I don't normally post here but I've gotten texts and calls from people out of the woodwork that are interested in crypto all of a sudden due to the bitcoin halving. They are all feeling FOMO because price is going up and they want in.Most noobs think "OMG THE PRICE IS GOING UP CAUSE OF THE HALVING... IT'S GOING TO KEEP GOING TO THE MOON!"When in reality it's getting priced in RIGHT NOW and come the day of the halving (or a couple days before, basically this weekend), it may quite possibly stall out and fizzle out because by then it's already fully priced in. The halving is clear, public information. It is not some secret nobody knows about. You don't have any edge here.We have had 8 green weeks in a row. The Bitcoin halving is in 4 days. This is a classic, obvious, clear "buy the rumor, sell-on-the-date-of-the-news" type event as fundamental events with a clear date attached are rare for BTC.Also, everyone and their mother on twitter is posting about how Paul Tudor announced his fund is buying bitcoin. Listen guys, he prolly bought this shit at 4-6k and selling into your FOMO right fucking now. It's not a coincidence they published this shit 4 days before halving. I'm not giving financial advice. I'm not saying short this shit to the ground. I'm just warning newbies to not be surprised when come 1-3 days before the halving we get an insane blow off top followed by a subsequent bleed out or crash.
Submitted May 08, 2020 at 03:02AM
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