GM BS FAM ARE WE UP OR DOWN? Asking for a friend | BitEagle News on Binance Square

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GM BS FAM
ARE WE UP OR DOWN?
Asking for a friend 

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You would wonder who is selling at these levels right? When bags are basically just dust at this point, it makes no sense right? Well, I'm in dozens of chat groups, channels, on-chain trackers etc. And I can tell you that there are more people selling at 90%+ drawdowns than you would think. Buy high - sell low isn't just a meme. It's one of the favorite strategies of retail.

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🇪🇺 European Stability Mechanism chief Pierre Gramegna warns that Trump’s pro-crypto stance could threaten Europe’s monetary autonomy. He cautions that large-scale adoption of USD stablecoins could “undermine the euro’s sovereignty and financial stability.”

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This is the first time in this entire cycle that I truly see people believing it's over. Yes, many said it before but they didn't TRULY believe it yet. They still had hope it could happen eventually. Today, that hope is utterly gone. They truly believe it this time. "There will never be an altseason in the history of crypto anymore. Institutions, Trump and all other manipulation has taken care of that. We will never return" (again, these are not my words) It might be a cliché, but yes we have been here before. The true problem that confuses people is the TIMELINE. People have been saying for a year now that we have been here before and we still kept dipping and dipping (besides Oct-Nov). That's the entire thing. Feeling it's over doesn't mean we are close to being back. We can be "it's over" for many many months and sometimes even more. Despite the consensus or sentiment already being bad. Usually the exact moment "we are back" is truly when no one can see or expect it anymore (not even the experienced ones). It's often truly when everyone forgot about it and the chart only has one way to go: UP. (which also means it can be close to zero for some) Again, it's extremely likely it's NOT over. It's just the "it's down so much it can't possible go down anymore right?" feeling that messes with people. Because it can and it often will and when that happens it's 100% proof for them it's really done (which is ofcourse horrible feeling). And that's exactly when things recover. But again, we still don't know when that is. So stay safe friends

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"Why isn't the market pumping on good news" Well, Trump already revealed his hand during his campaign. Markets always behave on the premise of Reality - Expectation. That's why price moved aggressively post-election into the inauguration, and is now stalling once his *actual* promises are being delivered on. Short term, market is exhausted - that's clear. Long term, many reasons to be bullish, and the setup is clearer than ever, especially for $BTC and some majors. But short term, the market is a bit lost and will take some time to find its way (mostly macro related).

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People are always asking: "What's the next catalyst? What will we have next that will pump our bags?" - We have institutions - We have the ETF - We have the strategic reserve - We have ... Simple. We go back to adoption. Previous cycles we had none of that all and we did great. The market thrived on the idea of crypto being a revolutionary technology and us being early. That was the ONLY driver every market participant believed in. What followed after were unrealistic expectations because every institution and country was going to make us rich in less than a month and buy BILLIONS of Bitcoin. So every announcement we had that wasn't exactly this? BEARISH AF!!! It made the market worse for it. The opposite of what it once was. Reset it all and go back to what made this market great. Not having another big catalyst anymore might actually end up being the biggest catalyst of all.

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