Days like these is why I ❤️ being in crypto

2TSj...cEUn

5 Aug 2024

109

Oh My Gold,
Thank you for being such a boring asset on days like these!
Thank you crypto for bleeding more and you did the last 18 months.

My Thank You Note To Me

Days like today call for a little thank you note to myself and diversifying.
My fiat and gold look fine.
But when it comes to crypto, I feel even better for not being a DCA monkey. We have been above 60K for most of the year, and my fingers have been itching. But I did not buy, or at least I did not move any fiat into crypto.

That is why I want to thank myself and I woke up feeling like;
Stocks and crypto blew up overnight and I don´t think it´s over yet. The US market still is in weekend mode and I doubt that they will buy the dip.
I expect them to be more like this Lark:
Overly invested and not diversified enough to withstand this Bloody Black Monday.

The Reason Why

If you are a bit into the market you know what triggered this crazy 3-day sell-off:

US Jobs dumped, and everyone crying recession.
Israel playing Comando up in what they consider their backyard, which will probably blow up in their face.
And then the cherry on the cake, Japan changing rates on their cheap-to-borrow Yen causing a lot of Asian investors to pull out.

Oh and some people actually care about the next US president and that it might not be Trump.
We have been screaming recession because we wanted the US to cut rates, but when it happens you all sell?

Please let those overly excited governments in that pressure cooker part of the world do what they have to, both sides are insane for allowing this to drag on if you ask me, and war is good for the economy.

And Japan, doing what they need to do, causing this nice little black swan event I have been praying for, no not really I only pray for mo money and mo girls.
Of course, this hurts, but it had to happen and better to get it over with. Because the money printers now need to go brrrrrrr again.

My Plan

A few weeks ago I wrote that post saying I did put some fiat up at 55K BTC because it´s the bottom. And that the next time would be at 50K, which we hit an hour ago and I bought yes I moved fiat into crypto.
Right now we will see a little bounce, but I think we could go at least to 48K if not 45K BTC before the hurting stops and I have my fiat on the exchange, ready to buy the panic.
This smells so good!

Bikini Bottom Line

This is why I don´t go all in on one market.
This is why I do not DCA.
This is why I train my itching fingers to be patient.
This is when you need baby balls of steel.

This is why you should not invest more than you are willing to lose.

Four years ago we had the Covid crash coming from Wuhan China.
Next cycle, four years later we have the Yen Crash coming from Japan.

You all should know what happened after that panic crash, but for those with less than one brain cell let me draw you a picture;
I gotta agree with Max, Fiat is going to zero, but be sure to buy wisely, spread the risks, and not be cashless till cash = toilet paper.

This is why I love being in crypto!

Note To The Curious
Before you ask:
COTI
BTC
ETH
ENS
FTM
OM
Still betting on ETH ETFs, Sonic, and RWA!

Thank goodness you made it till the end Pees, Love and I am out of here!