That escalated quickly - MINI BEAR is it here to stay?
Red red red, this is all I am seeing this morning. I am in a daze as my wife asks me simple questions about what I plan to do today.
"What?" I mutter.
"I said Would you like a coffee".
"Yes dear, that would be wonderful" as I look back towards the screen.
I have some funds in litecoin that I use to push around, I should have sold more of them off yesterday, but you don't expect a 25% drawdown overnight.... until it comes.
I have done my best, to prepare for this, I remember 2017. The heart aches, the checking of the prices so many times per day. This time will be different I said.
First, I started the cashout pipeline long ago. More than a year ago I bought a car. And over the last year I have made deals to buy 3 pieces of land. And don't forget the wonderful bathroom that we are building.
So I have specific goals other than 'number go up'. I have been learning to take profits for years. It doesn't hurt so much when you have a plan and you've been expecting it.
But psychology still sets in.
I did sell some this morning. Just in case, I need that pipeline to stay full a little while longer. But we are close to the end in any case, no matter what happens, its all going to be okay.
I never committed more than a portion of my portfolio. I have worked to control my greed in this way. HP (staking HIVE) helps a lot, as I can have this committed to other things and not available for speculating or routing - neither fomo nor fud.
ZeroHedge shows the 50k stoploss being liquidated:
It also shows how some people are reacting to this, such as El Salvador's president Nayib Bukele. I guess I have never seen a head of state trading on the open market as part of financial and foreign policy. But this is the modern age:
In fact, I think very little of the trappings of 'president' in the old victorian world, I think a president should probably talk to the people about what really matters. And for Bukele at least, that is Bitcoin.
I don't think we are through the cycle yet. There's more to come, we just don't know how it will look. And even if we head into a bear from here, we didn't have a blow off top, which means the bear cannot be as deep as it would otherwise have been.
I am happy to have used rational position sizing in my portfolio, having started to move into stable coins way before I thought I saw the top, because honestly I haven't seen the top yet, even though several contenders have emerged.
Keep learning, keep growing, keep building -