Bitcoin will soar. It has been so bullish that it broke out of its long term channel, resulting in a nice pullback during the holidays -so we were grounded during Christmas :) -.
My concern is; will it soar to fast again in the near future? It is so bullish, with lots of young fighters in the front lines. All those new people entering the crypto space causing an enormous upward energy. The crypto will be in an bullmarket for at least the coming 5 years. You never short a bullmarket, unless you want to be a pig. Bulls make money, bears make money, pigs get slaughtered.
My sentiment here is that we don’t want to repeat mistakes or we’ll get the same results. That may be good, depending on your faith in the technology and skill in the market.
Meaning: we don’t want it to skyrocket too fast like we saw in December. Parabolic rise and the crash to match. It’s not healthy. I’d rather see slow and steady gains than gain, crash. Gain, crash. You make no headway if you’re truly long (hodler) in that kind of market, and it brings negativity when we see that kind of volatility. People will lose faith in using crypto for anything other than day trading.
Volatility and fast spikes/crashes are fantastic if you’re day trading and you keep taking long/short positions as you see the market go- you can make a killing off of 30% swings. But to me, that cheapens and negates the underlying utility and intention. This wasn’t meant to be a get rich quick scheme. It was meant to change the world for the better. Greed can ruin things.
But that’s social commentary there. To contribute to your comments. :)
hjalmarilmer
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@TheGush, morally agreed. Thanks for your comment.
Money or value is without morality, its consolidated energy.
So we collectively learned the lesson, but how long will it stick? Lets find out.
Meaning: we don’t want it to skyrocket too fast like we saw in December. Parabolic rise and the crash to match. It’s not healthy. I’d rather see slow and steady gains than gain, crash. Gain, crash. You make no headway if you’re truly long (hodler) in that kind of market, and it brings negativity when we see that kind of volatility. People will lose faith in using crypto for anything other than day trading.
Volatility and fast spikes/crashes are fantastic if you’re day trading and you keep taking long/short positions as you see the market go- you can make a killing off of 30% swings. But to me, that cheapens and negates the underlying utility and intention. This wasn’t meant to be a get rich quick scheme. It was meant to change the world for the better. Greed can ruin things.
But that’s social commentary there. To contribute to your comments. :)