Holy fear, Batman! Every bitcoin has two conflicting voices in their ears. On the one hand, the brain tells us to calm down. Bitcoin price cuts are good because we can buy more. And the climbs shouldn’t upset us because we’re here for the long haul. On the other hand, there is also the heart. We all have a small heart that feels and vibrates with emotions and passions. And this little heart trembles with price fluctuations. A wise bitcoiner listens to his brain and keeps his heart in check. But it hasn’t been easy lately.
We’re very close to $ 10K. And many of us have a lump in our throats. A thought that this chapter was already over. But apparently the past continues to insist on haunting life. But these are times of discipline and patience. The good news is we can buy below. We have to listen to the brain and put a gag on the heart. Serenity now! Peace come to me! Om!
Now let’s talk about the most read crypto news of the week.
Peter Schiff, the well-known gold beetle, loves to fight with the crypto community. It is already evident that for him the controversy over crypto is advertising. He’s writing about Bitcoin all the time. Meet everyone. Take part in the discussions. And take part in events. You could say he’s obsessed with Bitcoin. Some might even say that he loves Bitcoin deep down.. That is, he has not come out of the closet yet and is hiding under a mask of hostility. Why do you criticize so passionately? A cat is definitely imprisoned here. Of course, Peter reminds us of the toxic relationship between Bitcoin and gold. Here we are faced with a Freudian nightmare.
Many bitcoiners use the same gold beetle narrative to criticize the dollar. They present Bitcoin and Gold as twin brothers. But the gold beetles see Bitcoin as monopoly money. This, of course, breaks the hearts of many bitcoiners. Here is a story of unrequited love. And definitely a personality disorder. Many dream that Bitcoin is like gold. And the gold beetles mock this dream.
Why do we want to be like gold now? I honestly think it’s out of necessity. Bitcoin is bitcoin. It is not an imitation of anything. The phrase “digital gold” is just a metaphor. It is not to be taken literally. We are very different from gold. There is no real correlation. We are not twin brothers. The gold market is fundamentally different from the Bitcoin market. The two communities couldn’t be more opposed. Of course, Peter will be wrong in his price predictions. All of this is so emotional that it no longer makes sense. My teeth are already aching from all the nonsense of forcing a brotherhood between Bitcoin and gold that doesn’t exist.
No need for a rocket scientist to know that when there are more sellers than buyers, the price goes down. However, that doesn’t tell us anything. Our recent decline could be due to sales of whales and miners. Why did you decide to sell now? I don’t think it was on a whim. I assume they did the math. And they thought the sale was a wise decision. Is Bitcoin overvalued at $ 11,000 to $ 12,000?
How did we get there in the first place? The euphoria of the stimuli. The financial boom. The Federal Reserve’s rain of money seized everything with greed. The liquidity injections raised prices. But this spell cannot last a lifetime. And I’m afraid that skepticism has increased significantly in the past few weeks. Investors are starting to hesitate. A strong dollar is a result of this skepticism.
False dilemmas make good headlines, but bad predictions. There is not much to learn here. Because nothing valuable is said. From zero to $ 500,000. What does that mean? When? Why? How? Why can’t there be something middle?
I assume that what is being addressed here is that the future of Bitcoin is uncertain. In other words, it’s like going to a casino and betting on a game with a 50% -50% chance. It’s total failure or total success. All or nothing. But I don’t think we’re playing Russian roulette here. The Bitcoin community has grown gradually. More people join every year. The infrastructure has also grown significantly. That means there are more products and services. This attracts more people. We can have good years and bad years. But zero or $ 500,000? It seems to me to be too dramatic an approach and, above all, ambiguous. It sounds dull, but it doesn’t say anything.
Like it or not, the markets are currently dominated by the capital markets, not the real economy. And the capital markets are dominated by the Federal Reserve. What we have here is a financial boom that was entirely triggered by government interference. This is an artificial bladder that has little to do with basics. This means that when the printer is turned off, it is all over.
Of course, it’s not that black and white. It all depends on when and how the printer is turned off. Theoretically, stimuli are terminated when they are no longer needed. It is assumed that by then jobs will be created and the economy reactivated. Once the economy regains its strength, prosperity can continue smoothly. There is a problem here, however. Everything is overrated. And investors are getting tired of living in a fantasy any moment.
Youtube needs to improve its system. Okay. It’s okay. You need to remove some content. That can be understood. We live in very difficult times. But they do a bad job. Youtube is full of ridiculousness, but in the end they delete harmless videos. I haven’t seen the videos of this Youtuber in question. So I don’t know whether the measure was justified or not. But I saw the Cointelegraph halving party. The live broadcast has been removed. We’re talking about a media company interviewing people about a Bitcoin Code event. Arbitrarily removed. Real nonsense. On the other hand, they allow everything stupid. Holy god!
I am not aware of the methodology used here, but it is certainly not the best. Your mistakes are obvious. And it’s not just YouTube. Facebook and Twitter make mistakes like this all the time. I know it doesn’t have to be easy to manage such a varied and chaotic space. But he took crypto as a sucker. It’s all right, censor your mother.