CAN THE DEVS DO SOMETHING?!?

Hm, yeah it was pretty obvious the market was going to get crushed with a bearish 2-week cycle converging with the last 2 weeks of tax season. I guess that doesn't stop the panic of setting in and wondering if we are going to test new local lows... we aren't though.

In fact, with this pattern of higher and higher lows, it should not be surprising if we move down to around $39k before bouncing. $39k is a great place to bounce, because the market is psychic and well attuned at transferring wealth away from paper hands. Many traders (panic sellers) will see the price go below $40k and assume that all is lost and we're about to crash to $35k. We are so good at selling the bottom. Don't do it.

There's also a chance that $41k holds because if we look at the downward cycles over the last 3 months what do we see? I see every dump lasts around 6-7 days. How long have we been dumping? 7 days. We are going to forge a highly low very very soon. Do we really care if that low is $41k or $39k? Another 5% drop isn't going to make or break anyone (unless you are margin trading like a psycho and you get liquidated).

2022 Bitcoin Doubling Curve

Doubling curve still looking sexy

We've gotten close to the curve, but we've never actually bottomed out and grinded on the curve. We've been above the curve since November 2020, which is super impressive. We can see that at the end of this year Bitcoin is 'guaranteed' to be above $50k. Obviously buying here and getting a guaranteed 20% return in 8 months is a pretty good deal by anyone's standards (except degenerate crypto gamblers).

Unfortunately Bitcoin is still my smallest bag, which is very sad honestly. I'm looking to fill up my BTC and RUNE bags, but what would I sell? At this point I'm just waiting for something I do own to spike up so I can sell off back into the safer asset (BTC). Until then I'm in a holding pattern with my micro caps and small caps (and BNB); living that degen life.

Again, looking at the doubling curve, the lowest this market can possibly go in April is around $34k, which again seems highly unlikely considering the circumstances. The 18-month bull run is still in play and May/June look like they are going to be killer months. Messing around with the market now will seem silly compared to what happens next. My target is around $90k-$115k during that time.

$100k is not a lot.

Everyone is still focus-fired on $100k like it means something. Who cares? It's a stupid unit bias number that's totally arbitrary. It's another digit in a base-10 number system. It's completely meaningless. Remember when this whole $100k thing started? Yeah, Bitcoin was at $10k, so $100k was a huge 10x. Now that we've been trading sideways for an entire year between $30k and $60k... $100k shouldn't be a big deal, but people still think it is because people are delusional and irrational. Doesn't matter.

April is one of the safest months in a decade long history of price action. It always trades sideways or up. We started this month at $47k, and honestly I expect to be testing $50k by the end of it. This is just another sideways month just like all the other Aprils about there. Let's not forget that we began this month on a bearish 2-week new moon cycle combined with tax crunch time. The full moon is the 16th and taxes are due on the 18th. It's all lining up quite nicely, and the end of the month should see a nice recovery.

Conclusion

No matter how much number goes up, people will always have infinite greed and panic when it goes down. Patience is a virtue, and very few people in this space seem to have it, making it a highly valuable resource. Work on your breathing exercises and do some meditation or something. Stressing out about these numbers bouncing around is not good for your health.

Posted Using LeoFinance ^Beta

Return from Told you tax crunch time was gonna suck... to edicted's Web3 Blog