Erwin

Sad day in NL, the Dutch government is expected to pass a bill introducing a 36% tax on unrealized capital gains. This will destroy long-term strategies, kill compounding effects & trigger a wealth exodus of biblical proportions. But they'll pass it anyway. Can't fix stupid.

Bitcoin currently going into its 6th monthly streak of closing in red. In the ENTIRE history of Bitcoin's lifetime we have never closed more than 6 months in red. Keep in mind we just started the 6th month. We haven't closed it yet. Meaning we only have 5 red months behind this. After this month there has never in 15+ years been a longer losing streak. Now to clarify things: Just because there never has does it mean there never will? Ofcourse not. Those kind of expectations have often gotten people rekt. Every new event after all creates a new precedent for the future to compare to. What it does tell us however is that it's a fact that we are heavily oversold short term. So oversold that historically we've always been close to a local bounce at the very least. Not necessarily the true bottom are true reversal yet but a bounce very likely soon. This aligns with my thesis that we're heavily due for a recovery wave that can extent (imo) until ~$80k. Need to reevaluate from there.