There’s far too much hope for this to be anywhere close to the bottom of the market.

In the previous crypto winter, there was a real sentiment of Bitcoin never being able to recover again. It will be this kind of disbelief that signals to me we are somewhere near the bottom. I’m still seeing waaay too many positive comments and naive posts with some variation of “BTC is about to snap back!”, “This moving average suggests all the world’s problems are over”, “if you haven’t bought in, you missed your chance at discount crypto!!”. Pfffft. We are NOWHERE near the bottom. It’s going to look like a cold winter’s night, the trees will look dead, snow will cover the entire expanse and there will be a fear that it will be impossible for Bitcoin to ever reach the highs it once had. Until then, buckle up, this failed “inflation hedge” idea isn’t hedging anybody from shit. I’m looking at next year and 2024 as the new bloom. Now we are in the entertainment phase, watching shitcoins and scammy exchanges get rekt, because all they were selling were hopes and dreams.