Not The Same

There you have it folks, Bitcoin has pumped, alts have pumped, memes have pumped, and they have all dumped, game is over, it’s time to go home,….screw those etf guys and those that said it’s different this time.

for me, home is here, I’m not going anywhere. And if you’re like me, oh sit tight, only one of two things is sure, we either go back to our villages or we go to the moon.

The latter seems more interesting and as Elon Musk will always say, the best out come will be the most interesting one, need I say more? Okay, so where were we, has anyone else noticed how market close on Friday almost always mean market dump?

And when market opens on Monday, it follows with a pump, last week Monday we saw the price of Bitcoin moon pass $71k, and settled a little bit above $73k between Monday and Thursday before the following dip on Thursday evening entering Friday.

Long Monday Short Friday

I know these patterns exist but the consistency since BTC ETF approvals have come up have been staggering. Maybe it’s just me though. But the message here is clear don’t long on Thursdays, and don’t short on Mondays.

Just kidding but if there’s a chance this is a thing I’ll be so happy, lol, I just learnt to trade leverage yesterday, I deposited $10, borrowed $100 and clicked on buy long, and boom I was inside the trade, only about two seconds after, did it occur to me that it’s Friday, dumpday.

I woke up in the morning to a liquidation call. But I think I get it, don’t worry, I plan to be very responsible with it, like I am with most of my finances, mastering it will be a plus and something that could be passed on to others.

Isolated

So for what I’ve learnt so far, if I deposit $500, it means they’ll loan me $1000 which I can use to long a trade, if I win, I win with the power of one that used $800 to play the leverage instead of the $400 that i brought in. Interesting.

But if I loose, then I loose my capital. Yes it’s been around for ages but some of us like to take our time, thank you, I actually just find the system very interesting given what I already know about the market, and ofcourse I’m still going to be learning so yeah

That’s that, so I’ve been meaning to ask, how much Bitcoin does black rock need to have? Because they keeping pouring in billions of dollars almost every other week, what’s the catch?

To be or not to be

It’s a hard question to answer, but economically, the law of demand and supply says Bitcoin is a better asset to hold than fiat and even gold, Black Rocks CEO typically called it Digital gold so……therefore, the halving will matter for the price of Bitcoin due to its reduction in mineable supply.

The idea is to get in before the halving or risk getting in after the halving when demand is high and supply is low and price has doubled. Hence why so much bitcoin is being gobbled up.

The interesting thing is that Microstrategy just bought even more Bitcoin at $71k. Who am I not to be bullish.

What’s your take?

Thanks for reading.

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Posted Using InLeo Alpha