Hi folks!
It should be very clear to every investor that it is time to sell risky assets when you see even riskier assets starts exploding due to pure manic speculation - that is, if you are a long term investor.
As you all know, this manic speculation is what we have seen in the last months, and I believe we need a serious wipe out of these bullshit assets (as in every bubble) before
taking a big position in great projects like Cardano, Polkadot and Internet Computer.
To me, this bounce looks very much like a Dead Cat Bounce, and most interesting assets (BTC , ETH, ADA, DOT, ICP , FIL) looks to develop a bearish divergence on the 1h ATM if we see a higher high from this point.
My take is that if you play the long game and are not already all in, just wait until you see the wipe out before placing a BIG chunk.
For the record, I am a strong believer in DeFi - or at least a much more democratic and much less discriminatory financial system - but to get there, the crypto space must be regulated
in a way that protects against scams and high leverage trading for the world to focus on understanding the technology rather than price speculation.
Like in every bubble, there are great assets which will thrive in the future, as market bubbles usually happen due to the excitement surrounding new ideas - but it is never a good time to invest when everything explodes if you are a HODLer.
Recall that ADA did cost 0.2 USD six months ago.
Marked short due to the fact that I believe we will get to buy it cheaper soon, although it might bounce more in the very short term*
DYOR. NFA.
It should be very clear to every investor that it is time to sell risky assets when you see even riskier assets starts exploding due to pure manic speculation - that is, if you are a long term investor.
As you all know, this manic speculation is what we have seen in the last months, and I believe we need a serious wipe out of these bullshit assets (as in every bubble) before
taking a big position in great projects like Cardano, Polkadot and Internet Computer.
To me, this bounce looks very much like a Dead Cat Bounce, and most interesting assets (BTC , ETH, ADA, DOT, ICP , FIL) looks to develop a bearish divergence on the 1h ATM if we see a higher high from this point.
My take is that if you play the long game and are not already all in, just wait until you see the wipe out before placing a BIG chunk.
For the record, I am a strong believer in DeFi - or at least a much more democratic and much less discriminatory financial system - but to get there, the crypto space must be regulated
in a way that protects against scams and high leverage trading for the world to focus on understanding the technology rather than price speculation.
Like in every bubble, there are great assets which will thrive in the future, as market bubbles usually happen due to the excitement surrounding new ideas - but it is never a good time to invest when everything explodes if you are a HODLer.
Recall that ADA did cost 0.2 USD six months ago.
Marked short due to the fact that I believe we will get to buy it cheaper soon, although it might bounce more in the very short term*
DYOR. NFA.