Strategic Reserve or Exit Liquidity: The US Crypto Playbook
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And I have to admit that whatever is going on behind the scenes is absolutely insane and there are probably hedge funds getting blown up because of these recent moves on up and down sides.
Just yesterday when trump said they're making strategic reserve adding SOL, ADA, XRP, BTC and ETH we saw an insane pump
And I thought when US market will open on Monday it'll be even better with those ETFs buying bitcoin and ETH.
When you've higher expectations from Crypto
From todays move I learnt my most important lesson that we shouldn't have high expectations from this market anymore
It's not the same as it was some years ago - people are already exhausted while chasing those moves
Vc's have milked every retail investors that those people have moved to stock markets already.
And whoever is left in crypto will be gone too at some point because of these high volatile moves like yesterday and today.
Yesterday it was +9% on bitcoin and today it has fully retraced that move as well as ETH.
This is the most bearish thing I've seen in a while like when there's a bullish news and it retrace the entire pump on the same or next day it's like bear market thing.
Coins US will add in strategic reserve
It makes sense if they add bitcoin as strategic reserve asset but adding SOL, XRP or ADA make no sense like why on earth anyone would consider these coins
Let's leave SOL from it and still XRP and ADA are two most retarded coins
But I see this is what bankers want is some exit liquidity and these coins next to move first which will only happen if something on a big scale will happen like US adding these to strategic reserve.
Looks like they've found enough coins to dump on those who bought these coins on top after that headline about strategic reserve.
Not buying Dips anymore
To buy the dips it is necessary to have liquid cash and I ain't have any since a long time now
My entries are too bad like stuck in those coins and can only let them go to zero or back to break even which is above 90% from here.
I can't even sell those coins anymore cause can't take the losses so it's better to take some salary and use it in real life to cover bills or rents etc
Thinking to plan what I'll be doing with life if this is the beginning of years long bear market.
Stocks going down will hurt a lot because we know how crypto correlates with stocks only when it's going down otherwise stocks going up doesn't help crypto much
Wrapping Up...
In the end we were just too close to see some glimpse of 2021 bull run but trump messed it up with those tariffs and all drama now it seems like impossible to recover from this
Anyways if this is the beginning of bear market, "next bull run we all are going to make it." Like all the other times.
fin.
Posted Using INLEO
When Bitcoin is below 30k, we will need HBD to buy altcoins. I'm hoping for a very good price for HIVE.
Below $30k???
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