Quote (majorblood @ 15 Jun 2022 00:00)
i think the global market recession hasn't hit yet in its full strength and btc is already at ~20k support, i see another large correction in spx soon and there's no chance btc does well in those conditions. 11k is strong support, if that breaks 6k is next.
also I think cash is a good position as you said rn until there's solid upward momentum in value names, don't try to time the bottom, miss 10-15% potential gains and buy into strength instead when there's a clear sign of recovery
yeah it definitely is gonna get worse, i said recession is locked in during feb when the war started and people looked at me like huh why.
unfortunately yeah. btc is tied too close to the s&p and nasdaq now so, we'll see. i think 3k spx is bottom, thats like a 20% haircut from yesterday's close, but who knows
cash is king yeah, which is why i never will not wage cage. labor is still the tried-and-true method for a person to obtain cash.