There is absolutely 0 reason to buy crypto RIGHT NOW

I’m a bitcoin bull but I’m also not involved in this cult of “there’s never a bad time to buy bitcoin”. Ummm, yes there is. When it’s up 20x in a year why are you trying to DCA instead of taking profits? When we’re going through a recession and the fed did a rug pull, why are you buying a risk on asset?

Do not buy crypto until either inflation has peaked and rate hikes have stopped. Any smart investor knows how to preserve their capital and sit on the sidelines. I know this sub hates FIAT but it’s king in situations like this. You need fiat to afford these gas/food prices, pay rent, e.t.c. Don’t DCA yourself into poverty.

Bitcoin will eventually recover but it probably won’t be for another decade like Dot Com bubble. In the end I think this will be healthy since it can wipe out all the scams in the industry. The projects with actual utility will survive. Do not look at past models for bitcoin. This is the first bear market due to the macro environment. Wait for reversal instead of catching the bottom. Bitcoin will not recover until the stock market does, that’s not happening anytime soon.