I expect a lot of resistance to reach 50k itself like I said in my previous post. Currently bullish and bearish trends are cancelling each other and price is at 43k which is decent enough to keep the next target at a logical 45k USD and not hope for more right away. Once that is reached, I am guessing altcoins will follow suit before the next bull market starts and the price inches back to 50k USD.

How long this will take, is beyond my prediction. This might be a painfully long process given that the dump was big and there is a lot of selling pressure.

Either way, if you bought before these prices, you just have to wait and see. Altcoins will also rise but you have to have patience and sell at the top without thinking twice.

Any price above 50k will benefit altcoins, but if your primary goal is to see altcoins grow, you have to stop watching bitcoin. Go with either this or that, dont try to get a taste of the best of both worlds.

Indeed altcoins lack any sort of proper development or acutal use case compared to bitcoin, so they end up being pumped and dumped by bagholders who are pumping the prices of these coins.

But bitcoin touching 50k will see a lot of resistance for now if not later as well. Prices can barely keep up at 47k USD and the selling pressure is high among such ranges. My assumption is that there need to be consolidation at 47.5k USD before it can touch 50k or cross it. This will take time.

I think you are confusing between developers and whales. While one can be both like some users in this thread pointed out, they are usually different people, because developers are rare among common people but rich people are common.

It therefore ends up being who invested in what and nobody is going to give you a concrete answer to this because by nature these currencies are pseudo-anonymous.

But you can assume that whales will be there and they will try to influence the market psychology and you have to act against that, otherwise you are the one losing out on opportunities. Whales who raise the prices of some shitcoins are not to be trusted. In this sector, it is better to use your own judgement more often than what whales/"self-proclaimed whales" are doing.

Profit minded people are willing to sell though and it is their personal choice whether to sell or not.

Because the land we are living on is constant but the rate at which we breed () keeps on increasing, the dense population which is going to use a currency will keep on increasing thereby increasing the demand while the supply gradually reduces of newly minted bitcoins. So my guess is that the price of bitcoin will rise even more in future. Stable or not will depend on how we change these two factors, whether humans manage to colonize new planets to live on or whether we use better birth control.

I am curious to know what possibilities you took in trading other than spot trading. Did you go for margin, leverage and options? Keep in mind that these are nothing different from gambling with your money and the only EV+ trading is spot trading.

Since I was in stock trading before this, crypto was a bit different compared to the timing and range of movements. But if you are calm and composed and you dont take every market movement too deeply, you will never face a problem in keeping patience and making a profit. This I have learnt in the older days of stocks, helped me a lot with crypto trading.

My overall experience has been good and profitable, though a bit slow because I play long term and safe.

I still think we are in a "hypobitcoinization" state, it that makes any sense.

Truely the news of some countries accepting and allowing bitcoin legally made so much buzz that other countries are now watching them like researchers on guinea pigs in a closed cage. It will be like this for several years now until more countries start to end the fear related to cryptocurrencies and the general public takes it more positively.

In the meantime, fiat will prevail and even in future both with co-exist so that term is probably never going to be real unless the economic system changes a lot.

It is a report of numbers and should always be taken with a grain of salt. If you ask on this forum, how many people love bitcoin, you will get a more than 90% positive answer, but does that not represent the entire world but a niche group only.

I dont mean to demean the survey done here, but the point is that these numbers dont mean anything unless there are positive movements from the sector itself. How many legit projects did we see that actually made an impact in the market instead of being a vaporware? Clearly that number of very small till date.

It is good to see adoption of crypto increasing, but it is still in its baby phases, with scams everywhere. Awareness and knowledge needs to be improved first.

You are talking like a pro trader. I hope you do that when trading on your own too.

Panic is a part of the market. It exists and therefore the market moves. While there are good traders who know that buying when panic selling is happening gives them a discount, there are also those who will continue to panic sell.

It is just a matter of maturity among the traders. Those who know how to handle movements know how to keep calm during trading.

But them again one should know how to place a buy/sell order at a price worth it in order to prevent such panic.

Very few crypto projects are that clear that you can invest without risk. Most of them have some sort of word-jugglery in order to fool investors into putting in more money than they can afford.

In reality, the IPO/fiat market is way more regulated and safer compared to crypto ICOs. But then scams will be everywhere you try to look.

Truely, projects that say they can multiply money in short period of time are scam but newbies like to believe in them.

I appreciate the fact that you realise this mistake and hope to prevent it in future but it is wrong to say that in future there might be shitcoins that go up. Shitcoins will always remain shitcoins no matter what happens to the primary market. There are some exceptions but not worth putting your time and money in. So why waste thinking about those countless projects?

If you would say the same for Bitcoin and other top altcoins I would say that you learnt a lesson and don't repeat it in future.

Only few countries have done this and not the democratic ones as far as I am concerned. Since we have a number of countries out there who have not decided their stance or declared it, you could say that that many number of timew FUD will be created regarding bitcoin. But that does not change the reality that without banning internet and stopping electricity supply you cannot ban bitcoin use.

About weak hands, I dont think they can ever be remove from the bigger picture. They are a part and parcel of the trading ecosystem but they help in moving the market too.

Everyone is looking for profitable coins, you are not the only one here. But there is no need to search because we already know the most profitable one, bitcoin. Thing is that people find bitcoin's price to be too big to digest a single coin and hence they think about putting money on altcoins which have no value.

As soon as you realise this the better for your portfolio. Otherwise you will get fooled every few weeks when a new shitcoin developer comes in with their pitch.

This is a flawed narrative. Trading is not a day job where you make money every month or week. It is a risk-based sepeculative game where you have a chance of losing money as well.

Before crypto was popular, stock trading was already there. Did that solve an unemployment problem? Or did it bring more people to debt because they were taking undue risks in markets beyond their control?

If someone is unemployed they should work on skills and get a job first. Trading should be kept aside for the time being. It's called prioritising.

It would be justified if the ROI from mining would cover the cost of setting up the farm. Most countries don't have cheap electricity and neither do they have a cold climate to remove heat. Moreover the competition between farms that are already established is high and getting skin the game is a tough thing for a newcomer.

Hence the logical thing for an average investor is to start buying Bitcoin at lower price.

Another thing is altcoin mining which is again a rat-race game. if that suits you then go with it, but the lack of guarantee that the coin is going to be anything in long term is there.

I dont agree with not trading on major events.

Your trades only mean a number of buy/sell orders. You place them and watch the action as it unfolds. This patience should be there in every trader. During a major event your extreme buy/sell orders have a chance of getting filled and therefore your fiat<>bitcoin ratio changes in your holding. This is necessary for long term trading. Whenever the market falls you will buy and sell when it rises.

The extreme end orders are safer than the narrow end ones. Like buying at 30k and selling at 50k - pretty safe if you ask me, as compared to buying at 45k and selling at 47k.

It depends on how you define "best" and in what terms. To me any asset is worth holding when it has been time-tested and stress-tested to regain original levels after every bear market and bitcoin is the only coin that has been doing that for years now. Altcoins are also available to everyone but they carry their own risks. If you are interested in one, by all means go for it.

But be careful of not becoming subjective with your statements when trying to fill your portfolio. Most newbies end up in self-dug holes because of this only. They put in money into some hype based coin (not that BNB is one, for now) and try to rise the hype ending up in a sudden drop in price.

Indicators only indicate what the market movement might be, they are only 50% correct, just like a random dice roll is. Indeed high volume movements can move the market in the same direction due to the sudden panic but these things cannot be predicted over indicators.

Hence indicators are mostly used to get a general idea of the market and to assess whether a day trade profit might be possible or not. It is not going to be useful for a long term holding strategy. Hence you will see users commonly day trading with bots that have programmed indicators on them. To be honest, they dont make profits always but they execute the code if programmed properly.

Obviously, everyone is getting the same answer when using an indicator, in other words, day traders are always facing the same problem. Luck becomes a major factor there.

Once you get a hang of how the market moves, you would not be spending too much time watching charts. For example, I am currently on buy order at 30k, does that mean I am watching the market to drop to 30k? Obviously not, because I know it will take time and there will be times where the order will not be reached, so have patience. Trading is a long term game for the patient people not the impulsive ones.

Expecting advise from others where it is the same group of people you are competing with is a tough thing to say. There are some general concepts beyond which you have to make your own decisions and do a lot of paper-trading to be able to judge your own skills.

Like buy when the market falls and sell when the market rises. Most people end up doing the opposite, which is easy to see but only possible to execute when you are watching for a long time and not trading yourself.

Assuming you held it for a year you are no longer a newbie is the first place.

Either way, if it is an altcoin, I would sell and book the profit to buy bitcoin. But assuming you are an altcoin collector since you talk about "growing your wallet", you would likely pay no heed to my words and keep holding it. In which case you will soon confirm your own folly that the coin will go down in future and you would have lost an opportunity to profit.

Seriously speaking, you can grow your profits but it takes time and patience. You cant make money out of thin air but you can buy bitcoin and hold it for long term to sell.

Once someone sees a use of Bitcoin they will definitely try to learn how to use it. Necessity is the thing here, otherwise the inertia to remain ignorant about Bitcoin remains as it is. In most countries bitcoin is something that is already having a negative picture plus there is no use of it among merchants. In other words, the marketing of Bitcoin as a payment system with advantages over fiat is lacking.

Because centralized systems exist Hance bitcoin is facing this problem. This cannot be changed by force because that leads to aversion among common people. But I am hopeful that th situation will chang in future.