Crypto market shitting itself

[Harold O'brien]

I'm assuming it's because taxes are due on April 15

 

[Chinacurry]

Could be one factor, probably a lot more at work though

 

[lilxder2]

I'm assuming it's because taxes are due on April 15

yes surely all of america is pulling out money at the exact same time for taxes, and not because WW3 news are trending and people are panicing like little bitches

 

[Harold O'brien]

yes surely all of america is pulling out money at the exact same time for taxes, and not because WW3 news are trending and people are panicing like little bitches

obviously that didn't help, but it was predictably a nothingburger and the gigadump commenced before that news broke

 

[Harold O'brien]

yes surely all of america is pulling out money at the exact same time for taxes,

also you say this ironically, but this is literally what happens. assets need to be sold and portfolios rebalanced so firms have liquidity to cover taxes

 

[eduardkoopman]

Bitcoin went from 16k to 72k (aka more than 3x) with hardly any big corrections.
It's about time, for a 30%-40% drop.

 

[Seth Walsh]

I'm assuming it's because taxes are due on April 15

Due to hawkishness and the WW3 stuff

 

[eduardkoopman]

Due to hawkishness and the WW3 stuff

i would add, natural/common cycle to the list as well

 

[radicalrationalist]

just whales shaking off weak faggots and buying the dip. it'll rebound shortly then moon to 100x

 

[apocalypse]

Exactly as expected
It will quiet down for a few months
Parabolic run in Q4 after rate cuts
Buy alts in July/August

 

[eduardkoopman]

Exactly as expected
It will quiet down for a few months
Parabolic run in Q4 after rate cuts
Buy alts in July/August

I see it as such also.
Only thing worrying about this, is that there seems to be to much concensus? Of this happening. Which would or could fuck it up from happening.

I feel tempted to dump all.my alts now.

 

[apocalypse]

I see it as such also.
Only thing worrying about this, is that there seems to be to much concensus? Of this happening. Which would or could fuck it up from happening.

I feel tempted to dump all.my alts now.

You should have dumped your alts two years ago tbh
"everyone thinks it will happen so it won't happen" logic only applies at the extremes of the cycle (beginning and end), not in the middle of the cycle
The sheeple walk off a cliff at the end of the cycle but they can be right until then

 

[eduardkoopman]

You should have dumped your alts two years ago tbh

True that. But I didn't sold all my alts back than nor bitcoin. Since I didn't expect that double top pattern in late 2021, and expected 1 more jump up in december 2021 or early 2022. And than git wrecked basically.

"everyone thinks it will happen so it won't happen" logic only applies at the extremes of the cycle (beginning and end), not in the middle of the cycle

Thanks. Makes sense yeah.

The sheeple walk off a cliff at the end of the cycle but they can be right until then

 

[Seth Walsh]

I'm assuming it's because taxes are due on April 15

Only things going up are the commodity markets, dollar index is up, equities taking a dump, especially NASDAQ and NVIDIA, flows into gold. Rate cutting delays and general risk off sentiment. Tensions between Iran-Israel, and to an extent Russia-Ukraine, aren't helping things.

Also 2 dudes doing self immolation outside of US landmarks on TV, 2 months in a row isn't the best indicator of sustainability and contentment among the population.

 

[Seth Walsh]

True that. But I didn't sold all my alts back than nor bitcoin. Since I didn't expect that double top pattern in late 2021, and expected 1 more jump up in december 2021 or early 2022. And than git wrecked basically.

Thanks. Makes sense yeah.

The halving thing (which I think is complete now?) was imo one of the only things keeping crypto stable last week. Now that it's old news, I expect downtrends.

 

[eduardkoopman]

The halving thing (which I think is complete now?)

yeah, happened yesterday orso. I saw.

was imo one of the only things keeping crypto stable last week. Now that it's old news, I expect downtrends.

Yeah. Could be true.
I saw newcomers last week's, talking about the halving will cause an quick pump and so on. Asif they figured out something new, that not many people know. While it's a given fact, that should alreadylargelybe priced in by now. And historically speaking, there wasn't any significant pump short after the halving, asif it's some shock event. It usually takes some time, for the halving thing, on the supply side and miners side, to starts it's effect.
To add also. Each halving will have less effect, as before, on the supply factor.

 

[Seth Walsh]

yeah, happened yesterday orso. I saw.

Yeah. Could be true.
I saw newcomers last week's, talking about the halving will cause an quick pump and so on. Asif they figured out something new, that not many people know. While it's a given fact, that should alreadylargelybe priced in by now. And historically speaking, there wasn't any significant pump short after the halving, asif it's some shock event. It usually takes some time, for the halving thing, on the supply side and miners side, to starts it's effect.
To add also. Each halving will have less effect, as before, on the supply factor.

I'm long BCH now because it broke out of a range. My trading is pretty rules based, all the macro forecasting aside.

 

[Seth Walsh]

I'm long BCH now because it broke out of a range. My trading is pretty rules based, all the macro forecasting aside.

Price action matters the most