Will YFI go down again?

[24Kt]

Since from the start the this farming tokens existed. I never dream to buy them all even they are hyped by many traders. YFI did something great for the past few months as well as YFii. You can buy it right now because many altcoins turn down during bitcoin volatility. But, just a few reminder brother. You must keep an eye with your investment specially they are all volatile.

I speculate that there is a special team behind the YFI trade, such as fast pumping with incredible pump power. most of them use this trick to attract many investors. Try to imagine a token that was still under bitcoin for a few months, shocking the crypto world. So that's my assumption, that there is a special team playing YFI price movements.

I believe also there is some whales behind this project. Because how can they have that price when there is no working platform? So it means, the team or someone backing this project has huge amount of money to manipulate the market. Once they achieve their target profits, I strongly believe that this token will go down hard and there will be no turning back. I'm hoping that those who will buy this token will contemplate first before spending their hard-earned money.

[CuriousGeorge]

I believe also there is some whales behind this project. Because how can they have that price when there is no working platform? So it means, the team or someone backing this project has huge amount of money to manipulate the market. Once they achieve their target profits, I strongly believe that this token will go down hard and there will be no turning back. I'm hoping that those who will buy this token will contemplate first before spending their hard-earned money.

It's about the leverage coin and it has no correlation with the whales. The whales just pump and dump YFI and that will be affecing the price of YFIup and down. The leverage coins will be reacting to the movement of the real coin.
We have been talking about YFIDOWN which was a leverage product from binance.
You must watch the main post again to get the main point

[KnightElite]

I really doubt that I mean they are one of the first DeFi with so many listing all over and for some reason I think they will stay for a very long time Only that dont expect crazy gains like the ones at the start of deFi craze until something new comes along

Nah, if I see a price dump already after the hype then I won't bother to reinvest on it again. It's already a sign that they were dumping and there's no way you could get back what you lost. This is how the new altcoins projects did every now and then I wonder why people still risking their money hoping to gain with it? If you can't follow a project properly and missed the chance to buy during low or sell during pump, I don't think altcoins should be your first choice.

If you look at the chart of the YFI/USDT in Binance, it is currently forming a symmetrical triangle where there are 2 possibilities which are breakout and breakdown. If breakout happens then it is good because it is only indicating that YFI will become bullish again but if it is breakdown in symmetrical triangle then be careful because another dump can happen again. For those who have this, it is really crucial so monitor it and observe what will happen in this current week. If there will be a breakout, I think I will buy 25% of my portfolio because for me it is a good sign where I expect a follow up.

[Lore06]

Now is the time to look at bitcoin and eth and if you are already making a profit there or maybe you have got your capital back then forget about YFI and invest in bitcoin or eth, leave the YFI ship before they sink.

[dragonvslinux]

It could go down further for sure, as it hasn't even broken new lows against Bitcoin's price. It could have also bottomed from finding support at the lows. To provide a technical picture:



Price bounced back recently from oversold conditions (as expected). Whether this is a dead cat bounce or not remains to be seen. Price needs to get above 1.217 in order to stand a chance of rallying further (0.236 retracement as well as breakdown level). If it can hold above the volume point of control (red line) it stands a chance however. CMF remains relatively neutral.

It did correct 88% at least, which is a hopeful sign of correcting enough imo, while still down 70%. It's one I've got my eye on, but not too interested as still too new a project.

[Btra]

YFI has already gone down by its an all-time high of approx. $40,000. Now it is trading at almost half of below the all-time high price. So, you can invest in for a short period of time again until it will touch the previous price again.

[ScamViruS]

YFI has already gone down by its an all-time high of approx. $40,000. Now it is trading at almost half of below the all-time high price. So, you can invest in for a short period of time again until it will touch the previous price again.

This coin has been down a lot from ATH. When this coin came on the market and was able to create a lot of hype in the market, and as a result some players played with this coin and pumped this coin unexpectedly. And what happened after this huge pump is now being seen in the market. It is not right to buy these coins just because they are being dumped.

It seems to me that I should be at a safe distance from these coins now. Because the next step may be worse.

[Silberman]

This is not a good time to buy YFI and hold it. Currently, there are a lot of bad news about Defi trend in general and Defi projects in particular.
As Bitcoin actually grew, it eclipsed Defi's hype, which reduced the transaction volume on Uniswap and had more scam projects than before.
Besides, APY has just been hacked 2 million DAI right in their hot wallet. The security issue of Defi projects is really problematic and investing now is very risky.

Quite honestly the risks of DeFi coins have always been there, what happens is that people ignored those risks because they were happy with the profits that they could get but now that it seems that the DeFi hype has finally died people are not happy that they are being scammed left and right and that they have no way to protect themselves, the truth is that anyone that has experimented the market growth of 2017 knew this was coming and for the most part they left the DeFi market early even if that meant sacrificing some profits just so they could keep their earnings this time around, while all of those that were new to this market and have not experimented those market conditions are still probably holding their coins and are lamenting the fact that they did not sold them earlier.

[Hamphser]

YFI has already gone down by its an all-time high of approx. $40,000. Now it is trading at almost half of below the all-time high price. So, you can invest in for a short period of time again until it will touch the previous price again.

This coin has been down a lot from ATH. When this coin came on the market and was able to create a lot of hype in the market, and as a result some players played with this coin and pumped this coin unexpectedly. And what happened after this huge pump is now being seen in the market. It is not right to buy these coins just because they are being dumped.

It seems to me that I should be at a safe distance from these coins now. Because the next step may be worse.

Not ideal to commit the same mistake for those people who do bought into the peak price.It did really crashed a lot from its ATH and i dont know on what are the basis
of others on why they would tend to buyback into this price yet it  had been seen that majority had been selling out but still its breathing at the moment
and still been traded and still had liquidity.I cant even afford to get a whole YFI but on smaller units then you can trade off but basing of with the
volatility then i would rather prefer bitcoins in most cases.

[AliMan]

This is not a good time to buy YFI and hold it. Currently, there are a lot of bad news about Defi trend in general and Defi projects in particular.
As Bitcoin actually grew, it eclipsed Defi's hype, which reduced the transaction volume on Uniswap and had more scam projects than before.
Besides, APY has just been hacked 2 million DAI right in their hot wallet. The security issue of Defi projects is really problematic and investing now is very risky.

Quite honestly the risks of DeFi coins have always been there, what happens is that people ignored those risks because they were happy with the profits that they could get but now that it seems that the DeFi hype has finally died people are not happy that they are being scammed left and right and that they have no way to protect themselves, the truth is that anyone that has experimented the market growth of 2017 knew this was coming and for the most part they left the DeFi market early even if that meant sacrificing some profits just so they could keep their earnings this time around, while all of those that were new to this market and have not experimented those market conditions are still probably holding their coins and are lamenting the fact that they did not sold them earlier.

Many people chooses to hold their coins rather than wasting for a very cheap value, because of the mindset that it will grow after all myths predictions. As DeFi market influenced the entire market, expectations is really a big factor why fascinated followers remained trusting the system and never leave on their backs. This is a biggest challenge to face for several investing as well as traders who delightfully keeping their strong holds for cryptocurrency.

[uray]

FOMO Defi is still continuing and now YFI is up 22% this week,
of course this is a good moment for YFI holders when they bought at a low price last week, congratulations,
if you want to buy it, wait for a correction, at YFI it is very risky because this token is very volatile.

It is hard to see that the market of these tokens are rising considerably and when you missed the entire boat you tend to think what is making these market rally so much so that the valuation of YFI is higher than bitcoin which is crazy in itself and when i checked the market there are a lot of buyers pouring their money in it. For all the investors reap when you can .

[peter0425]

YFI has already gone down by its an all-time high of approx. $40,000. Now it is trading at almost half of below the all-time high price. So, you can invest in for a short period of time again until it will touch the previous price again.

half value of All time high is good enough basis to decide of investing or selling,but the question is what is the value before the hype happens?because if this is the baseline of the value then investors may take a look first.
because if this coin go down that level again then it is impossible to recover again as this is a proof of this coin being Pump and Dump.

[elisabetheva]

YFI has already gone down by its an all-time high of approx. $40,000. Now it is trading at almost half of below the all-time high price. So, you can invest in for a short period of time again until it will touch the previous price again.

with a very high value, of course it is very risky to invest our funds in tokens that have dropped drastically to below $ 10K, even though we now see that it has risen again and can only reach half of it. We need correct analysis and believe that what we are going to do is the right action because prices may not go up but fall back down.

what we are afraid of is that the funds absorbed into it are quite large and the possibility of loss is also clearly large because we know that this token does not create a breakthrough that can convince investors to be willing to hold it.

[reza7777]

My popular coins can dump especially coins that are still quite new, look at my price comparison when a few months ago it reached $30k and now $20k which means experiencing a dump of $10k, that's a lot of money.
I'm worried that if the Defi trend is completely dead, this coin will also experience a dump in the future.

[puremage111]

I commented on this post a week ago if not mistaken
Hope my comment is took into consideration and congrats if you didn't buy it

Going against YFI when you feel it is too "expensive" is the last thing you would ever wan to do in the Crypto DeFi Market
They are literally implementing tons of insane stuffs and V2 of YFI is releasing soon iirc
Based off the growth rate i am thinking YFI could really flip and break higher high this run

[lkjhg]

most likely it will experience a correction, not a dump, because YFI has increased 20% in 7 days,
this indicates that this coin might end the uptrend and look for strong support again,
if you want to buy make sure to buy it at a lower price.

[turbo_trader0101]

YFI is good but DeFi trend is emerging in different areas. As an example NFT.  So many projects are launching NFT features but only few are as quality as
https://www.kingswap.io/ If we speak about future NFT trend leaders then $KING is the future leader for sure
Please take a look at tell what you think!

[ScamViruS]

YFI has already gone down by its an all-time high of approx. $40,000. Now it is trading at almost half of below the all-time high price. So, you can invest in for a short period of time again until it will touch the previous price again.

~~~

Not ideal to commit the same mistake for those people who do bought into the peak price.It did really crashed a lot from its ATH and i dont know on what are the basis
of others on why they would tend to buyback into this price yet it  had been seen that majority had been selling out but still its breathing at the moment
and still been traded and still had liquidity.I cant even afford to get a whole YFI but on smaller units then you can trade off but basing of with the
volatility then i would rather prefer bitcoins in most cases.

You may know what kind of hype was in the market at the time these coins were made. What their purpose is is not yet clear to everyone. They created a coin, the big exchanges listed their coins and after the listing they were pumped huge and dumped again. So it seems to me that the script of this coin was fixed in advance only they played it like the right time. So I will refrain from buying these coins.

[crzy]

A fair value for YFI should be $5000. That $40,000 price was too high. It wasn't sustainable coz everyone was only fomoing not minding the risks of the project.  I like the project but that not everyone was happy to pay such amount to access their project. The price will go down some more because of the recent spike.

We saw its peak and bottom price in just a short period of time and YFI is pumping again right now so this project becomes more volatile and a place for whales to make money easily, this is not safe for a serious investors and I’m sure most of them are traders waiting for their right moment. YFI will go down if bitcoin dominates the market again, don’t expect too much from a hype project because you might fail on that.

[SquallLeonhart]

I really hope that these type of projects get more common and not just in name sake but more like an idea. YFI became huge and we have seen a billion yfi related names and projects and everyone was making something, yfifinance yfisport yfiinsurance yfinft yfithis and yfi that and everywhere was yfi.

I do not want anything that is another yfithis or that but I want something bigger than yfi like that which creates its own ecosystem, that usually means that economy of these projects ends up being huge and that is what I really admire with these type of projects because they do not need bitcoin or ethereum or anything else, they become huge all by their own and I love them for it. Maybe yfi could drop again or could go up, but at least it created a path that is for sure.