I remember the time when people said 30% pullbacks during a bull run is normal for crypto. I wonder what would happen if a 30% pullback does happen at current prices. It would mean BTC goes down over $15,000 and I think people would freak out.
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A lot of people will pull out their investments and a lot will buy more, but in the real sense, BTC is way too stable than having a 30% pullback. That might not happen during our existence
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I think anything is possible. I believe a 30% pullback can happen. It is always possible for another black swan event like in March for the pandemic where everything will fall. The federal reserve also wants to check if banks can withstand a 55% drop in equity prices. I doubt we will prices like 10k or 15k, but prices like 35k or 40k is definitely possible.
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Wow, but surely if that happens some people will lost by selling out with the fear of loosing everything. And some people will definitely use that as an opportunity to buy more
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I would love if that were true but I guess stable prices and crypto doesn't go hand in hand . I always think there is a risk of falling down the cliff or potential to raise 100x .
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I always think that due to the trust people have in BTC, and the burnt BTC that cant be sold, I was thinking that there is an extent at which it can fall. And raise back almost immediately
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Well yes I get what you are telling. I was generally telling about crypto , not particularly about BTC.
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Oh, ok
I guess you are taking it granted. Up and downs in financial market is always possible. We just need courage to buy in dip an "use our mind" instead of following some shill media.
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That is the risk to be taken in life, we just have to know that if the gain is more than the risk, then there is no point waiting time, and for BTC we will all agree that the gain is huge enough to swallow the risk
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Would be a grand buying opportunity.
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It definitely would be and it's hard for people's emotion to be in check when they see so much money lost. Maybe we can see a few of those leverage accounts go broke.
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It takes some getting use to.
I use to think $10K was a lot until I started to lose that in a day (and gain it).
Really just numbers on a screen and short term focus will drive one nuts. That is why long term is the best future for me.
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Yea but I avoid leverage unless the risk is low. Long term is much easier and the options market in the stock market seems easier to me. Long-term, just buy the stock and sell upside calls. Sure you might not lose as much and you might not gain as much, but selling covered calls is an easy long-term investors way around.
Normal options are also good since risk is defined and you got a game plan too. Low risk and long-term outlook seems to work the best for me.
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LOL that was unleveraged. A have significant holdings in GBTC which can obviously be volatile.
A few dollar more either way either helps or hits me hard.
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