When there are liquidations for longs and shorts, the market takes a big swing to screw as many people as possible.
I mean, that's what liquidations do, right? If you get liquidated, you are pretty much forced to buy/sell to return what you loaned; and obviously that can move the market depending on size and/or if it cascades. |
|
|
|
|
Of all the people I'd listen to for bitcoin price-related advice, I'd probably put Peter Schiff close to last. Dude has been calling crashes since like bitcoin was in the hundreds.
|
|
|
|
|
1. Use a reputable hardware wallet (Ledger/Trezor/Coldcard) with reputable software wallets (Wasabi/Electrum/MetaMask)
2. Only keep your backup safe and secure offline
3. Don't get scammed
and you'll be more than secure enough.
|
|
|
|
But if we should face reality, this does not stop new projects to be created, there are almost 10000 cryptocurrencies that are presently existing, new coins are created almost daily or weekly.
Of course they won't stop. The fact that newer (probably even crappier) cryptocurrency projects can be created doesn't mean the old ones that are useless shouldn't die out. |
|
|
|
This is a high liquidity and many traders are very active right now in that’s why the marker is dumping so fast. Not all altcoins are active some are already stagnant with their price and that’s why you see a no action at all aside from dumping.
That's definitely not the reason. High trading activity can work both ways, and huge selloffs can happen regardless if the liquidity is high or low. That altcoins can rise once the market recovers, expect for the altcoins to recover after Bitcoin so this may take a months before it happen again.
I'll bet you that most of the altcoins in this market(outside of Ethereum, Solana, etc) are already toast and is likely to not go back to previous all-time highs. The newer ones that would attract typical retail participants are the ones that will go high, mostly not the old ones. |
|
|
|
|
Think about it — how can you have bitcoin backed by literally anything physical, but still remain decentralized and trustless? Being backed by something physical automatically invites counterparty risk.
|
|
|
|
|
I think bitcoin is going to drop more — but now that Jim Cramer is bearish, I'm now having doubts. I've had so much success counter-trading him lol.
|
|
|
|
I think everyone would love that but the problem is that as soon as bitcoin starts rising back up again, the shitprojects would also start being created or existing ones be pumped and dumped again.
True. Hence why I'd really want bitcoin to drop more. Also, I definitely could be very very wrong but I think BTC's dominance should rise up from here first. This huge drop was mostly caused by liquidation cascades that I don't think we've seen much retail selling yet. |
|
|
|
I've had my Ledger Nano S for approximately 2 years, but after about half a year of use, the screen began to fade, which I find extremely frustrating. Just a few months ago, I decided to get a new OLED screen to replace the faulty one [1], and I contacted Ledger support, who fortunately sent me a brand new Ledger Nano S for free!! Too bad, I am one of those people who experienced this kind of OLED screen issue [2]. I am not just pretty sure if the cause is the quality of their oled screen or how I keep the ledger nano inside its original box. I also have my Trezor Model One which serves as an alternative wallet for any NFT-related asset I own. So far, I haven't discovered any issues with the product after using it for about 7 months. But then, both of which serve their purposes well enough as long as you take of your seed phrases not getting leaked and don't do anything stupid (e.g., storing your seed phrase online, taking picture of it..). [1] https://bitcointalk.org/index.php?topic=5393971.0[2] https://www.reddit.com/r/ledgerwallet/comments/kq6dmq/ledger_nano_s_got_the_dim_screen_problem/Fortunately, it seems like the screen issues are rare issues. We just tend to think that it's a common occurrence because of the complaints from the Ledger subreddit. But in fact the Ledger subreddit is pretty much a de-facto customer support forum hence it's expected for us to see complaints there. |
|
|
|
|
I'd personally prefer that we'd get far worse sort of "market cleansing" from here. Still so much useless fluff in the broader cryptocurrency space that I want those projects to just die out first.
|
|
|
|
|
Taking loans for asset investments you mostly have no control of is kinda dumb.
1. Markets can drop far further than we think it can
2. It can take longer than expected to go back up
3. Especially when talking about crypto outside of bitcoin, you're taking so much risk that it's multiples of magnitudes dumber
If I were to take a loan, it would mostly be for something like a business that I've deeply thought of and strategically planned for already.
|
|
|
|
|
Not sure if buying through $4000 price drops is the best way to position your bids as the price difference is too far apart. As always, I'd say DCA.
|
|
|
|
Pupwede naman, at tingin ko attainable naman, yun nga lang medyo mababa ang chance na mangyari. If ever man nabhindi lang sa bitcoin ang investment, sa tingin ko mahalaga na iconsider kaagad ang take profit (para to sa mga altcoin at NFT na hyped nitong nakaraan). Pero yun nga may matatalo, may mananalo, pero di naman ibig sabihin na pinoy ang talo palagi.
Unfortunate reality is that sobrang taas ng financial illiteracy sa Pilipinas; exactly bakit sobrang uso ang pag uutang via "5-6" at sobrang hot ang pyramid schemes dito sa Pilipinas. So yes, pagdating sa investments in general syempre hindi literal na lahat matatalo, pero sobrang liit lang ng porsyento ng mga tao ang alam talaga nila ung ginagawa nila (hence matatalo). |
|
|
|
There have been a lot of cases whereas the fear levels are higher in a bullish trend, and fear levels are lower in a bearish trend. That's literally one of the worst metrics to base your investment/trading decisions on. |
|
|
|
|
I low-key want bitcoin to crash far down further just so that I can re-experience receiving the magical 0.0375 weekly BTC payments. Idk why it's such a satisfying number!
|
|
|
|
|
Bitcoin and Ethereum are bought and sold highly with leverage, hence significant movements in either direction can cause liquidation cascades hence the more sort of 'violent' movements. And to add to that, liquidation cascades on DeFi loans with ETH and wBTC as collateral.
|
|
|
|
Its hard to catch the the cheap while the market still bleeding and its early to tell that we are generally buying the dip since as we see the market still on downside and many people still not done with their worries about worst situation that might happen. I'd rather want to trade short at the moment rather than biting the risk brought by current events and live with it.
Quick tip: you can DCA-ing (for long term holdings) while at the same time shorting the markets for profit(if you know what you're doing). You don't always need to be 100% long or 100% short. |
|
|
|
People is holding base on the support they see then since the strong support has been broke up for sure many people will get afraid more and maybe we can see more selling pressure. I can't say I will buy at this point right now since $19k just newly reached and this is truly bad because we might experience more downfall because for many people will make this a basis that we might see a long days of bear market season again.
While it's highly likely that we're going lower like I said, don't try timing bottoms — as you don't really need to catch the literal bottom to perform well in the long term in the first place. Just make that you continue to have enough money for bidding. |
|
|
|
|
There's something about the psychology of previous all-time highs and full round numbers($20,000) that I think when broken, people would be tempted to sell. So while I already started DCA-ing, I wouldn't be surprised if go lower. Buckle up.
|
|
|
|
|
Show Posts
