Topic: Are you on guard for any unexpected? - page 2. (Read 421 times)

I consider myself as a long term holder. It doesn't really matter what the price of Bitcoin currently is or is not. Price increase and price drop doesn't matter to me. Sometimes I try my hands on trading for a short period of time, that is the only time I get a bit concerned about Bitcoins price. Aside that, I my weekly DCA on point.

The crypto market itself is unexpected. So yeah, we all should be on guard for any unexpected turn. Also, remember that what goes up also comes down. I am not saying that there would be a huge dump after this spike because I am not sure what is to come, but we all should be prepared. Bitcoin is a long-term investment asset, so those who are in hodling, won't think much of it. Ignore the little things and focus on the bigger picture.

If you think about it, imagine BTC reaching 50k. Will these small spikes make any difference? If you are a short-term trader then that's something you should worry about. But keeping in mind that BTC is a long-term asset, focus on hodling. History repeats itself. Halving is near. Is it still too late to invest in BTC and hodl? Of course not.

Focus on what you can gain in the long run. Then these small movements will mean nothing. Dump again? Well, that will be another opportunity to fill our bags.

{Not your financial advisor. DYOR}

There are some traders who understand and have prepared some actions as steps to minimize losses when it happens or reoccurs, and there are also some of them let it go and of course they will feel the loss as a result, I think for those who let it go are most of the new beginners who have just come who do not really understand every condition that is there, and with that it is only natural that the lack of action to minimize losses by some things that are very likely to happen there.

For stop loss well that's right, every trader is very obliged to have it and in my opinion it has become a very necessary thing and cannot be separated from our best planning regarding limits. It is very clear that stop loss has a very important role because in addition to good self-control and strong mentality they also have to apply some actions to help prevent the things they experience from being too significant, for example, like this stop loss. If they do not apply this important point at all to each trade then it will be very likely that they will experience large losses and even experience MC, as well as stop loss in fact take profit is also needed because there is absolutely no greed in trading, and take profit will help them to place some daily or monthly targets. Both are very important.

The extra money you have saves you from a drastic drop in Bitcoin.
You bought Bitcoin when the price was $30k-31k and that was a pretty high price in mid-May.

But at least you have made another gradual purchase or DCA strategy at a lower price, almost half of the first purchase at $17k and you did it gradually.

This will accumulate the Bitcoin that you have so that the average purchase will be slightly lower and you can get a profit even though it does not reach the price of $ 30k and above.

Bitcoin is still safe for the long term and you really need to have a plan.
We will still reach ATH in the coming years.

The unexpected as word used in this conversation can promote FUD for some people who are new to keeping bitcoins. If you have been keeping bitcoins for a longer time, a sudden change in price will not be something unexpected or a happening to change your choice to keep holding on to the bitcoins that you have, and no matter how on guard you are, you cannot stop it from happening. You need to be on guard monitoring the market if you are a trader incase the market begins to move the opposite direction of what you predicted.

As a long term holder myself, I wouldn’t really mind about something unexpected. I bought BTC when the price was around $30k to $31k in mid-May of last year.

Even when BTC crashed to as much a $17k I kept holding on and doing DCA with my extra money. The rest of my DCAs are at least a bit of profit when I have bought them during the dip between $19k to $23k range.

Wherever the market goes, my BTC is here to stay. I do not do day trading or scalping that much, so all good for anything unexpected.

I am not a trader myself. So, I don't know what traders do in such movements. Traders usually make money in both movements. But, if I am not wrong, almost every trader uses stop loss so they don't liquidate their balance. Significant movements happen where there are massive orders on exchanges, and sometimes, news also affects the market. Traders should always remain cautious because these moves happen very suddenly. If they do not set a stop loss for their position, then it's dangerous for them. I started accumulating Bitcoin since I started earning Bitcoin from the signature campaign I am participating. I sold a small portion of it, and the maximum earnings remain in my wallet.

For futures trading this is a really huge problem but for holders like us we really don't notice this because we tend to always go long-term meaning that is just a small pump or dump and our goal is about those ATH which means a huge uptrend cycle not only based on one candlestick on a daily timeframe. Though being prepared is the best in this kind of investment you should always be ready and cautious as anytime the market will get your money and you can't stop it.

This really looks like a fact because yesterday I also saw a decline in prices after the sudden increase in Bitcoin in the market. And I think traders who like to take profits in the short term really like that kind of thing because not long after they buy, they can immediately sell it for a profit and put capital back in for the next purchase. It's just that market waves like that sometimes also require patience in waiting for a surprise such as a sudden increase, because such increases usually don't occur in large numbers in the market.

Bitcoin is highly volatile that’s why its price fluctuations is not new anymore. One day it’s up, the next day it goes down, and I think we can’t never change that fact. So in short, expect the unexpected. Even if bitcoin halving is fast approaching, but that does not mean that every road will be smooth for bitcoin price. As long as there are certain factors that contribute to the market’s volatility, expect that bitcoin will never go straight pumping but it will eventually go sideways and return to its position when the market starts to recover.

Any news can affect the movement of Bitcoin up or down, this is nothing new and this happens even when someone complains that Bitcoin volatility has decreased. It’s very difficult to please people, some people need volatility for trading, some want Bitcoin to become more stable, but the crypto market doesn’t work like that, there has always been high volatility here, and I think it’s unlikely that anything will change in the next few years.

This kind of market movement is quite normal for the Bitcoin market.  We have seen this kind of chart several times when the bull trap happens.  The current price increase may have been influenced by the order given by the US Congress on SEC to approve Bitcoin spot ETF applications as stated in this article: https://cryptobriefing.com/sec-told-approve-bitcoin-spot-etf-immediately-congress/.

As this thing called bull trap always happens, I think I am already on guard for this kind of unexpected event.  And since I planned on selling when the real Bull run came, this kind of unexpected thing did not affect me much.

Exactly. Bitcoin had never a fixed price so expect that any time of the day, it’s price will eventually go down lower or might even make another increase. And this is not really new for a volatile market like crypto. Holders should never put too much expectation on the market because we don’t hold what will be the price of bitcoin an hour after, a day after or even a year after. So even if bitcoin is expecting to pump this October, still it could always go the opposite way.

The bitcoin chart has taken the opposite direction a few hours after you created this thread, which clearly shows how volatile this market is. Bitcoin traders need to be on guard because I don't think there will be much profit in bitcoin or crypto trading. Holding will be the main thing to do right now since the price is still down and affordable.

Many of us expected the bitcoin price to be above $30k by now, especially as we are about to enter the final quarter of the year 2023 and bitcoin halving is expected to happen in the year 2024, but the price of bitcoin has not made the upward move we were expecting, which has made the price unpredictable. We need to be very cautious with our investment. We should invest now before it becomes late since we don't know when the bitcoin price will shoot up.

If you are just new into this market and seeing that sudden jump in price then you would really be molding up the impression that the market would really be making up that continous upward movement without even trying out to think that it might be some sort of bull trap on which it really is with that recent movement on which it is really just trying out to liquidate to those who do make out some short position specially on futures.
For those who are experienced or have been here on this market for years then these kind of movements is never been new. It could happen in a blink of an eye and if you had bought earlier then the best or wisest
thing to be done is to sell out for profits and rinse and repeat on which this is something a very common action which needs to be made.

We know that this market is unpredictable and price could really jump or dump in a matter of minutes and now we are seeing that the price is really moving again sideways after that
small green candle but i dont really see it to be a serious movement but for those who do able to make some long position then it isnt really that a bad thing for them.

The fact that the Bitcoin market suddenly went so high doesn't seem to me to be positive for Bitcoin. If the value of a coin increases suddenly, then the value of that coin suddenly drops down to the bottom. We need to rely on all of these candles to be phased upwards over time. We may soon see a big dumping like the big pumping in the market. But there is a lot of profit opportunity by trading during such instability of the market, suddenly when the market comes down a lot if trading can be accepted at that time then profit is definitely possible from there.

For those people who hold bitcoins, this means nothing at all. This is a minor price change. People are waiting for a significant leap upward. And such changes have happened more than once over the past couple of years. Bitcoin may fall by 2-3 thousand. I don’t think anyone except scalpers cares much about this

Wow, nice catch of that screenshot as that's where it began to fall and a nice fall came after dollar index went on an insane rise near 107 (not a big deal to break now). Everything had been bearish but because there were some good moves shown by btc, we started thinking that it will break the resistance of $26800 easily and it rejected from there once again. Seems we still need to wait for some more time till btc prepares to break above this barrier and move forward.

What is going to happens before friday? Premium buy really?

I think whales have already started accumulating below the 20K zone. What we are seeing now is institutional buying like microstrategy. I am not sure about those assets, manager. They are buying too secretly, or will they wait till the final approval? I think they will finish accumulating before the final approval, and what we will see is FOMO in the market, and retail investors will jump to buy whatever they can.

Just hold on dear life. lol

I am hoping this spike is a signal that prices may go up next month and may continue til the yuletide season. We have been down this long already it's really crazy that I'm still holding on to some altcoins but it's too late to also sell.

The spike today I think was about Gensler getting roasted in Congress but the excitement also died when he still declined the spot EFT. I'm wondering if this man wasn't threatened or if was he already hiring a ton of noncrypto bodyguards.