Bull Run Blackmore ©️ ⚡️
Bull Run Blackmore ©️ ⚡️ 2 minutes reading from Bitcoin

I Survived a Panic Sell-Off. Now it’s Time for Relief

It’s really strange I entered this space spring/summer 2020

Fully onboard with the macro models for BTC 100% track record of certain behaviours etc

But now we don’t have those 100% track records and it can behave differently

Basically my conviction as a total noob was higher, than it is now with 2 years in the market

I didn’t even do TA then but was clear as day on the R/R, everything was rekt from a panic sell off and was easy to take the risk and dive in with a bank loan

Looking at the state of the world now, a 13 year bull run for trad-fi and also Bitcoin, it’s hard to see the bull thesis currently mid bear market

A bear market which currently has shown no sign of a swift recovery

A relief run to 24-25k will be welcome but that can…

Still lead to a return back to 19k for a total range grind long term

Just because the RSI or this other score looked like this the last two times in a clear macro bull market, does not mean it’s the same now

What if the RSI returns to the low? All new behaviour?

To many are focused on the ultra bull / ultra bear case

I believe trad-fi will be in for a recession style market after we get some relief (IF we get it, betting on the mid term rally for that)

But no idea what that means for Bitcoin because it’s not done a recession yet

We all hope and would like to see that in a recession it performs better than other markets whilst currencies hyper inflate and debase

That’s what it was created for and we are surely on the brink of monetary systems/values collapsing

Going to be interesting 👌🏽

This post is based on this twitter thread.

Comments

Please login to comment.