Late last night, I kept getting these buzzing notification sounds from various apps about BTC dipping, and when I swiped down, I saw Bybit notifications: BTC below 97k, etc., followed by Kucoin, and other apps.
It reminded me of scenes in American films where the world is experiencing an apocalypse or one evil warlord from space is attempting to destroy the earth while every TV channel is simultaneously reporting the mayhem.
Watching people fret in the midst of chaos has always been my favorite part.
I believe (we) people are not bearish enough, and this is because every minor dip agitates them.
No one wants to look into whether these dips have a historical correlation; they only want pumps, forgetting that many people are taking advantage of these dips to get in. In general, the lower the market, the more opportunities it provides for people. However, these dips have a negative impact on those who are already locked in.
In reality,pumps, pumps pumps are unsustainable however, we fail to see these because of the latest worrying narratives about crypto in this this cycle.
Kamala Over Trump
For example, "memes are oversaturating the market, alts have become excessive, and many people are focusing on BTC". Honestly, I believe these narratives would have been even worse if Kamala Harris had won the elections.
In reality, many people believed prior to the election that if Kamala won, there would be no bull run, and now that Trump has won, launching a meme coin means no alt season. There is always a sentimental explanation for why there are dips, and we tend to find reasons why 2025 may be worse off than 2021.
Although I agree that Trump's and his wife's utility-less coin is a slap in the face of crypto, he never promised anyone that he would pump BTC to 300k; he only promised to be a crypto president, including lowering Fed rates and so on, but so far, sentiments are shifting, and the new narrative/sentiment is that Donald Trump may not be good for crypto after all.
I mean, look at how sentiments can change quickly. Crypto Twitter was certain that Trump was the next big thing after slice bread, but with the current downturn and uncertainty, people are starting to think differently.
That's what a market dip can do to you. The market messes with our minds so badly that we sometimes act on impulse.
The Dip May. Get Badder
For example, dipping to 97k from 104k was not a significant drop for BTC; I understand that alts experience larger drops, but I am curious what happens if BTC drops to 75k from 104k.
Speaking of mind-bending crashes, I saw a tweet today where someone was predicting that BTC would drop to 70k before rising to 250k, and everyone has been busy quoting this tweet because it is bearish but still finds a way to be bullish.
In reality, tweets like this are what put people on edge, exacerbating their uncertainty. I mean, people seems more bearish nowadays than they did 18 months ago, and that's probably because of the anticipation of where we should have been by now.
Personally, I do not believe BTC will fall below 70k this year, and I do not believe BTC will reach 250k, but all we can do is conduct technical analysis, and it is up to the market to react as it sees fit, but I still believe many corrections and dips will occur in the next one or two months.
In 2017, the market was relatively drab for a long time before rapidly escalating. We cannot always bring in history when talking crypto, but that is mostly what we have to rely on when doing TAs.
Are we going to see more dumps?
I am counting on it because constant pumps will make you regret not having enough buying opportunities. That being said, I am interested in seeing how this bull run year pans out.
Whatever it brings, we can only hope it will be bigger than 2021. I believe a drop to 85 to 90k would completely destroy alts for the time being, and that could be the final lap or not.
In reality, I believe we will see some large dumps and then the guns will come out. As for why crypto is shit and altcoin season never happens, I believe many people are not bearish enough until the final lap of the dump this year.
Interested in some more of my works
Is it Easy To Make Money?
Nigeria: A Unique Business Market & Industry
Virtual Bank Apps In Nigeria: An Experience Of Gamification
How To Find The Next "BIG" Meme Coin
Personal Finance: Achieving Intentional "Saving" Goals
Playing The Survival Game: Human Nature In Introspection
"Un-PAYING" The Debt You Owe
Interested in some more of my works
Is it Easy To Make Money?
Nigeria: A Unique Business Market & Industry
Virtual Bank Apps In Nigeria: An Experience Of Gamification
How To Find The Next "BIG" Meme Coin
Personal Finance: Achieving Intentional "Saving" Goals
Playing The Survival Game: Human Nature In Introspection
"Un-PAYING" The Debt You Owe
