Can you feel that?
That is the feeling of uncertainty.
The market does not like!
The NYSE is open from Monday through Friday 9:30 a.m. to 4:00 p.m. Eastern time.
Because it's a three day weekend the market is closed on Monday as well. No trading tomorrow... So what did people do so close to this historic transition of power? They bailed before the market closed on Friday. Wouldn't want something crazy to happen over the long weekend and not be able to trade, amirite?
Bitcoin is doing the same thing.
Volume was a record-breaking 100k per day during the dump on Jan 11, but now all is quiet as the volume has since slowed to 50k, then 30k, and now 18k. Is this cause for concern?
Market is holding its breath.
I don't think this is cause for concern. People are just hedging their bets because this is a crazy transition period and why risk being in potentially volatile markets during a time that they aren't even open?
I'm especially not worried because we already saw the markets go up in response to a riot at the capitol itself. Was this a non-event or somehow even bullish? An ominous sign indeed!
I think once the Biden Administration officially takes power the market will let out a sigh of relief and everyone will begin to hunker down in strategic positions. I expect all the money that exited the market over the weekend to reenter the market come January 20th. It might even take a good week for everyone to get solidified.
Bitcoin?
Every technical analyst out there seems to think we are on the verge of imminent bullish action. Of course we've all witnessed those times in the past where the market did exactly the opposite thing of what everyone was saying.
From what I'm seeing, a move to $28k seems almost as likely as a move to $50k. There's really no telling what's going to happen. But whatever it is, it should happen before the end of the month, so at least there's some solace in the timelines.
I continue to maintain that March is signaling itself to be a really bad and disappointing month. People are talking about a new strain of COVID from Europe coming over in March. The economy is wrecked and the chickens are coming home to roost eventually. The middle class is still under constant and blatant attack. Q1 is notoriously bad for Bitcoin when we get a Q4 bull run.
Regardless of all that, the local bubble may have not popped yet, I mean I think it has but I guess we'll see soon. I feel like if things get super crazy at the end of the month we could still spike up into some crazy range like $50k-$70k. Of course such a spike would signal an even worse crash than we were going to get before in my opinion.
Volatility breeds volatility.
Whatever... everyone knows I'm not good at reading the tea-leaves anyway. I'm only good at predicting volatility, and I'm expecting quite a bit after Biden takes the presidency. So much emotionally irrational trading is about to go down. Try to put yourself on the correct side of the action is my only advice.
For the Swarm!
- XRP Army
- Link Marines
Seems like the diehard fans of a given crypto have to name themselves. A Beehive has workers (female) and drones (male). The males are just there to breed with the queen and then they die, which is obviously pretty anticlimactic and degrading. Also calling someone a drone has a negative connotation as a thoughtless follower.
So what do we call ourselves?
Hivians? Hivers? Bees? Ants? All pretty lame!
The only word I can think of that describes the Hivemind well is Swarm.
This also relates well to gaming and Starcraft. We could call people on Hive Zerg or Zerglings, but then again Starcraft isn't a super popular game unless you live in Korea, and we lost a huge percentage of our Korean population to the hostile takeover. No worries though, they'll be back when Hive has some cool games on it.
Koreans can't get enough of competitive gaming activities. It's a full on sport over there: e-gaming. The most popular 'sport' in the country. Add money into the mix and things get really crazy.
In any case...
Referring to Hive as a Swarm is pretty relevant.
Swarm intelligence is going to be all the rage going forward.
Humanity is on the brink of evolution: and that evolution is clearly some kind of higher intelligence based on Swarm Intelligence. Add DPOS into that and weighed votes based on stake and other metrics of reputation, and we are sitting on a technology that hasn't even come close to reaching even 1% of its full potential.
No one is in charge.
Swarm Intelligence has no leaders.
The group makes a decision together.
It is the ultimate expression of pure democracy.
Something humanity can't even fathom at the moment.
How do I want to tap into this?
I'd really like to create a Fantasy Bitcoin League that uses Swarm Intelligence to trade the market. We can create systems who's value is derived from the users themselves. Abundance must be the foundation to build out more important systems.
Conclusions
It doesn't really matter what the market does in the short term. Just being here at ground zero before this system of open-source capitalism takes off puts us way ahead of the curve.
It's easy to think that those in charge will not allow these things to happen, but they truly do not have a choice. The real value is in abundance technology, trustless/borderless environments, and groups of humans coming together and scaling up systems to a level that was never before thought possible. We are already seeing top players capitulate to this new system and protect it through the process of buying Bitcoin on an institutional level.