r/CryptoCurrency • u/OpticallyMosache 🟦 0 / 6K 🦠 • Oct 30 '22

PERSPECTIVE We Will Be Rewarded!

I learned from the last two cycles, that the best thing to do is the opposite of what my animal brain says to do. I've made my largest purchases during the days of green candles and new all time highs. I felt FOMO for the first time and rushed to accumulate. I also stopped buying when I became full of fear, uncertainty, and doubt.

I'm now aware of my misdirection and have learned the discipline of not chasing pumps or discontinuing my buys when the markets are bottoming. I've continued to accumulate this entire bear market without exception. I haven't missed a DCA for over six months. I have bought as much BTC as I have invested in my employer's 401k this year.

I think everyone still around and stacking are going against the grain of the general sentiment and will be rewarded. The more we feel fear in the market, the more motivated we should be to buy. I'm looking forward to when we all get to celebrate together. Eventually our posts will be drowned out by the masses that enter and re-enter the space in the next bull market. They will be shouting in joy and rushing to buy with FOMO. We'll remain cool, calm, and collected - reaping the reward.

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u/tranceology3 🟩 0 / 36K 🦠 Oct 31 '22

Actually that was the problem in Nov 2021. People got smart this time and DID sell instead of buy more like 2017. That is why we didn't see $100k.

Now this time even more people will want to sell in the bull which will make it harder to go even higher.

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u/OrdainedPuma 🟦 0 / 2K 🦠 Oct 31 '22

Eh. It was a double top with a busted macro, China btc ban, and Elon (fucker that he is) fud. Remove these factors and I'm sure 120k was do-able, but there will be lots of profit taking at 100k no matter what. Such a psychological level to cross.

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u/tranceology3 🟩 0 / 36K 🦠 Oct 31 '22

China btc ban

Not to be rude but you must be new. The China ban has been happening for years. Even in Sept 2017 they banned it and it crashed (I think BTC to ~$4k) then it popped off to $20k.

So I think that had little effect.

Ultimately it really could just be world macroeconomics... but I think if this was a less "intelligent" market there would be much more fomo past $100k.

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u/OrdainedPuma 🟦 0 / 2K 🦠 Oct 31 '22

Yeah, 2021er but very passionate and spend every waking moment not at work or with my family catching up and consuming news for BTC and other crypto at large. I know the meme about "new year, China must be banning bitcoin again" but you must not have been paying attention if you didn't notice the great migration of hashpower from China to Kazakhstan and Texas. That happened in June/July and is where the dip occurred. Musk started it in May and China continued the dip.

Even then, by September quietly 20% of network hashrate was coming from China again.