//This is What Blood in the Streets Looks Like

This is What Blood in the Streets Looks Like

Cast your mind back to December and January. The excitement. The euphoria. The adrenaline. The “I’m gonna be fucking rich” swagger.Now flip that on its head. 180 degrees. What does that look like? It probably looks a lot like this.People calling for a two year bear market are wrong. Those times have passed. We are on a much shorter timeframe now given the interest, money and human capital dedicated to the space. Last January, I called for a 2-12 month bear market. I think I’m still looking good on that.Contrast how in 2017 every fucking piece of news, good or bad, moves the market. China bans ICOs? Boom -20%. Coinbase subpoenaed for tax purposes? Boom -10%. Overstock.com CEO says Bitcoin is the future? Boom +10%. Segwit2x been cancelled? Boom +30%.My point is this: as ridiculous as 2017 was where we reacted to everything like off-pipe meth head, we’ve now go to the exact opposite of reacting to nothing. The reality is that we probably lie somewhere in between and should be pricing in all the incredible developments occurring in the space, but we aren’t.Hold until Q1 2019 when the next market catalyst will arrive and all of this will seem like a bad dream.

Cast your mind back to December and January. The excitement. The euphoria. The adrenaline. The “I’m gonna be fucking rich” swagger.

Now flip that on its head. 180 degrees. What does that look like? It probably looks a lot like this.

People calling for a two year bear market are wrong. Those times have passed. We are on a much shorter timeframe now given the interest, money and human capital dedicated to the space. Last January, I called for a 2-12 month bear market. I think I’m still looking good on that.

Contrast how in 2017 every fucking piece of news, good or bad, moves the market. China bans ICOs? Boom -20%. Coinbase subpoenaed for tax purposes? Boom -10%. Overstock.com CEO says Bitcoin is the future? Boom +10%. Segwit2x been cancelled? Boom +30%.

My point is this: as ridiculous as 2017 was where we reacted to everything like off-pipe meth head, we’ve now go to the exact opposite of reacting to nothing. The reality is that we probably lie somewhere in between and should be pricing in all the incredible developments occurring in the space, but we aren’t.

Hold until Q1 2019 when the next market catalyst will arrive and all of this will seem like a bad dream.