Is it the bottom? Is it wise to buy?

Looking at crypto markets nowadays is no fun. Bitcoin has been moving inside the boring 18k-20k canal for over a month and is showing no signs of a breakout. Russia is escalating its war against Ukraine and Western countries are just doing the same. Inflation has reached unprecedented record levels and central banks around the world are pledging to keep on interest rate hikes like mad in order to fight it. Energy and food crises are looming on the horizon as winter knocks on our doors. At a time like this, it may be silly to talk about the bottom, but I think it is a question that deserves asking every now and then…

Now, to clarify, I'm not naive enough to be bullish given the current conditions, and like many others, I think that markets still have room to go lower, maybe a lot lower. One thing that has been catching my eye, however, is that we're at a stage where almost everyone around is expecting the markets to crash. If you watch crypto Youtubers, for example, you'll notice that the vast majority agree that the worst is yet to come. As I said, this is expected given the current circumstances, but if there is something that Bitcoin has taught us over its 13-year history is that it crazily tends to move against expectations. It is not just BTC either, almost all markets have the same tendency.

It is something that age-old veterans have long talked about- the likes of Warren Buffett and Baron Rothschild. While I hate to quote both but the former once said “be fearful when others are greedy, and greedy when others are fearful”, and the latter once said, “the time to buy is when there's blood in the streets”.

There is no time when there is more fear, doubt, and blood than now. So, who knows? it might be the time when one should just go against the grain. I know it is an approach that doesn't always work but believe me, it can be very rewarding when it does.

Another impressive thing is the fact that even the FED's determination to keep aggressively raising rates and even the Russian mobilization (the first since WW2) seemed to have failed to wreck the markets any further. I honestly find a hard time imagining worse news affecting the markets than what we've already seen. Perhaps, just perhaps, we standing on a solid resistance that just can't be broken anymore. Don't get me wrong, though, I'm not saying we should go all-in crypto at the moment, but I think that deploying 30-40% of your long-term investment portfolio to buy Bitcoin&crypto at the current price may turn out to be a very wise decision. Even if it dips further, then we have another 60-70% to keep buying at even lower prices. (NOT FINANCIAL ADVICE)


What do you guys think? Is it the bottom already?
I’m keen to read your opinions and thoughts…

THANK YOU FOR READING

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