Sorry for the confusion Salvatore. On one hand, you have price below a key long-term level that’s an interesting (and has been) good long-term entry opportunity. On the other, we haven’t seen the type of over shorting behavior that has marked bottoms in the past.
Intuition leads both Dylan and I to think this is more of a bear market rally and not complete bottom. That’s considering further potential contagion in the “crypto” space to play out, lack of convincing equities bottom, lack of a major blowup in the legacy financial markets, and accelerated global liquidity tightening playing out as a few key reasons.
Interesting take. Definitely wasn't trying to be an ass with my comment though. I think we've bottomed due to the psychological response I've been noticing, especially with new investors, but I don't know.
This post is quite confusing. What does your intuition tell you about the market?
Sorry for the confusion Salvatore. On one hand, you have price below a key long-term level that’s an interesting (and has been) good long-term entry opportunity. On the other, we haven’t seen the type of over shorting behavior that has marked bottoms in the past.
Intuition leads both Dylan and I to think this is more of a bear market rally and not complete bottom. That’s considering further potential contagion in the “crypto” space to play out, lack of convincing equities bottom, lack of a major blowup in the legacy financial markets, and accelerated global liquidity tightening playing out as a few key reasons.
Interesting take. Definitely wasn't trying to be an ass with my comment though. I think we've bottomed due to the psychological response I've been noticing, especially with new investors, but I don't know.