Are We Still Bearish?
I got lot of questions like "what are your thoughts about the recent run? are you still bearish?"
Well its not that i'm bearish i'm just very cautious and maybe too cautious but all in all since early 2017 when i entered the space ive seen alot of shady movement and money sucking ICOs with no true business structure and after the bitconnect, hash flare and other bitcoin thieves that ive seen through social media it led me to become more analytical and work behind the TAs to build my own fundamentals in specific micromovements and market psychological behaviors.
We all know that TAs and other common market fundamentals were useless in 2016 - 2017 as we saw how Bitcoin turned belly side up. I saw that coming while others taught otherwise, i'm a true believer in that a proper business model along with true adoption from its followers is what creates trust, solid figures in earnings reports and therefore a real profitable outcome with that asset, commodity or store of value such as crypto "BTC".
In my opinion being bullish is great but extreme bullishness when uncontrollable as we saw in Q3/Q4 2017 ultimately leads to greed, mistakes and substantial losses that can be costly, no one wants to miss the train but when I personally see such an extreme parabolic move up with no proper retrenchment in between then that tells me that greed settled in and paired up with FOMO which in turn becomes a riskier investment for that investor and gives them a false sense of monetary power and feeds into their greed which then causes them to lose touch with reality and end up in the negative. Now don't get me wrong, this behavior can sometimes work in favor for a few wild risk takers and put some good profits in their portfolio but i'm definitely not one of them. I like to execute with proper risk management and i'm not going to jump on a train with no brakes because it will eventually need to stop and when it does it can be catastrophic if the train steers off course.
I am still expecting bitcoin to remain bullish but i'm definitely playing it safe, everyone here will do whats best for them and lucky for us all we are truly blessed with the best team in this space, my WT Partners have been very patient and are a very smart group, that's why WT will prevail above the others longterm i have no doubt, but i am still waiting for a true catalyst not just the addition of btc to etrade and other exchanges that are currently working for the major stock market indices. Right now its just a store of value but it needs true technology with more global support and i mean investors that know what bitcoin really means for our future not all these wannabe investor kids or adults who just buy bitcoin to feel cool.
The Future is Bitcoin, the worlds currencies will lose against bitcoin, bitcoin will reign above all commodities and take down the power of central banks. As we are speaking the Stock market is getting hammered and this is a wake up call for humanity. We will encounter rough territory but the end will pay off.
Cryptolax, Whaletank Team