Bitcoin Forum

Hello fellow crypto traders,
  A few days ago I published an article "Is it worth the risk" on my blog and a few websites and I believe that it may contain some useful information pertaining to crypto and trading. Especially if you happened to be long yesterday and took a hit on that nasty pull-back. It costs nothing to check it out and a quick read. https://goprimexbt.com/2019/09/23/is-it-worth-the-risk/
Just might be the solution but you have to act fast.

A clip from the article the OP posted:


What does everybody think of this??  This sounds like putting a carrot on a stick in front of a bunch of hungry donkeys.

The OP, "Goprimexbt?" Sounds like some hardcore shilling by the site owner. ;)

"Buy a full bitcoin?" Sure, on leverage, where you can't withdraw it. And your 0.01 BTC is about to get liquidated because all it takes is a 1% move! Or maybe even less due to maintenance margin policy.

Don't touch 100x, or even 20x really.

Another shilling for PrimeXBT.  ;D

I love the introduction though but as expected for these intros that do have some corresponding shill afterwards.
Its true that long positions been hit up and lots being wrecked but as said this is indeed a good position to re-entry but
I would entrust my funds to this primexbt.Ill go rather with Bitmex instead.

It's terrible advice. Firstly, 0.01 BTC on 100x leverage is not even remotely the same as "buying a full bitcoin". Secondly, if you had done as OP suggests as soon as he started this topic and went and bought $100 of BTC on 100x leverage, your position would have remained open for a grand total of about half an hour before being liquidated and you losing everything.

All the links in the article include a reference code, so I don't think it's the site owner, just a naive/malicious user trying to lure other people with terrible advice to benefit from referral rewards.

I agree mainly with the title and some point stated in the article. The current pullback is currently giving a good opportunity to some people who thought they have missed the boat. No one really missed it, but truth be told some have better positions than that of other people. I would say that anything below $10k is still a good buy long-term, but I wouldn’t go far into it by putting random numbers out of thin air to justify my side.

Its because BTC has proven its value

I'm not actually against other coins as I am also holding a reputable coins

Being said that coin reputation and its value are a major considerations for investments

he only talks about bitcoin because bitcoin has a high trading volume and most of them are held by whales. The whales will never let people decide the price of bitcoin, they will definitely pump in the future and that is why he only mentioned bitcoin.

We can't simply say most bitcoins were owned by whales,they have enough amount to stir the market and do manipulation but still most owned by many people who don't have to act as how the whales want.In future the bitcoins will get diluted once more people get adopted but still people need to help the adoption and hold as long as you can.

Yup we must take advantage the pull back because every fluctuation there's always a chance it will bounce back afterwards without knowing.  But I'm not saying we should focus in long term because market isn't stable wherein it's very dangerous for us to stay in the line. So we must be aware also and prefer to gain quick to at least there's a opportunity to accumulate profits despite of the volatility. .

It feels like there is a little nip in the air, like another crypto winter is on it's way...

The pull back wasn't that drastic to make a meal out of the situation and it has started to show recovery instinct, and the year is all most up so I don't see bitcoin getting to $15000 this year anymore, probably sometime next year

It was the strongest pull back in the past couple years.  Longer-term price movements have changed to bearish.

We should have to be considerate also, not just by eating such a meal but we are having this chance, and why not have to grab this? 
Well, I don't see any basis that we could have a chance to reach for $15k or $20k...it is big enough to see the entire market moving up for at least 2%. It is already a satisfying and fair price for me. Well, I don't know the others.

$15000 isn't that impossible to reach before 2019 ends, hopefully it would. The recent market situation is a big opportunity to grab for now as market is showing recovery right after it went down, profit is possible for average investors. I guess this was just a whale trap set up with the launch of BAKKT to make people not to give a shot on BAKKT. What do you think of it ?

the article you provided only contained about 100 times the leverage when trading, I thought about your suggestion to invest in bitcoin, because at the beginning of the article you said bitcoin,
Now we just have to wait for Bitcoin to complete its pullback, because the pullback done by Bitcoin in September is very long.

100X it's the greatest scam in the world, why?

People use to think it's easy not to get burned by 1% price movement, hah! specially in crypto.

But they don't read between lines, because you need some percentage of your position to open a margin, it's something like.. 0.45% of the position..


if you get liquidated at 1% that means when you open a 100X position you at the same time are about to get liquidated if the price move against you by 0.55%

it's tricky.. but that's the way bitmex and other platforms that offer leveraged, make their money.

and this is only the first part, I'm not taking into account the fees you need to pay for maintaining a leveraged position open.

I also agree with you. The owner's topic blog seems to be heading towards expectations. I felt that he was only expecting a bull run and did not feel that he was analyzing practically. With Bitcoin's current bad chart, it will be very difficult or impossible to reach $ 15k by the end of this year.

aa

Haha, The excerpt doesn't mention the risks aligned with using a 100X leverage margin :) Except you're comfortable with losing $100 that is. Aside from OP's Predictions, I do feel Bitcoin would one day – At the very least, Attain a price of $30K or even more. But then, We can't say for sure what comes next.

I agree with you.Below $10,000 is a good entry point. The lower the better, and this recent bearish market is a good entry point but be cautious as it may go down further.Just enter in staggered positions and always look out for news and market movement.

What?! Really?! Is it that urgent to take the bait and click on the link?  ;D

It is true that crypto supporters, especially the newbies, should learn to take a pull-back as an opportunity to buy at a discounted price, but you don't have to say things as if your article is the one and only source of enlightenment people could have.

That is certainly the wrong way to catch naive fishes here!  ;D

In other words, you offer your knowledge in the field of the trading industry, which we have nothing else to do but invest in you and you will turn it into trading and return us 100x profit, do you mean in your proposal. How can you say that every concept knows 100x of leverage?

If you see the drop, the drop went till the 0.786 level from $10400 and rebounded which is a healthy correction as 0.786 is often respected by the market. Hence, this rebound is a good opportunity to enter a trade if you are looking for short term gains.

Though there is a possibility that $5400 might get touched if the market went for another sell off which will take the price to 0.618 level which can only happen if the price goes below $7k. But as of now there is a strong buy demand between $6500-$7500 levels.

Even you do say that naïve fishers but there would be definitely people gonna click up that link.Its true that there are lots of sources on the net
but you cant stop peoples curiosity anytime they do encounter up some links specially if the introduction is pretty well said.

In just common sense as a trader, pullbacks are definitely the opportunity to buyback then rinse and repeat but this will be applicable if you do make short trades.

I agree, this guy is using a very obvious referral marketing to gain profits by his sugary words that only naive people will believe. Come on guys, this is 2019 and soon we are in 2020 already, stop using bitcoin's name in order to brainwash other people to sign up for your referral link that will not really help someone to earn money, this is too old. Why not try to publish more useful article OP like "How to survive this bearish market without panic selling", something like that.

The way I see it is it had been more of an advantage for us already hodling Bitcoin is that if we have shorted it by moving our position from BTC to USD and by that point we have taken loads more in the process if we have risked on selling everything. I myself didn't sold everything and went to a more reasonable sell on that situation and that is selling 50% of my holdings with how things look now I don't think it was the best move but I really didn't expect for Bitcoin to drop this low. The good thing is I have somehow participated with the recent price correction and I expect to gain some when this is over, I'm staring at profits as early as Bitcoin goes back above 8,700$ again hopefully Bitcoin starts to go bullish again in the coming days or weeks.