What a Month of November!
We waited for a long time for a month like the one that just ended in crypto... Most likely the results of the elections in the US helped unleash the craziness. Probably things would have turned out quite differently if the other side would have won, with its anti-crypto track record.
I listened yesterday to a podcast with two CEOs and a Well Street guy who worked with Trump briefly. I don't know when it was recorded, but BTC was 94k at the time, so it couldn't have been long ago...
As I was listening to the bitcoin part of the podcast, I couldn't help but notice two important things:
- both CEOs knew what they were talking about
- and both of them got the bitcoin bug, at least, really hard
I'm thinking now that I am not as bullish and hit by FOMO (borderline craziness) like the two are. One of them mortgaged his house to buy bitcoin at around 50-60k, if I remember well from the conversation. That's either nuts or an unshaken conviction. I don't have such conviction. I wouldn't mortgage my house for anything. Of course, rich people may do it all the time.
Microstrategy made its record bitcoin daily purchases last Monday at almost the ATHs. That's also unshaken conviction.
I don't have the same FOMO. Retail in general, doesn't have the same FOMO this time, for whatever reason. Institutional investors and rich people, on the other hand, they started to show real FOMO in some cases.
Their FOMO, our gains, I guess. Plus, it might get contagious.
Source - Nothing like an uptrend 😀
We had a week of mostly consolidation at the end of the month, although some alts have done well this week too, including Hive. We kind of know why we had the price action for Hive, and looks like its good to be in the center of attention for a change.
I don't know how December will be, but my radar senses a lot of impatience for Bitcoin to pass over the 100k threshold, so maybe it will be forced again soon...
The FOMO of institutional bulls is still insatiable...
P.S.: I powered up a small HIVE amount on my staking account for HPUD. Happy Hive Power Up Day!
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When there is FUD, then it's time to buy. FOMO is a signal to sell. :-)
I'd say FOMO is different from euphoria, in my opinion. But I did take some profits and started some unstaking a while ago, to not get caught with my funds I want to turn into stables illiquid.
Surprised you didn't have fomo yet, the adoption wave coming seems huge. Saylor just announced a new buy, so another 100k attempt tomorrow probably... BULLcember 🐂 can get started!
Too late for FOMO in my opinion... We should get FOMO in the bear market or at the beginning of the bull market. I guess I'm way too logical about this, lol, so yeah, no FOMO for me.
Namaste.
What do we kinda know (i don't)/about the price action on Hive?
Greetings to you too!
My opinion is that the price action for Hive at least for the last week or two weeks has been under the influence of the rumor then news of the collaboration between Inleo and Dash. Also look at the prices of Dash and LEO.
Ah yes, you could be right
I might be wrong.. And I hope I am wrong.. But I do think the 4 year cycle will repeat, and volatility will return at some point. Of course, if one is long term enough, each cycle's highs and lows and will be higher than the previous one.
Why do you hope to be wrong? A cycle that is relatively well-known, at least by the participants, should bring more opportunities than an uptrend that continues beyond the 4 year cycle and, if you sell, a future entry point will surely be higher.
Because wrong means it keeps going up. Lol. There's always the saying that "this time it's different". Anyway, we will never know for certain so let's watch the show. Hehe.
I don't think this time will be different, but as you said, let's wait and see...
I think you won't even begin to FOMO until the market goes completely crazy. I think point, not yet. I think everyone does at some point, but not exactly to the point of selling my house (if I had one) overall, November was what everyone thought October would be.
Yep, my FOMO starting point seems pretty far away still, if I'll ever reach it this cycle. I might reach it after I take all my profits, but hopefully I won't decide to re-enter at those levels due to FOMO.
I think after everyone might take have taken profit, I think this is when the FOMO might begin, but I just think profit is profit, as it's hard to predict where and when the market will peak.
Yes, I have the same feeling, that FOMO will kick in especially after we take profits and we might think we're missing out on the gains after taking profit. But there is a reason why we take profit and why it is good to do it gradually. Because the higher the price goes, the less likely it is to not think straight and make mistakes, including to ignore or change your own strategy or plan.
Exactly. DCA. I remember doing this at some point in 2018 and it was good. Overall 2021 was the one I fully regret.
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After watching the long bear market we all have been waiting for this month and the next six to eight months will be very happy for all of us.
Time to enjoy then...
Yeah.
Those institutional people throw me off a bit. I am not sure what they plan to do because there are those that are super bullish and others like Blackrock that want to manipulate prices. It's hard to know what to do.
Happy HPUD.
We certainly can't plan our moves the same way they do because we think differently and have different priorities. But it is something to remark, that at least some of them changed from dismissing bitcoin to being super-bullish about it, partially because of the gains, partially because it gets integrated into the system they are part of and trust.
These guys have MSM in their pockets. They'll just pump the market for exit liquidity. They just FOMO cause they wanna front run retail. BTC can at least 2X from now. Once options are ready institutions can make big leveraged bets on BTC.
It is possible... Theoretically there is time, but we will see how it goes after it moves past 100k.
Not all big players will play with options and leveraged bets, but derivatives have always been a much bigger market than the support asset market.
I'm planning to not get into FOMO mood at least for the next months, and will try to make it as minimal as possible. Part of me thinks that some of these people have unshaken convictions, especially with Bitcoin. But the line between conviction and delusion can be quite thin if you look at it close enough :)
The problem with FOMO is that you can't plan when it will come or how high it will affect you. It happens at some point to all of us. You can protect to some degree from it, by removing your emotional decisions from the equation (set orders and move on).
I completely agree!
Yes, and it's quite contagious like a flu, before you know it, you've already caught the cold. I think that's a really good strategy, to set orders and move on, especially during peak market euphoria.