Losing your damn minds

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So, here's the monthly bitcoin chart. Bitcoin is sitting back over 10k and people see to be losing their damn minds. I see it on twitter and on discord. People appear to be totally freaking out over this move. In fairness, it's going against the overall trend we've seen since the top of the bull market back in 2018.

The real point though is that I haven't seen this much crypto excitement in 2+ years. It would be hard to say that the "bull market has started" with just the one green candle above the multi year resistance, but that doesn't stop the people.

"this is the last time we'll ever see bitcoin below 10k" is already getting said (non-ironically).

Anyway. If you're thinking about taking the plunge you should research dollar cost averaging. it means you don't throw in all your money at once, but you consider what you want to risk and enter the market with it over time.

It can be hard to keep the fiat in your wallet if it's burning a hole in your pocket to turn into crypto, but if you're gonna play the game you should at least try to learn strategies around risk management, money management, and how to not lose everything in a single trade.

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People seem to have lost their minds months ago, due to what I like to call "The Thing" and all the hype and fear mongering around it. I prefer to lose my mind over this but I sure get your point.

People seem to love round numbers. When I checked the market, just now, I saw BTC at 8700 and something. I had it set to Euros, not US Dollars. That number isn't exciting at all, I have to admit. 10k is.

Time will tell what is going to happen ( as is always the case ) but I don't 'mind' being a little excited, won't lose mine though.

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I confirm I lost my mind too. Invested all my remaining cash position a few days ago.

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The real point though is that I haven't seen this much crypto excitement in 2+ years. It would be hard to say that the "bull market has started" with just the one green candle above the multi year resistance, but that doesn't stop the people.

I agree with this totally =)

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Totally agree... I sell all my BTC today and move to buy $Hive. Wish in closed day will receive my ROI 😅

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If you're thinking about taking the plunge you should research dollar cost averaging.

Definitely, dollar cost averaging is the best way for most people to invest. Low stress and reliable.

If anyone is looking to sign up for Swan Bitcoin, which allows recurring BTC buys with lower fees than Coinbase or other apps (U.S. only), my referral link is https://www.swanbitcoin.com/dhimmel/. I think the link gives you $10 of BTC compared to nothing for a referral-less signup.

For Swan Bitcoin, I recommend the Pay as You Go option whose fees are 1.19 %. If you prepay fees a year in advance, then you can get a better rate at 0.99 %. But I want the option to pause DCA purchases should the BTC price exceed all time highs. And if you prepay fees, you could end up forfeiting those fees in the prepay situation.

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Strong resistance at 10.8k, likely a pull back to 8-9k, but we'll see ;)

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Good advise dear @aggroed

I think that this effect will as well hit other token and hopefully as well hive.

Greetz and a !BEER for you.

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"this is the last time we'll ever see bitcoin below 10k"

How many times have we heard that? On the other hand, What we really are seeing is the U.S. dollar going below 10,000 satoshis.

When the Fed doubled the supply of dollars, I expected the value of each dollar to go down significantly. When most people were awarded Hive backed Dollars as part of the fork, I also expected the dollars to fall like this. Last year at about this time of year, BTC was 10k Canadian dollars.

https://www.steemfiles.com/ticker

In thought experiments, the prices of everything doubles in price, and so we just end up with the same spending and economics but with the numbers doubled after doubling the money supply, but in reality there is a delay from when the doubling happens of the money supply and the corresponding pricing goes up for everything.

I have an Austrian economics mindset, but I see no benefit on using the minority definition for inflation, so I wont. It takes time for the money supply creation to take effect. It's effect over the longer term is inflation, but how long is the 'longer term'?

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I just summed up my crypto investments and it turns down all the crypto currencies I hold appreciated the same amount that my Splinterlands cards lost in value. Could be a total coincidence, but could also mean that Splinterland card buying behaviour is somehow (invertedly) coupled with the BTC/ETH prices.

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Aint seen nothin yet...wait til BTC crosses and holds 10500. The fireworks will be epic.

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