“The currency for AI is crypto.” ~CZ
Humans generate 300 trillion tokens a day. Soon, AI will generate 10× that.
As AI begins trading with AI, and blockchain secures data and payments, productivity decouples from population.
CZ predicts GDP may no longer be tied to people.
$5,000 investments that are worth +$1 million:
Bitcoin: 9 yrs ago
Nvidia: 10 yrs ago
Tesla: 14 yrs ago
Netflix: 16 yrs ago
Apple: 20 yrs ago
Amazon: 22 yrs ago
Starbucks: 32 yrs ago
Microsoft: 33 yrs ago
Costco: 35 yrs ago
Nike: 37 yrs ago
Walmart: 40 yrs ago
Disney: 50 yrs ago
Why did Bitcoin and Altcoins Crash ?
The last 24 hours were brutal for the crypto market as BTC crashed below $60k while alts crashed 30%–50%.
The primary reason behind this crash was the Iran drone attack on Israel.
During a war, commodities like oil and gold rise in value, which results in high inflation.
High inflation means no rate cuts, which is bearish for stocks and crypto.
This is why crypto sold off heavily yesterday, as people anticipated that this war could lead to high inflation, which would result in no rate cuts.
Once BTC and alts started crashing, those who had high leverage positions open started getting liquidated, which resulted in more forced selling.
Something similar happened during Covid in March 2020, Russia Ukraine war when the market panic sold and then rebounded within a month
As per some media sites, Iran already made their allies aware in advance
This means that the cartel were already ready for this dump
They just waited till the weekend as there was low volume and then crashed the market
After market started panic selling, they bought the dip as usual which resulted in a quick bounce
The lesson here is to avoid leveraged trades and keep your portfolio in spot.
This is the best way to maximize your gains while keeping your risks to a minimum.
Right now, BTC is trading above $63k with a strong support at $60k level
If $60k level don't hold, there is a strong support level at $56k - $58k where most of the new whales (ETF buyers) have bought their BTC
Keep in mind that after every black swan event, the crypto market has witnessed parabolic runs and the same will happen this time too
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Just woke up and realised I got liquidated overnight.
I was 3x long PEPE.
I lost everything I had.
I don't even have $1000 in my bank account but had $1M in binance.
I have been in crypto since 2017.
Today I lost everything.
Feel like doing suicide 😭😭
$PEPE $BTC
Why Is #Bitcoin Dumping ?
1) Grayscale Redemption
In the past 2 days, Bitcoin ETFs have seen net outflow of over $500M
Grayscale had a new outflow of $1.1 billion in the last 2 days which explains the selling
2) FOMC Meeting Decision
Today is FOMC day and Powell will speak
Recently, Bank of Japan raised their interest rate for the 1st time in 17 years which is leading to the sell off
If Powell sounds dovish in the meeting, the market can resume its upward momentum otherwise there can be few more red candles
3) Tax Season
Right now, there is tax season going on in the US where investors usually sell their assets
Given that BTC has been one of the best performing asset, it's highly likely that big investors are taking profits
Don't forget that we're still in a bull market
BlackRock and Fidelity is still accumulating BTC
Halving has still not happened
Rate cuts will happen in 2024
Bitcoin will be back above $70k soon
This was a pending 20% correction
coz remember we pumped hard from
$28k to $73k.
Stop panicking and selling your coins
to Blackrock and other whales.
We are in a Bull market, come out of
you bear market PTSD coz 100x gains
are coming.
If you want to become a millionaire in
crypto, read this full post.
I bought $BTC at $15,900 and loaded
alts $ICP, $LINK , $DOT , $SOL when
FTX & FTT collapsed,
LUNA went to $0,
Binance had a bank run,
USDC de-pegged and
everyone said bitcoin is going to $10k
If I didn’t panic then why you think I
would give a fuck about 20% drop
from $73k to $62k ?
I’m up 4x - 5x on most of my high cap
positions and some even 10x because
I took the risk and bought the dips
when 99% of people were panicking
and selling like crazy coz they thought
it’s all going to $0. Thing is that’s what
whales want you to believe that we
are going down and so they can shake
you out and load their bags before
pumping them hard.
In my 8 years in crypto one thing I
have learned is buy the PANIC coz
that’s when most gains are made.
I bought Nov 2022 peak bear market,
just held all the spot positions and
now my portfolio is 4x - 5x. No trading
no leverage, just pure hodling.
Buy when everyone is panicking
Sell where everyone is bullish.
Hit like if you found this post useful.
I will always try my best to provide the
genuine opinions.