Bitcoin is dumping!! Is this going to a repeat of 2017? Remember what happened in March when covid hit? The second wave is here and btc has been pumping despite that. What do you guys think? $100k still happening this year?
This time this won't be so easy. We all have seen how an influential person can change the whole scenario. Elon mask changed his bio to bitcoin then bitcoin price started pumping. People are too positive about bitcoin this year and the price tested 29k levels many times. I can see a long bull run in the bitcoin market and massive investment coming through institutions. |
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👉No stop loss: This happened to me once. I lost a chunk of my capital. Stop loss was created for a purpose use it for every one of your trade.
👉Cut winners fast: Don't be greedy!! Collect your profits.
👉Let losing trades run: This would kill you, if a trader is going bad I think it's better to close the position at your stop limit rather than letting it run in hopes it may come back to our favor.
I think there is a better way to deal with a negative trade. If my trade goes against me then I can rebuy the same amount of token if the price dump 10 to 15% from my buying price. If the price still goes down then I can do one more buy but this time the amounts will be double. This dollar cost average will lower my entry points and if that project is good it will surely bull after sometimes. I have used these methods successfully my your chance of losing trade will be zero. |
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Hi Everyone, I have a dilemma since I am holding an wholesome portion of bitcoin. With all the speculation going on in the market I don't know whether to sell or hold on my bitcoin. I've been wanting for more than a week to see if bitcoin's price improves, but it is only falling more and more.
I've gone through dozens of analysts' blogs, websites, market cap sites, price prediction sites, and all the important bitcoin market sites to find the right answer. But I am still unsure.
So, can anyone please tell me if I should dump my bitcoins with some losses (selling at lesser price than the buying price), or should I hold on to it?
There is also another reason. A promising stock just opened up. So should I sell my bitcoins and but the new stock that I'm interested in?
Viketo Sumi (Armani123)
That's actually one of the common questions that we all have especially when we're all in the midst of being undecided where all we could do is just rely on other's opinions. As for me, things will depend on your objective. If you invested to gain a profit even just for a short period of time then it's already good to sell but if you have invested for a long-term hold then risking would be the bravest thing that you can do. Upon investing, you should know what your goal is so you won't have to rely on the decision of others. Some people watch their portfolio grow over time when btc price climb and these people still watching when btc price again goes down. In 2017 many people didn't book profits when btc hit 20k and they want more. These same people sell their BTC under 10k when they lose faith by seeing a downtrend. BTC market is very volatile so it will be wise to book some profits when you still can. |
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Things are going back to March 13, 2020, the second day of the 312 crash. I personally watched Bitcoin fall to 3,800 U.S. dollars, which is a few hundred U.S. dollars per second. I was shocked, because in my trading history , I’ve never seen the btc so low before, not to mention that there are only two months left before the 512 reduction
The best idea is the dollar-cost average. I personally think that BTC has no upper limits and I could go as high as whales and large investors want it to be. So the early you take entry the better it will be. So if the market goes down from your buying price then you could buy more and more btc and increase your portfolio. After 6 months you will see your average buying price is much much lower than before. |
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Might be connected to forex but they are all just the same because patterns can really be seen when you do make out chartings thats why having some knowledge about TA's when it comes to reversals or possible trend change then you do have at least the idea. Here's what it is called: Double Top
Double Bottom
Head and Shoulders
Inverse Head and Shoulders
Rising Wedge
Falling WedgeSourceTake note and remember is that Cryptocurrency market can fuck up these TA's that you would make.So always take precaution towards your position. I do not think this price action and candlesticks pattern work all the time. When the BTC market fluctuates too much market dump is inevitable no matter what the chart patterns are. Tracking the whale movements and on-chain analysis may be us a clear idea of what could happen next. I agree with support and resistance level and these work all the time in crypto. |
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Bitcoin is dumping!! Is this going to a repeat of 2017? Remember what happened in March when covid hit? The second wave is here and btc has been pumping despite that. What do you guys think? $100k still happening this year?
I am expecting a huge dump before the Chinese new year in 12 FEB. The Crypto market could crash anytime before that. But these will be healthy corrections and ALT will be in a very good position. All those money will go to alts. I do not think this time market will dump so much that it was in 2018. Maybe 20k is a very possible support zone for BTC. |
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Yup it may be possible but many of
want's to be millioner in a day.
Only less than 10% of the people really makes money by trading.
Every field has it's competition but in a greed, people join crypto to make their portfolio 10x.
But in most of cases they loss their hard earned money.
So,
Only we ourselves have to decide that,
where we want to be..
In 10% people or in 90% people
Not only greed the lack of knowledge and the idea of the market is also a reason behind it. Many people make a good entry but they do not have a great exit plan. In most cases, we saw people just watch their trade-in profit and they do not book profits. Most people do not have a good strategy too. They just saw some news and buy that token without thinking what will be the outcome of it. |
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I don't think UNI will surpass BNB at the moment, but UNI has pretty good potential to compete with BNB.
If in the future the uniswap exchange is widely used and its reputation is getting better, it may surpass BNB.
That is, if Uniswap will sustain the interest of traders. This early, one major problem that traders is facing with is the high trading fees. This is the reason why I am hearing other dex platforms to be better over Uni. Now, if UNI will not resolve their fee problems, in time, traders will go to other DEXs with competitive fees. And comparing the number of users in centralized exchanges like BNB, I think it is hard to beat centralized ones because there are a lot of centralized coins to cater with, that you can't find in DEX platforms. After the massive success of uniswap, many DEX emerges and offers different solutions. Like 1inch is a good decentralized aggregator, even metamask is providing a similar service like them with swapping protocol. But the thing is as long as eth fees problem has not been solved it will not be good for any of these exchanges. Recently I got a token from airdrop and I tried to exchange it through uniswap but it askes for over 100$ gas fees. As long as uniswap keeps its reputation high UNI will show good price action. |
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I got an update from AME telegram channel with good news when team wanna buy back with lower price of AME on exchange market listed MXC, Bithumb and on BKEX, keep believe with their promise will buy back? just open your mind and see what happen with AME tomorrow or next week will raise higher price above IEO because price today below ieo only $0.01, I think after listing on MXC price of AME looks very dump.
Is buyback the solution here? Enough of all this token buyback already, what Amepay token needs is better developments and connections with strong projects, as you can see dump still happens on MXC too MXC arranged a competition to get investors to the project but we saw a heavy price dump after that. Only a partnership with a good project and platform could save this project. I have talked about their marketing manager before and he said they have well-planned strategy to keep the price above their pre-sale price. But what we are seeing is price didn't hit that target in other exchanges. Very bad from AME project. |
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I have a plan but due to money constraints I am unable to start it. My plan was simple start four blogs, hire four writers get Google Adsense approved and within six month you will be making more than $200 a month.
I have writers and I do have Google Adsense approval. The only problem is funds to carry out for the next six months to pay the writers, hosting service and for the purchase of domain name.
If you want you can try my idea but you need to know the niche for your blogs.
So you will make money by spending money. If you get 200$ revenue from google Adsense then how much you will pay to your writers. I do not think any writer will work for you with 50$ per month if you want to hire a really professional one. If you have 1000$ then you can easily be made 200$ per month by trading. If you are not very good use mirror trading features and follow top traders. |
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Understanding what you're investing in also makes you not care about fake news and other people's opinions. You know what you know and that's important.
New traders mostly do mistakes in these parts. They heard someone saying a price prediction of a token after few days they go to the exchange and buy that token without judging it. A trader should always stick to his plan and always books his profits. Many times price bounce back just from above my buying target and this happen often. In these case, if I let my emotions control that trade then I am already in the losing side. |
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- Take Profits Out Often, Don't be Greedy. (Put Stop loss in Profits to book it with steps.)
- Accept Stop Losses. (-7% is better then -30%)
I never use stop loss and I think there is a better option to deal with a negative trade. A good trader always keeps some funds in reserve and use it if one of his trade goes against him. If the market falls below my entry points then I can lower my average buy by buying the dip again. I think this strategy is better than using stop lose.
Not Loosing Money is more Important than Making Profits.
This is one key strategy that could increase a trader's winning rate. A trader can make money not only by winning but also eliminate all of those losing trade. |
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Thanks for the list and from this list metamask looks promising to me. I want to add two more upcoming airdrops which is not confirmed but there could be. Keep an eye on opensea and Openocean. NFT can be very popular in 2021 so these could be some good projects too that can give airdrops to their community. |
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If those BOT didn't work for you, then what's specific feature you want to see on BOT system and maybe, the developer can work for that if you share it to them. If you want to create BOT in trading then its fine to use 3rd party apps, since some are still free just be sure that you know what you are doing.
I don't know how much is the cost for creating your own BOT and how much time do you need for this one, but the good thing here is that, if you fail you still have option to use the existing BOT in the market.
It would be better to have a bot that can be reprogrammed or edited as its users wanted. Like I want a track a certain project to take a dip entry. So I want to place a bot that will track that token price and if it goes down to 15% or 20% then that bot will make a market order at that price and at the same time it will place a sell order of 5% or 10% above that price. It was an example and maybe a bot that can do this will be good for those who can not track the market 24/7. |
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Moving average and Moving average convergence divergence has helped my trade in the foreign exchange market. Although I don't trade indicators in isolation I combine them with candle sticks and chat patterns. The structure of the market along side price action determine the market trend which could be confusing at some point. But with a proper understanding of indicators especially moving average and MACD one can predrict the future trend of the market and place his trade based on such technical analysis.
Indicators also can be used to determine a best position to take profit and apply stop loss based on the chat after proper technical analysis has been carried out
Indicators can not predict the future they just tell you about the current market situation. It's up to you how you will process and use that data to take your entry. Also rely on just an indicator blindly is not a very good idea because every trader has their own strategy and indicators. So when your indicators saying to take long someone else's indicators may be indicated a possible short entry. |
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Do you mind sharing the link?
Did they also input the number of voters?
Because we can't just rely on that.
Most of the crypto users are using social media so this really doesn't answer for the whole population.
It might have a positive impact but not everyone is following the same trend.
I agree with this, most surveys are unreliable. As for the issue at hand, I think they are kind of money. You can buy some goods and services with Bitcoin and other coins but nowadays are more of an asset. I AGREE. As long as you can use it to pay or buy goods and services you can call it money. Either you call it god's money like the precious stones and metals, the revolutionary one which is the cryptocurrency and the centralized fiat or CBDC. Actually, you need to understand what money actually is. Money is something that is exchangeable, countable and that can store value. Bitcoin meets all of these requirements so it is money. Right now we can not pay for goods with bitcoin because our society is not fully aware of its and many people didn't even hear what crypto is. First, we need to do social awareness about crypto. |
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Though the developer stopped maintaining it, you can still use it as far as I know. Test out Gekko, it's an open-source trading bot that's been recommended a lot throughout the years: https://gekko.wizb.it/^Not sure if you know enough Javascript to be able to use it to it's full potential, but yea. I know basic python but not so familiar with Javascript. But that's for the recommendation I will take a look if I can use it some how. Are you sure to use a bot as a trading tool for you. what not to do manual trading and learn to understand technical fundamental analysis better. I don't know much about trading bots, but trading bots come with risks of course. In order for a trading bot to follow your trading strategy, of course you have to build it yourself from scratch.
Actually, I am very busy with some other activities so it's not possible for me to be in front of my screen most of the time. I do manual trade but it's time-consuming because I am a scalper. It would be useful for me to make a trade by algorithms. |
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ADA is one of the largest crypto projects in CMC and it has many inbound developments plan in the future. By the end of 2021, its price could hit its all-time high as you have drawn in your charts but 10$ is too much expectation from a project with a circulation supply of 31.11B token. With its 3rd generation blockchain and military grade programming language which makes its demanding in many sectors could attract institutional investors which could flow massive investments to the project. So it can break its ATH in 2021. |
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I don't think altcoins will ever replace bitcoin. Many alcoins are chasing, but cannot replace bitcoin.
Bitcoin already been recognized by most people all over the world, those who understand crypto knows Bitcoin, but not all are aware or interested with the whole industry,. This because many still think that bitcoin is just a bubble. They think BTC is not suitable as a currency nor reliable investments. But institutions only care about profits and they are seeing a lot of its in BTC. That makes BTC more demandable right now and many companies like grayscale are filling their bags of bitcoin as a reserve currency.
Alts are still far from Bitcoin, replacing the king still far from any reality. Unless Bitcoin itself do things that will make the whole
ecosystem to suffer, that's the perfect time replacing it.
Actually, when someone wants to buy any alts they first buy btc and then when they convert their btc to alts. And when they want to cash out from alts they do the opposite. This happens in most cases that's why BTC dominance always stays high and it has so much influence over the whole crypto market. |
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I'm sure everybody have checked and saw the big drop -18.8% in 24 hours to be exact and keeps going down, we don't know if it will go further and so are the other top coins in the market, are you in panic, nervous that the market is bleeding like this, or do you accept this as part of the market movement, what kind of trader are you
I think it's normal to panic if you are not a very experienced trader. In this situation, a part of me wants to sell to avoid further losses but my mind doesn't let me. Becasue I have my own plan for these types of scenarios and I know what to do next. I always keep some reserve funds and sometimes it's more than double from my active trade. Most of the traders invest their full funds which is the biggest mistake. Because of this they never got a chance to rebuy in the dip to lower their buying price. A trader's motto should be " Don't be greedy and have patience". |
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