Yes, I’m convinced, now.I hope you HODLed, as did I. Every last Satoshi or equivalent—in fact, I’ve been auto-buying weekly BTC and ETH all along and never stopped.
The lines on the chart above don’t really “mean” anything, they’re just a metaphor for general sentiment, both of which prevail out and about. Since early January and increasing in intensity over time, the downtrend sentiment has prevailed generally. Now, over the last month, the sentiment tide is shifting to the uptrend view.
Why? Who knows? In my last post, yesterday, there was this in comments:
Awesome! Glad to see you back. Excited to see the market heating up again. Community activity has been sub-tepid, and it seems people are bummed out. I think that will change in short order.
Yep. Why it’s time to fire things up, again. I didn’t enjoy the doldrums but other than say HODL and wait it out, there wasn’t much to say and you’ve known me long enough, Bret, that you know I don’t blow smoke up asses.
Either you have confidence in this new technology with confidence that there will be significant investment pouring in over the long haul, meaning HODL and wait, or you don’t, and end up selling at lower prices to the smart money.
And this is ultimately a function of two things: 1) having a crypto portfolio that’s low enough of total portfolio that you’re not freaking out all the time (especially if older…young, doesn’t matter so much…if I was under 25 I’d probably have 100% in crypto) or 2) crypto may just not be a good fit for you.
But who ultimately knows anything? Winter doldrums? After-holidays ennui? Or, for it turning back around, spring has sprung?
On the more empirical, look at the signals side, was it a big Bubble-FUD operation? Significant selloffs? Lots of people with trepidation, so less money coming in, unable to sustain those early January price levels? Or, a combination of all three to get the FUD money to sell at lower prices to the smart money in anticipation of big rallies to come?
Regardless, here’s the evidence for the big rallies to come.
[Read the rest here, on Patreon.]