Is it the bottom? Is it wise to buy?

in #hive-1679222 years ago

Looking at crypto markets nowadays is no fun. Bitcoin has been moving inside the boring 18k-20k canal for over a month and is showing no signs of a breakout. Russia is escalating its war against Ukraine and Western countries are just doing the same. Inflation has reached unprecedented record levels and central banks around the world are pledging to keep on interest rate hikes like mad in order to fight it. Energy and food crises are looming on the horizon as winter knocks on our doors. At a time like this, it may be silly to talk about the bottom, but I think it is a question that deserves asking every now and then…

Now, to clarify, I'm not naive enough to be bullish given the current conditions, and like many others, I think that markets still have room to go lower, maybe a lot lower. One thing that has been catching my eye, however, is that we're at a stage where almost everyone around is expecting the markets to crash. If you watch crypto Youtubers, for example, you'll notice that the vast majority agree that the worst is yet to come. As I said, this is expected given the current circumstances, but if there is something that Bitcoin has taught us over its 13-year history is that it crazily tends to move against expectations. It is not just BTC either, almost all markets have the same tendency.

It is something that age-old veterans have long talked about- the likes of Warren Buffett and Baron Rothschild. While I hate to quote both but the former once said “be fearful when others are greedy, and greedy when others are fearful”, and the latter once said, “the time to buy is when there's blood in the streets”.

There is no time when there is more fear, doubt, and blood than now. So, who knows? it might be the time when one should just go against the grain. I know it is an approach that doesn't always work but believe me, it can be very rewarding when it does.

Another impressive thing is the fact that even the FED's determination to keep aggressively raising rates and even the Russian mobilization (the first since WW2) seemed to have failed to wreck the markets any further. I honestly find a hard time imagining worse news affecting the markets than what we've already seen. Perhaps, just perhaps, we standing on a solid resistance that just can't be broken anymore. Don't get me wrong, though, I'm not saying we should go all-in crypto at the moment, but I think that deploying 30-40% of your long-term investment portfolio to buy Bitcoin&crypto at the current price may turn out to be a very wise decision. Even if it dips further, then we have another 60-70% to keep buying at even lower prices. (NOT FINANCIAL ADVICE)


What do you guys think? Is it the bottom already?
I’m keen to read your opinions and thoughts…


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Bottom will be reached in January 2023. The main reason is Europe's energy crisis, which will be a buzz kill for the economy. The strongest indicator will be how bad the Christmas business will be. Is it going to be just terrible, will it be abysmal or is it going to apocalyptic? I think the general mood deciding about 2023 will be between will crystalize between Christmas and New Year's Eve.

I think you're right that we can't bet on a major rebound in the remaining two months of 2022, so let's at least hope next year brings some good news.

Hello my friend.

It is really hard to say if this is the bottom or still missing, bad news is already common day after day, the good thing is that we see that it does not affect BTC and the crypto market as it only half moves the price of it and recovers hours later, which for me are good signs of being a market with winds of recovery.

I think we are in the best buying zone, even though the price may drop a little more due to the instabilities of the war and the macroeconomic context, the bearish cycle is already burning its last cartridges. Thank you @qsyal for sharing this kind of content.