What a week and yesterday was one wild ride. Bitcoin went all the way down to 30K and in less then an hour, it went all the way back up to 38k. Shorts liquidated, longs liquidated. I feel the pain but I still have all my cryptos and I am not worried at all. Pain is my friend. I am still HODLing tight.
According to glassnode's chain metric, alot of the Bitcoin have been bought up and moved out of exchanges. This dip may be severe, it is going to prolong the bull run. I've checked the indicators and most indicators have gone through a reset. The crash creates a deeper dent according to RSI. Well, I am still fine. I am writing this in case anyone is feeling the pain and is looking for someone who has also gone through it. I am feeling the pain, but I am bullish for the year 2021. On my twitter feed, I am beginning to see many positive tweets from Justin Sun buying up , Micheal Saylor and Elon Musk having diamond hands and etc. From a glassnode report, it shows that alot of the selling at the moment are from new retail investors who have just gotten into crypto. Then there are those who have gone into leverage. I am down half at the moment, but it's alrite, just stay calm.
Investing in cryptos and HODL requires a new state of calmness. The type that is different from the ordinary person. After I invest in Cryptos, my mind feels calm even now. I am almost down 10k USD.
I am one year 2 months into full crypto investing. It has been a fun journey. Hope your feeling great. June and July are gonna be great months. Don't press the sell button without doing some analysis. It's like having the nuking button in front of you and having some unconfirmed intel about some enemies coming.
Twitter: Justin Sun
Twitter: Justin Sun
These are just some of the tweets that I've seen on my twitter feed. It will all be good. It is a bump on the road. Time is on our hand. Those who hodl on to Bitcoin, Ethereum even after the 2018 crash, are doing fine right now if they hodl on to their holdings and along the way from 2018 till 2020 accumulated more. Invest in what we can lose and take profits along the way. This reduces any anxiety to sell when any crashes come. This takes patience and practise.
Not financial advice. Give it a few days and we would be seeing a relief rally. Bitcoin's RSI indicator is oversold on the 1 day, 4hr and even the 1hr charts. It is just a matter of time.
@luueetang