Dirk| Intelligent Cryptocurrency
Dirk| Intelligent Cryptocurrency 3 minutes reading from Bitcoin

11 Cryptocurrencies That Can’t Exist [Yet]

1) As bad as this is guys (and it's pretty bad), I've been here since 2017 and this is still pretty much the same as the 2018 capitulation. Drawdown wise 14k BTC and 500 ETH match 2018. And it's also the exact same time 4 years later to capitulate.

2) Market conditions are a bit different in the sense that a MAJOR exchange just went under and a lot more contagion is possible, but back in 2018 things were just as bad and we actually didn't know if crypto would ever recover then either.

3) I can feel the anger and pain on this last drop and that makes me think it's probably part of the final capitulation here (although we can still go lower, 12k, 10k maybe who knows).

4)The final bear capitulation ends up becoming the ultimate buying opportunity for those who are prepared, just like Nov 2018 was, just like March 2020 was. There's never guarantees so the key here is to not overextend and manage risk.

5) There is also no need to overextend or fomo as when we get another bull market there is 12+ months of upwards move and plenty of potential for 10-30x or more on many coins. No need to take oversized risk imo

6)I believe crypto and digital assets are here to stay, but of course the landscape continues to change. The markets will flush out the greedy and the unprepared and then will allow for new innovation and recovery again.

7)Regulation will come that is for sure, and I think it needs to so we can avoid this from happening in future. Exchanges should be held to very high standards and should not be able to trade with customer funds under any circumstance imo

8) And we need to stop with all the scams and garbage in this space imo. Which I think regulation will help with over time. So be careful which coins you buy and invest in, many will probably not recover or survive.

9) Also learn from last cycle that BTC is king and is usually the first to recover again, with less drawdown than most altcoins.

10) Above all remember that money is just a made up concept and no matter if you lost big or not, you can always make more money again. Take care of your health and wellbeing. That is most important.

11) My dm's are open if you want to reach out or talk feel free. We're in this together and I don't believe this is the end or crypto. Next bull market we'll look back on these times and be proud we made it through. ❤️

This post is based on this twitter thread.

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