If the price drop buying opportunity comes the question is how long is your patience to hold because there is no way to know how long price drop or would it become stable or rise up high, no one can predict and control bitcoin price, So if you have a plan for buying you need to get ready and prepare your big patience when the price continue to drop after you buy.
it is true that no one knows to what extent the decline in the price of Bitcoin will occur but in the last few days the continuous decline in the market has stopped, now the price tends to be stable, which is now the price of Bitcoin is back at the 30k point which previously had fallen at 26k. . (...) This is one of the best examples that not all cheap is worth buying or the "buying the dip" strategy will always work because you will not know until when that dip will be, it's like you are catching falling knives, but there are some people who are making a lot of money using that method or some are the opposite, they are starting to buy once the market starting to pullback or recover. |
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I think that's pretty much obvious not just bitcoin but the price of everything comes from supply and demand in some markets,
(.....)
This is always possible, supply and demand and that is what we expect of Bitcoin right now as we all know there will be only limited Bitcoin that will circulate in the future. But you should also consider some market manipulation in the market right now, especially in Bitcoin which still has still low market cap compared to other assets. So there can be some group of people/entities that can manipulate somehow the price of Bitcoin by just a small percentage and make money through it. |
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(.....)
When you bought Bitcoin for $11,000 initially, you are currently in a profitable position. What is happening now is an answer that the price of coins in the market can change at any time. But keep in mind that Bitcoin is a very good asset and there is no need to doubt the current state of its price. There will definitely be more improvements and it really depends on supply and demand. Yeah, OP's target is $100,000 but OP is still far on it, still needs 50%. I am not sure for OP if even Bitcoin will reach $100,000 is he/she will take profits or sell their Bitcoin that bought at $11,000? I don't think so. OP must relax and calm down, avoid keep watching the price of Bitcoin from time to time if they are for the long term as $100,000 is a very huge target. |
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But here I'm not talking about altcoins (or alttokens) that grow based on hype, looking at the fact in the last 5 years maybe 90% of them have failed to recover.
(....)
OP must make a decision here, I am afraid that OP invested in some altcoins that started during this season or pure hype and lost their value in just a short period of time. OP can convert their altcoins to some high market cap altcoins or even in Bitcoin because if the market will recover I believe some altcoins will not or the percentage is small compared to other altcoins/Bitcoin. I realized this last bull run and a bear market. |
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This modus is already aged, this kind of modus is always popping when the cryptocurrency is at its peak, especially on a bull run.
I remember before when bull season around 2017-2018, on the Ethereum network, a lot of people shared private keys and a wallet with a lot of erc20 tokens, but you need gas to send it out and that's their way to steal peoples' money.
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For me, during my teenager days. I have already been introduced to Bitcoin, I'm just happy because, in my group of friends, I was the first that discover Bitcoin, I'm glad about that and some of my friends have become curious and I started to share with them what is Bitcoin and how it works.
I agree that age doesn't matter when people want to know about Bitcoin.
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Since you brought up Luna I thought it was Luna related but you just repeated what everyone else has said a million times. A better warning would have been to avoid centralized altcoins with no purpose such as Luna that try to fool people into thinking that they are useful, stable, offer this and that utility, etc. while they remain useless and their price can dump significantly simply because they have no value.
What happened to Luna is also wrong timing, the tragedy happened during the bloody market, so for sure a lot of people were affected and most of them are "double dead" because sure even those other people who have other baskets that are non Luna related investments are also affected somehow. Just like me, I thought I was safe during the dump because before I converted to stablecoin, but I converted on the wrong stablecoin, which is UST. |
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The price of Avax is heading so low that devs won't need to use the testnet as regular tokens will be practically free.
Using testnet is still one of the best options even how cheap AVAX is, there are a lot of things to consider especially when you are developing a project, developers know about it, but it's not only about the fee at all if you are using testnet. Faucets on testnets are very useful for developers even non-Avalanche networks. |
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So for me, the recent dump on Bitcoin is nothing to worry about because it's just not Bitcoin or the cryptocurrency market, it's most of the market right now around the world.
That's why I am still calm. What I am also curious is which of them is the ones who start to dump then the other follows, it will be also a good signal but it seems they correlate and they move together at almost the same time.
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I think Luna Classic will become useless for now. As we all know LUNA is connected always in UST before.
I think the Luna Classic will be forgotten and abandoned and the new LUNA will be the new one and main focus, they will fix all the problems that happened on the old LUNA and improve it.
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Yeah, MysteryWave is a good telegram channel, as I remember, I was there before. It's just sad they are now not active anymore. (....)
So, is there any EW trader willing to share his count via such telegram channel?
You can count me in for this. I also believe there are a lot of traders here especially using the Elliot Wave method. Just make sure there will be some moderator to the channel to avoid spam or scams. I think it's better to drop the channel and it is open for everyone who wants to join. |
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It's also good to zoom out your chart when identifying the sideways. It's more effective if you use a higher timeframe to identify the market structure.
The current situation with Bitcoin for me is really risky after Bitcoin broke below $30,000. Look how it will always dump when it is trying to climb above back to $30,000.
So for me, the current support now is $20,000. Sideways is between $20,000 and $30,000.
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The only bad or negative thing for me here is the centralization.
With a company like Meta, the centralization will be the problem and the privacy. As you recall before, there was an issue about data privacy with Facebook (Now Meta).
So if ever they will start become popular and lot of people will use their products especially NFT/Metaverse related, I am afraid of that issue for them.
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>95% tokens die, those projects who keep building in bears are the ones who give huge returns when bulls arrive. Keep fiat so you can live off it while bears last and potentially take advantage in meltdowns.
Exactly! Besides fiat, if they choose to stay in crypto, there are lot of cryptocurrencies that are stable, alternative of fiat is stablecoins and you can use that stablecoins to stake or deposit somewhere and earn interest. Another lesson I learned before is always looking at the other side, don't hope it will always go up only. Not all cheap are worth buying. And avoid altcoins that got the low market, because you cannot guarantee a huge ROI. For me, I rather hold Bitcoin and Ethereum even I will get few ROI in the future as long as I am safe. |
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I was told when the candle stick hits the lower bottom of the boliengor bands, and is under 30RSI it's going to go up, but how do i find one of these before it happens?
(.....)
This is an example of a strategy or method, yes you can use it but you should be aware it will work every time or accurately. Just think that you are not the only trader who is using that method, what if someone is already ahead of you and knows the next move? Just always have stop loss and proper risk management. |
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Seems difficult, but I believe if you are into NFT you will be able to get early access or early notice from some projects.
Try also using multiple social media, because there you will be able to get connections for some projects that are coming. Another thing is participating in multiple chains, not only on Ethereum, but try also Solana network, Avalanche, etc.
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I think what OP wants to say is his/her portfolio in investment is more exposure on Bitcoin or in short, he/she only owns Bitcoin, no other assets like altcoins or stocks, etc.
Which for me also a good choice, but the problem only here if OP can't afford to lose it because we all know how Bitcoin volatile, especially before lost more than 80% of it's value before.
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Never in BTC's history has it had a monthly close below the 50SMA, right now, it's at $20,600, back in 2018, we did not even touch it, the 50MA was 5-6% lower, and thus I expect a similar or better scnerio to unfold this cycle.
(...)
This will be our hopium now, I am also rooting for it. This is one of the best technical analysis I saw so far for these recent dumps. Sometimes it's good also to look to another side especially on the bearish side, for no bias. It looks like the main support level for this cycle is the previous all-time-high last bull run 2017-2018, so it's on around $20,000. |
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There are a lot of people who don't want Bitcoin as legal tender especially when they want to use it in their daily lives, there are a lot of things to consider especially the transaction fees if you, but there is already a solution for it, like the lightning network.
For me, we will reach that part in the future, we are still early these days. Bitcoin as legal tender is superb.
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Very difficult to choose because most stablecoins these days got issues, especially the highest market cap stablecoin which is USDT.
But the highest I have is in USDC. I also believe that USDT is good because it has the highest market cap and the first stablecoin that exists and is still the number 1. After what happened to UST, everything changed on stablecoins, some are already affected.
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