The last 2 days have been truly dramatic. Did anyone expect this coming or was it a big jolt. It was a big way correction and may be or may be not people were prepared for it. The big correction was getting contemplated in some time so guess almost it was expected to happen anytime soon. But the point is, is it over or are we still going to feel some tremors.
How do you see such correction periods. As an opportunity to buy as the prices have dropped or you feel loss of your value. Personally I try to take some opportunity from these dips, but guess, this time will miss it, as I am awaiting some payments which would take a week's time and only then I can think of investing. But may be the market may not wait till then and it is possible that the price may increase by then. I am hoping the downside remains for some more time. Let it consolidate and then rise.
If you are following The Moon crypto analyst, he predicts the prices may go down further. BTC may fall to 40k to 41k and ETH can go down to 1200. I regularly follow him and my observation is that his analysis have been kind of quite accurate to an extent. On his analysis I have also carried out some trades and they have worked out exactly as predicted by him. So I am thinking it may go down, but then this is the crypto market no one can say anything. Also the current price is little up so not sure if we are gaining back the momentum or is it just a stop gap till we see another downfall. You may also follow The Moon, he puts out multiple videos on YouTube in a day giving very good predictions and insights on the market.
Personally I feel at this point of time one should avoid trade unless one is a very good player. The market can move in any direction and the trade may go in loss, so it's best not to take a chance. I made one ETH trade but then closed it in sometime only with a very very minimal profit. I just missed the loss, else it would have been a big loss for me, because just after I closed it, the price of ETH started dropping at a very rapid speed and there was no time for reaction. Thanking my lucky stars. This was a little jolt for me, I am not going to do trading now, till there is some clear signal of go ahead from the top analyst. I am sure we are going to see these dumps on an off as the price keeps going up.
So let's see if these bumps end here and stability comes in or we still have to see some more downs......
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Only those good players benefit the most from trading unlike us. I think, you should tag this in twitter to The Moon crypto analyst - use @FinanceLeo on twitter as well. That way, we can see his twitter handle, I could not find out.
Hey @sanjeevm, I have done it as suggested by you
You fell lucky there... 2 days ago came as a shock to me. It was unexpected as btc and many other alt went dip.
I only imagine those who are new crypto that bought btc when it hit $50k thinking it is directly on its way to $60k.. I am sure many of them would make panic sales since they are new to the system.
Moreover, the moon crypto analyst.. From YouTube right?
Yes, on YouTube, you may also follow him on twitter.
You bet for someone new this will be a mind boggling experience. That person might swear never to invest in crypto if the understanding is not enough
Lol!!! Exactly you got it on point. This was me in the days of steem when I was new to crypto in 2018. I was buying steem until it dropped and I got depressed 😅😂. I left the platform with the thought of never coming back but somehow I found my way to Hive last here.