It seem graph charting and technical tools might not be accurate at this time as Cryptocurrency market is unpredictable. Bear market has certainly set in and in my experience, market cap will only dip from here affecting all coin prices on Cryptocurrency market.
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I will go with your number two strategy if I were you. Putting your profit in stablecoin while you gain interest on it until the bear market circle is over is the best way to go. The Cryptocurrency market is unpredictable especially with new institutional investors selling and buying, you will never know how low market could sink!
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I do not like the direction this is going. Elon is trying to make btc succes dependent on so called 'clean energy ' Bitcoin is already successful and does not need lower energy to be used or accepted. I do not accept the negative narration they are trying to make about bitcoin!
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It will definitely be tragic for those that base their buying decision on tweet by Elon or any other person for that matter. Manipulations is in different levels and you can get con while you think you are making a logical decision. For me personally, meme coin is no-no! If meme craze continue, I will have to wait for when the market will be sane again!
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I think the right approach to Cryptocurrency investing is to be objective about it. There are so many altcoin that seem believable but yet, it is all lies. Anyone or group of individuals can justify the reasons you have to believe them with fact and figure, but this space is still unregulated and no one can hold them accountable if they fail on their promises.
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I do not think there is absolutely answer to the option of chosen best or bad coin between bitcoin and ethereum. Both bitcoin and ethereum actually compliment each other nicely as both of them have their best part and not so much fun part. Bitcoin is a reliable store of value while ethereum is good platform for smart contract.
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My top pick for the dip are:etherum, Cardano, Polygon, a little bnb and of course the bitcoin! People still believe that the dip in the prices of Cryptocurrency are not here yet, there will still be dipper dip when bitcoin begin to sell under $20000. I am loaded and waiting for market to recover and if doesn't recover, I will be buying the lower low prices as it comes!
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I did not see this coming. Dogecoin literally took us by surprise. I think the price of dogecoin was helped by the new comers in the Cryptocurrency left to old Cryptocurrency users, dogecoin would not have rally the way it did! Now, price are correcting in Cryptocurrency and those that know how this works will be taking good position!
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Binance coin rose from $30 to $600 in less than six months. That is a very awesome development for bnb. Now that the market is bearish, we can expect to see lower low in the price of bnb. Binance coin will still do well in the future, but not at this point. The deflationary effective of binance coin we help in increasing the value of bnb in the future!
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I definitely recommend staking, staking is good and will increase your holding over time. Before you join any staking program however, such coin and staking platform must be fully audited, it must also must have had the team renounced their contract for proper transparency and fairness. The platform of such staking must be decentralized as well to avoid manipulations!
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It depends on altcoin you want to invest in. If you invest in a coin like ethereum, Cardano, and other worthy altcoin that have proved themselves over and over again, you are safe with such altcoin. But if you buy experimental altcoin with no track record, you may be buying into someone wishful thinking!
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Whatever rose 168,000 percent is heavily manipulated. You will notice such coin does not have volume, no liquidity, and such coin is not fairly distributed. If you buy such coin simply because it's rising, I guarantee you you are throwing your money into a pit! Do not let your greed have a hold on you, do not buy such coin!
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Regardless of how well intentioned project is at this time, the effort and hard work putting in development of new project may not pay off! As an investor, it's important to understand Cryptocurrency market dynamic and how it affects the rest of the market and especially new project or under the radar altcoin!
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Bitcoin was and still the best Cryptocurrency to invest in. You should also look at altcoin for some of the quality coin that are decentralized and secure like bitcoin. Buying Cryptocurrency at this point in time is especially shrewed and good. New buyers of Cryptocurrency will be getting good bargain on the dollar!
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Looking at the trend, you can see that bitcoin will fall below $30000. The downward spiral of price of bitcoin is iinevitable in the short to medium term. I think we need to brace up for wild swing especially for those that are holding bitcoin from $50000 to $60000 range. On the flip side, bitcoin low price is an opportunity to accumulate and secure your position!
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To become very good at trading and investment, you will have to go through different type of temptations and experience. The result of you paying your dues will be you become a refined and skillful trader and investor!
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You could short bitcoin in a simple form, study the chart and decide whether bitcoin will move up or down, then buy or sell and when any of your prediction come true, take profit and re-enter to buy your previous holding!
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I was able to make good profit on my bitcoin last year and I also made decision to hold several asset apart from cryptocurrency. I held 50% of my profit in bitcoin and the other 50% in real estate. Today, I have residual income coming from real estate!
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