When Bitcoin DOESN’T Look So Attractive (Crypto Journey #15)

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Cryptos has recently become a hot topic in town, getting headlines for each new record hit … but the headlines we get today vary.


Are you a fan of National Lampoon’s “Vacation” movies?

If you were born before 1990, you may have seen at least one of these films starring Chevy Chase and Beverly D’Angelo as the couple Clark and Ellen Griswald. This is a franchise that lasted from 1983 to the restart in 2015.

If you’re a 1980s kid like me, these movies probably occupy a special place in your mind.

Well, each one has become increasingly horny, but all of them have their own benefits and are still uniquely interesting.

We’re in the holiday season and “Christmas Vacation” may seem like the most appropriate movie to refer to …

But instead, I always wanted to share something about “Vegas Vacation” that I found interesting, and I’ll soon see why.

In the movie, during a family trip to Sin City, Clark becomes a degenerate gambler and is obsessed with chasing victory at the casino. The problem is that you keep coming across Marty, a blackjack dealer who looks like Clark’s unlucky charm, and keeps defeating Clark and taking money.

Clark Griswold Gambling

At some point, Marty seems to be merciful to Clark, spitting out this iconic line. Here’s an idea … Will you give me half the money you were trying to bet on? We’ll be back, I’ll kick you with n ** s, and we call it a day! “

pain…

Now, if you decide to buy cryptocurrencies in the last few months, today you will probably feel that Clark Griswald is against Marty.

Since Friday, the full crypto has been bombarded … and the people who hold them are hurt from some kicks under the belt.

A quick kick to the figurative crotch

By Monday, the reality was that something was wrong in the crypto world. Bitcoin fell almost 5% yesterday!

Some crypto investors started with hope this week, but it seems that Monday was much more than what they got over the weekend.At some point Bitcoin lost more than 1/5NS Of its value.

Talk about the bitter medicine you swallow …

Looking at the ciphers for the past few days was like watching a car accident in slow motion. Only you and your money are in the car, and the volatile economy shows a very stable wall.

Car Crash

Bitcoin futures returned to more than two months ago after witnessing a record $ 69,000 on November 10th last weekend.NS..

And who is it? What could have caused this?

Same criminal as usual: it criticized the COVID-19 virus.

Consensus on the fall of the weekend has blamed concerns about the Omicron variant of COVID and the significant departure from high-risk assets in all markets due to the declining trading liquidity that tends to plague cryptocurrencies over the weekend.

Matt Dipp, Cryptographic Fund Director at Stackfunds, said: The strength of Bitcoin commonly seen after these catastrophic days is not seen. “

That’s not true …

As we are talking, Bitcoin is heading south — and it doesn’t look like things will get better soon. Divs agrees, “The leveraged market has been completely reset and the open interest in the leveraged market has been completely reset.”

So what are you going to do?

But you can see it for yourself.

On all exchanges on both crypto data platforms, the total number of futures contracts held by market participants at the end of the trading day was $ 16.5 billion.

Futures contracts were stable at $ 23.5 billion last Thursday, returning to a record day, with futures contracts reaching $ 27 billion at one point.

Seriously look at this chart:

Crypto Takes a Tumble Chart

Now, there are two ways to see all this.

First, looking at the genocide in the last few weeks, “No! Cryptography is too dangerous for me. I want to stick to something that uses understandable indicators.”

Or you can go all the contrarian and say, “Wow, now is the best time to get and start getting low-priced stocks when you’re stealing them.” ..

It all depends on who you are as a person.

Are you a risk taker? Or do you want to play safely?

I’m a risk taker. It is always done. My life choices have added a lot of white hair to my mother’s and grandmother’s heads — so you’re sure I’ll see this drop as a good one.

That said, before pulling the trigger, you might wait a little longer to see if it gets even lower. Then you can track it.

I might risk … but my mom didn’t raise a fool. If I can get it cheaper, I will.

Man, I honestly love the fact that we are learning about these things. There is a lot to learn! It’s like getting a whole new financial education.

So far it’s a vehicle. I’m looking forward to where this goes!

“Distinguishing winners and losers at the Grand Master level is a willingness to do unthinkable things. Great strategy is certainly a matter of intelligence, but undaring intelligence is not enough. Explode the game and play against each other. We need the courage to overturn the other person’s thoughts and make them uneasy by doing so. ” – Garry Kasparov

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