So with how much bitcoin and all the altcoins are down, is it even possible for any trader to make any money? Example let say this. You buy btc at a very low price due to these dips. Now you could either keep btc or buy altcoins with it. Now the market goes down every single day.
If the purpose is to hold for long then the important thing is accumulation. So yes if the price went down more,
a.)hodl or
b) continue to add more if you can still afford to risks some.
Anyways, with how much all the coins are dropping, is it even possible for any trader to make money on days or weeks like this? Im thinking its only possible if they make sure they sell it at the right hour and minute etc in order to profit. But of course if they are down almost all day, how is it even possible for anyone to make any money? Sure when the market goes back up in a while, and the price gets higher than they bought it at and now they sell, the profit. However, the same ppl who hold the coins will profit as well.
Patience. You don't need to target profits everyday or every week even for a short term trader. It will just stressed you if you will force to make profits out of the bearish trend if you can't able to properly handled it.
Anyone here have thoughts or opinions on this? I got excited about cryptocurrency and trading and wanted to do it. But now when i look at it, its basically look at the market. There doesn't seem to be any skill in it. Can anyone here correct me with any of my statements especially if i made any especially in sportsbetting? Thanks.
Don't want to take too long replies to you since I doubt you will really read it.
Based on your statement, if that's really came up on your mind, I see that you are thinking too much. Try to be comfortable and relax yourself and soon you will understand what's the situation every now and then. You will learned what things should be done on the way so patience.
Trust your judgement, trust your strategy, trust your analyzation, trust your chosen hold coins, trust your own decision.