Greetings Lions,
The current price of Bitcoin is $48,607 and yet still people are extremely bearish, but I don't think it's the price that is getting to people at all. I think it is the process of readjusting their expectations. There was so much talk of $100,000 BTC - many aren't actually down, it's that the December performance of Bitcoin didn't meet expectations.
This morning the price was briefly above $49,000 and I noticed an interesting trend in how the MSM is talking about Bitcoin.
It seems that the media will take a shot at rebranding BTC as a tool or a toy of the "Rich", a dirty word to some. Personally, I'm fine with that.
Regarding fear vs. greed, there is slightly less fear in the markets, but still plenty to go around.
I also think it's kind of funny that if the 4 year cycle didn't pan out, how quickly everyone wants to stick to the narrative that if we aren't in a full bull season, it must be Bear season.
Without a big run up or a big drop, I tend to think we don't yet have to envision 3 or 4 years of trending down and the good news in that is that it includes the Alts and Hive as well.
While I know many are expecting the worst from Bitcoin, I'm still expecting things to go okay, I'm not calling for $100,000 BTC, but nor do I expect to see an extensive downward trend yet. I'm HODLing.
What are your thoughts about early 2022 and crypto?
@whatsup