almost 60% discount from the local high. While 64K is an all-time high, it’s also a local top that essentially qualifies the 30K level as a great buy if investors believe a rebound is more likely than a further dump.
A source: CoinMarketRate
The biggest problem that Bitcoin is currently facing is that after 30K, the only reallymeaningful support is 20K! On the positive side, a sideways move in the 50k to 60k range has actually formed a great support level in case BTC goes over 60k again, whenever that happens. Unfortunately, it has now also created a resistance that must be overcome before it can be used as support.
Why an ordinary person will never succeed in cryptocurrency
Have you ever wondered why BTC had such a negative perception by the general public in 2018 and 2019? And it wasn’t the first bear market. However, this was the first bear market that largely consisted of retail traders who had no real knowledge or historical data in the cryptocurrency space. The average person is susceptible to trends, is not a leader, and is in a desperate state of trying to impress, fit in, and conform to trends. This automatically disqualifies him from ever truly achieving any significant success in the cryptocurrency space.
If you are one of those who exclude BTC, and consider the alternatives to be the best, then you have deceived yourself as the greatest catalyst of every bull market. Without halving, you would have very little reason for your altos to go to the moon. You can have as many altcoins as you want, but you need to understand and respect the position of BTC in this market.
The average person (usually) can’t stick to any cryptocurrency commitments in a bear market, which means they can never commit to a full four-year cycle. This ultimately keeps him on the sidelines when it comes to making a profit in this market.
On the other hand, dedicated cryptocurrency enthusiasts don’t care about trends, sentiment, or coolness. They have a goal, a plan, and a strategy that cannot sway the opinions of others. These are the real winners! Today, they sit in a beach restaurant, study the data, and continue to work on their dream. Many are retired, and they are not confused by the opinion of Schill, who got up at dawn this morning to exchange his day for money. They are the ultimate losers, but they don’t see it.
As the saying goes, “a lion does not care about the opinion of sheep”. Keep building and stick to your beliefs, as this is your life, and your freedom.