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‘May day! May day!! May day!!We've been hit, I repeat, We’ve been hit’. I can still remember this movie title from a few years ago. I am no longer that fan or movie enthusiast; I have had to replace habits in order to meet up with what is very vital. In my late 20’s and early 30’s I have had a mental switch and the easiest way to summarize is, do not do as they do. This is a price for success; yes, many forgone alternatives in-between.
You can calm down a little, the ‘White House Down’ here is not actually the real White house or even a movie per say, we are delving into the crypto industry and I guess you’ve seen it from the first image. I have been so far away from the general crypto markets that I am barely aware of what is going on. Bitcoin just retraced to below 70K, what can actually be going on?. At least we know the preambles; people are laying off.
Government influence, tax laws, Whales influence; of course you know this can be a good idea for some restacking ahead of the future. It happened the same some years ago and Microstrategy by then was buying. This is why I keep saying that those who suffer the fate of the market are middle class investors; it is them that entirely get liquidated.
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We know the patterns; when Bitcoin is down; altcoins follow suit; long timers here call it, ‘the blood bath’. Nothing has survived the crash currently unless you are looking at USDT and USDC I guess. Maybe this is us weighing them in price instead of volume because in actuality, a slow market, slows overall transactions even to unit account tokens like pegged US dollars. So yes, everyone has been hit.
I was looking at Hive and Leo doing some retracing and talking of Hive, this is my first time of me seeing it trade below $0.10 cents to $0.07 cents. A friend on chained talked about such being a big opportunity to leverage especially for Leo tokens; JUST BUY MORE. You know it gets easier to say the market will bounce back than actually taking advantage of it. Here; sometimes it seems investors care less about history repeating itself even after it has happened over and over again. What if, just what if this time around the story will be different. Ok, this could be you thinking.
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Personally, I never expected such quick liquidations for crypto and Bitcoin especially in the space of 20 days. According to the chart above, it seems the entire curve turned red within the 19th and 20th of January. And as we speak, we have a new all-time low of Bitcoin after crossing 100K mark and yes, February 6, is a record holder. The market can be very unfriendly and flexibly manipulated; it all depends on who holds more or perhaps wield more influence.
To conclude, let me add, this is why I keep saying, anyone who stays short and invests small in the market is actually at a big loss. Short term is just gambling and the chances of becoming a victim can be what is happening right now. The only solution here is to buy more or hang in there long enough. Am I advising you? Please read the footnote.
This is an article covered by dani-EL; a broad niche writer. I write on faith, life facts and daily living, business and economics, small scale and daily businessing, cryptocurrency and technology. And yes, I do cover articles on financial education and investment updates. And note, if I happen to be a financial adviser to you, the TOP financial advice should be ‘DYOR’ (Do Your Own Research), I can't afford to break your heart.
