I was trying to show that there's no point in asking 24 hour price questions here. Anything people will tell you is nonsense coz they don't know. Either do your own research or don't bother with price movements within 24 hour periods because you will definitely lose money
Spot on. It's interesting to see how people constantly force themselves to figure out what the market will be doing today or in the next few days, while most of them repeatedly state that they are in for the long term.
Day trading for most people has always been similar to gambling with how there isn't much you can rely on. Noobies should stick with dollar cost averaging while the market keeps going down.
Just like how this market can't always go up endlessly, it won't keep going down endlessly. By dollar cost averaging every other week or once a month you can pretty accurately buy the bottom or very close to it.
These people make a living off doing predictions. They get an audience, create a youtube channel, start racking up views and ad revenue, then start giving seminars, like Tone Vays. Of course then eventually get some thing really wrong, like his prediction which missed by $10000+ the top, so anyone that listened to him sold too early and a lost of potential gains there.
I believe we are starting to get analysts go overly pessimistic with these $1k predictions, and this may be the beginning of the end of the bear market. This is how markets bottom, analysts make overly pessimistic predictions which never happen. There's always a margin of distance between actual bottom and these predictions. Maybe $5k was it after all.
Also I would like to see miners dealing with sub $5k prices for a long time. I doubt they will let it happen. So if we go deeper it will be a flash crash, a fast dip that you can't time most of the time, so not worth even losing sleep over it.