For starters, I never trust someones judgement who doesn't believe Bitcoin will recover, but only it "can". If you think Bitcoin might die, after 300+ deaths, then you don't belong here to put it simply. I'm very grateful for the leverage traders, the shorts market and futures. Whatever can help correct the price faster. Note how the correction has so far been around 50% faster (based on Weekly MAs) than the 2013 correction that lasted 18 months. I respect the day traders who have been in the space since the beginning, they are great market makers. Personally I don't day trade, I don't short, I don't play futures markets, but without them we'd be completely lost right now coming down from $20k.
The idea that leverage traders are to blame for the bearish market is a complete joke. Why not blame the lambo boys and spectulators who jumped in from $5k, $10k and $15kyou might for the price to reach $20k? Blame the parabolic nature of the market, people's blind greed and stupidity, not those who are bringing price stability and confirmation faster than expected. Blame yourself if applicable. Of course interest in Bitcoin is decreasing, as the price is correcting, it's called a market cycle.
I can tell from your comment that you lack experience trading. It seems you don't have a clue about what is REALLY happening in this market. All you know is it is bearish. And you think what you see is normal. It's not normal. This market is filled with fraud and manipulation. The activity of the people you are praising is the reason why this market has suffered and is suffering. If you were a real trader you would understand that, because you would see it in the charts.The idea that leverage traders are to blame for the bearish market is a complete joke. Why not blame the lambo boys and spectulators who jumped in from $5k, $10k and $15kyou might for the price to reach $20k? Blame the parabolic nature of the market, people's blind greed and stupidity, not those who are bringing price stability and confirmation faster than expected. Blame yourself if applicable. Of course interest in Bitcoin is decreasing, as the price is correcting, it's called a market cycle.
Moreover, if you were a real trader you would know that the past doesn't predict the future. Yes; Bitcoin could utterly fail. And if things don't change, it will fail, and the whole crypto market will go down with it.
Don't misunderstand me. I am not saying I want Bitcoin to fail. I have money invested in crypto. Of course I want to see it do well. But I am not going to sit back and keep my mouth shut like a good little sheep just to make people like you happy. People need to be realistic. Only having positive thoughts about any market is not being realistic.
You think I lack experience trading? LOL. I made 100% profit last year swing trading, I made another 100% profit last month even. You think I lack trading experience? You're hilarious. I don't swing trade anymore simply because it's too much effort in a bear market, I've made enough profit already, and the risk to reward ratio is too low for me now. Yes I doubled my money again this year within 6 months, but last last year I doubled my money in 3 months, although clearly should of pulled 200-300% it if I knew what I was doing back then. Therefore I haven't got the patience for swing trading at the moment, but full respect to the pro swing traders still going strong and living off this market. Not to mention I'm now just sitting on profit so I don't care where the price goes, that's what playing with house money feels like. It's chill, you should try it! The lower the better to be honest, I'm hoping for $2.5k at the 200 Week MA if the 100 Week MA doesn't hold at $4.5k, but I realise we all probably won't get this lucky with institutions waiting on certain discounts. But you can always hope.
I can only assume you're one of those bitter people who bought into the parabolic rise last year and either didn't sell profit to get yourself on house money (no.1 rule of investing into incredibly speculative assets) or you simply bought high and are now sitting on a loss so need to find something or someone to blame. You say this correction isn't normal, have you even looked at a historical logarithmic chart? The 2014-2015 correction? Do you know what parabolic means or what a bubble is? That would tell you with RIDICULOUSLY overbought weekly RSI levels last year, your target buy is oversold weekly RSI. It's simple mate, get a grip. Or if you are playing with house money (profit) at the moment, then what on Earth is your problem? If you're winning, then be grateful. If you're loosing, you should know better. "If it sounds too good to be true, it probably is".
Not to mention it's so simple to make money in this market: Buy low sell high, buy red sell green, buy fud sell hype, buy the rumour sell the news. Couldn't be simpler, even with just MACD crossovers you can pull profit in a bear market. I don't get how people lose their money unless they are idiots who sell at a loss. Before it was even easier buying oversold and selling overbought Daily RSI levels. How could you not get on house money???
I love it when greedy people get burnt "I'm not selling at $20k, it could go to $100k by next week!", serves them all right
Bye bye lambo boys and good riddance! You're not welcome in this space. Either swing trade and make profit, invest long-term or both, or f*** off basically. I've got no sympathy for sore losers blaming "manipulation" for a natural correction. The price would be manipulated if it wasn't correcting right now. The price was manipulated from $5k to $20k over futures markets news, but I never heard people complain about it when the price was going up! Funny that. What's not normal about this chart, please explain (in depth using technical analysis, not random conspiracy nonsense):https://i.imgur.com/GbXxLHm.png
