0 sats \ 1 reply \ @tmoney 6 Oct 2023 \ on: Get your 🌽 off exchanges. Mid-October liquidity crisis! bitcoin
Mentally prepare yourself for lower prices. Be ready to deploy capital at lower prices, not now!
Good sentiment overall, but no one knows what the price will do. If you're so confident then short bitcoin :)
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0 sats \ 0 replies \ @blocktock OP 6 Oct 2023
Appreciate the comment and do agree with you. Nothing is certain.
To clarify, that chart is not representative of Bitcoin's history but of all US equity markets. Bitcoin doesn't need to go down like that. I remain unconvinced it is correlated. Shorting Bitcoin is not the way to play this. If you wish to speculate, you short the worst and most inflated equities with a tiny proportion of your net worth.
I may be proven wrong on timing and severity but some other pointers:
  • The Fed president (James Bullard) left 4 months before the end of his natural tenure. Exactly what happened to Mishkin in 2008, with 4 months to go.
  • Nasdaq CEOs are cashing out their own stocks at record pace.
  • M2 is in reverse.
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