While the pump certainly feels exciting, I’m more interested in the new floor. Usually when price actions like this happens, it takes a few high and low tussle within this range to find support and then enough consolidations to find a new floor. I’m more interested in the new floor.
Interesting how the market can be fueled by uncountable personal desires. Some people are looking to break even, some are looking to make x100 gains some are looking to recoup what was taken from them while others are looking to not just be liquidated. It’s a new price floor for me.
For some reason, I don’t like $16-17k Bitcoin, yes it’s good for accumulating and all that, but if you’ve been here for a bit especially watched the space grind from 10k up until $60k then you’d understand why 16-17k Bitcoin is boring, anything less than a trillion dollars in total crypto market cap is boring.
But you’ve got to admit that watching the charts these past few days have been super interesting, so nice to see the bears get their faces melted at every point there seemed to be a pull back. Anyhoo, eermmm! I did not load up on enough Liquid hive. I did load up, but I sold too early and missed all this run up.
Truth be told, I’ve been riding the bear waves like a pro, buying low and selling higher up until now and seeing the market, it seems I’ve learnt nothing because I’ve made myself become used to scalping in little margins, I never saw this pump coming, so I booked my profit way earlier.
If you’re like me you need to snap out of it, get that liquidity, it doesn’t even matter what the price says now, the FTX contagion is getting behind us, slowly DCAing now will make a lot of sense. If we do stay at these 20k levels for a bit though and perhaps get a new floor confirmed, then I wonder how long it’ll take for the market to get boring again.
