So apparently Musk is going nuclear on Twitter again and the market is tanking. Tesla might even be selling more Bitcoin. I guess we'll find out at the end of the quarter. Truth be told, I don't care enough to look into it. This is all noise that no one is even going to remember come June.
I'm trying to focus and get some more work done on the ol database here, but it's hard with so many tears of outrage perpetrated by such paper hands who acted like they were hard when the market was doing well. What did you think being a "diamond hand" meant in the first place? What do you think HODL means? Sunshine and rainbows 100% of the ride? Now is not the time to panic.
We can see how weak this dump is right in the numbers. Since when do altcoins crash less hard than Bitcoin? During a raging alt-market, that's when. And when has there ever been an alt-market where Bitcoin performed poorly? Never.
When it really comes down to it, alts should be bleeding WAY WAY WAY worse than they are right now. The standard dip for alts is x2 that of Bitcoin.
Bitch please
Those are rookie numbers. If BTC crashes 5% ETH should crash 10%. If ETH crashes 10% EOS should crash 15%, and so on and so forth. What we are seeing now is simply a dump caused by the vast majority of liquidity being paired to BTC. Coins that have strong liquidity to BTC and weak liquidity to stable-coins will automatically dip when Bitcoin dips, and vice versa.
The ratio of how tiny and meaningless this dip is compared to the outrage on Crypto Twitter is a thing of legend. I'm having a hard time imagining these people in the middle of an actual bear market. In fact, I know they won't stick around. They'll simply rage quit at the bottom and that'll be all she wrote.
Again... 30% retrace strong
It is no surprise we are hovering at the exact 30% retracement level. $45k Bitcoin is for all intents and purposes an exact 30% dip from all time highs. Again, this is the standard retrace, and again everyone acts like the sky is falling. Why? How? Just do yourself a favor and stop watching number. It's that easy. Go outside and play kid, I'm done with your crying.
Hive: lol
Oh right I almost forgot about Hive... still at 46 cents like a champ. Unreal. Hive is one of those tokens that also just crashes into the damn dirt during a 30% retrace. Not this time. We are scraping rock bottom again like we're a stable-coin. Pretty crazy stuff. The complete lack of alts dumping right now is hugely bullish, and no one seems to mention it.
On top of that, Hive has a huge imminent upgrade coming on HardFork 25 AND the 3speak airdrop is probably gonna moon us pretty good as well. People flippin love airdrops, and you don't even need to be powered up to get this one.
Conclusion
Every day we get closer and closer to summer, and every day I feel more vindicated that it will be massively bullish. This is especially true considering how much panic I'm seeing today over such trifles. When investors panic over trifles they get wrecked by selling low, then they get wrecked again buying back in high. By the time these people realize they've made a mistake it will be summertime and they'll be buying back in at all time highs. Works like a charm. Keep calm and hold on.
Posted Using LeoFinance Beta
Return from Market Watch: Paper Hands Continue to BURN!!!1 muhahahah to edicted's Web3 Blog
