A good time to retweet this now that 74k has been broken and we are seeing one of the more violent corrections on $BTC that we have seen in a long time.
A few things I think it's important to remember during times like this:
FIRST: Panicking and reacting emotionally is never going to help things. I've been through every major correction/downturn since 2017 and some of them have been pretty damn bad. At the end of the day, none of them led to "the end of crypto" and this one isn't going to do that either. Focus on the charts, not narratives, and analyze the situation as you would under "normal" circumstances, letting technicals guide your decisions rather than emotion.
SECOND: It's worth pointing out- that even in 2017, we fell 50% from our highs in a single week- the most devastating correction we had ever seen in the history of Bitcoin (at that time). During this 50% drop, total altcoin marketcap ALSO fell 50% in this same window, meaning alts took a hit on the way down with BTC as well. However, after $BTC hit 10k and saw a 50% deadcat bounce- altcoin marketcap didn't just bounce 50% back it literally went on to make new ATH's, going 3x off the lows and sending many alts up 5x, 10x or even more. So don't assume that this large correction means your "alts are dead". Bottomed out alts are still bottomed out, and this correction doesn't change that.
THIRD: While people may agree or disagree on what constitutes a "cycle top" or a "bear market, one thing pretty much everyone I think agrees on is that parabolic, blow off tops lead to the largest, most devastating corrections when they complete- and we did not get a blow off top in the current instance. Which means, this ensuing correction- while brutal, could have been significantly worse, and likely won't be nearly as bad as many are saying it will be (that is the fear, panic and emotions talking).
So, keep calm, don't panic, read the post below and watch my latest Youtube vid (pinned tweet) if you'd like to see some potential ways this correction may resolve (also tune in for Part 2 on alts which will be released soon) and let the market settle before jumping to conclusions/decisions that you may regret later.
When Bitcoin hits $100,000 I will give 1 BTC to one person who follows me.
The rules are simple:
- like this tweet, follow me and RT
- comment “100k incoming”
Let’s go! $BTC #bitcoin
.@realDonaldTrump, Congratulations!
Some fodder for your first 100-day checklist to get things moving:
- Fire Gensler. Day 1, no delays.
- In his place, appoint Giancarlo, Brooks, or Gallagher – they’d be massive upgrades in rebuilding the rule of law (and reputation) at the SEC.
- Host a family dinner and get the Rs and Ds moving the digital asset market structure bill forward in the Senate.
- And last but not least, can we get some clarity…..similar to XRP and BTC, that ETH is not security, right?!
Not everyone wants you to get better.
Sometimes people feel threatened.
Your success or emotional health is a reminder of what they lack.
They benefited from “sick” you.
Heal anyway.
XRP is not a security.
This victory for @Ripple is a win for the entire industry and a step toward regulatory clarity in the U.S.
A huge thank you to @bgarlinghouse, @chrislarsensf, and @s_alderoty for their leadership and the #XRPCommunity for their continued support.