Bitcoin going down

[AYOBA]

Hi what are your thoughts on new coins in binance? Any recommendations? With btc going down and a bit slow I might try something new to invest in with extra cash. Eth was doing great then seems to follow btc trend this week. New coin with a future prospect to flourish would be a great investment?

Thanks 

It seems like it has been a while since you checked the Bitcoin market; if not, you wouldn’t say that the Bitcoin is dumping down a bit. Because with the current price of Bitcoin now, it has proven that the price is going up and the market will continue in that way since, as of 2 months ago, Bitcoin was around $100, but look at the amount that it is reading currently now.

This is the reason why I stated that. It's like it has been a while. When you check on the Bitcoin price, even those that are willing to invest in the Bitcoin now are those that have enough money already. Because not everyone can afford to purchase Bitcoin at the current prices.

[Orpichukwu]

Hi what are your thoughts on new coins in binance? Any recommendations? With btc going down and a bit slow I might try something new to invest in with extra cash. Eth was doing great then seems to follow btc trend this week. New coin with a future prospect to flourish would be a great investment?

Thanks 

I don't recommend or give anyone financial advice because suggesting coins to invest in now seems like telling the person how to use their money; you should make your decision based on your findings.

Recently Binance no longer lists as many coins/tokens as I usually see in their new page, so it will be hard to even see anyone to recommend now. If you are looking for fast profit,why not just pick from the top coins and invest the spare cash? From the time of this post till now, ETH has made some great moves up.

[Kavelj22]

Hi what are your thoughts on new coins in binance? Any recommendations? With btc going down and a bit slow I might try something new to invest in with extra cash. Eth was doing great then seems to follow btc trend this week. New coin with a future prospect to flourish would be a great investment?

Thanks 

with the current price of Bitcoin, it has proven that the price is continuously rising and the market will continue in a ascending path since Bitcoin was less than 1000k just few years ago, but look at the amount that it is circulating currently and how this getting bigger.

I wish you follow the market since you posted this topic few days ago. Bitcoin is still promising to reach all time high again.

[Abdulzuruku01]

Hi what are your thoughts on new coins in binance? Any recommendations? With btc going down and a bit slow I might try something new to invest in with extra cash. Eth was doing great then seems to follow btc trend this week. New coin with a future prospect to flourish would be a great investment?

Thanks  

Recently, Bitcoin touched an all-time high of $122,838,  Bitcoin is dramatic because what is happening is price volatility, which mostly put new investors in fear possibly leading them to sell their investment. But keep in mind that even if Bitcoin price is going down as you claimed because I believe you don't have any updates regarding recent Bitcoin price, but even if that is true, it shouldn't be the reason for you to panic or suggest that anyone to invest in other coins. because no matter how dip Bitcoin price goes, it will still pump beyond everyone's expectations. As a new investor, you need patience and discipline before investing in Bitcoin and avoid fear of missing out.

[liasbaa]

Hi what are your thoughts on new coins in binance? Any recommendations? With btc going down and a bit slow I might try something new to invest in with extra cash. Eth was doing great then seems to follow btc trend this week. New coin with a future prospect to flourish would be a great investment?

Thanks 

I initially bought some of the new coin (a2z) that Binance launched but later it started showing about dumping 24% which was very sad for me but I sold it the next day. In short-term investing, you have to deal with various pressures because you have to constantly monitor market prices and most of the time there is a high chance of losses. Long term Bitcoin investment is the best no matter how you consider it, Bitcoin is a best investment for any person (rich or poor). If it comes to Ethereum investment then its position is second but the possibility of increasing in value like Bitcoin is very less. The recent increase in the value of ETH is as expected and it is expected that this year it may reach $10k.

[Skjadoon]

Hi what are your thoughts on new coins in binance? Any recommendations? With btc going down and a bit slow I might try something new to invest in with extra cash. Eth was doing great then seems to follow btc trend this week. New coin with a future prospect to flourish would be a great investment?

Thanks 

Binance lists fewer new tokens now, so research and consider top coins like ETH instead.

[gunhell16]

I expect that the price of bitcoin will really fall in that situation and now that it is rising again, I also see that it will hit the price of 120 150$-120900$ again and then retrace will happen again.

So we will probably be playing with this sideways movement that bitcoin is making in the market for 2 to 3 weeks from now before we see a real breakout,
its either at resistance or support.

[Odohu]

Hi what are your thoughts on new coins in binance? Any recommendations? With btc going down and a bit slow I might try something new to invest in with extra cash. Eth was doing great then seems to follow btc trend this week. New coin with a future prospect to flourish would be a great investment?

Thanks 

Binance lists fewer new tokens now, so research and consider top coins like ETH instead.

Are you saying that ETH is a better alternative to buy than Bitcoin? From what I have seen in the market,  we have not had an altcoin season where WTH is supposed to dominate the market, every cryptocurrency is still following Bitcoin, so I feel that Bitcoin have better opportunities now than ETH. I know that personal preference is a thing in cryptocurrency especially as some people believe that Bitcoin have become too expensive,  if I want to invest to cash out this bull run, I will go with Bitcoin.

[hyudien]

So we will probably be playing with this sideways movement that bitcoin is making in the market for 2 to 3 weeks from now before we see a real breakout,
its either at resistance or support.

Sideways movement for August seems likely, especially after a continuous upward phase, as Bitcoin needs to level off a bit and give altcoins room to take over the market temporarily. This is quite favorable if Bitcoin's movement remains stable for projects that want to release their tokens in August. However, some altcoins have postponed their token listings due to concerns that the market will decline further.

[bitzizzix]

Hi what are your thoughts on new coins in binance? Any recommendations? With btc going down and a bit slow I might try something new to invest in with extra cash. Eth was doing great then seems to follow btc trend this week. New coin with a future prospect to flourish would be a great investment?

Thanks  

Weak mentality. Bitcoin is still at $110,000, and if the price stays above that, I don't think the drop is anything to worry about, as it's a healthy dip or correction, not a significant drop to worry about that would make you switch to buying. This drop is actually an opportunity and a discount to buy Bitcoin. You should continue buying Bitcoin or increase your purchases, rather than switching to other coins, as the price will inevitably rise again. Some investors, especially large investors, are surely waiting for the right buy that will increase the price of Bitcoin, as I believe Bitcoin is the only good investment compared to others, especially for the long term.

[justdimin]

Are you saying that ETH is a better alternative to buy than Bitcoin? From what I have seen in the market,  we have not had an altcoin season where WTH is supposed to dominate the market, every cryptocurrency is still following Bitcoin, so I feel that Bitcoin have better opportunities now than ETH. I know that personal preference is a thing in cryptocurrency especially as some people believe that Bitcoin have become too expensive,  if I want to invest to cash out this bull run, I will go with Bitcoin.

I would say that is definitely not true. I would say the best return would be bitcoin and not ethereum. Ethereum was awesome in 2021, because the ERC20 chain was used a lot, even when the price went up, we still used it, but that didn't change much.

ERC20 is not used that much and it's not getting that big of a profit neither. So we can't really consider this as a way f making money, ETH is not as big as it used to be. I have seen things change in crypto before, all the time, so if this also changes, then we can be sure about what happens. This could be a bigger deal too, we just need to hope it does better. For the time being, ETH won't be better than bitcoin, but if something changes maybe we could be wrong about it.

[markm]

Thinking of bitcoin as going down is very relative, think rather that some other things happen to be pumping relative to bitcoin.

It is true that fiat currencies in general do from time to time seem to pump relative to bitcoin, but purely from fundamentals we know that fiats are by design intended to lose value over time whereas bitcoin is not.

So long term basically fiats are doomed to forever decline in value.

Thus they are not a good basis or baseline to look at to imagine other things are going up or down.

If you think of ups and downs relative to fiat, anything that is not losing value quite as fast as fiat inevitably and by design and intent loses value will seem as if it is going up, even if really it is just not going down as fast as fiat.

So it actually makes more sense to think of bitcoin as real value and fiat as just more shitcoins that inevitably are doomed but that gamblers do sometimes make some wins with when they pump.

But those pumps are usually followed by dumps, so unless you are into gambling on pump-and-dump schemes it is probably best to avoid fiat as much as possible, subject to the unfortunate circumstance that unfortunately the planet you live on is in a crappy period of history during which fiat is the most-used currency almost everywhere on the planet, and that you might be forced to resort to using some fiat if only to pay taxes and in many jurisdictions also debts (since many jurisdictions laws make fiat something people owed debts are required to accept to settle debts).

Thus other than whatever fiat you are forced to resort to by that unfortunate planet-of-residence problem long term you are probably much better off thinking in bitcoin, and/or other cryptos that, like bitcoin, are not designed and intended deliberately to lose value over time.


-MarkM-

[LOVER BOY 422]

I don't think if Bitcoin will ever gone down ,many has invited in it,many has also bought it for future use

But sometimes I wonder if at a stage Bitcoin went down ,many will not survive the shock

[woez]

Hi what are your thoughts on new coins in binance? Any recommendations? With btc going down and a bit slow I might try something new to invest in with extra cash. Eth was doing great then seems to follow btc trend this week. New coin with a future prospect to flourish would be a great investment?

Thanks  

It's best to set a slightly cautious approach and take a small portion of your total portfolio, regardless of your intentions. The specific answer to your thoughts on new coins on Binance is: Don't immediately become FOMO when they're newly listed and receive a strong surge. In fact, many new projects currently appear promising at first, but don't necessarily have real utility or resilience in a bear market.

@markm point seems very relevant and understandable. He describes how we view "Bitcoin going down," and of course, it depends on our perspective.

From the perspective of the current decline, there is certainly a correction after the rise, but in the long term and fundamentally, Bitcoin is simply catching its breath after a major rally.