Bitcoin

<h2 id="header-0">The first thing you need to understand is that absolutely any scenario is possible.</h2>&#x1f44d;Sometimes something that no one expects and could not even imagine can happen. No one in 2020 when Bitcoin collapsed to 3500 could imagine and it was absolutely illogical that it can grow to 69000 a year later.Just as no one believed that Bitcoin could fall lower than the previous ath. People like to look for patterns to simplify their lives and analysis. In fact, the market can be completely chaotic, but move in a given direction because it follows a given algorithm. What happens on 1 minute, 5 minutes, 1h timeframes, sooner or later be repeated on monthly and yearly time frames. That&#39;s why I don&#39;t quite understand people who imagine the beginning of a new rally somehow logical.&#x1f4ca;That is, you can notice how every time the price is at the bottom, for example in June and November 2022, people still do not have enough of an entry point, they expect a little lower, as if they are ready to buy, but they want a little lower. And they find thousands of &#34;logical&#34; reasons why this is so. Now, when the price is more than 200 days in a simple sideways movement, for every upward movement people give arguments why this cannot be and why we should fall by 27 to 25 to 23 and only then start the upward movement! And that&#39;s how every time people reject the possibility of growth for no reason, their position will be taken one step at a time. Then, already on the high marks, they will outline some imaginary level somewhere, which for them will act as a confirmation of the bull cycle, they will enter the position and lose again at the stop loss. The same story was when we fell down, we were 69, fell by 55, people opened long positions because they were waiting for 100. When from 55 fell to 45, there were also hundreds of thousands of logical explanations why it was just a correction and they opened a long position again. 45 - 40, again this is just a protracted correction. When we fell to 30, everyone said that we can&#39;t go further because this is the level of Elon Musk purchases and bitcoin cannot fall below, we fell to 25. At 25, people said that this is a very strong level and the accumulation begins before the last impulse up to 80- 100 thousand for bitcoin. When we fell to 19 people said that this is the bottom because we cannot break through the previous high. When we broke through the previous high and fell to 16, people said that it was a manipulation and we would get 12-10 thousand. I can give you free advice, try every time remember your feelings on some key level of market, remember sentiment of crowd on some levels.&#x1f4ca;There is always some distorted idea of what the market should do and what not. But just one desire and some historical patterns are not enough to make personal decisions. In the same way, there is now a stage of not accepting that we can grow further. Each level will logically explain why we should fall and only then grow. People get attached to some ephemeral dates, events like halving or the number of days, some fictional figures on graphs. Then, when this does not happen, they redraw the graph and find a logical confirmation of why it happened that way. Our task is not to catch the perfect bottom, to accept the fact that you cannot enter the perfect entry point on every asset. Accept the fact that ALL even hedge funds experience drawdowns in investments and this is normal! There is not a single investor who would never be in a drawdown in the investment portfolio. Do not confuse investment with trading.#bitcoin $btc

Bitcoin and human nature

Table of Contents

crypto4light

Other articles published on Oct 23, 2023

WLD falls 4% as Worldcoin replaces USD Coin rewards with native token for Orb operators

Doctor Pleads Guilty for Using BTC To Pay For Girlfriend’s Murder

Blockchain Association director of government relations recaps speaker candidates’ records on cry...

Snek (SNEK) Price Prediction 2024, 2025, 2030, 2040, and 2050

Gamium (GMM) Price Prediction 2024, 2025, 2030, 2040, and 2050

Halloween Gains: 3 Cryptos To Offer Spooky Good Gains This Month

Join our free newsletter for daily crypto updates!