Data-driven crypto market insights and Bitcoin analysis | Not financial advice
Everywhere 👁️
Joined January 2023
- Tweets26.3K
- Following137
- Followers11.8K
- Likes37.4K
Patric H. | CryptelligenceX retweeted
Seriously this, if people were sooo worried about Quantum Computing hacking Bitcoin, then why in the world would anybody keep even 1 cent in their bank accounts right now?!
Make it make sense.
You think Quantum can hack Bitcoin's SHA-256 hashing algorithm but not your Chase or Bank of America online banking password? 🤣🤣🤣🤣🤣
Patric H. | CryptelligenceX retweeted
I got 3 cycles so far under my belt and the reason why I fear for many people's portfolios even if the market does bounce back is the following:
It is much easier for founders to built and hype NEW altcoins than to revive old ones.
Altcoin charts like OTHERS/TOTAL3 etc don't show this.
So many are in a scenario where the chart eventually will look like altcoins are pumping or moving sideways.
But in reality one altcoin gets replaced by the other.
Altcoin X with $500m market cap simply dies and gets replaced by altcoin Y with $500m market cap.
Charts that are a global representation of alts (OTHERS for example) will stay the same.
But in reality your portfolio looks much more grim.
This isn't an "altcoins are terrible" problem. It's a "altcoins going into a new cycle" problem.
While this cycle has been lackluster for many, in general altcoins have and can still produce good returns in a cycle when "it's their time".
So at some moments they have effectively been and can be good investments.
Just not when the music stops anymore. That's when the new and hot takes over.
There are exceptions ofcourse. Mostly those that reach into LARGE cap status by the end of a cycle maintain some relevance and ability to bounce back.
But those that never made it that far? They usually die out and the founders themselves actually move on.
Even worse, they are heavily incentivized to do so. It pays off more for them.
It's a painful truth for those that haven't derisked when the cycle was at risk to coming to an end.
The markets will bounce. But many portfolios will not.
Patric H. | CryptelligenceX retweeted
If you are wrong and go to cash and assets rebound you can always jump back in. If you are wrong and assets keep dropping you are often screwed and are forced to hold. Never let the markets play your hand for you.
Patric H. | CryptelligenceX retweeted
Be content with inactivity.
A+ setups don't come every day.
If you desperately seek action, you put yourself at a disadvantage.
Patric H. | CryptelligenceX retweeted
The people who rise the highest are the ones who never stop learning.
Teachability beats talent. Every time.
Patric H. | CryptelligenceX retweeted
Same thing with altcoins:
"Wow! Have you seen OTHERS vs BTC right now!?
"Have you seen TOTAL3!?"
"Have you seen how beautiful bitcoin dominance looks!?"
Sigh... Guys I'm also tracking all of these things. And I'll be euphoric as everyone WHEN we are in the RIGHT ENVIRONMENT.
There is NO ALTSEASON before Bitcoin BOTTOMS.
You can have bitcoin dominance dropping for days and days but if Bitcoin drops? All it would mean is that your alts are dropping less than Bitcoin in $ value.
But your portfolio will still absolutely puke.
The others chart can look absolutely amazing vs Bitcoin but your alts will still puke when Bitcoin drops.
I've been saying it all week now:
"ALL ROADS LEAD TO BITCOIN RIGHT NOW"
When the bottom is in and Bitcoin moves sideways or goes up? That's when all these other charts MATTER AGAIN.
And if you don't believe me? Let's take some factual information:
Look at bitcoin dominance right now. It's been dropping for 2 weeks straight.
How are your alts doing in those 2 weeks? Great Bitcoin dominance altseason right?
Again, I'm not the enemy. I don't like it any more than you do.
As someone that's infinitely bullish on this industry I don't think in terms of being a bear or a bull here regarding price.
I just let the market show its hand and not fight against it.
When Bitcoin drops, there simply is no altseason yet.
I'll fully be here when it does. I'll be watching every metric for it possible to the best of my abilities. Expert or no expert.
But right now it's all about Bitcoin and we have yet to see the confirmation it does.
Untill then we confirm and not predict.
Still can't comprehend how many people are shouting:
"BOTTOM IS IN!"
Every single day. Might be the reason we are going down that sharply.
Listen up, there will be a time when we truly bottom. But Bitcoin is undeniably in a downtrend on the daily.
Literally in every way possible. And a strong one at that!
When there is no sign yet of a reversal and no support building yet? There SIMPLY ISN'T.
Bottom here, bottom there, 10 different charts and indicators showing you in the fanciest way possible why we have bottomed every day.
But it literally means nothing. Price action is KING.
Let the market do it's thing. We can't fight it no matter how much you want it to and fancy arguments you make.
The market will show its hand when it bottoms and show signs (bullish structure, reclaiming key levels, accumulation signs on lower time frames etc.)
But predicting the bottom is in every day?
98k bottom on!
96k bottom in!
94k bottom in!
...
How?
For your information: I don't like it any more than you do. I'm not a fan of it either. Neither do I want it.
But I can't fight the market. When it says it wants lower it's pointless that I want to force my fancy lines and charts saying it doesn't.
Again: there will be a bottom. But pointless to shout it's in everyday when there is no sign yet.
Confirming bottoms > predicting bottoms
(99% of traders for some reason still pick the latter option)
Patric H. | CryptelligenceX retweeted
Loving your stuff. @blackwidowbtc has been saying this for ages. Other good structural thoughts from @CryptelligenceX . A few others too, but this is an excellent post for veterans and newbies alike. Thank you.
Patric H. | CryptelligenceX retweeted
35%It's over! Bear started🩸
37%Still believe in ATH 🚀
13%Maybe dead cat bounce 😺
15%I don't know, just sad 😢
399 votes • Final results Patric H. | CryptelligenceX retweeted
Do you think this is the bottom, and we're at the start of a mega rally towards new ATHs?
#Altcoins
33%Yes,bottom in, ATH next🚀
19%No, slightly lower 📉
23%No, bear started 🩸
26%I have no fucking idea😫
346 votes • Final results Patric H. | CryptelligenceX retweeted
I actually think this is quite sad tbh.
The vision of what Bitcoin was and could be basically completely gone now.
Given away to Government and institutional ownership, KYC exchanges etc.
17 years after the white paper, the Bitcoin network is still operational and more resilient than ever. Bitcoin never shuts down.
@SenateDems could learn something from that.
Patric H. | CryptelligenceX retweeted
Winners don’t call tops. They’re too busy winning.
The loudest voices calling tops are always the ones who missed the majority of the move.
The ones getting rich are managing risk, not running their mouths
If you want to join the winners, stop whining and start executing.
Patric H. | CryptelligenceX retweeted
Good to see that $BTC held the range's point of control. It shows that buyers have been stepping up to defend a key level.
Now we need Bitcoin to print a higher high above $115.2K to flip the daily structure bullish again.
Below that, the push could result in another lower high, rejecting from FIB retracement levels + daily EMAs.
$BTC (on log scale)
Can the market hold this nPOC combo, or are we heading much lower?
Another make-or-break moment here.
Patric H. | CryptelligenceX retweeted
Leveraged positions are at an All Time High
Retail are now All in and leveraged
Patric H. | CryptelligenceX retweeted
Do so much work it would be unreasonable that you don’t succeed.
Patric H. | CryptelligenceX retweeted
Trading is a bloodsport.
It’s the modern-day gladiator arena. If you’re not doing everything in your power to gain an edge and perform at your absolute peak, you will get wrecked.
No one cares about your excuses.
No one cares about “manipulation.”
No one cares about you.
If you want to win in this game, you have to treat it like a battle for survival. Only those willing to make every necessary sacrifice stand a chance.
The winners in trading possess extraordinary discipline, consistency, attention to detail, and emotional control. You’re fighting a damn kraken every time you enter the market.
Once you accept that — and change every behavior to become the sharpest, most disciplined version of yourself — then you might stand a chance.
Yes this is financial advice.
$BTC $ETH $SOL $SPY $QQQ $TSLA
Patric H. | CryptelligenceX retweeted
The reason everyone from my era became millionaires in 2017 is because there were like 300 total coins and 90% spot only.
I had Raiblocks go 5000x in a week.
Imagine that today lol
Patric H. | CryptelligenceX retweeted
winners & losers of the crash
winners:
-ethena: 100% uptime & redemptions, held its onchain peg
-aave: record stress-test, 0 delays
-solana: < $.01 fees during tps peak
losers:
-perp dexes: risk engines blew up (minus HL)
-binance: halted trading + mispriced USDe causing liqs
Patric H. | CryptelligenceX retweeted
bull market except you have to pick the right 3 assets during the right 1 week window
Patric H. | CryptelligenceX retweeted
#TipOfTheDay
You should completely eliminate from your mind the obsession of knowing what a pico bottom or top will be.
Next few months will be fun but also very tricky to navigate emotionally wise.
Once you look at your portfolio and you think "this is a lot of money", take profits without mercy,
You gonna suffer no matter what, you gonna TP too early or too late.
I personally like to TP into strength. I prefer to decide when to TP as opposed to the market "making" me do it.
Once you secure profits you will always feel the desire to go back in. Control your mind. If you were happy when you took profits, then just decide to stay happy no matter what, even if the market goes higher.
For now, lets ride.