This is it folks. Bitcoin made it again, the third halving helped us and all our investments are in deep green for the time being. And we are nowhere near the end. The prices may look high for some and risky, but the crypto frenzy is not over yet.
Some say that we haven't still seen Bitcoin growing rapidly as it did in previous years. I agree that in moments only it resembled the bull run of 2017. Please remember though that we are still in March.
I am considering for this post only the two bull runs for Bitcoin after each halving.
The first one was in November 2012. It helped Bitcoin enter a bullish rally for one year and a half. Thesecond one was in July 2016 and the bull run lasted almost the same. This is when this bull run will end too. It started one year ago, so maybe six months more or less.
As many suggest this will be in autumn, this year. The chart is now at the same point it was in the summer 2017. With price being ten times higher. It is moving the same way, with the same profit taking points and the same periods of strengthening support and pushing up again.
However, I still don't understand this chart. It is some kind of logarithm that pushes the price of Bitcoin this way, but it looks completely fake and manipulated. Maybe together with the internet of money, some very intelligent people figured the way to create value from nothing.
It is so difficult to understand that at moments I don't want to deal with it again. I have studied math and statistics at higher levels, but it is a little far from me right now. I have seen some charts similar to Bitcoin, but only partial. The repeated bull and bear cycles, is something that matches some assets, but I haven't seen anything going this fast. If this gets wilder we will see it, because for the time being we are still all cautious.
Being concentrated we will know the time when the price of Bitcoin reaches the exact top. Of course first there will be a crash, a bounce, another crash and we will have to wait for two weeks to know if this was just another correction or the main event. Until then Bitcoin will keep rising. It is not stopping right now, so safely stay holding your crypto assets as soon we will notice the new blood joining.
The difference is the new blood is corporal and institutional funds. The game is now at the hands of CEOs, fund managers, big players in markets and of course some stubborn early whales that will hold forever.
However, being a whale that bought early, won't give any respect when you are just dormant sitting on a lucky ticket you bought. If you don't use your vast Bitcoin wealth to produce then what exactly are you doing?
One of the reasons I liked Roger Ver and didn't hit him back was that he wasn't just an early Bitcoin investor and even before that he was founding successful companies in commerce and the tech space. He funded and invested in many projects very early. He was an early investor in Ripple, Kraken, and blockchain.com.
There are a few that are trying to create something good, but I have to admit that I am very disappointed from the Bitcoin community and discouraged by the lack of spark these people have. It is all about Bitcoin and nothing else. The easy way out of everything is to sit on one success you had and not do anything else with your life. Moreover, when this success is kinda influenced by luck and not skills. It didn't take skills to buy Bitcoin early, it was you being at the right place and right time and started mining, or a little later investing some of your pocket money into Bitcoin, for whatever reason this was.
There was very little risk for the early investors. The miners at least needed time and some understanding of how Bitcoin works. I often read comments and articles from early investors and it is obvious they did not understood a lot about what is going on.
As I said the bull run is not over yet, however I wish it was as I have de-invested too early. I am trying to avoid looking at the profit lost and to keep going with smaller. It is not that I had big financial issues lately, but the fact that I don't like taking too much risk lately probably coming from my gambling days and the lessons learned.
This was my first post in read.cash, I really hope at least someone read it and enjoyed it. I am bullish as you see but I am not going to become annoying to others when transfering my thoughts. My way of going forward is trying to find order in chaos and correct my mistakes. I don't call people names and think that everyone deserves a second, a third and more chances to prove their worth. It is human nature to make mistakes and we can't avoid that.
Thank you for reading.
