/biz/ - Business & Finance

it's over. 9.2k support broken.
muh halvening. muh uncorrelated asset. get fucked cringy hopium pumping spastic bulltards

When?

I am an oldfag from mtgoy.
People often talked about how it can't go below mining cost. That it would mean the death of bitcoin. Much of it was fear mongering. As you can see, we are here. So why aren't we dead? The miners still believe it could go up again, so they mine for speculation. While many investors gave up, the miners have not been mining at a loss as long. They still have optimism, like the investors in the "denial" stage of a bubble. "My money will come back" they think. But if it continues to drop, they will capitulate eventually. They are just not as REKT as the investors at the moment.

Now, when/if the miners truly capitulate, then you will see some serious fucking shit. Beyond miner capitulation lies the absolute end. Everything will crash to fucking pieces with red wojaks for days.
If the miners accept they will not be able to sell high EVER and they are just throwing money away on electricity, it will go to fucking meme levels of rekt. All that will be left are the hobbyists who do it for the tech unironically.
I'm not even going to say long/short at the moment. Maybe it will hold. But I do want to fucking warn you. If it drops below 3000, get the fuck out of everything. Do not fall for sunk cost fallacy and TA. Just get the fuck out with the few dollars you have, because it will be a fucking bloodbath to make 4k a distant dream. You have unironically been fucking warned.

Had a portfolio of x10 in January, today I'm break even. Just sold everything, every single shitcoin I was holding, I'm done with this crypto bullshit.

Good luck buying the bottom. The hype is over, this will keep crashing until it reaches 0.