BTC's Stronk Erection is Not "Blue Pill Caused"

Once Bitcoin reached $20,000 everyone(not really everyone) was expecting it to fall back to $16,000 because the bear market should be a multi-year one, triggered by the macroeconomic situation. What did BTC actually do? Stayed there for a few days getting his shit sorted and pushed forward.

It is currently trading at around $22,700 and who knows, maybe we would it see it touch $23,000 soon, or not... My approach towards crypto lately has been one of admitting not knowing exactly the targets shitcoins would reach in the near term but being quite sure the bottom is in.

There are quite a few big names in the crypto space such as Capo and others who were short for many months in a row and got right on these trades, cuz of the bear market(duh), but continue to be short on Bitcoin and probably lose a lot of money doing that(if they actually do what they say).

I have a simple-minded man strategy and approach though... If BTC has been in a downtrend for a bit over a year and every cycle it has bottomed about one year after the peak, why would this time be different? And especially, why would it be different when everyone is expecting to be different?

Some will argue that macroeconomics is a bit gloomy and this situation might have an impact on the markets, Bitcoin included but, seeing Google slashing 5% of its total personnel in a digital era doesn't mean much to me. We should have been expecting that. Haven't we talked for years that automation will replace human labor?

Here you have that process unfolding. If a damn A.I.-powered open for all internet page can literally write you a blog post, a news article, or even the code for an app or anything related, imagine what these giant tech companies have at work. And, seeing tech getting stronger is not a bearish sign to me. On the contrary.

The latest pump is "as natural as it can be" imo. After over a year of continuous correction, it had to happen. The rebound was there written in the skies but the psychology of the masses will never change. Believe me, there will be people who will still be saying BTC is going to $10,000 even if it touches $30,000 in the next few weeks, or months.

There will be corrections, every bull market has probably 10-12 of such retraces that could get to something like 20%-30%, who knows... The idea is that the bear market is pretty much over. I don't see BTC touching its previous ATH before the next halving in 2024 but nevertheless, the worse is behind us now.

I don't know about you but I got my unloading strategy "written on a wall" and I'm sticking to it. I will take profits as we nail these targets and I will use some of these profits for creating myself a nice HBD savings account. Meanwhile, enjoy the weekend, peeps, and see ya all next time.

Thanks for your attention,
Adrian

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