Reply to thread

Message: <blockquote data-quote="wjschmaltz" data-source="post: 161446" data-attributes="member: 6150">I saw I was tagged here and haven't been on the site for a couple of weeks.  Crypto is not dead. There are a lot of crypto projects that are. Probably over half of them as a matter of fact. Shit coins like Shibi Inu or Doge Coin that I've been screaming at people to avoid are pretty much done.  Bitcoin is following it's historical cycle. The push down being driven by economics and scared money along with historical BTC cycle.  I switched everything to UDSC and USDT to peg the dollar when ETH couldn't get back above 3,800 a couple months ago and the economics were pointing towards recession. I think the lowest I got out was $3,000. So I had very good gains.  My average position on ETH was at around $500 and the 25 I swapped over will be 75-100 here very soon when I buy back in.  I would like $500-$900 to switch back into ETH.  Hopefully it comes lower than that even! If it hits $200, I will be buying at least one a week for the next couple of years.  Below is the weekly Bitcoin chart on a log scale.  The BTC halvening, which is the mining reward that keeps Bitcoin deflationary (which makes BTC the ONLY asset that has a cap on the number that will ever exist, which is important to understand why it has value), happens approximately every 4 years. It's extrememly important to understand the halvening cycle before even having baseline crypto conversations. After the halvening, BTC is bought up because it becomes more scarce.  Simple supply and demand. It typically tops our around 1-1.5 years after the halvening and then hits full retracement about 2-2.5 years after.  And then it does pretty much nothing for two years.  With the economics being much different this go around, it could easily go down much more or rebound from here and stable off higher.  Who knows.  I do know I will be accumulating more BTC, ETH, and LINK over the next two years and we can check back in summer 2024 after the next halvening. Actually summer 2025 is when we will really know. If it fails to come up after that, I will give ear to the sky is falling crowd.  But not until then unless someone can provide legit reasoning and not speculative reasoning to why they believe that.  The red line on the chart is the halvening date.  Notice how after each halvening it goes balls to the walls.  The green line is two years after each halvening.  Typically very near the bottom for the cycle (between red lines).  May 2020 was the last halvening.  We are at exactly two years right now.  Again, I'm not saying it won't go lower because of that, matter of fact I expect it to.  I have no interest in talking people into BTC or ETH at this point.  That's the data.  Things could change.  If I buy back in and it goes to zero, I've prepped myself mentally for that. I don't play with retirement or bill money, its all excess set aside for investing like this.  Best of luck everyone. Also, your crypto can't be stolen if you put it where it should be - hard wallets.  [ATTACH]52793[/ATTACH][ATTACH]52794[/ATTACH]We’re a little lower than 38%, but I think you get the point</blockquote>

Verification: What is the most common fish caught on this site?

Reply to thread

Recent Posts

Friends of NDA