As markets bleed Red today we are reminded of the March 2020 'crash'. If you were hungry to buy when the street was red with blood you would have made an incredible move to the upside in the months following. This of course was also an incredible buying opportunity for crypto's. I was a little slower at the trigger as I only started to accumulate November. I was late to the game and even dollar cost averaged into the high's. It kind of 'hurts' but at the same time I am reminded of the tax implications as to why I didn't even bother to sell near the top. I was reminded to take dollar cost averaging on the way up, but in al honesty I feel I have learned from past bull-markets that even when things go to shit, they have a good chance of going even further than what it ever was before.
Patience is the key and removing yourself from day's like today is what makes the real crypto veterans. Could we go that much lower back to such a buying opportunity? In my humble opinion I do not believe so. For whatever reason even during today's sell-off the bears are having a hard time getting BTC below the 30K mark. This is not to say we cannot break much further to the downside. I am psychologically preparing myself for this scenerio as we are in at least a mini-bear market.
The bear's aren't calling for 20k, or even 10k. In all honesty it has never happened before that all time high's from previous bull markets have gone lower. This would be an ultimate paradigm shift out of crypto. Even the negative sentiment has reached a fever pitch with some of my favorite youtuber's.
Crypto Casey outlines a severe bear view of basically exposing USDT (Tether) doing the exact shenanigans the banks have committed in 2008. Tether is Printing re-hypothecated crypto dollars through the same avenues the banking system takes which eventually led to the 2008 crash. Those fake USDT tokens then buy many of our beloved crypto's. Once fully exposed she believes this could crash crypto's to level's not seen since years ago. She is allocating 60% to cash and selling off some alt-coins to perhaps take advantage of such a downturn.
I myself know of the tax implications to sell at the recent top, and I know the implications of a crashing crypto. Seems almost like I am boxed in like many who are forced to gamble in the stock market for yield. In the end we are here because deflation is the natural force trying to correct all markets. Inflation is not the price of goods and services going up; it is the expansion of the money supply. Do world governments even the elite really want a complete collapse?
Ultimately those of us in the crypto community are not here to just get rich; but to invest in what we believe is the future of technology. Personally I believe that this is just the beginning of our crypto journey and if I were sitting on more cash I would put it on the side like crypto-casey and be ready to buy more.
Just remember you will own nothing and be happy.