Are we excited yet?

I don't know about the other bears?

But I did call the 52k rejection a couple of weeks ago, and I do expect BTC to retrace to the mid 30's before the next proper breakout. That will no doubt have a concurrent effect on ALTs, although perhaps not as severe on ETH.

Crypto IMO at least is currently at the whim of broader market trends and in particular US equities. There hasn't been a 5% pullback on the S&P in over 300 days.

There is a little bit of what the Japanese call victory sickness around equities on the back of a 12yr bull IMO.

The hedge funds are smarter than me and probably most posters here too. They are certainly using crypto as a hedge and when the equity bull retreats? Where does the short lived crypto 1 go?

Bearish doesn't mean no faith in Crypto. Nor should Bullish mean that you place all faith in crypto while ignoring the rest of the economic signals.

Nobody's saying you have no right to a dissenting view here, but you expect not to be challenged on it. If a team of bulls swarmed the "Worried" thread claiming 100K before year end, do you think everyone there would sit back without challenging it or questioning why a team of bulls are swarming the thread? I think not.

100% agree and in particular with your last line. It's very much a DYOR space I'm not trying to shill, to spread FUD or to cause anyone to 2nd guess themselves.

My comfort level pulled me to cash a few weeks ago, and left profit on the table. I'm no timing guru 😉

I've my buys set and I'll certainly be going back in hard over the next few months.

If you feel it's the wrong thread? Report it. Otherwise maybe lay off the modding?

It's backseat modding, and chat about crypto on any of the threads is surely to be welcomed?

If it's FUD, Bearish or wrong the poster should support their viewpoint or at least flesh out their opinions.

Same if it's bullish, support it. Either viewpoint drives discussion and the notion of relying on separate threads for Good v Bad crypto discussion is a nonsense. It turns both threads into echo chambers and there needs to be balance. The discussion is pertinent be that people are going balls deep in ETH, or are struggling to see the current Bull continue as is. Far better to have those points and counters laid out and supported in a back and forth, than shunted off to "Excited" and "Worried" threads.

I'm one of the posters that has dumped my crypto to cash. I also laid out (I hope) why I did that. I'd seen 52k as a rejection point for BTC, and on Fib/Elliot wave and market cycle history, I think that it's going to drop back further and called mid 30's as my range for that drop. With the concurrent effect on ALTs.

I'm happy to throw up my trades out of positions or my current cash balance. It's not a matter of (in my case anyway) of having others throw their positions out the window and follow me. I'm happy to lay out why I trade the way I do (and a glance at SPY today should set some alarms ringing).

I've gone to cash, but I still have huge optimism for crypto. Not just in the speculate to accumulate manner, but in offering a degree of financial freedom and self banking independence that will raise many out of poverty.

My enthusiasm is unabated, my faith in the current cycle and it's persisting without a further drop aren't.

I left a lot on the table when I went to cash, particularly with ADA and LINK but I see ADA as a challenger to ETH particularly if it overcomes the Smart Contract FUD that's floating. As for Link another great project that I have to thank Dirk Diggler for, but it's recent rise is based on yet to be realised hype and its price like all ALTs is tied closely to BTC. If I believe BTC is going to take a dip, it follows that I feel the same about the ALTs I was holding and that's why I went to cash.(For now)

I think it's settling up for a 2nd leg with the information I've seen.

The drop on Tuesday was a classic buy the rumour, sell the news moment like the Coinbase listing and Elon Musk on SNL. The market was highly leveraged and it caused a cascade of liquidations.

So why do I think then it's different from the 2018 dead cat bounce? In 2018, when the market recovered to these levels, long term holders used it as an exit and sold. The last week has shown that the people who sold were leveraged traders and new buyers who sold at a loss. Long term holders accumulated heavily. Exchanges are getting drained of bitcoin.

TA wise Bitcoin has held above the 21 week EMA for 5 weeks. 2018 it was rejected straight away multiple times. If you zoom out on the charts and look at it from 2 years you can see Elliot Wave Theory playing out and we are about to start Wave 5 which is the last one before major correction.

Length of cycle - if the top was in April, it would make it the shortest cycle when all other cycles have shown they are getting longer. On top of this there is now institutional investment and adoption of crypto it just seems unlikely the bull market gets shorter.

For me the biggest threats to Crypto right now that could knock it out cold are the traditional markets going through a big correction or Tether blows up. I've not seen 1 good argument why Tether is not dodgy. In fact it terrifies me.

Im excited for two reason and one of them is inflation, officially its running around 2% in USA, UK and EU but i think we can all agree that BS, you can personally see the size of stuff you buy in the shops shrinking to keep the same price and with some goods you can taste they have changed to inferior ingredients to keep the price down, i know inflation will be very bad in general but i believe it will be good for crypto, just look at countries with crazy inflation like Venezuela with inflation in the thousands of percent, the people are buying crypto, now Venezuela is at the extreme end of inflation and i don't think we will see that level in the USA, UK or EU but we could see 10%+ inflation and we have that in Turkey where its 14% and the population are buying crypto at a very high rate, especially AVAX which has a Turkish CEO.

Then i see in the UK Boris raises the ire of the entire population by announcing a tax rise to generate £14 billion a year extra, whats that got to do with crypto you may ask, well Quantitative easing in the UK for 2021 is £895bn, so ask yourself why did Boris decide to anger the public with a tax rise rather than print a inconsequential in the great scheme of things £14 billion? The only answer i can think of is Boris is very , very worried about inflation, if the UK experiences high inflation we will see huge amounts of money flood into crypto and if the UK gets high inflation the USA and EU will follow a few months later.