How btc price correction make things right. And what you should be aware of.

Bitcoin Seller

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Quote from: batang_bitcoin on November 05, 2020, 04:51:01 PM

Bitcoin and Ethereum aren't in the deep but we can say that cryptocurrencies are highly volatile if someone wants to make his investments out of it, except the stable coins that don't move on the price of $1.
Along with the rise of bitcoin, there will projects that will come out of their graves and will start to see pumps again trying to prey emotional investors. Those that are looking for quick profits and they are the ones that are being targeted because they are gullible for those tokens.

I would better say that when Bitcoin is going up like it happens in November 2020, the market loses stability (yes, even volatility can be stable). People split into 2 groups. One group is rushing to sell BTC as it thinks, it touched the top. Another group is buying more and more crypto.

lienfaye

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Top altcoins are always good investment either for short or long period. However each investor should understand how the coin work, dont expect it to skyrocket if btc pump because they have their own process and time on when to show progress.

Always understand what you're getting into whether its a new or old coin its a must to have your own understanding. They are different in their own ways so its a must to know their uses first.

dunfida

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Quote from: TitanGEL on November 10, 2020, 06:44:41 AM

Quote from: xSkylarx on November 09, 2020, 10:32:24 PM

Correction is normal and we should expect this when pump happends. This indicates that the market is healthy and traders are grabbing their profit that time. If correction doesn't happen then it's just a pump and dump scheme like any other crypto out there.

It is normal in the market if there is sudden price correction happen, do not be afraid just because the price retrace because it only means that the market is in bullish movement. I tell a lot of people that they must be afraid if there is no correction that happen because for me it is where the whales can manipulate the market where they can dump the price of the bitcoin. The price is now in Multi year high so it means that the trend is very strong. If you will also use higher time frame which is weekly and monthly, you can also observe that the price of the bitcoin is now doing good. The correction and the pause of the momentum are normal, do not sell your bitcoin just because a retracement happened.

Sell if you are a short trader or active ones yet theres no point to hold and do still wait for the next market move and this is the most important thing where when you do see some gains then sell it immediately
and wait up for another step or possible movement neither this is the new bottom or would wait up for correction.Also, a healthy market do compose of that normal pump and dump/correction.We cant just see
a market that will continously rising up because its already some sort of manipulation on that manner thats why its up to someone profit taking or goal because not all would really be aiming for long term
but rather on short term sell-offs.

jrrsparkles

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Correction eliminates the weak hands from the market but it doesn't mean it make the whole thing right in my opinion. Well corrections are inevitable,if there is a bumo there should be some corrections on the prices after a while to get the range of the asset to be shifted.

TitanGEL

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Quote from: xSkylarx on November 09, 2020, 10:32:24 PM

Correction is normal and we should expect this when pump happends. This indicates that the market is healthy and traders are grabbing their profit that time. If correction doesn't happen then it's just a pump and dump scheme like any other crypto out there.

It is normal in the market if there is sudden price correction happen, do not be afraid just because the price retrace because it only means that the market is in bullish movement. I tell a lot of people that they must be afraid if there is no correction that happen because for me it is where the whales can manipulate the market where they can dump the price of the bitcoin. The price is now in Multi year high so it means that the trend is very strong. If you will also use higher time frame which is weekly and monthly, you can also observe that the price of the bitcoin is now doing good. The correction and the pause of the momentum are normal, do not sell your bitcoin just because a retracement happened.

xSkylarx

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Correction is normal and we should expect this when pump happends. This indicates that the market is healthy and traders are grabbing their profit that time. If correction doesn't happen then it's just a pump and dump scheme like any other crypto out there.

harizen

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Quote from: Cryptoababe on November 05, 2020, 03:37:19 PM

What I know is, If anyone buy any shit coin or token in the deep, you are digging more hole for it to go deeper. Beware of coins or token price that fell more than expectation. The best decision is to buy btc, eth or any other top cryptocurrencies. These coins have been here for long and surviving trough different kinds of issues.

Honesty, even experienced traders participates in taking advantage of sh*tcoins or those coins who are bound to fall later on or a product of hype.

Since they already know the risks, they can determine when is the right time to get in and out.

So let's put it this way, newbies shouldn't do that just because they saw someone takes a decent profit out of it. Only those experienced traders can handle and understand the risks of playing with that type of coins.

beerlover

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You may believe that if you buy bitcoin and ethereum you may not make as much money as you hope you would, however people who have invested bitcoin 2 months ago already made 50% return from your investments. If you think that is low and you want to make more profit you are going to be involved with things that would be much more difficult and would be much more risky as well.

I am not saying btc and eth are the only things that would make us money, but I just think they are the most trustworthy ones and we should not be looking at anything else like it is a possibility of them becoming as big as btc or eth, nothing will be as big as them because they are giants that keep evolving and growing bigger. What you could find would be some gems in the rough that would later worth something hopefully but that is riskier.

DarkDays

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Quote from: Wapfika on November 06, 2020, 08:40:15 AM

Quote from: Periodik on November 06, 2020, 08:31:38 AM

Just invest in the major coins. You can't go wrong with the likes of BTC, XMR, LTC , and ETH for example.

Don't be afraid of corrections. They always happen and normally after a nice rally. They could always be used to your advantage. That's buying days for all of us. Just don't allow yourself to get carried away by emotions seeing red candles.

Price correction is needed by the people who wants to enter the market at lower price as well to avoid too much crash in the market when the price went too high.

I agree that price correction is necessary even now when we see BTC breaking a new ATH for this year. This is why I expect that the price won't go much higher without there being a decrease where as apart of

the correction will hang on for a couple of days at least.

Why then is price correction necessary for BTC to continue on its ATH trend?

It is because we need to get these fat order books where people place lots of buy orders and that in effect will act as a ledge and a resistance point for further decrease. The reason we expect a larger order book

is because people would want to buy in BTC, specially now that it one again showed some promise and don't want to pay the higher price. Therefore, in anticipation that it will fall to some level people start putting

stop-limit buy orders in. And that's why large resistances back up price correction and vice versa.

drlukacs

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Quote from: Cryptoababe on November 05, 2020, 03:37:19 PM

The real fact is everything in cryptocurrency is currently in the deep. Very deep.
There are a lot more to come. So, stick to the right ones so that you will not cry later.
Also, I will love to see people talk about Legit and good cryptocurrency projects to invest in under this thread.
Thank you.

I know investing in top coins is safe, but the returns will be very low. But not only can Bitcoin and Ethereum be profitable for us, we also have altcoins or potential projects that can be very profitable during this period.
Especially I have a lot of faith in the Defi project called Kira Network and it is being fomo in the European community as well as in Southeast Asia.
Kira will mainet next month and then decide to list it on top exchanges, keep in mind that the Defi trend still works pretty well right now. You can refer to it through this article below:
https://boxmining.com/kira-network-kex/

EdenHazard

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Quote from: acdc on November 08, 2020, 03:21:01 PM

Quote from: Cryptoababe on November 05, 2020, 03:37:19 PM

What I know is, If anyone buy any shit coin or token in the deep, you are digging more hole for it to go deeper. Beware of coins or token price that fell more than expectation.

The majority of dead ICO projects will never return, the development team and investors have left the project, and a project not taken care of by the development team will simply be a pile of trash.
After the ICO hype back in 2017 I learned from experience never investing in a project the development team left it.

You might learned something from the good old days ICO hype but not with everyone else as we still see a lot of people trapped on a brand new DeFi hype project , some people losing money within 24 hours as the projects run in awfully code audited just like the weird project ever YAM.
And some people might taste a nice unexpected profit from the UNI project , well we can't blame anyone for this right? The crypto space grow so fast and you can't really follow it thoroughly all the time.

The current correction phase would decide whether the altcoin season begins very soon or the bitcoin rally will continue, *watching it closely.

SquallLeonhart

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Quote from: CryptopreneurBrainboss on November 07, 2020, 10:56:06 PM

snip

Stablecoins are a whole another topic, they could become 1+ trillion all I care and I do not see them as real coins, I see them as just things some companies printed to get money and that's it, we are gullible to believe that it is not centralized and I think they should not be even in the discussion or the rankings because you do not invest into them, 1 USDT will always worth 1 USD so they are not investment related at all.

However when it comes to ETH vs XRP or ETH versus anybody, ethereum had a problem with the upgrading while also being in a very bad market, they kept postponing their update and that made some people angry, it wasn't a bad coin and we knew it would take it back, it just became undervalued for a very impatience related reason that's all. I do agree that some coin may take over one day, but I do not see it remotely possible anytime soon.

acdc

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Quote from: Cryptoababe on November 05, 2020, 03:37:19 PM

What I know is, If anyone buy any shit coin or token in the deep, you are digging more hole for it to go deeper. Beware of coins or token price that fell more than expectation.

The majority of dead ICO projects will never return, the development team and investors have left the project, and a project not taken care of by the development team will simply be a pile of trash.
After the ICO hype back in 2017 I learned from experience never investing in a project the development team left it.

bitbunnny

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Quote from: Johnyz on November 07, 2020, 06:56:11 PM

Quote from: Reid on November 07, 2020, 02:32:19 PM

Yeah, don't be a victim of sweet statements and testimonies.
Better, think of them as something fishy. Grin

How can I say that?
Well, I am a victim. Bought some dust coin for 2 satoshis because of their sweet engagement but in just one day it all fell to 1 satoshi.
Then it never moves up in weeks and months.
Learned my lesson afterward. Stay with the legitimate ones. Expensive, also risky but you know it can come back from the grave.

I always do my own research despite of the team claiming as a good project because that’s their way to attract investors and you have to be wise always. The btc price correction has something to say, for me that’s another buying opportunity because the up trend is still there, so there’s a chance for the pump. You should always be aware about the project details, don’t skip this part.

Making your own research and background check is always a good idea. It's better to be sure where you put your money instead just relying on information that are served by project.
But many of us learn our lessons on harder way, usually very expensive but as long as we don't make the same mistake again it's just a good lesson.

xZork

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Yes, the majority of ICOs are dead and what remains is a pile of rubbish, however we cannot stop some investors hoping that the dead ICOs are pumped back. Such projects can bring them great profits but also many risks, it is best to invest in projects in the top 50 of the market.

BIT-BENDER

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Quote from: batang_bitcoin on November 05, 2020, 04:51:01 PM

there will projects that will come out of their graves and will start to see pumps again trying to prey emotional investors. Those that are looking for quick profits and they are the ones that are being targeted because they are gullible for those tokens.

I will not trust a zombie -from the dead- projects they pump price can be manipulated, faked by the projects, I have seen a complains, investors thinking the price on sites is original and may even buy more, thinking about more profits but they get the points thats its all self-hyped. Am not nimble in knowing a projects that would be good I don't care to know, its Bitcoin for me.

Ridwan Fauzi

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This is why we have to avoid to take a decision by someone else suggestion, it can't make you comfortable during you hold the coin. Different with you make your own analyst and you buy it you will comfortable although your decision is gone wrong you will revange to entry in another price that will make you profited.

Bitcoin or at least the altcoin which is is the top position like in coinmarketcap are deserve to be chosen as your investment place. The altcoins will always be in the exchange to trade unless their developer get a problem and they abandoned the project then we will assume that the altcoin will become a shitcoin, so be careful with that it can happen anytime.

Periodik

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Quote from: Wapfika on November 06, 2020, 08:40:15 AM

Quote from: Periodik on November 06, 2020, 08:31:38 AM

Just invest in the major coins. You can't go wrong with the likes of BTC, XMR, LTC , and ETH for example.

Don't be afraid of corrections. They always happen and normally after a nice rally. They could always be used to your advantage. That's buying days for all of us. Just don't allow yourself to get carried away by emotions seeing red candles.

Price correction is needed by the people who wants to enter the market at lower price as well to avoid too much crash in the market when the price went too high. We should be aware of that some point when the price arises it will sure to fall down so we must monitor it properly when we know that the price we're getting higher so once it shows some start of low points we will be able to withdraw and get some profit.

Price correction is a result of some people selling. They must have already earned a decent profit that they think they should now exit and sealed their gains. It does not mean they won't enter the market once again, though. They will in due time, after the price has already moved down a bit. Others may not have made a bigger profit but they think the price increase is already high enough for it to probably correct that is why they considered selling as the best option.

CryptopreneurBrainboss

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Quote from: SquallLeonhart on November 07, 2020, 01:40:28 PM

I both agree and disagree with your point about top coins. I agree that not all that top 10 was there and some of them will go down ...

However I also disagree that coins like ETH could ever come down...

I mean look at ETH for example, it became second biggest and it doesn't look like it is going to stop anytime soon with how they are improving to stay relevant.

I have no disbelieve in ethereum been a very successful coin. It's currently the only coin worth investing in my opinion after bitcoin and the upgrade coming up now on 3 December, is another major reason why it's advisable to get your hands on them while it's still affordable but when the issue if top 10 are brought into the discussions, coins like ethereum can easily be outperformed.

Let me reminder you that few months back for a very long period of time, ethereum lost its second position to ripple before regaining it after ripple failed to deliver. Now stablecoin are getting the volumes in regards to traders trading them and was reported they became the most traded coin as one point with in last 2-3months. Earlier this year, it was reported that Ethereum’s value transfer Is now dominated by Stablecoins. and also became the most valued coins even ahead if bitcoin as sine point.

Ethereum is current profiting from the FOMO of its upgrade, sooner the hype was die down and if things are to get tense in the space like the introduction of cryptocurrency similar to what facebook's Libra tried achieving and the stablecoin volumes increase, we'll be seeing new coins in the top ten.

Johnyz

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Quote from: Reid on November 07, 2020, 02:32:19 PM

Yeah, don't be a victim of sweet statements and testimonies.
Better, think of them as something fishy. Grin

How can I say that?
Well, I am a victim. Bought some dust coin for 2 satoshis because of their sweet engagement but in just one day it all fell to 1 satoshi.
Then it never moves up in weeks and months.
Learned my lesson afterward. Stay with the legitimate ones. Expensive, also risky but you know it can come back from the grave.

I always do my own research despite of the team claiming as a good project because that’s their way to attract investors and you have to be wise always. The btc price correction has something to say, for me that’s another buying opportunity because the up trend is still there, so there’s a chance for the pump. You should always be aware about the project details, don’t skip this part.

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