So with how much bitcoin and all the altcoins are down, is it even possible for any trader to make any money? Example let say this. You buy btc at a very low price due to these dips. Now you could either keep btc or buy altcoins with it. Now the market goes down every single day. First off, does anyone know if btc or any altcoins ever have a day where the prices drop every single hour? Or is that impossible?
Anyways, with how much all the coins are dropping, is it even possible for any trader to make money on days or weeks like this? Im thinking its only possible if they make sure they sell it at the right hour and minute etc in order to profit. But of course if they are down almost all day, how is it even possible for anyone to make any money? Sure when the market goes back up in a while, and the price gets higher than they bought it at and now they sell, the profit. However, the same ppl who hold the coins will profit as well.
Because doesn't it seem like there is no skill involved at all it seems? Because if the market is down for a long time, what percentage of traders are even making any money when the market is down? Of course if you got a coin at like 10 cents a long time ago and then it went to 5 dollars... and now because of this.. its now down to say 1 dollar, well you are still up money if you sell it now. But the same ppl who got this coin probably got it at over 3 dollars and lost a huge percentage of its value.
So is it true almost everyone loses money when the market is down? And almost everyone makes money when the market is up? Because if btc goes up, the alts follow. BTC drops, everything follows. Its like there is zero skill at all almost. Such that yes when it goes up, some altcoins might go up higher than others. Also why do certain very good altcoins drop when btc drop if that project is very good etc? Yes i know you need btc to get that coin and vice versa but its like its either everyone wins or everyone loses.
So right now market is down a lot especially for those who bought not that long ago. So where is the skill here? Its basically when to sell and when to buy right? However, when market is down like this, who is damn making any money? Because isn't almost everyone losing money? The only ppl that i could see that likes this huge dip are those that have usd/usdt ready and picking when to buy. Of course they could have waited till btc was 8k and thought great i buy now or buy alts and each of these already lost a lot already.
Who is making any money now when the market is down? The ppl who are selling? Surely not since the price they sell now is much less than before. Also just curious but does this apply to stocks and forex trading as well? I know that well stock market goes up, doesn't almost all the stocks all go up it seems? The same can be said of forex or am i wrong here? I only know forex is money trading with different currencies etc. Because when you look at other things like poker or sportsbetting... someone is winning and someone is losing. Also to anyone that bets sports or knows about sports, you might hear how all the wise guys are losing money. Wise guys are sophisticated sharp bettors that are much smarter than your average joe. That average joe most likely bets very square picks... meaning like obvious public teams etc. However, the thing is the public does win. And when they do that, sportsbook would lose money. But usually they get it back and the average joe loses it back betting very public plays and the sophisticated bettors aka sharps win again. However, i heard of sharps having really bad seasons etc.
So based on that, doesn't it seem like crypto trading is basically everyone wins or everyone loses? Because in sportsbetting, yes the house does win and they house could also have a losing streak. But eventually they win back the average joes money. But if the average joe gets lucky and goes on a huge run whether betting favorites or underdogs or whatnot, its possible for him to win for a long time or lose for a long time. Also let say you have a few players who are sharp sportsbettors and a few average joes. Well if the sharp guys are winning, most likely the average joes are losing. If the sharp guys are losing, average joes are most likely winning. I say this because they usually play opposite plays most of the time. But no matter what, someone has to win. Whether its the sportsbook or the bettor. Also in sportsbetting, there is something called live betting where its like trading. Basically you can bet on either side while the game is going on when odds change always etc. But when you live bet, if one player bets this team while another player bets another team... remember each of these players are betting against the sportsbook, one player will win... the other loses. Thus that is where the skill comes in. So does anyone here feel like the market dictating winning or losing is just stupid? I mean if market is down, who is making any money? Its like ppl say when there is a bull market, everyone thinks they are a genius. Well if its a bull market, the only thing you have to think about is okay i will buy btc but should i exchange it for altcoin or not and which one.
Anyone here have thoughts or opinions on this? I got excited about cryptocurrency and trading and wanted to do it. But now when i look at it, its basically look at the market. There doesn't seem to be any skill in it. Can anyone here correct me with any of my statements especially if i made any especially in sportsbetting? Thanks.
It depends on what strategy you're using to avoid a possible market crash fallout. Some investors can actually turn profits during a bearish market instead of losses. You always need to choose your investments wisely; on the crypto market you should have a trade plan and follow the market closely, since timing is crucial here to turn profits and keep your capital in green.
