I never borrowed to trade btw, because that's not healthy, imo. I prefer to be a less greedy short time hodler. I joined several telegram groups and paid attention to social media that discussed crypto (especially Twitter). although some people think that it's useless, I think I'm good enough to use it. I only buy coins that are dipping and are expected to rise again in the short term, although the profit is not much, the profit is still a profit, and I'm happy about that |
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The bull run hasn't yet started. Who want to quit now? Obviously those idiots who believe that Bitcoin is some magic potion which will make them millionaire overnight will be disappointed with the correction. And they will sell their coins at dips. IMO, this is actually good for Bitcoin. If coins remain at the hands of these people, it will be like a ticking timebomb. You never know when these people will dump their coins. Now these coins have moved from noobs to more experienced people and that is good for the overall well being of Bitcoin.
Most beginners think that they will make a quick profit from bitcoin due to its significant bullishness, but they are also unable to hold or understand the correction, so instead of trying to find a solution, they will sell it right away for fear of accepting bigger losses on their portfolio |
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What exactly do you mean by "backed"? If we look from your message, I think your question is more or less why altcoin took a big hit when Bitcoin dump. That was answered by some people above.
In crypto, people usually use the "backed" term to indicate that the token/coin has other assets to guarantee its value. There are some altcoins backed by BTC such as WBTC (or at least they claim to be), but not all of them do this.
Yeah, I guess I'm misunderstood what "backed" means. Answering the question from the OP, I think it's because bitcoin is the fundamentals of crypto as a whole, so where there is a change that occurs in bitcoin, other cryptos will follow it (although this doesn't apply to all existing cryptos, but most and more 80%). |
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See it as an opportunity to buy more and hold more bitcoins than if you had bought it when it's still high. We can't really blame Elon for selling his coins for whatever reason he wants to because before being a visionary, he was a regular person just like us. And admittedly regular me would also sell my bitcoins for fiat just so I can spend it on something that I am really passionate about. Let this selling not be something that would make us forget about what Elon is all about, which is primarily technological advancement and helping us become a space-faring species.
It doesn't matter Elon will buy more or sell them. but he also had to know where the position he was in right now. what I mean is, he is right now in the center of attention of the crypto community, I'm sure there will be consequences if he does anything significantly, imo |
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Bitcoins is the oldest cryptocurrency and one of the highest valued currency's in the world. Has a large price volatility making it too unpredictable to be used as a currency. Doing analysis to trade in a trading cause this digital currency is not consistently in a high value. Sometimes may fail to trade cause their's a sudden down of an a price, but it is a good luck when the price value is high. Being trader we must smart and confidence to trade without any doubt.
Yes it is true that Bitcoin was volatile dude, but for other it is a negative for them. But being here in this type of business industry I am grateful for the volatility where Bitcoin has together with some other cryptocurrency as well. Because with this a lot of the community got earned thru this methods. Though for now Bitcoin price value was actually down huge in the market but this is a great advantage chance to others and for others is doom. Yes, the fact is that many day traders have become rich and successful from this high market volatility. but as we know, to be able to get profit from a market with high fluctuation is quite difficult if done by a beginner, so it doesn't matter if you want to try and learn while there is still time. |
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I don't think it's wise to try to fake kyc. besides that, it is okay to do KYC as long as the platform you use to participate in IDO is a verified platform, or at least it has a good track record with all security and also their KYC structure.
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One of the most common mistakes people make when trading is giving up when you have a loss.
and this often happens among beginners if they experience a loss, usually their emotional state will be greatly affected.
don't give up because everything starts from failure that will make you smarter and more mastered, and learn not to involve emotions, such as fear or FOMO and always give plan B, choosing a trusted trading platform and so on that you must master as a condition after failure .
Yeah man, FOMO always spoils the end result in my opinion. for in that state, normal and calculative thinking does not work properly. I prefer to trade safely (not too greedy is better), if you already have enough profit, then don't expect too much |
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We probably don't know what Ellon really wants to do at this point. but he is a clever person who can see opportunities and can hypnotize many people in the crypto world, whatever his words seem to be a direction for crypto enthusiasts, we will understand after something happens, and it seems he is not an easy person to read
IMO, Elon's influence is on the wane. The next time he attempts some manipulation like this, the results won't be in his favor. This time it worked, because cryptocurrency users were not expecting him to suddenly come against BTC and promote DOGE. Now coming to his real intention, it is difficult to say exactly what he want. Some are arguing that he want to dish out his own cryptocurrency. Others are saying that he want to pump Dogecoin and in the long term want that shitcoin to topple Bitcoin from the position as no.1 cryptocurrency. The fact is that Elon has hurt a lot of the mentality of traders and also young investors out there, see where he is able to easily turn things around like this. Well, if he can give you the greens, then he can pick them up anytime. but I believe what you say, that in the future, if Elon does something, it won't be the same again |
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I can name even two differences: Musk isn't in the prison and he didn't launch any crypto.
Yes, but even so both have almost the same effect on the community. The point is, all of you who want to invest, still do DYOR and you have to know that investing is definitely risky. regardless of whether Musk or McAfee are the same |
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Just try to avoid buying the tops and maybe find coins with fundamentals and lots of following and stick with them Also be watching the top 10 coins closely and maybe you will find what you want but truth is every investment is risky Just know what you can afford to lose
If you are still a beginner and don't understand investment fundamentals, try it first. it is never too late and there is still plenty of time to make a profit, don't be too hasty and want to get rich quick, because this is not the place for that. Start with easy investments, like the top 10, because they have a fairly strong value |
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In these massive selloffs do you guys think people sell at major losses?
Most provably majority yes since many cannot take the risk on losing more while the market is crashing but therr are other traders who execute their cut loss so that they can buy again on its cheapest rate and guess many are now earning since the price has pump up and maybe we can see more. So its a lesson need to learn by newbie traders since if they sell without doing anythinh tk retrieve their losses then they totally lose their initial capital. Yes, it can't be expected, because they don't have strong fundamentals. when the market crashes, there will be panic, instead of looking for a way out, they will immediately panic and sell it to minimize their losses, it has happened very often and is even normal among beginners |
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It’s really hard to attract people of old generations like your parents because they will stick to what they already know and are used to. Also not all people knows about crypto already. If you are going to tell them to invest in crypto, you should consider to teach them first or introduce cryptocurrency to them. After that you can persuade them little by little.
What's more, crypto is very volatile, and I'm sure most of the older generation doesn't quite like assets or investments with high fluctuations, because most of them tend to play safer even though the profit will be less. |
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If you are referring to the signal viewing technique for a particular group, I think you should learn that first. Many people have tried this method, but most of them are quite afraid and don't know when to sell and buy it, instead of getting a profit, they don't even get anything. make sure you have a strong foundation before doing any trading technique
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I believe that all trends in crypto will follow the movement of bitcoin, including NFT or DeFi. So will the June market remain stable? let's see the movement of bitcoin at the weekend. if bitcoin is able to maintain its price at a point where it can still be said to be bullish, then crypto will be stable and of course trends like NFT and DeFi will continue, imo.
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Why all crypto are dropping these days? Will crypto pump again? Or that’s the end of the bull market of crypto ?
Every drop is normal this is crypto and every coin will have a pump and a dump status, i always see question like this everytime when bitcoin price fall, but if the bitcoin rise they asked "is the bull market backed" will I think those people who ask or making question like this is maybe has no patience and if they have patience maybe it is small. If you ask there is a market cycle, it will happen. but regarding the bull market where all crypto is going up simultaneously as it has in the last few months, I'm not sure it will last long enough. There were many rumors circulating this morning, such as Elon selling his bitcoin and several other rumors that made the overall crypto price experience a pretty drastic drop. |
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We can see that the experience is indeed very expensive, but here I see that progressing without preparation is very bad and risky, and chasing losses is something that should not be done in the future. good for you because you have found a good patern in the future bro, I hope you can be successful in the future
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Even if it's just an assumption, it still sounds stupid. Doge still sounds like a pump and dump coin in my opinion, which is controlled by certain wallets and is also heavily influenced by someone's tweets. I don't think the top Frenchise companies are that stupid taking steps for their company
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It's clear that Elon made the doge pump. In fact, lots of people didn't know Dogecoin before Elon made the tweets, lol. besides that, this is also quite a high risk in my opinion, because Dogecoin doesn't have a clear use case, but has a quite high price.
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It is easy to say these things than practice them. It is not everybody that has the emotion ability to see there investment going down in value then do nothing about it, most people would want to cut their losses. That's why I tell people to always take profit and move on before the market turn on them.
Very true. the purpose of investing is to get profit, sometimes people will wait and serve their greed, and of course that is very bad, especially in investing in crypto with very high fluctuations. selling is not a wrong thing to get a profit, so prioritize profit first |
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