This is true, holding is not an easy thing for everyone who doesn't have any funds in trading.
You don't need to have funds to trade if you have no intention to trade but to hold. But for me, it is important to manage your money and try to put an amount of money that is just for trading purposes only and do not sell your coins specially when you are getting nervous because of the price drop.
If you have no plans of selling it, you will have to hold it without any need to worry about trading it. Holding is easy if you have surpassed the bear market and still holds some assets. |
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I don't think that the rich can hijack cryptocurrencies now or in the future. Cryptocurrencies will never be special for a certain group of people. There is no way that only the rich will own all of the Bitcoins in the circulation. Every kind of people will always be able to buy whatever amount of Bitcoin they would like. Therefore, I don't think that 21 million is a small amount.
They may or may not but the fact is that they can influence pretty well. It's not all about that they can own all the bitcoins or other cryptocurrencies but they can manipulate each market at their own will. And for them to do that plays a big amount out of their pockets or corporate budgets. |
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El Salvador is already one of the people that big investors talk about, because he has strong principles against the large number of bitcoin adopters after he legalized bitcoin as a legal medium of exchange in his country.
There are not yet that many adoptions in El Salvador, despite not having that many adopters in that country, still the government pursued it to be adopted as a legal tender. while the market conditions are fluctuating, will he be influenced to sell or will he continue to survive? current issue!
What do you think about El Salvador amid price fluctuations?
It will survive and just continue what they've been doing and that is to buy. In fact, they've just announced that they've bought recently through Bukele's twitter account. |
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We're not yet in Bitcoin's prime, not yet.
We're not yet at the best that it can make and there's a lot of room for bitcoin to grow in the future. Everyone who looks at the current price and serves it as their basis that it can no longer be good in the future doesn't really see the future of it. Be patient and wait, if you think that there's a great future that awaits for bitcoin then hold. |
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True.
Another thing is because most houses and people in rural areas have a far allowance from each other so contact isn't that much, it only sums up that social distancing is very effective.
If the rural areas are more responding with the vaccination drives, they understand the importance of it. And as it goes with the food supply, they're more easily responding to the shortage with the crops that they have and they have a plan if there's a food supply shortage.
Agreed with the first part, but not with the second. The spread of the virus has been more in the urban areas. But as a resident of India, I haven't witnessed any large scale shortage of food items here. Maybe in other countries that is not the cases, but here the farmers have actually suffered from low demand and in some cases they were forced to destroy their produce due to low prices. A lot of people have lost their jobs and this has driven down the consumption. That may be the reason for low demand. There's a low demand, let us say that and there's not that much cases in rural areas per se. That's good for those places that can live for a quite a while to survive through what they have in those rural areas. It is true that the virus spread is more with the urban areas. That's why those rural areas that are not in the problem of the virus, they are free to live well and think not of any food shortage on their areas. in urban areas, many people work in offices so they are vulnerable to contracting this virus. On the other hand, with rural life where every day working is like playing sports, because they work in the fields, few of them are affected by this virus, and their activities seem undisturbed. but for food shortages, in my own country there doesn't seem to be a significant food crisis, everything is fine Yes they do, nobody said that they're exempted or unlikely to be infected. What country you live? If there's no shortage of food then that's good for you and I think that everything will start to normalize by next year and shortages will be filled for those places that are dealing with this problem. |
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As a trader you should always continue to develop yourself and your strategy. But your point is dependent on the kind of strategy that you are referring to. Indicators stop working because they are only based on mathematical equation but price action is constant and will always apply to any market.
Yes, there will be a time that indicators will no longer be working and that's why you have to be resourceful for you to keep going with its effectiveness. It's the usual that you have to look for something new if the strategy does no longer work. |
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risk is the real proof when it comes to trading. It takes mental stability and being able to control emotions when the market situation is beyond the initial target when trading. So the importance of risk management because the market is so volatile that risk has become a part of trading. So for a trader at least minimizing losses is very important rather than continuously losing his assets.
It is for minimizing the possible losses. A trader knows how to manage the risk and even calculate it if it's needed. This has become a standard for the traders because they're all for the safety of their trades from huge losses. |
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World market is down.
And here goes again the correlation of bitcoin and the crypto market that sometimes happening. Although in reality there's no straight connection of bitcoin and stocks but I've seen it a few times that it did.
No, you have never seen this correlation ever. What you saw was the propaganda I talked about above in the media and didn't follow it yourself and didn't do any research. Last time we had this propaganda was during the pandemic when COVID broke out. Bitcoin got dumped because the propaganda had convinced everyone that bitcoin is linked to other assets and as they were dumping then bitcoin should have dumped also. But it backfired as bitcoin was done dumping and it reversed back up while everything else continued dumping. While bitcoin went up 100% above its pre-dump price, those other assets were still trying to recover a tiny portion of what they had lost. This little fact attracted a lot of money from those assets and is one of the reasons why bitcoin price is currently 1306% above its bottom price at the peak of propaganda while many of those other assets are not even at their pre-dump prices, most of stocks have gained very little after the recovery and so on. Now you tell me again where exactly did you see this correlation multiple times?!! I'm not an expert and economist but with what I've seen in the past is that when stocks was down, bitcoin was also down too. That's just based on what I've seen. I don't know much about this propaganda but thanks for this because I've learned something new. That's why I've said that there's no straight connection on it and it's just my opinion that I've seen it being correlated few times as they've been down together at the same timing from what I've seen before. |
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His tweet says that they've got now 700 bitcoins in total and that's around $30M if price is @ $43k. "Dictator of El Salvador":
Yeah, I saw that too when I've checked. He seems to be proud of it putting that on his bio. |
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True.
Another thing is because most houses and people in rural areas have a far allowance from each other so contact isn't that much, it only sums up that social distancing is very effective.
If the rural areas are more responding with the vaccination drives, they understand the importance of it. And as it goes with the food supply, they're more easily responding to the shortage with the crops that they have and they have a plan if there's a food supply shortage.
Agreed with the first part, but not with the second. The spread of the virus has been more in the urban areas. But as a resident of India, I haven't witnessed any large scale shortage of food items here. Maybe in other countries that is not the cases, but here the farmers have actually suffered from low demand and in some cases they were forced to destroy their produce due to low prices. A lot of people have lost their jobs and this has driven down the consumption. That may be the reason for low demand. There's a low demand, let us say that and there's not that much cases in rural areas per se. That's good for those places that can live for a quite a while to survive through what they have in those rural areas. It is true that the virus spread is more with the urban areas. That's why those rural areas that are not in the problem of the virus, they are free to live well and think not of any food shortage on their areas. |
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Bitcoin price is still below 200 Daily MA/moving average which means very weak. Is this the time that we can see bitcoin below 40k$ or back below 30k$ is there something wrong or negative feedbacks that cause this dropping of the price? Do you have an idea about this dropping guys?
World market is down. And here goes again the correlation of bitcoin and the crypto market that sometimes happening. Although in reality there's no straight connection of bitcoin and stocks but I've seen it a few times that it did. |
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People panic sell based on what they see or hear and how they interpret it. Sometimes the sell is not because they think it will drop to 0 but because they don’t want to incur significant loss.
And like this time. There's a likely that many have panic sold because they see bitcoin dropping in price. It's the usual situation that we see people panic selling because of having no concrete plans as they hold and buy bitcoin. Of course with time they’ll realize they should have just held their coins.
Yeah, they'll soon realize that they should've held it. |
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Yes, it's a good time to buy.
And what you've said is likely to happen and you only have to wait after buying and it will eventually recover. If you still haven't bought it, think of it and if the price is already good for you to buy.
The others are panic selling, then you have to be calm and do the buying.
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Every strategy can work for long term and as well as not after benefiting from it for a long time. It only means that it doesn't work any more and you have to change your strategy when you trade.
Learn something new with strategies and that's all you need to do to cope up with your losses.
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Yes, those people and communities that are in rural areas have been well to neutral with their lives while they're dealing with the pandemic too. It's not that bad as the people in the cities.
For the coming back of jobs, there's a flexible idea that has been implemented since last year about skeletal force and working at home. Well at least with these flexibility, they can come up with something to provide and can still bring food to their tables.
The pandemic, at least in the initial phases impacted the urban areas more, because it's spread was slower in the rural regions. But the new virus variants have changed this situation. Look at the United States. They are now reporting almost 2,000 daily COVID deaths and a majority are being reported from rural regions. One reason for this is the lower vaccination rate in such areas. Urban population has been more responsive to the vaccination drive, and they have better accessibility as well, to the vaccination points. That is not the case with the rural regions. True. Another thing is because most houses and people in rural areas have a far allowance from each other so contact isn't that much, it only sums up that social distancing is very effective. If the rural areas are more responding with the vaccination drives, they understand the importance of it. And as it goes with the food supply, they're more easily responding to the shortage with the crops that they have and they have a plan if there's a food supply shortage. |
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The major reason why newbies lose a lot of money in the market is due to lack of patience most newbies are not willing to submit to time to learn the skill sets that will give them an edge in the market. They just feel they can manipulate their way or learn a few strategy and start printing money. You have to submit to time and acquire the skill sets before you can even think of making a dollar from the market.
It is not all of the time that they lack of patience. It's also lack of experience because even if they lack of patience but if luckily, they've sold at the right time still they don't know when to buy back or make a profit for those trades. About that feeling of printing money, someone who thinks like that as a newbie is thinking too much. |
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It isn't easy.
And in fact, there were more that are losing bigger than winning even if they have bigger capital. There are strategies that can prolong that and at least make profit out of it.
Bigger capital does give out versatility and of course it does always have the advantage but same as you said that chances or odds on making profits will really vary no matter how much your capital is. Trading is indeed a game of capital because you cant do such investment if you have none.Of course you would be needing to invest something to earn something. This isnt just like on earning money without risking anything and that thing doesnt exist on this world. It is just depending on how you would gonna play with your capital and make it grow but of course it wouldnt really be that simple. Well, that's a clear thing that you cannot trade if you have no capital. It's a game of money and you need to grow that which means that you have to win and make the others lose in the market so that you can keep going. The higher capital, the longer you can stay but still reliant on how good you are. |
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I think people who have a lot of fund will have opportunity to gain bigger profit. But it's not a guarantee.
There is no guarantee but the favor is with the person that has a bigger fund and likely to be financially free. Have freedom in investments that he choose like owning bitcoin and won't be too thoughtful if the market crash overnight. One of the advantages of those people who had really money to spent on or simply those rich ones and this isnt talking about being mandatory because we are all striving to have lots of money and thats why people do end up lots of ways or methods for them to achieve that certain state and not all do really end up on being successful thats why even if we do like it or not then we would be surely experiencing the reality. We are trying our best to gain profits for us to obtain such condition or state.This is why it would be only possible through investment and become successful into it. It's not mandatory because not everyone are in that situation. For those fortunate traders that have a big to start with, they're on a better situation but the results will still lie on their hands how they're going to trade. |
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I think people who have a lot of fund will have opportunity to gain bigger profit. But it's not a guarantee.
There is no guarantee but the favor is with the person that has a bigger fund and likely to be financially free. Have freedom in investments that he choose like owning bitcoin and won't be too thoughtful if the market crash overnight. |
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One thing I noticed is that with big capital, you tend to stretch yourself thin amidst various coins that you should not have been in it in the first place. When your portfolio has lots of cash, you will need to be more cautious and discipline as you might probably let your guard down and trade more than you should learn!
It's not every time a trader has a lot of capital, it seems to be a win for him. There's still a need to be good at picking his coins to trade. Many terms and strategies can be done like the eggs and baskets but it's not always all of the time that too much diversification is good. Indeed, there is no guarantee that trading with a large amount of capital will get a big profit too. Because trading is not easy, need good analytical skills to predict price movements in the market and also need to choose the right coins for trading. Choosing the wrong coins can lead to losses, so not always trading too much diversification is a good thing to do. Therefore sometimes it is better to trade with small capital and only use 1-2 potential coins, compared to trading with large capital with lots of shitcoins there is a possibility of experiencing losses. It isn't easy. And in fact, there were more that are losing bigger than winning even if they have bigger capital. There are strategies that can prolong that and at least make profit out of it. |
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