Topic: Bitcoin and Altcoins are in Correction! - page 2. (Read 274 times)
correction my ass. if you look at the buy and sale orders of btc on gdax right now someone is manipulating the price. correct me if im wrong.
Crypto in general just lost a whole lot of new people/money. These weak hands were needed to grow the market. Lets hope we haven’t lost them for good and hopefully more investors will come. I can tell you this crash has really hurt cryptos reputation amongst average folk
Problem is that corrections like this will put a lot of people off crypto in future. As there is so many more people in this than ever was before, if a bounce doesn't happen soon it could be very detrimental to the whole crypto scene as one bitten twice shy and on a world scale it has the potential to ruin or severely hinder the future of the crypto world. If retail investors are lost then institutions have no one to make money off. They could be overcooking this one a lot more than they notice.
Crypto in general just lost a whole lot of new people/money. These weak hands were needed to grow the market. Lets hope we haven’t lost them for good and hopefully more investors will come. I can tell you this crash has really hurt cryptos reputation amongst average folk
Never sell on fear, sell on data.
Wah! This is great! As a rookie, I need that kind of explanation --- conclusion.
Two things:
First, you can make a lot of money by being a contrarian. Never believe the hype, figure out for yourself if it is a good time to sell. If the underlying fundamentals have not changed, then a large downturn may be a buying opportunity. Never sell on fear, sell on data.
Second, for bitcoin specifically, the news always calls a crash on a dip, and a bubble on a high. I don't think bitcoin is a bubble yet because it has not reached mass adoption. There are lots of things to look at but that is the big one. Long term will there be more people buying bitcoins? I think so, so I am not worried about the down turn.
If you don't think this is the case, then maybe it is a good time to sell. But I suggest you try to prove it! If you can't prove your case then it might be based on emotion rather than data.
First, you can make a lot of money by being a contrarian. Never believe the hype, figure out for yourself if it is a good time to sell. If the underlying fundamentals have not changed, then a large downturn may be a buying opportunity. Never sell on fear, sell on data.
Second, for bitcoin specifically, the news always calls a crash on a dip, and a bubble on a high. I don't think bitcoin is a bubble yet because it has not reached mass adoption. There are lots of things to look at but that is the big one. Long term will there be more people buying bitcoins? I think so, so I am not worried about the down turn.
If you don't think this is the case, then maybe it is a good time to sell. But I suggest you try to prove it! If you can't prove your case then it might be based on emotion rather than data.
I've read that: India, Korea, and China. But, it will go back, I know.
Dumping all because of bitcoin, a lot of negative news the past week, and binance not servicing china.
I know, a lot of those rookies in crypto (well, including me) got a panic attack because of this current downtrend; Bitcoin, Altcoins.
I almost sold my holdings and take a walk in a shopping mall, but, luckily, I have read this very nice article and got me back into my real self.
I almost sold my holdings and take a walk in a shopping mall, but, luckily, I have read this very nice article and got me back into my real self.
Disclaimer: This article is not mine, and will not be mine. I just want to share this to enlighten those rookie (like me).
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