Should we be excited about recent big jumps in BTC value?

in #cryptolast year

I'm sure that most people that pay any attention to the cryptosphere are aware of the fact that BTC made a big jump in the past week. It went from something like 28k to around 35k and I wasn't even watching when it was happening. I have a little bit of BTC but mostly diversified to other things in the past few years. I also don't really understand candle charts, nor do I have any idea why certain fluctuations can and do occur. Of course there are influencers out there, the most famous being Elon Musk, that can dramatically change the value of a coin in a matter of days.

Some friends of mine made out like bandits when DOGE jumped from a fraction of a cent to nearly $1 in a week or so. Unfortunately I was not one of those people.

I don't follow crypto news because I feel as though a lot of this news is rigged, or intentionally pushing people towards a pump and dump. Mostly, I think that when I am choosing something to invest in it is just based off the recommendation of others or in many cases, it was just a completely random decision. I have made some money on some of these things, and I have lost bigly on other ones.


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The best gains I have made in crypto have been on completely random decisions. The ones that I have lost big on I investigated thoroughly and was wrong about what I thought was a good choice.

I'm sure there are people out there that can make wise decisions as far as investing in crypto is concerned but well, I am not one of those people.

Getting back to BTC. The 10% rise or more that was experienced in a few days made waves, that is for sure and I noticed that very quickly this rise translated into a rise of almost all other cryptos as well. I do not pretend to know why this is but I am happy that it is the case. I do know that a lot of people that depend on crypto for all of their income and future have become perhaps a bit prematurely, quite financially arrogant. I saw this funny meme regarding it.


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I don't think that now is the time to become extremely arrogant or even worse, to quit your job because if you have been in this game long enough, you know that the fluctuations can be rather extreme. I know quite a few people that will need to see BTC return to 45-50k levels just to break even because they bought into the hype. Was I excited during those times as well? You bet your ass I was, but I also approached it with trepidation because we've been here before, and we will be here again.

I don't have advice for anyone about this and if I did you probably shouldn't listen to it anyway. I guess I am just excited that SOME movement is happening in an upward trajectory and just like always, I'm not even going to look into why it is happening. We live in a time of disinformation and I'll just sit here and wait for whatever good thing that could be happening in the future, actually ends up happening before I jump.

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