Topic: How btc price correction make things right. And what you should be aware of. (Read 493 times)

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.

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.

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.

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.

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.

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.

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.

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.

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.

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/

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

bitcoin price moves won't change anything about the scam projects and their pump and dump attempts. if anything the price rise brings in more newbies which practically increases the number of victims these scam projects can have so they can have a higher chance of pumping their shitcoin by selling it to the unaware newcomers and pocket the money.
after all this is basically what happened during 2017 and all the ICO tokens that are mostly dead by now.

You cant stop people not to buy those shit tokens that almost had no value yet to believe that it still undervalued and if they do decide to buy it then thats the time they do hope
that it would really be pumped out soon when them market tends to turn into bullish run. Honestly speaking there are indeed coins which can really shoot up its price in thousand
multipliers which are mostly the most shittiest one and make someone do hell of a rich guy if that happen.Chances for that kind of hit? Then its really much more lesser compared if you do just
consider on putting up your money into those top altcoins.,However, i do fully disagree with those kind of lines when it comes to some safe bets.

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.

Apart from new traders loosing funds, which many don't like about trading with btc. The btc price correction makes things right by opening the ass of old scam projects that were able to make thier token price reach a high level due to the previous bull run. Now, most of these scam project are claiming that the price of thier coin or token is currently in the deep and its be best time to buy.  
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.
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.