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Comment by Geee | Hacker News Reader

This is a very good buying opportunity, because this is mostly caused by overleveraged people and institutions having to liquidate into thin markets. Too greedy people are now wiped out. This gives an opportunity for those who have been wiser and have spare cash around. If you decide to buy, buy only the amount which you wouldn't need in a couple of years, taking into account increasing living costs and coming recession.

Obviously, buy bitcoin only. Other coins can have their few months of fame but then fade away.

The price can still go lower, but I think we're quite close to the bottom of this cycle.

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If you are investing here please dollar cost average over the next ~6 months (likely recession/bear market duration) as opposed to buying in one go.

Sell ~4 years from now as Bitcoin tends to be cyclical and peaks 2 years after a halving event.

> as Bitcoin tends to be cyclical and peaks 2 years after a halving event.

Watch out for cargo culting.

I'd say the problem is that no-one can easily predict where the bottom lies right now.

We have Celcius with frozen withdrawals and in an undetermined state having called in restructuring specialists. We have 3ac apparently not talking to their partners with a lot of loans outstanding and margin calls due, then we have all of the other people who were partners/customers of those organizations, who at the moment either can't access their funds temporarily, or may not be able to access their funds ever, so are essentially schrodingers companies right now, until they can get accurate information about what's happening

Once all the companies that go down have gone down, then there's a reasonable chance that a bottom can be called, but at the moment I don't think there's enough information to know.

Yeah, but I wouldn't care too much about the absolute bottom or short term price. Short term is impossible to predict, but it's also quite pointless to worry about. In the long term, this is a very cheap price.

Definitely XBT is still the best performing asset in the past 5 or so years. This correction is healthy.

There is still a lot of leverage and greedy protocols around, but Bitcoin is solid. With all the fear around, I’ll be doubling my DCA (averages).

It’s silly that you’re being downvoted because this is absolutely true. The idea that it would go to zero is mad, it will without a doubt go back up to similar numbers again. This is just a little gift

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