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I am aware of the scams in the crypto space, and this is a global pandemic, it's not necessary to donate money to other countries, what I did is I just help in my own community as we are still lock down until now, people losing their job and business are closing, in a small way I also did my help by donating the basic needs like food.
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We usually do "HODL" when there is big dump, that's where we are tested on how strong our faith on bitcoin and in crypto in general.
This is the best time that everyone should be holding, selling when the price is going down does not give us benefit, the opposite is the right thing to do here if we still have that funds to accumulate at dip. Bitcoin will always bounce back, we will be able to get pass this trial, so "HODL" and we shall get rewarded at the right time.
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Well, from the price of $4600, we can say it's recovering, however, comparing the starting price against the current price, there is not recovery yet. At January 1 this year, the starting price was at $7100, while the current price now is $5800, still below the starting price, therefore bitcoin needs to at least rise to $7500 so we can say it's really recovering. Today bitcoin is down 5%, that' significant, hopefully it will stop and bounce back. https://coinmarketcap.com/currencies/bitcoin/ |
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And we are back again, the market has struggle and we might see a price lower than the price one year ago per OP's post.
Hopefully those investors who panic right now will see this and realize that bitcoin drop to this low before we pump high last 2019 at $13k IIRC.
Price is not big deal in trading as I know the trading of bitcoin is all about price so its volatile coin and in a timely manner the price will move up and down if the price is low then instead of selling we should keep hope and never sell your coin at a panic time. It's really good to know if the price is down today so after a few months it will be again high and you will not face any regret for holding your coin. There are two kinds of traders, there are short term traders and long term traders, if you are into short term trading, maybe price does not matter a lot but its fluctuation because all you need to do is fight the right timing for you to get it and get out and make profit. However, the other side which is the long term trader, which I admit I am one of them, we like to see a price increase and we hold as we hold longer, bitcoin will rise so we can reach on our target to sell at a good profit, yes, usually long term trader likes bigger profit. |
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It is still very possible for bitcoin to fall to $3880 and even below but that is not what matter. It is how bitcoin do recover from it downward trend that matter and it is patience we need more than any trading strategy in this cryptocurrencies market. I believe that bitcoin is far better now than stock and commodity market.
That's good for crypto market, the price has recovered and it stayed at $6000 now, very far from the price below $5000 which people think bitcoin could fall further, and good thing it didn't happen and hopefully there will be no more major dump incoming so slowly bitcoin will be back to $8000, a $10,000 is already a great bonus but it could happen as well. |
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If you are into esports, there are still some games that are ongoing, better bet on it now since you might lose the chance to do so.
So you are saying that soon there is a possibility that we cannot bet on esport too? This isn't like sports betting that people gather to play, I guess this is purely done online and its not possible that corona virus will spread in this game. can you please educate me on about my question. Okay, I think you are misunderstood. Not all of the esports events are done online. We have this type of tournaments, LAN and online. Obviously LAN tournaments are those events where these pro players go to a country where the LAN tournament will be held. LOL, Dota2, CSGO, and other esports (from fighting games, such as Tekken and Smash Bros) usually the events held from Majors to Minors are held on LAN. Online is also a thing but these days, events online are usually for qualifiers. Those teams that will win the online qualifiers will be going to the Group stages which is popularly done on LAN. Because of the pandemic, a lot of LAN events are postponed, delayed and cancelled, (most of them are Majors and Minors) that is why I said that they might lose the chance to bet on it and also because the tournaments that are still ongoing are halfway through. Speaking of an online tournament, Dota2 has its WeSave! Charity Play now ongoing, I don't know if people can bet on it since it is just a charity match. That's a very clear explanation, I get your point, I realize that most of the tournaments are done through LAN so that means they are not allowed anymore under a more strict policy of lock down, and we are left with less interesting games to bet on if in case it's still available. |
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Online casinos will be open 24/7, that's its advantage over physical casinos.
It's expected that the number of gamblers will increase, this situation led more adoption from non online gamblers especially in the crypto space.
Though this is positive with the online gambling business, but i could not be happy with this because overall, the world is not a better place to live for now.
The longer the virus can't be contained, the more trouble it will bring to people, we may also see a decrease of number of gamblers as earning money at this moment is hard.
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the trend line shows that $ 9000 is important resistance for now, because if $ 9,000 is passed then $ 12,000 will be easily reached, and even after halving All Time High can be reached, but the market situation is still very high for further correction, so use a good strategy, I hope you're lucky
Maybe I'll only think of this resistance if we survive staying at $6000 strong for now. Bitcoin seems to be unstable after the big run, and I was right that it will not continue as some people think the trend will continue. Bitcoin to recover amidst the panic is good enough, maybe we must be contended with this price while corona virus are still threatening us. When the economy recovers, that's where crypto market would recover also, this time it would be a real movement. |
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If you are into esports, there are still some games that are ongoing, better bet on it now since you might lose the chance to do so.
So you are saying that soon there is a possibility that we cannot bet on esport too? This isn't like sports betting that people gather to play, I guess this is purely done online and its not possible that corona virus will spread in this game. can you please educate me on about my question. |
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In this situation, there is no better altcoins in my opinion. They ended up the same for both BNB and ETH. Just look at the chart on coinmarketcap, they are all having red sign and it's not something you want to see. If you are a fanboy/fangirl on either coins, then you should look at the truth.
The truth is what we believe on these coins and not everyone of us sees the same thing, some would think BNB is better than ETH while some think the opposite. Yes, the market is at dump right now but we also have to remember that ETH and BNB had increase over 20% in in yesterday. Let's not judge both of these good coins in their short term movement only as if you look at their journey so far, both coins are still profitable. |
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I guess we will see now if the market is really holding strong, we are at $6000, a good price to hold due to the recovery, and seems there is no panic anymore. No pump and dump as of now, but let's just observe what would happen next, the global pandemic is still something we can consider as a big threat on what bitcoin will dump again, but maybe the $2000 dump is already big enough and there's no dump incoming, I just hope so.
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Long-term, Bitcoin is a Store of Value.
I would really agree with this and that is the reason why i am holding some of my bitcoins for long term. The basic principle that I have put in mind until now is the law of supply and demand, and I always believe in the long run, the crypto adoption will increase and that would certainly make bitcoin less volatile and the value will increase, I have a big target on my holding, so I am still holding til now. Not gonna panic for short term as a dump and a pump is quite normal for an asset that most of the volume are own by the whales. |
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I can't agree with OP, the adoption rate of crypto is still low, and with this one day big dump, I don't think that is the reason because what OP is saying is that people stay away from paper money as it could transmit virus but these people have other options like online banking.
I think there is something else, bigger than what you think and we are about to find out that soon.
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This is the time to sell and please let us not assume that this pump will continue to reach a better price, it could dump from here as we normally see its the price volatility, be smart at the moment, sell and take the profit if you guys bought during the time bitcoin was heavily dump.
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The bear is gone for crypto now?
Bitcoin today pump pretty hard bringing back the price to over $6000, and likely we will see it trading back $7000 soon with the rate its moving.
Maybe for us investors, this corona virus gives us a time to accumulate at a cheap price and we are all profitable now even at the current price.
When bitcoin dump below at $4600, there was a panic but it seems we are at FOMO right now.
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The panic in crypto is over, looks like we are not going to 3884 usd again, bitcoin had a good pump today and its current trading at $6000 now.
What happened? I am also surprise when I see the price movement like this, it's maybe because the price was oversold and whales are buying it back again.
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Definitely I would go with a gambling game where I can challenge myself and I can grow, that is on skilled based kind of games.
I have been betting on sports for years already, I don't want to think that I am already good at it but I am seeing I have a potential on this in the future.
Every time I play I always stick to my strategy and I am just thankful that I matured with my learning for years of being an sports bettor.
Bet on sports we don't need to have a specific strategy, but at least we know the sport in question. But for other gambling, it will require special skills. I'm happy with what you say, that you want to grow in every bet you make. Everyone who are serious will definitely want to grow in the type of gambling they choose as long as they have a chance to win in the long run, sports betting offers that chance that is not possible with games like dice since there is a house edge that would beat you in the long run. However, as sports bettor, we have to ensure that we can focus on the game that we choose and bet on limited games only as every game requires analyiss and in order to analyze it properly, you need to spend time to analyze it, and therefore less games to analyze the better the outcome is. |
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We are not in trouble, the crypto market is not attached with the centralized system, in fact I believe we are the future as online money is the future and not only that, crypto is decentralized and a good store of value for your money, provided you know how to do it with proper timing.
In every government like China, they can print countless of paper money as they are in control they are centralized, right, but one thing I expect to happen in the future, the economy will be stable again and crypto adoption will continue to grow.
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Bitcoin is not stable, it's so volatile so we can't compare it with a proven asset like gold which is a good store of value.
However, as long as you don't sell your bitcoin and hold it long term, you'll never gonna lose money as history tells it has its bull period which gives the holders a good time to cash out.
Also, if you believe that adoption will increase in the long run, then we should not hesitate to consider it as a store of value as definitely the price will grow, due to strong adoption which would result to less manipulation by the whales.
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The real dip will be in the three-digits area, with two-digits area for those who get lucky.
Most possible scenario is between $250 and $750.
I don't think bitcoin will ever go down to that low, I am not discounting the possibility but that's just too low. Market seems to be stable now at $5,000 and we hit $10,000 this year, imagine that fall, it's 50% fall in just a month, more or less. |
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