Damn, Chartbuddy hit 5 consecutive posts with a break of 2 WOs posting & now another 3 in a row.
Definite boring price action right now. Were in no mans land arent we. $30,000 is the new $6,000 from the last bear market?
That's one of the BIG QUESTIONS LFC.
Is $30k the new $6k?
or
Is $30k the new $4k?
Has the BIG dip already happened or not?
Surely, we should attempt to prepare for either scenario, and likely most of the longer term bitcoiners are prepared for either of those scenarios, but surely there are folks out there who are not prepared for either scenario.
The newbies, no coiners, low coiners are likely not prepared for UPpity...
and
there are likely some decently longer term bitcoiners who may likely have not prepared for DOWNity... and have run out of cash.. and are really ONLY prepared for UP.
Many of us speculate that even in the better of scenarios, it can take a decent amount of time to either get a bounce back or reverse course - meaning return to UPpity from the place where we are at currently.
None of the scenarios are guaranteed, and I hate to suggest that anyone prepare for further down.
I suppose the term HODL does come to mind for those who are prepared for UP, and may well have been prepared for UP since the mid-to-upper $40ks, so in several of those kinds of cases, there may well have been some running out of fiat that had gone back quite a ways.. so the soundest of advice may well be to just HODL in such circumstances... and whether someone in a HODL position is able to continue to generate cashflow may well affect whether s/he is able to build up more cash reserves - in the event that more cash reserves might be needed in our short-to-medium term future.
Running out of cash and then not being able to generate more cash.... would likely be the more stressful of positions that would become more stressful if bitcoin and/or other assets continue to go down in price and still no cash. what to do? what to do?
Maybe you can see where I am going with this? There can be quite a BIG incentive for bears to continue to push -when they might recognize that several peeps are already stressed.. and then when further down comes people end up doing the opposite of what they should have been doing (which is selling on the way down) because do not have enough cash.. they have not had enough time to generate more cash since the last dumpening, and because of their situation, they are largely ONLY prepared for UP... so then some of the last down pushes end up getting a few more folks to part themselves with their lillie fiend - perhaps at a loss by then (if not a much lower price that could still be in profits.. but just less profits.. or maybe just breaking even.. as mindrust proclaimed that his position had been)..
I am not even saying that I know exactly how to play these kinds of situations, except maybe that any of us likely just need to reflect upon if our current set up is sufficient for a variety of scenarios.. including uncomfortable ones that may or may not end up playing out.. Do I sound like a FUD spreader now? Where's Majormax when we need him?
