If you had some money in your pocket to invest and you saw this chart, would you buy?
Or, if you held this asset already, would you sell?
When it comes to reading charts, to me it is kind of like my ability to read tea leaves or tarot cards - non-existent. I don't know what I am doing and I tend to stay away from it seriously. But I also spend a lot of time around the charts, so I end up looking at them and trying to "divine" a pattern of some kind to predict what is going to happen next and looking at the chart above, it doesn't look that bad for a buy - but what the fuck do I know?
That is the Bitcoin chart BTW and it seems that I might be in the minority thinking that it is in a buy window opportunity, before it heads to an ATH in perhaps Q3. Lol...
I don't even know what I did last summer.
(oh that's right - had a stroke)
I sometimes wonder when people post about charts and technical analysis, whether they actually put their money where their mouth is and sink significant amounts into a position, or pull significant amounts out of a position. It is easy to read charts and make public predictions, if not actually investing and exposing oneself to the risk of loss. If things go according to what is predicted a person can say "I told you so", and if in the opposite direction it can be "DYOR, markets are volatile" - without any personal gain or loss. Speaking with authority as of there is skin in the game is easy to have when it doesn't come with the burden of proof, but it is much harder when what is held is public.
Sometimes I wonder if all the Hive holders that support a current market cap of 380 million pooled their crypto together, how much there would be collected. How many Bitcoin and Ethereum do Hive users hold? How much Rune or Luna? For the average Hive user, does HIVE make up the majority of their portfolio value, or is it something else? It is the largest for me, but I suspect that this might not be the average position, and there are far more technical millionaires on Hive than their HIVE wallet suggests.
I am not one of them.
Which is a pity, because I think being a millionaire would suit me well. I have the kind of character that people would say, "he is so rich, but still down to earth" - isn't that the kind of rich people the world need more of? Do you really want to deny the world this opportunity to have a rich person role model they can look up to? It really would be a pity and a shame for everyone if I didn't become a millionaire.
For those that don't seem to understand much of what I write but comment still anyway...
But really, I would be a pretty decent rich person I think, as power over others doesn't interest me and I believe I am generally a relatively decent human in real life. However, if karma is a thing and I have been reincarnated, in a past life I must have been a bloody bastard, based on my personal luck! People around me seem to have pretty good luck though, so what if I am a "lucky charm" that increases the luck of those around me, but what is actually happening is that they are draining my luck credits - they are luck reavers.
That might make for an interesting story, where people would be able to absorb the energy of those around them if they choose. Would you absorb the luck of friends and family to have more yourself?
But, this is kind of how a lot of the speculative trading works in some way, where people are looking to buy the potential of others cheaply to benefit from it when it increases in value. You know, taking from the people who get scared out of the markets at the bottom, just before it starts moving up again. But, this is the game and with crypto, no one is forced to buy or sell even though there are plenty of excuses that make it feel like there is no other option.
Of course, for an individual, there are actual reasons why to sell, even at the bottom - but there are also reasons why some of those reasons are self-inflicted. I know one or two people here who have cried poor to the community and begged for upvotes so they can cover their rent, but in the background they have gambled away many tens of thousands on crypto dice games. But you know, *that isn't their fault, even though a core part of crypto is about taking responsibility for ones own financial conditions, which means learning to become at least somewhat independent and not expect handouts.
This crypto life is hard though, as it seems that we are conditioned to feel entitled to what we actually have little to no claim over and we proxy our power out for convenience, expecting to get more back than what it costs us. Funny when people think they are beating the system when they are getting government handouts.
Wasted opportunity.
Sure, more money can be printed, but the resources it accounts for are finite and that means it is like any form of energy, it can't be created or destroyed, just transferred into another form. Most of the resources in this world are being transferred into the hands of the few in exchange for a lot of useless goods and services and, the consumer thinks they are getting a bargain.
While I would be an awesome millionaire (or even better billionaire), this world as it is doesn't suit me. It is far too complicated and superficial for my simple brain to comprehend or care about, but I am still in it, so have to make do the best I can. What that "best" is however, I have no idea, so treat it like the charts - look for patterns and then put some skin in the game based on what I believe will happen.
What more can I do?
Taraz
[ Gen1: Hive ]
