Irrational Selloff, do not Panic
While the market is selling off irrationally the smart people are buying!
My friends while I would be lying if I was to say that I saw this coming I am still not upset that it is happening. My only regret is that I did not short sell at 6000 and re-buy back in now, because if I did I would be nearly doubling my position right now. However, as it is I still believe in the tech and I do believe the price will rise again, as I have said countless times Bitcoin continues to improve as a technology and Crypto adoption continues to improve. In the long term the price will moon, but with the current FUD and delays from BAKKT moving back the prices may slip as low as $3000. But in my opinion, if you sell now, you are giving the richest people in the world the opportunity to buy your Bitcoin at a fraction of what you paid for it, do not let them win. I myself am down on my position but I will not sell at these prices. The RSI is very much over sold and we will see some upside action soon even if its short term, the RSI is never wrong. Be brave, fortune favors the brave, be strong and HODL.
Since I did not have the forsight to sell higher and re-buy at these lows, I am just DCAing at these prices, that is adding 1-200 dollars each paycheck, some Bitcoin, some ETH and some Cardano.
This is not financial advice and I am not a financial advisory, invest at your own risk.
Well done, My friend I really appreciate your patience and I am also hoping the same thing. I hope the market will be better in the near future.
Thank you @embomb701 for sharing with us :-)
I am sure it will, this price action is irrational and the RSI showing completely over sold.
Yes, I agree with you :-)
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thanks friend, I am going to follow you as well, you put out some good info.
What about the matrix network btw? Still bullish on that one?
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When Bitcoin was failing down and was at 10k we saw 1.70 MAN, I believe that when Bitcoin bounces back we will see a 7$ Matrix minimum.
So u keep holding it?
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Well when I wanted to cash out, I would have been obligated to pay short term capital gains, so I held. Now if I sell I lose so I will HODL until we see big gains again.