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Jake Woodhouse

For anyone out there wondering what the Bitcoin market is doing, ask yourself these questions:

- am I ignoring what the charts are actually saying?

- has bitcoin been going parabolic for weeks with no healthy pullbacks

- does the price look like it is climbing or warm, rather than stairstepping up?

- is there a parabola?

- what is bitcoin‘s volume doing?

- is price climbing but trading volume is fading?

- are there early death crosses?

- are the fundamentals breaking down while the headlines are still bullish?

- what is on-chain data telling us?

- what are exchange flows showing?

- what is happening with new active wallets?

- are either the experts or the “crowd” getting louder?

- is there retail euphoria?

No doubt a huge amount of negativity has seeped into people's minds... Are you a bear? Or is there some bulls still out there? Remember: night is darkest just before the dawn...

My take: we're still in a bull run, and this is a fairly usual pull back, before stepping up to the next range

Position accordingly

Kudzai Kutukwa 1mo ago

I would also add to the list:

Has bitcoin’s value proposition as a decentralized, proof of work, monetary network changed in any way? If the btc price is really the cost to exit fiat rails at any given time, is that cost good or better right now? Is the price truly matching market conditions ie more sellers than buyers or something else is driving it?

These always help to keep my feet on the ground and as a result I am a buyer at any price

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Discussion

Jake Woodhouse 1mo ago

Yeah nice. That’s the key. It’s an entirely different system, with a almost zero counter party risk (the more you know the more you buy)

I now look at options to “take some profits”” in Bitcoin, and get so put off by the counter-party risks, something 10, even 5 years ago, I was almost entirely un-aware of

Kudzai Kutukwa 1mo ago

I like the idea of “taking some profits” in BTC as most just do so in fiat, when they buy low and sell high. Totally different system that has to be looked at based on its own merits.

nowiscliñs 1mo ago

Pedo