The Trailing Noob And The Upcoming Bitcoin Bleeding

When I first started to get into Bitcoin back in 2012 I was mesmerized by the ideology behind the technology. Decentralisation and individuality were always things that fascinated me and Bitcoin seemed like a project that could materialize this idea.

Entering the market I also noticed other coins that based their concept on Bitcoin. They weren’t novel in a sense but rather a little different than the original Bitcoin. The idea was kept the same but each one offered a new perk that Bitcoin didn’t offer.

Another thing I noticed was that the overall cryptocurrency market was very much like the Fiat market. Ofcourse, this was a disappointment for me since I expected that other people would see the brilliance of the code and rather invest in the technology long term. This was not the case. As time went on, I soon realized that the crypto market wasn’t all that different from the normal one. After all, apes gonna ape.

This realisation alone should have made every single cryptocurrency investor understand that profit comes first and then everything else follows. Money talks and there is little one can do to control one self when the going gets tough. They say that the market reveals the true character of a person. This is extremely true. The crypto market is a mirror to what is really going in the head of the crowd.

There are no individuals in the crypto markets that think about liberty, freedom, independence and all that romantic staff. There are people who care first and foremost about profit. The herd mentality takes over as the green and red candles start dancing in the charts. Desire takes over and shit starts hitting the fan.

The crypto market specifically is characterized by what I call “The Trailing Noob”. A few whales move money around and then the average investor (noob) starts investing as well. Price goes up, more investors get in while the whale takes profits leaving the noob bag-holding. This cycle moves from Bitcoin to fiat to alts in all given directions. This cycle though became more complicated with this year’s crypto boom market.

When I see “Bitcoin Fork” I read “Bitcoin Bait”. The magic money generating machine should make everyone skeptical. Thing is the masses are not individuals or skeptical. They are as stupid as they can get. When money moves into Bitcoin for “double rewards” then the masses follow. They already tasted the rewards once. The whales know this. Hysteria builds up making Bitcoin look unstoppable, reaching crazy highs. As the alts bleed out from the weak hands the whales are accumulating slowly right behind them, without even making the moves noticeable. Right before everyone is expecting for the BTC rally to continue they pull off. Right after we see massive cash outs to either Fiat or other alts. The average weak hand is left with a bleeding Bitcoin and the only way to buy again into the market is to buy expensive alts that whales will yet again drop on their asses. Again, this already happened once although instead of Hard Forks and Dimon we had Mt. Gox and the Chinese soap opera. Ironically, always timed perfectly.

By the way, I should note here that I wrote this post yesterday before the bleeding begun but vanished from Steemit’s database for some reason. I am re-writing it again today. I warned about the inevitable demise of BTC in an earlier post noting that Bitcoin will eventually become obsolete and with this post I am letting you know that we are about to see an exchange of BTC/alt wealth that will dwarf what happened on April-May. Bitcoin will be taken over by a long bear market and some alt coins will make insane gains. The BTC bear market will also butcher many other coins along the way, no doubt. The whale money will not end up in fiat. We might lose 50 billion or so but the remaining 120 billion market cap will slowly start accumulating over alts.

Ofcourse this cycle will repeat once more somewhere in the future like it happened some years ago. We are at the peak of the current BTC cycle right now. Act wisely. Remember how happy you were a few months ago to buy the cheap alts? Well, that’s exactly the spirit. Remember, the blockchain is not yet to the point where it affects us ideologically — to the point we all become long term Bitcoin or even alt investors. We preach it but we don't really believe it. The market shows actions, not words like that bullshit you hear from Bitcoin evangelists in symposiums, seminars and youtube videos. If people were really believers we wouldn't be seeing so much insane volatility in the billions. Don't be a trailing noob, slowly bleeding out while whales pick up your blood drop by drop. Either invest and forget or try to walk on their side. Any other strategy will bleed you dry.