Upset by drop in Bitcoin prices? Start doing some fun things and ignore the cyclone that has hit markets.

Back to square one eh? Ever since the start of the year, bitcoin has been trying to correct and find a bottom. All I can say is that it seems completely lost. After numerous calls of bitcoin finding a bottom sometime earlier this year at 5,800k, we are back to seeing big red candles on a bitcoin chart and now most technical analysts I follow are calling for a bottom somewhere between 4k to 5k, depending on what tool they use. Do I care that bitcoin is in the red? No! Should you? No!

I bought my first fraction of bitcoin in Dec 2017, right at the peak (Yeah, its ok if you're laughing at me). Since then, I am obviously yet to see a profit. One good thing that came out of it, as it often does, is that it led me to learn more about what I had touched and follow every call being made by most famous YouTubers and shillers. Till last month, every red candle was also often justified by some form of bad news - either an exchange hack, or a crypto ban, or a regulator making an inquiry into an exchange. Other bits were taxes. But frankly speaking, none of that has mattered, as the market participants are balancing towards the bearish side. This time, the correction is very different. Market has ignored the good news that I talked about in my post (https://steemit.com/blog/@karamyog/bitcoin-there-is-all-the-news-but-where-are-the-buyers) and now this time, when bitcoin is crashing, there is no negative news to justify it. Like the buy side volume, the quality of news has also faded away.

So what am I doing in this market, that I am failing to understand, (or well think I somewhat understand but have no way to prove it) - I am chilling, NOT shilling, chilling. I know the news is there. I know the regulators stance. I know ETF applications are in. I know the big boys are coming soon. So I am ignoring this nonsense that is happening. And I recommend, if you believe in the long term potential of bitcoin, you do to. Ignore this red, and do some activity that you enjoy doing. Book a holiday or just do what you were doing when crypto wasn't in existence. To me this is just a shakeout. Scare the hell out of people. Most TAs will say I don't know what I am saying, its in the charts. Sure its in the charts, but I am not talking about what's in the charts. I am more interested in whats outside, and that is the fact the institutions will come. So if you're scared don't be. Summer's coming. Go to a bar, and enjoy with your mates. The market will do what it does.

In the long run, we will all be a winner. Adios!

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