The last part will depend on the person itself. There are a lot of different people who bought for different purposes, most are for sure investment. And they are only Bitcoin maxi, so about selling or taking profits, it's normal for me, it is nothing to do for being a Bitcoin maximalist, even they sold totally or sold some, some people could buy buy again in the future, like in cheaper price.
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I rather zoom out to the chart and use higher time frames to really check the bottom. Basing previous prices is good to spot the bottom, using other levels as support.
So for me, very high chance that we will test the $30,000. As it is acting psycholigical support for everyone. Very high possibility that that could be the bottom or huge candle wick on $28,000 - $29,000.
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Here's an addition to "Why shouldn't you panic?" of OP.
People especially newbies must also be aware that this bloody market action recently is not only happening in the cryptocurrency market, if you take a look at the stock market, they are also suffering. I am more likely worried if this bloody market is only on cryptocurrency, this is like global effect, for all the market not only in Bitcoin.
The Dollar Cost Averaging (DCA) method this time is extremely effective, with the drop from $40,000. Oversold market, then if even we will drop again, I am positive that we will not visit $20,000 or below again.
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To be honest, if you can comfortably afford to take your wage in Bitcoin then it's probably a smart idea. Dollar cost averaging has so far been king.
^ Yes, this is one of the best things to do if you want to accumulate Bitcoin especially in price like now. Instead of buying using your fiat currency, why accept your wage in Bitcoin. But then again, it will also differ on every country, just like in US, said by the OP that it's not yet possible to take a wage Bitcoin directly, but they can always conver those USD received to Bitcoin once they have it already.
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I am also using Solana right now and to be honest, I started to become pissed off with this issue of theirs, once or twice happened, is still OK for me, but this time again? Something is wrong.
I am just amazed how the community of Solana is active, even their team, if take a look at their latest update, Solana made an update right away for the fix. Let's hope this will be the last time.
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Even if you will say NFT is just a normal picture file that can be copied and pasted, or only JPEG. The way how it is implemented, how it was minted on blockchain with only limited supply, that's how it become unique for me. But the way you think how much expensive they are, I am also thinking about it. But that is an art, artists should be rewarded. So it's normal for me.
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Sometimes I feel not good after paying a High Fee on ETH, But I want's to know why this? ![Huh](https://bitcointalk.org/Smileys/default/huh.gif) I feel my emotions with this ![Huh](https://bitcointalk.org/Smileys/default/huh.gif) Ethereum has now become a chain for whales, if you are just a small person who just doing a little transaction on Etherum, you will just eat by transaction fees especially if you are interacting with a smart contract, with got higher transaction fees to compare to normal transferring Ethereum/ERC20 tokens. My best solution is find other chain alternative to Ethereum chain, other chains are already proven that cheap transaction fees.
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![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2FwU2es06.png&t=664&c=ztJxJeSM3zy_8Q) The difficult part is here, in March 2020. Look what happened, Bitcoin broke down below on that trendline, it could happen again? We will not know. But if we will use this basis, it is more positive to happen, only 2/3 happened since 2018, because last March 2020, it broke down, the other 2 bounced back. So, another good basis for buying this dip.
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(...) Why don't they come to advise us in the these times. Maybe they are unable to face the public because they have given too much unrealistic hopim to the people ?
This is normal, most of them are going with the hype, if bullish, I believe that's the time to Bitcoin will get more attention or other cryptocurrencies, that's why other influencers are extremely active during bull run because they know that they will get more people for their content. So, that's why I am really hats off for those people who are still active even bear market, whatever market we have bullish or bearish they are still into it, that's what you call passion and commitment.
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(.....) My hashrate is enough to mine 500k shiba per day so I can get all this over with in just a month max, what do you think?
Considered this as a gamble, high risk. We all know what meme coins are, high risk, high reward. I have a friend of mine who is just new to cryptocurrency before and she invested only in a meme coin, I think it was shiba inu, and when the peak of shiba inu, she sold most of her holdings, and the profits she made is extremely huge! So, yeah. No one knows what is the future, if that's what is in your heart, go for it. Just don't go all in, lol.
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Not just FUD, some of the FOMOs created are also used by whales to manipulate the minds of novice investors to enter the market, so that the market will move at the price they have set. (....)
This is already given, as time goes by FUD are starting to become a normal thing on Bitcoin space. Another problem we have is those people who are trading with extreme leverage, this is one of the reasons why we keep seeing a huge candle wick on the chart, over-leveraged trading. To be honest, a lot of people crying now because of the dump, and I consider those people are "newbies" as if they experienced some huge dumps before especially in January 2018, this thing is normal for sure. Here's the current Bitcoin Fear and Greed index: ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgflip.com%2F62aw5i.jpg&t=664&c=7JRb4E6DUdO2Fg)
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(.....) Do you have any experience with this method, which software/programs do you use and what tutorials do you follow to learn it? P.S: I see that price differences especially in low cap altcoin and I think I've actually found one example so I'll share a screen, let me know if this could be a valid example and how would you deal with it. https://i.postimg.cc/MK4WjdSs/pic.pngAnother thing to do is do not indeed rely on platforms like coinmarketcap, there could be some issue displaying prices on different markets. If you want to make sure, go check the price of it on the exchange you are looking for, so you will be more sure. I believe they are only displayed by API, so there could be any issue from the side of coinmarketcap for displaying sometimes the price.
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The purchase price of Microstrategy in Ave is around $31,500. Additionally, Tesla's average buy-in price is $36k. Is Elon going to sell?
What are your thoughts, gentlemen?
They are buying more for sure, to be honest, these days is the best time to buy Bitcoin, look how discounted it is. And for Tesla, I am pretty sure that what's their Bitcoin balance is just small for them so I am positive that they are not selling it. Even Michale Saylor, Microstrategy. We all know how huge a believer of Bitcoin Saylor is, they got diamond hands.
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After $40,000 broken, $30,000 now will be the psychological support for me. If you take a look at how huge the dump was when Bitcoin broke $40,000. The $40,000 is now acting huge psychological resistance.
It's just sad that the dump is too huge, it's not healthy for me, I am expecting some bounce here and test the $40,000.
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If you guys experienced the last quarter of 2017 and the beginning of 2018, it was almost the same. We saw a huge run on last quarter - last month of 2017 and starting on January 2018, dump started.
I am just curious for now because not most of the altcoins pumped, compare to before when a lot of people telling us that was the "alt season".
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Now to encourage cryptocurrency investment he have installed bitcoin ATM on all his restaurant branches. (....)
As of the moment, this is one of the best act they did so far. Even they don't yet accept Bitcoin, doing like this, it is already showing support to Bitcoin. For sure, the owner learn so many lessons, especially on finance, how Bitcoin really works too and he also learns how to invest properly and the power of Bitcoin as a store of value.
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Though I am not a big fan of XRP but I would prefer XRP and ADA to invest now at dip. 70% investment would be into ADA and 30% into XRP.
Why XRP and ADA? For me, not a good idea. It's kinda old school for me, there is a lot of new cryptos that is worth investment, I don't really see the use of ADA and XRP until now, that's why I am still curious why these two altcoins are still on top market cap even there lot of new altcoins are much better for them. Shib has a lot of holders and it can rise anytime. We need to be patient for this. Some days ago shib pumped with a great value. When market will be stable and after getting a good news about shib, we can see a great move again from Shiba Inu. Let's hope for the best.
This copy-cat memecoins trend is already done for me, it's over. Animal coins or any meme coins related is more likely over for me. I'd rather invest in dogecoin, compare to other meme coins. Have you heard about the upcoming upgrade or changes on dogecoin? I am not sure if that is only humor but I believe if this will happen, a very big hit for dogecoin.
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Have you ever used a bot to automate your trading? Do you trust it enough to make the right decisions? If trading bots are as good as they claim, why are folks not using them as much as they should?
I haven't tried yet to use any bots to automate my trading. But my basic understanding of trading bots is it is more likely to follow your configuration if you set any, like your analysis or conditions when to buy/sell or stop loss. I saw other trading bots are using pre-configured settings on tradings if you don't want to create your own. Or there are some trading bots platforms that some configurations are public and you can check how the configuration works and it's up to you if want to use it. So overall for me, I can not say that using trading bots is not good, as long as you know how it works and you understand it, it's good for me.
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Because there are so many crypto signal providers now, it's hard for me to pick the right one. Many of these crypto trading signal providers have a good record of giving out good signals, but some are only in it for the money. This is what you need to know about these people. So, which is the best source of crypto trading signals, and which one should you use to make money?
This is difficult. Some people may tell you that looking forward to crypto trading signal is bad but I can say it is somehow profitable but it still depends, you still can't 100% guarantee, and another thing why relying on trading signal is bad is because you start don't learn something because you are just waiting for their signal, you will start don't analyze by your own. So overall, if you will try to look forward to some free trading signals, it will like not to be fair because you could be their bait, and another thing is on paid signal, it is more likely safe on "bait" things but then again it is still difficult since there are already a lot of them, you can't tell that group is only 1 created under the people behind.
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~snip~
Now, what would happen if you failed to apply it correctly? the answer would be, it is either you quit and just wasted your time studying trading or continue and finish what you've started.
If they always learned I think failure will be minimized. Although it failed/mistakenly it could come at any time. If they decide to quit, it seems like a wrong decision. Everyone can because of learning, I firmly believe trading is something that can be learned. So in the end it's just the will that works. If you try once and lose it is natural. If they move has failed then I think their perception is wrong. Beginner traders must be resilient please try without giving up by sticking to the risk management you have learned. I'm sure if you keep trying, it will work. The article posted by the OP has a lot of info to digest with. But if you are starting in trading, just use small amount of funds that you can afford to lose. All of us here start from scratch. We don't know crypto when we entered here. So yeah, it is a matter of time before we learn things here. And still, everyday is a learning day for us as we embark different scenarios here. There's no defined formula in crypto trading. So the more experience you have, the better insights you get. And that will help you in your trading journey, that is, if you don't quit. Well, no one succeed if you are thinking about quitting. So just keep on trading while learning more in trading. (....) ] ^ This is one of the common mistakes of newbies or those people who are just starting to trade, they don't have dedication or commitment, after few trades or few losses, they stopped trading, they don't know it is part of the process, not all trades are winning trades. So, they must take it as lesson and apply learning from their mistakes on previous trades, correct those mistakes on next trade.
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