I recently set a stop-loss at $10650 for Bitcoin. However, the market started doing this and I canceled the stop-loss and just sold instantly.
I now have 10 million Satoshi left (0.1 Bitcoin) but I also have an $880 hedge, and I've feeling really good about that. I believe that the Summer bull run is over and there's a good chance Bitcoin crashes to $7500 over the next 3 or 4 months. In that process Steem is going to get stomped into the dirt. Therefore, I'm hedging to buy more Steem during the months of September and October.
What was everyone saying when Bitcoin bottomed at $3200?
OMG BITCOIN IS GOING TO $1000
OMG BITCOIN IS DEAD.
THE CRYPTO APOCALYPSE IS UPON US!
You know what I was saying? Wow... $3200... I'm 99% sure that's the bottom.
You know what else I was saying?
I bet Bitcoin spikes to $12k in the summer and then crashes to $6k.
Honestly, these predictions might turn out to be really really accurate, but now with this new information I've shifted my guess slightly to a peak of $13.8k (obviously already happened) to a crash of $7500 (a very strong support line).
I've been in this game since Bitcoin peaked at 20k. That was the signal for me. I had missed that train but I knew there would be others. I've been FOMOing ever since, and I've lost a lot of money because of it. I am a raging bull. I know where this technology is going so I jumped the gun several times and never kept a hedge asset handy in case of a market crash, as there have obviously been several.
You should have seen my face when Binance Coin BNB hit $4.
I was facepalming so fucking hard.
As a poker player, I don't believe in luck, but I do appreciate that 2019 is the year of the boar (my birth year) and it is also thought of as a lucky year. I still think I can position myself to get extremely lucky before this year is over. We all can.
It's time I stopped FOMOing and FUDing. It's time to play it safe. I've found that it's extremely easy for me to call the bottom of the market. I've tried to catch the falling knife far too many times and bled out. As the market crashes, I always find myself entering too early before it's done. That ends today. It's time to start waiting for confirmations.
SBD is the absolute best stable-coin to invest in. It always returns to the peg, and it has the loosest peg of all stable-coins in existence. When it goes x10 you sell. When it crashes to 50 cents you buy. There's so much free money on the table when it comes to SBD. More on this some other time.
Although I will point out that the price of SBD is 7 cents under the peg. That's a free 7% profit right there. However, I think it's going even lower. In addition, when the price picks back up, Steem has a habit of making much bigger gains than SBD. I'm going to be giving this a lot of thought in the near future.
I'm such a huge crypto bull, the only way I can make extra money is by turning bearish at exactly the right times: the obvious times. It totally reminds me of my poker playing style. I'm extremely tight/aggressive. I cultivate a weak/tight persona, so aggressive players bluff me a lot. I catch them with their pants down very often.
For me, the time has come. THE MARKET IS BLUFFING. What was everyone saying when we all knew we were out of the Bitcoin bear market? They thought the same thing would happen that happened in 2014. They thought we would have a full year of boring consolidation where the market didn't really do anything. Have we already forgotten this?
That didn't happen, and now everyone is calling for all time highs. All time highs? 6 months after the bear market ended? If you were saying that just 3 months ago people would have laughed at you. Now it's the standard Maximalist delusion. We don't have a chance at ATHs for another 6 months; I "guarantee" it.
