Last night I saw this happening in real time.
I could not believe what I was seeing: the most obvious bear-trap of my entire life. Surely, no one would fall for it!
Corporate Sharks Bait Beartrap
Seriously!
They aren't going to fall for it again... not again...
Ha! Really? Again?
People are calling this an 18% dip... this is not an 18% dip.
Get real.
Let's consult the 5-min candlesticks, shall we?
The price was only under $37k for 35 minutes. That doesn't even count. The dip here was to $37k, not $35k. Sharks are laughing all the way to the bank on this one.
Volume has skyrocketed back to the mega-high levels now that bears took the bait.
Sharks eating their lunch and buckling under maniacal laughter.
This 12% dip is recovering immediately, and now that all these bears got absolutely shredded, there are even less bears out there to dump Bitcoin. This market is prepping a springboard with which to catapult to new all time highs. We'll know a blow off top when we see one. It won't be anything like this.
Looking at top alts like Ethereum and Litecoin, we see that these markets were surprisingly unphased by this trap and for the most part held quite strong. All the bulls holding top cap coins now see Bitcoin at double all time highs and feel that their network is currently undervalued, and they are probably right. I believe they are due for another 30% bump up as well.
Bull vs Bear vs Shark vs Lion
The definitions of bulls vs bears is obvious, or is it? Someone might be called a bear if they think Bitcoin is going to zero, but real bears have huge bags and can crash the market with their stake. Sometimes bulls are referred to when considering fundamental development and long term success, while having nothing to do with day to day price action.
Sometimes bull just means someone who thinks the current price is going up while bear means the price is going down. There's a lot of ambiguity with these words, so allow me to fabricate my own definitions.
Bulls & Bears
To me these are the neutral positions of a gambler. A bull can flip bearish anytime, just like a bear can flip bullish at any time depending on all the speculative variables. It all depends on their market positioning and whether they think the price is going up or down. For me, the term bulls and bears is purely speculative and ever-changing based on current price action.
Zealots & Skeptics
Zealots HODL no matter what and find themselves quite often in permabull positioning no matter the circumstances. Most skeptics are no-coiners who think the entire thing is Tulip Mania 2.0: everything will crash to zero eventually (permabear). I find myself in Zealot territory quite often, much to the dismay of my own greed.
Sharks
Sharks are the cold-hearted bastards entering the market right now. Corporations, governments, banks, or otherwise legacy economy superstars. These people don't give a fuck about decentralization or self-governance; in fact they despise these things. They want more control and more money, period.
However, the sharks have capitulated to greed and are finally willing to admit that this abundance technology is here to stay. They won't admit that they are the reason Bitcoin has so much value (completely corrupted trust void), and they don't have to. They want a piece of the action, and the bears are selling out damn cheap.
I both welcome and dread their presence, they will do great and terrible things. They will pump this market. They will manipulate it. They will attack competition (including fiat & crypto). They will build, but above all else: they are here to make money. Never forget that.
They are a sign that the space is maturing, and they are the ultimate double-edged sword. Yeah, you might get eaten alive by a shark, but you also might get saved by one should it destroy a mutual enemy. They are chaotic and greedy opportunists, but at least the greed makes them predictable, while chaos and disruption join hand-in-hand.
Lions
We Lions are basically the opposite of sharks. We greatly value decentralization and self-governance. We are here for the technology and the community. Many of us are zealots, but we will also sell if the market is overheated, because that is the best way to hedge and protect the network in the future during the inevitable blood-in-the-streets moments.
We struggle to improve ourselves, try not to FOMO/FUD, keep our heads down and keep building, because there is so so much work to do and price action is a fleeting dream. How fitting that LEO is full of Lions. I wonder what happens when the sharks come knocking at our door. I say we have them meet us on dry land and see what happens.
Conclusion
Did I do a good job of padding this one with ridiculous fluff?
I think so.
Send your money now.
