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Bitcoin - It's Business As Usual

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Written by   224
5 months ago

Remain On The Side Of Facts

There are so many dynamics that need to be factored into the state of financial markets at the moment. However, there is something that you need to really meditate upon! Bitcoin has historically retraced more than 80% every 4 years or so. The fact that BTC has not reached that figure yet is actually something to be marveled at. Past bear markets were simply isolated events, part, and parcel of Bitcoin’s mathematical structuring and the subsequent effects that it will produce in the marketplace. Previous bear markets were not accompanied by pandemics, soaring inflation, or QT. When you begin to really acknowledge the state of our world you can actually appreciate that such an inherently volatile and “risky” asset class is holding up pretty well. This definitely doesn’t mean that BTC won’t go lower but it does show that this is nothing new or “out of the ordinary”.

Unfazed

It might sound a bit crazy but cause for alarm would only be valid if BTC were to drop below $10K. The current price action is still very natural in terms of Bitcoin’s traditional range. Look, even the largest and most successful companies in the world are also bleeding. It’s just a storm that market participants have to weather. Obviously, do your best to use it to your own advantage and avoid calamity through disciplined risk management and smart strategies wherever possible. It doesn’t matter who you are, if you don’t make provision for the downside it’s going to hurt you eventually. Crypto entities that over-leveraged themselves because they reasoned that BTC would not fall so hard are now literally being dragged down the road.

Preparation

If you prepared for and incorporated such times into your strategy then this market would simply be unpleasant, not disastrous. In actual fact, if you were well prepared, chances are you are actually doing quite well in a time when others are suffering. I might sound like a broken record when it comes to strategies, risk management, and passive income but now you can clearly see how powerful it can really be and how it has the ability to shelter you in a storm. A bear market simply makes you more efficient next time around.

This Too Shall Pass

Try not to be too stressed about BTC edging lower. Remember, it’s not uncommon or fatal, provided we maintain price action above $10K. The final flush has to take place in my opinion. I mentioned a retest of the $18K level some time ago but a successful double bottom is unlikely at this point. Even though we have seen it the charts and data are still too bearish, indicating that it will collapse. This would likely trigger a move to my second target mentioned a few months ago, at $12K to $13K. Who knows, $15K might surprise, it depends on how the market reacts at the time. Eventually, even the bearish flip bullish.

The FUD will continue, as will the casualties but for Bitcoin, it’s business as usual!

Disclaimer

First of all, I am not a financial advisor. All information provided on this website is strictly my own opinion and not financial advice. I do make use of affiliate links. Purchasing or interacting with any third-party company could result in me receiving a commission. In some instances, utilizing an affiliate link can also result in a bonus or discount.

This article was first published on Sapphire Crypto.

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