I've written the "Hello, Bear Market!" article hours before the great crash.
There was no way knowing that the crypto market will collapse, except from what I was reading in the charts.
I'm not happy if you lost money, if you read my article you would know what you should be doing. If you read it, and still you were replying to buy the dip at $50k as some did, you were delusional.
Bitcoin is done. If you want to know why read my previous articles. And remember this too, it is never going to recover.
Bitcoin Cash is the real Bitcoin, the one that will require to proceed with what the whitepaper was for, and if it makes it there, then it will become adopted.
Cash though, needs to have stable price. Merchants don't like volatility and for this reason there are services like GoCrypto that allow merchants to accept payments in Bitcoin Cash and instead of Crypto, they receive fiat.
This helps us, because we want to be able to use our cryptocurrency. It means adoption and we don't have to wonder what the merchants will be doing. They want to sell to fiat its fine.
Third parties created to support Bitcoin are important. A third party that is not intrusive and not censoring transactions is only good for the system.
Once again we have seen the usual suspects telling us to buy the top. The China news were rumours for weeks. These guys sold weeks ago or some of the whales took profits out just a few days ago, as the news have been circulating.
What they are telling you now is that the same thing happened in 2017 in September and that Bitcoin recovered and continued the bull run.
NOT AT ALL. This is a big lie, the chart is completely different and does not resemble September 2017. Price went down bellow all support levels and the difference from ATH was more than 55%.
In September 2017 it didn't reach 50%. Bitcoin any time it drops this way it starts a bear market and while it bounces from very low prices it will take a very long time of consolidation before the bear market ends.
And if it ends, as this time it is different.
Bitcoin had a target the $100,000 price range. It didn't reach it and it will not unless big changes are made. The Blockstream strategy was a mistake and the Bitcoin Cash side was once again correct.
Big blockers were right and this is the reason Bitcoin didn't make it to $100k. It could have been there if six years ago Blockstream didn't engage in the
Price bounced because of bots and Tether. There will be fiat liquidity in many exchanges and I predict that some of the top-ten exchanges will not make it.
Many exchanges are very deep in USDT and BTC and there will be unpredictable problems with withdrawals. However, this is for another post another time, once too many evidence are gathered.
The thing is that hopefully you guys made money and not lost. With my posts for over a month I was giving warnings and explanation. I did minimum charting because charting is personal and always it is missing too many variables that are important and change the picture for each trader.
My charts are right though and I've called the top, I've called the bear market, as history repeats itself.
I bought the dip and sold again and my strategy currently is to open shorts where I see opportunity. We make money both ways, this is not about emotions. Trading is about predicting the price and when you have good odds, make that bet. This is what we do and what a million traders are trying to profit from.
If you are delusional thinking that "hodl" BTC will make you a millionaire then this is not the right approach.
I'm never just hodl and believe in the lies of Twitter. If this is how some trade, this is why they lose money. Trading and investing needs no emotions, studying, experience, and having tools at your disposal.
You guys just go ahead and make a fibonacci extension thinking this will be your profit targets. You look at RSI and don't even know what the equation for RSI is. You look at MACD and been told where to buy and sell but have no clue what this tool reads.
Some guys are trading patterns and others are probably asking for financial advice from apes at their local zoo.
Good luck to everyone, but when you mess with this market you have to know that most of it is a joke. Most of this market is a meme that has nothing useful to offer.
It is repeating again and again. A huge programmed pump and dump, with Willy bots, Tether, stable scam coins, and whales that dump on your face. Then it's over. And it is over once again, you are deceived if you think this will recover.
You were told to run at $50k, did you listen? Those that kept telling you to Hodl they will keep saying so until you lose 95% of your money, and then they will tell you to sell.
P.S. I am right for the time being, and I will be wrong if there is 1% chance that the market will recover and go higher. This, however, is not going to happen.
Dumb institutions will also have to ask for more tax payers money to cover for their losses in their gambling Bitcoin adventure.
Let's see what happened in 2021:
OH, WAIT! This was 2017! See? This time was no different.
https://read.cash/