You digest every piece of news to fit exactly what you want to believe.
The narrative right now is: lol, China bans for the 47th time, buy the dip. A couple weeks ago it was ‘China bans don’t matter’, and before that it was ‘eLoN iS mAnIpUlAtInG, iGnOrE hIm.’
If Bitcoin was going up amid the China ban, your narrative would be that Bitcoin is so strong that China can’t even take it down. If it was going up while Elon was talking about it, you wouldn’t even notice his tweets.
The news doesn’t matter, it just manipulates your interpretation. Bitcoin will continue to be volatile until it’s actually used for something. If more people buy than sell it will go up. If more people sell than buy it will go down.
That’s it. Drop your junior analysis and realize that you’re investing in a highly speculative asset that can do anything at any time. If you’re investing more than you’re willing to lose, you’re fucking up.
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