For all you Diamond Hands, get ready for some more downward price action. China's actions to stop mining, transactions, transfers and other Bitcoin/Crypto activity will likely move into other Asian/European nations as well. The IRS is now starting to require reporting of Crypto transactions over $10k. Guess what that means, the part is over.
The enthusiasm phase has busted and we are very likely looking as a long downward transition toward more realistic valuations. My estimate is $10k as the near-term bottom.
Yell at me all you want, but this is a BUST cycle for Cryptos (and likely other assets). HODL all you want if you are willing to risk another 60% to 80% of your assets.
Good luck.
The enthusiasm phase has busted and we are very likely looking as a long downward transition toward more realistic valuations. My estimate is $10k as the near-term bottom.
Yell at me all you want, but this is a BUST cycle for Cryptos (and likely other assets). HODL all you want if you are willing to risk another 60% to 80% of your assets.
Good luck.
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