Topic: How btc price correction make things right. And what you should be aware of. - page 2. (Read 472 times)

I don't know if there are many.
But if you will notice any of them, always take a look at the charts because that's an easy demographic to look at as your basis if a coin is like that.
It happened before so it's likely to happen again if we see the bull run is about to come.

Yeah, don't be a victim of sweet statements and testimonies.
Better, think of them as something fishy. 
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 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 while new ones will come up and top 10 will constantly change I agree with that. Blockchain technology is something marvelous and we keep creating something better and better with it, and with more improvements in the future we are going to see better coins as well.

However I also disagree that coins like ETH could ever come down, or if we consider USDT as a "coin" that would probably be still high. So, I both agree and disagree because I agree some will go down while I disagree because some will stay up most probably. 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.

Price correction is important because it is the time where the bitcoin will create a new base or new support where it only means that there will be a a new area where there is a huge demand. It will be a sign of weakness if the price will not retrace because it only means that there is no support where for sure that there will be a huge dump will appear. I'm not good in terms of chasing the price of the bitcoin especially nowadays where I can considered it as overbought, for those who want to enter or want to buy bitcoin; I prefer to wait the retracement. When it comes to buying a retracement, I usually use the Fibonacci Retracement as a tool and I just plotting it from swing low to swing high and the ideal retracement for me is the 38.2% and 50.00 % Fibonacci retracement. My buying signal is whenever the price support and have rejection in 38.2% or 50.0% Fibo.

Well you should understand that most top coins that are currently in the top charts in regards to price and market capitalization weren't there few years back excluding bitcoin therefore the chance of them still been there in other years to come aren't certain. I can tell you for a fact that coins like Chainlink won't be in the too tens just as I speculated coins like EOS that was among that list last year won't make it this year.

While all you said made sense to this point highlighted above, you don't Invest or advice people to invest just because project are in the top whatever. We have scams project there too. Few years back, project like bitconnect that was a clear ponzi scheme scam was among the top 10 that means you probably would be suggesting people buy them and if they have did, today they would had been in losses as many Investors found themselves after they exit scam.

Every investors or traders desire is to enter the market when the price is undergoing correction however there are instances were the price dipped more after correction after the trader had already bought at that zone except such a trader is knowledgeable in charting analysis else investors or traders might continue to buy or enter the market at the wrong point this is mostly common with shit coins whose daily volume traded is nothing to write home about.
I will only encourage nvesting  in Bitcoin or eth these ones has potentials and steady growth.

Talking about investing in Bitcoin and other top cryptocurrencies are always good but that isn't a problem if you will try to invest shitcoin that you willing to lose, what I mean is you know already the risk and if your luck was there, a massive fold of profits was always on their mind and the reason of other's wants to invest in new projects.  Another factor in risk to consider is most projects as of now are a scam, it's really hard to determine a good project even though it has good team promotions and even has good detail in the road map.

If you are looking for an excellent potential investment for holding the long term, top cryptocurrencies are a good choice while a new project that has a hype promotion is a short-term purpose only.

Traders who are buying shitcoins in the 'hopes' of seeing them in the sky one day are just blowing air in cold milk. Bitcoin brought shitcoins down and will keep them down no matter how gradually these shitcoins try to catch up with the present bull run. Being aware of the old coins which were taken to sky and then we're brought down and did not recover during any phases, should not be bought under any circumstances.

We keep on talking about holding bitcoin all the time but sometime newbies coming into the market makes more mistake, in as much as the market works in a circulatory ways, as in losers gives out to gainers while this continues making the market more volatile that's while traders said newbies feeds expert traders.
On a rare note, bitcoin is advisable for every beginners to buy and hodl for a longer time, while watching over other alternative coin to trade in, trading has to be learned for easy understanding.

For experienced traders, it's fine for them to be involved in shitcoins since they already know the drill.

They know what will happen later on so they will do their best during the early listing of this hype coin or token then get out with the right timing. As you can see, there are lots of traders winning big playing at these risky coins.

But this is not recommended for newbies so they are the ones who need to only stick with those coins that already backed by a community.

That's true. Considering altcoins have more upside potential, I'd say their reasons for trading altcoins instead of settling for the regular bitcoin 1% - 10% move is justified.  However, they keep doing it wrongly. For instance, some don't have enough trading knowledge. Others, don't even take time out to research about good projects and simply follow the hype. If they take time to do their due diligence, then the story will be different.

Most scam projects don't really make it on par with bitcoin's price rise, similar to what's happening right now. For most instances of bitcoin having a good time for price increase, scam projects can't easily capitalize on the success of bitcoin as they need to get themselves off the ground first and paint a good chart on the markets, else, people won't ride them and would just stick to bitcoin instead. Still, this doesn't stop some people from buying in on these obscure coins and try to make some money, even if all the red flags are present they would still risk it and dig in.

Price trends on cryptocurrencies have changed a lot through the years, and most cryptocurrencies don't correlate or follow bitcoin's price movements anymore. People think that diversity from bitcoin's shadow is a 'good indication' that some cryptocurrencies are maturing, hence making them a viable investment to make some money. In reality, it's the opposite, and most people will be left holding bags while the market makers have already cashed out and are already preparing to make some more money on other scam projects that they might create.

Diversifying assets is still a good strategy in making money today, though don't stray too much from the horde and experiment with shitty coin with shitty markets and you'll be fine.

We have already crossed the Accumulation Zone in the format of an ascending price channel and crossed such a high psychological resistance level of $ 15,000. And at this period, the moment comes when traders want to fix their profits, which can provoke local sales. But I hope that this does not happen, since each of us has a higher framework to achieve.

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.

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.

Bitcoin is not cheap as of posting, we saw its pumping in the past days but of course expect a correction along the road and let's hope that there's no major correction that will break the momentum of bitcoin. We should do right now is to know your target price to buy and sell and if already have profit then its fine to take profit of course but always buy back and this is how you maximize the market and small profit is still a big help, know your priority either to just hold or trade wisely.

I agree that if you want to have some sort of increase of your portfolio and wealth, the best coins to buy are the top rated ones, and not just in rankings but also in peoples mind as well.

As you can see in top 10 coins there are few that doesn't get any hate from people, bitcoin is loved, ethereum is loved, bnb is either loved but if not it is definitely used a lot, these are all coins that you could have without having any worry about it at all, there are of course some other coins that you could invest like that in the top 50 as well, if you go lower you could find decent coins that people do not have any hate towards. So, what you should do is find coins that is highly ranked and not very low in volume but also find the ones that doesn't get too much hate at the same time.

In the current bull run point of view all those scam projects doesn't really matter. If anyone is smart here then they should blindly go for the BTC alone who is making the historical move one more time after the 2017's ATH.

However, also we must keep in mind that this bull run is gonna make huge correction in couple of days due to it's ability to re-run the market capitalisation correction. Due to this, one can get rightest opportunity to enter into the market. I would suggest to keep our fiat ready on the exchanger and hit the market as soon as it goes down.

That's the tradition one must follow and keep the assets managed step by step.

I fell into a lot of traps during 2017 and 2018. I sent many eth to different address to get shit coins. Which their price temporarily move up and now.. Its 0.
Im imagining if someone is just buying some of those shit tokens now.

Hmm.. Thank you.. So many Coins came of thier grave recently due to recent pumps of btc.. Trying to prey the emotional investors.. You are right.