02-08-2022, 01:46 PM
I love the pump as much as the next guy, but don't forget to zoom out before you get
<!-- SC_OFF --><div class="md"><p>The markets have been looking great the past few days, I won't deny that! If you go to Coingecko right now, BTC is up the past 24h, 7d, 14d, 30d <strong>and</strong> 1y, so things are looking pretty great!</p> <p>Before you get too euphoric though and convince yourself, that BTC will go to 200k this year (which I have seen posted a few times today), look at the chart and zoom out a bit. Right now, we are pretty much exactly where we were on January 20th, 18 days ago, before the last big dip. For now, we have fully recovered from that dip. That's great.</p> <p>However, if you had asked most people on here at that point, before the dip, they would have told you we were in a downward trend even then. If you look at the past 90 days, things have quite clearly been going down. We might have recovered from that one dip - but there were multiple similarly sized dips that we never recovered from! Three months ago we were at 69k, two months ago at 57k. At the moment, BTC is still down 37% from November. So yeah, things have recovered a bit - but we're still down a lot. Things are looking worse for most alts.</p> <p>Why am I being so negative? <strong>Because I feel like the mood on this sub has swung to full euphoria again, and I think that's a bit premature. I would love it if this uptrend would continue, but don't FOMO in - the next huge red candle might be just around the corner! Be careful out there!</strong></p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/mic_droo"> /u/mic_droo </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/smt549/i_love_the_pump_as_much_as_the_next_guy_but_dont/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/smt549/i_love_the_pump_as_much_as_the_next_guy_but_dont/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>The markets have been looking great the past few days, I won't deny that! If you go to Coingecko right now, BTC is up the past 24h, 7d, 14d, 30d <strong>and</strong> 1y, so things are looking pretty great!</p> <p>Before you get too euphoric though and convince yourself, that BTC will go to 200k this year (which I have seen posted a few times today), look at the chart and zoom out a bit. Right now, we are pretty much exactly where we were on January 20th, 18 days ago, before the last big dip. For now, we have fully recovered from that dip. That's great.</p> <p>However, if you had asked most people on here at that point, before the dip, they would have told you we were in a downward trend even then. If you look at the past 90 days, things have quite clearly been going down. We might have recovered from that one dip - but there were multiple similarly sized dips that we never recovered from! Three months ago we were at 69k, two months ago at 57k. At the moment, BTC is still down 37% from November. So yeah, things have recovered a bit - but we're still down a lot. Things are looking worse for most alts.</p> <p>Why am I being so negative? <strong>Because I feel like the mood on this sub has swung to full euphoria again, and I think that's a bit premature. I would love it if this uptrend would continue, but don't FOMO in - the next huge red candle might be just around the corner! Be careful out there!</strong></p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/mic_droo"> /u/mic_droo </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/smt549/i_love_the_pump_as_much_as_the_next_guy_but_dont/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/smt549/i_love_the_pump_as_much_as_the_next_guy_but_dont/">[comments]</a></span>Kind Regards R