Patients Young Degens

I’ve been seeing a lot of posts recently questioning why the price of BTC is going down now that the ETF’s have been approved. There seems to be a lot of frustration and accusations. I am a simpleton degen like most of you here.

So I know my knowledge isn’t probably worth a single satoshi, but like the boomers before me, I’ll give it to you anyway:

I started in BTC in 2010. I mined it for a bit and got board, deleted it and moved on (yes it’s painful, blah blah moving on). I came back to it in 2016. Since then I have tried trading w/ leverage, swing trading and pattern trading.. If there were a golden rule for BTC it would be this:

”Be patient and Buy the Dip”

Don’t sell. Don’t ever sell. Just DCA. Be excited when it goes up in price and be even more excited when it goes down.

In my humble opinion what we are currently seeing is that all of the early institutional investors bought into GBTC and their money has been locked up there since and paying ridiculously high fees.

Until the ETFs were approved.

Now all the money that was stuck in the GBTC fund is able to sell and buy into the low fee ETF’s. The issue is all of these trades have to be settled in CASH. So understand all the money going into the New ETF’s is money that was already in BTC. Which results in a net 0 trade, or people selling out.

Point being I don’t believe the REAL new inflows have even happened yet. It takes BIG money more time to move. But when it does.. it’s only up from here.

If you read this far, thanks for listening to the babble of an elder millennial. Because back in my day we had pagers and answering machines..