lol first time i've zoomed out and the monthly candle looks this bad
Discussion
People keep saying something big broke and I’m starting to agree. Feels ominous
Feels like contagion since 10/10 crypto liquidation
I only really look at the weekly and monthly. Could be worse 😁
I tend to not look at candles, usually just macro news, but figured I'd check
See you 2028!
hey your guess was this time next year wasn't it :)?
oh gross haha but still better than 28
Nothing exciting about 126k in 2027
And technically... If you go off of history that would still be early. Would be about 7 months pre halving which hasn't happened before
i think that's too bearish but time will tell
At this point I'd rather be too bearish and wrong then bulltarded and right. If we are being real the bulls have been wrong for 5 years.
Market is brutal.
Then why even hold BTC if you're this bearish
Good question. I strongly considered hedging but couldn't bring myself to do it. I am incredibly ideologically driven and am able to accept losses in order to work for something I believe in. Someone has to ride the waves and set the bottom.
With that said it's been an incredibly disappointing and difficult quarter. Much harder to hold at higher net worths. Much more to lose. Wish it wasn't this way but things look bleak.
yeah, a lot of people have been disappointed
I need to replace my car so i feel that more than anything if we really did top out and after 3 cycles i hear you on the higher net worths
but i really don't think it's over
I hope I'm wrong but I see no positive signs. Fighting about network dynamics, no trust in devs, everyone speculates Bitcoin was mossad now, no corporate adoption, stagnating users.
Perfect cycle top in terms of time, everyone front running a crash, gold up 55% on the year while Bitcoin is negative so sound money narrative is on hold.
The biggest bulls are basically betting on global financial catastrophe or WW3 and they might be right but that's not exactly something to be pumped up about lol
Bleakkkkk
This is a well summarized bear thesis. I think liquidity will increase (though I'm more in the Lyn camp where I think it's slower).
I think sound money thesis was playing out until the big holders sold and killed momentum. I think that will play out again.
If BTC failed to surge over the next two years (users and price) I think it's in trouble
I've become fairly bearish on humanity itself. Not to be harsh or cynical, but I think 90% of people are perfectly comfortable responding to authority no matter what. And I think culturally and demographically the west is in steep decline.
Bitcoin is an enlightened idea for rich, intelligent, and enlightened people. Most people will never understand it's potential or interact with it at all. And unless you can work your way into the highest levels of power, I don't think you're going to be able to establish a system like Bitcoin and maintain it's integrity from the bottom up.
I hate bear posting but I can't help but have these thoughts recently.
You can’t make the case for the hardest money in the world when you have idiots messing with the code. You think people don’t realize this? Bitcoin isn’t going anywhere until that gets resolved. To me, why else would OGs sell?
😥
The 85k GangCandle.