Don't let this chart fool you…this is not the bottom…we may be going into a bear market rally.
Just wait a little while longer to buy, because you can get Bitcoin and crypto at a far cheaper price in a couple months or so, if it takes that long.
This bear market won't last forever. Credit contractions and bear markets on average for the past 150 years in the US S&P 500 took about 18 to 24 months to play out…from peak to trough.
There are exceptions to this; 1929 to 1932, and 1937 to 1942. There were other externalities that were involved with these years, the Great Depression (29 to 32), which was mostly a credit contraction, and the 1937 to 1942 bear market, during the Second World War…lots of volatility in global wars...because you don't know who the winner is going to be.
Bottom line, keep your powder dry (meaning keep a lot of cash on hand), until credit expands again, which will be determined by central banks keeping interest rates the same or lowering them; and they stop selling debt.
Stay frosty people and solvent.
70% allocated to ph-fund, because I forgot to allocate 35% in the last post.
Greetings @fijimermaid, definitely the market has not given you the reason for now, as in the weekly chart, the bearish pattern in formation still has a long way to go. Greetings
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Yeah, the weekly looks like it can go lower below its 200 day.
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Your post was upvoted and resteemed on @crypto.defrag
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Hi @fijimermaid
It's.unngreat detail this, it might seem a sign of hope this small market recovery.
Many might sell it as the beginning of a recovery, however I have my doubts. I think there is a lot of instability at the moment, the conditions that made the situation so difficult are still present, so I do not see a very good reason for the start of a recovery so soon, however it is encouraging, but do not get carried away by the mood alone.
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Yeah, bear market rallies are usually wealthy holders of crypto that are still unloading their assets for cash. And they can't do it all at once, because they hold so much. So they sell 20% of their position, then stop, wait for the market to recover again, then they sell more of their position into a bear market rally. That is why bear markets look like rolling hills down a mountain.
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Greetings @fijimermaid 💞😊
I'm quite optimistic that the market will definitely appear bullish as time goes on...Let's just keep hoping for the best.
Thanks for sharing this great post with love from @hardaeborla and I hope you have a great day ahead 💞❤️💞
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Over the long-term, markets go up. I am very optimistic about that.
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Yeah, I think you might be right. There are still a lot of thigns to come, especially some more itnerest rate hikes :/
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Yeah, I really don't like credit contractions...they make everyone have less money :(
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Sure, stack lots of cash at hand against further market dump, the bears seems to be persistent for now all fingers are crossed waiting to see what direction the market will head in next couple of weeks.
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For sure :)
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True, I share same view too. Things are far from clear, but we might be one crash away. I'm not high on stables, I still maintain my position in all my holdings and have no plan to sell. Things will be back to green, but not now.
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I have no plans to sell either.
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