Inside The Mind Of A Bitcoin Maxi
With the market sentiment changing rapidly with the volatility we have seen, many thoughts are going through the minds of Bitcoin Maxis'.
We are not out of the woods yet and Bitcoin has broken out of its upwards channel but has some horizontal support at $37150. Bitcoin needs to stay above this support to remain technically bullish in the weekly close.
The gains of yesterday were sold as people were looking for exit liquidity. There are anyway many challenges ahead for Bitcoin to remain bullish.
Therefore the Bitcoin Maxi is already thinking about % to deploy if Bitcoin hits certain levels. How much % will you deploy at $30k, $25k, $20K and sub $15k?
Perhaps you will increase a flat 20% at each level or increase the % as it goes down?
This could be the same strategy that we saw in January when Bitcoin went sub $35k. It didn't go much further than that back then though.
The negative sentiment currently could be due to the crackdowns announced in the EU and now in New York against Bitcoin and it could take DeFi in the process. It is hardly surprising when central banks have been told by the IMF that they will in the future hold Bitcoin on their balance sheets.
They even have a special name for it .. BLCA = Bitcoin-Like Crypto Assets.
The IMF even went a step further and made a nice picture of what the future will look like:
What strategy are you playing with Bitcoin?
Thanks for reading.
