Why are you NOT the rich?
Because the rich think differently from you during the bear market
You make most of your money in a bear market
โ You just donโt realize it at the Time
As pointed out by Chris Davis above, the bear market can be your life-changing moment to accumulate wealth
John Templeton's famous quote echoes a similar view:
Bull markets are born on pessimism
They grow on skepticism
They mature on optimism, and they die in euphoria
When you are pessimistic, you think we are in a bear market
Instead, you should be thinking:
We are in the birth of a bull market
So, what are you doing in the bear market?
*Chris Dav is the Chairman of Davis Advisors, an independent investment management firm with around $20 billion in AUM and he is on the Board of Directors for Berkshire Hathaway
Source: davisetfs . com
For $BTC to form a true bottom, it historically needs to touch the monthly 45-MA EVERY SINGLE TIME.
โข The bad news: It dropped to the 45-MA.
โข The good news: It dropped to the 45-MA.
One of the key conditions to form a bottom for this bear run has officially been fulfilled.
Moving forward, this looks like an excellent zone to DCA for the long term.
To establish an even more solid floor, we will likely see a quick liquidation of long positions to flush out the market, potentially dropping to the August 2024 low of $49,5xx.
If we hit that level, I am planning to sell everything I can to buy more Bitcoin.
To form a bottom for $BTC, it needs to touch the monthly 45-MA every time.
In February, it did not touch the 45-MA. The low was $59,9xx, while the 45-MA was at $58,9xx.
It did not touch the monthly 45-MA.
But not to worry because the 45-MA is keeping its upward momentum. It is now at $62,4xx and will probably hit around $64,xxx next month.
To form a bottom for $BTC, it needs to touch the monthly 45-MA every time.
In February, it did not touch the 45-MA. The low was $59,9xx, while the 45-MA was at $58,9xx.
It did not touch the monthly 45-MA.
But not to worry because the 45-MA is keeping its upward momentum. It is now at $62,4xx and will probably hit around $64,xxx next month.
@WatcherGuru I actually love her when I need more time to accumulate crypto at a lower price.
She plays an important role.
It must be a difficult job, having to be that creative just to find a justification for her 'argument.'
@CoinDesk@BoredApeYC Building the infrastructure (ApeChain) and then providing the immediate application (the Marketplace) is how you actually drive network adoption. This is how you turn a 'collection' into an economy.
BREAKING: ๐บ๐ธ US SECRETARY OF WAR JUST OPENLY REVEALED THAT THEY ARE NOW RUNNING INITIATIVES TO GAIN A STRATEGIC ADVANTAGE IN BITCOIN ๐คฏ
HE AGREED THAT BITCOIN IS NOW A MATTER OF NATIONAL SECURITY
THIS IS ABSOLUTELY MASSIVE, AND EVERY COUNTRY WILL FOLLOW