Many got REKT :( - page 6. | Bitcointalksearch.org

boyptc

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Quote from: adaseb on May 22, 2021, 11:43:06 PM

Quote from: boyptc on May 22, 2021, 07:14:22 PM

Worst?

Not that worst though. As you can see the market is still $1.5B in market capitalization which is still quite high. $500B got out and that's a lot to be considered though.

I don't have any exit plan. I'll keep holding until I see bitcoin reaches the sky.

There was like $8B or so in liquidations which was about 750,000 different liquidations. So assuming most people only had 1 position, that is almost a million investors which got liquidated. Some maybe didn't have enough margin in their account at the time to refill and for others they probably ended up losing everything.

Then there are those that bought BTC back at $33K earlier when it was rallying and most likely they never took profit because they were expecting at least $100K bitcoin and they set their stop loss at break-even. Or they got scared when they saw $30K and basically got out at break-even because they don't want a repeat of 2017 where it goes from $20K all the way to $3K.

I have taken a profit earlier than this bull run has peaked and I have thought of the same as theirs.

Just learning the past will really make us do those decisions but to OP as saying this is the worst. I really think that it isn't.

adaseb

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Quote from: boyptc on May 22, 2021, 07:14:22 PM

Worst?

Not that worst though. As you can see the market is still $1.5B in market capitalization which is still quite high. $500B got out and that's a lot to be considered though.

I don't have any exit plan. I'll keep holding until I see bitcoin reaches the sky.

There was like $8B or so in liquidations which was about 750,000 different liquidations. So assuming most people only had 1 position, that is almost a million investors which got liquidated. Some maybe didn't have enough margin in their account at the time to refill and for others they probably ended up losing everything.

Then there are those that bought BTC back at $33K earlier when it was rallying and most likely they never took profit because they were expecting at least $100K bitcoin and they set their stop loss at break-even. Or they got scared when they saw $30K and basically got out at break-even because they don't want a repeat of 2017 where it goes from $20K all the way to $3K.

danherbias07

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Unlucky. It was expected to dip but that was too fast and too deep. Many are affected, that's for sure but many will also recover as you won't even try to sell now. The new focus will be when the next pump will be.
We need some big event or big news that will turn the tides around. Forget about Elon Musk, he won't even try to boost the price thru his tweet anymore and he is also losing followers because of what he did. Merchants should be the next target. If some big company starts spreading news about accepting cryptocurrencies as a payment option then it could pump it back.

janggernaut

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Quote from: andthereyou on May 19, 2021, 09:26:58 PM

Who did an exit strategy before the worst dip?

https://www.google.com/amp/s/btcmanager.com/crypto-whale-3k-btc-58k-3521-btc-market-dip/amp/%3futm_source=onesignal&utm_medium=push&utm_campaign=push%2525notification

That whale did.

Actually we can predict the dump will gonna happen as since dec'20 until Apr'21, bitcoin price always going up. Then we just need to spare some of our money to BUY more when the crash/dip comes like many days ago when bitcoin at $30,000. Many sure got rekt, but others even laughed because they are waiting for this moment to buy some promising coin with cheaper price

boyptc

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Worst?

Not that worst though. As you can see the market is still $1.5B in market capitalization which is still quite high. $500B got out and that's a lot to be considered though.

I don't have any exit plan. I'll keep holding until I see bitcoin reaches the sky.

Lanatsa

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Quote from: JeromeTash on May 22, 2021, 05:47:12 PM

Quote from: DoublerHunter on May 22, 2021, 05:35:27 PM

^ That is a good decision but it is tough to execute because you will never know the market price movement.
Diversification of asset in crypto while the market experiencing a sudden dip is a wise move, in this case, you can buy more when it is too much dumping of the BTC prie or buyback when you think there is a good news pop up and you think BTC price will probably rise again. However, I will never think of having an exit strategy because I can able to hold a much longer time because I know right after this sudden dip there will always opposite reaction and will probably make the price of BTC grew up.

The strategy you are talking about is mostly for spot traders. Though trading futures is more risky, Futures traders don't care about the direction of price movement as they can make money in both directions by longing or shorting while for spot you only make money during an uptrend and wait for the dip. Stop loss is always important in all aspects.

Diversification also works much better in spot trading. This is not necessary when trading futures.

Its another story if we do talk about futures and its true that you can make out money despite on whats the direction it is taking and this is what I see the advantage but we know on how risky future is
and this isn't something that anyone could possibly deal with even with having some experience, even myself cant able to handle out the risk in this area.

So answering on the question if I do able to pull myself before the crash then I can say yes because of some mix of intuition and guts. Even the technicals been showing some uptrend patterns
but I do still doubted that one.

Plus those ruckuses that happening specially with those tweets and other similar sentiments which do give me those doubts and make out appropriate move.

JeromeTash

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Quote from: DoublerHunter on May 22, 2021, 05:35:27 PM

^ That is a good decision but it is tough to execute because you will never know the market price movement.
Diversification of asset in crypto while the market experiencing a sudden dip is a wise move, in this case, you can buy more when it is too much dumping of the BTC prie or buyback when you think there is a good news pop up and you think BTC price will probably rise again. However, I will never think of having an exit strategy because I can able to hold a much longer time because I know right after this sudden dip there will always opposite reaction and will probably make the price of BTC grew up.

The strategy you are talking about is mostly for spot traders. Though trading futures is more risky, Futures traders don't care about the direction of price movement as they can make money in both directions by longing or shorting while for spot you only make money during an uptrend and wait for the dip. Stop loss is always important in all aspects.

Diversification also works much better in spot trading. This is not necessary when trading futures.

DoublerHunter

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Quote from: JeromeTash on May 22, 2021, 05:01:11 PM

Fortunately for my I trade futures strictly. Whenever I notice a change in the trend or a slow-down in the uptrend. I switch from trading Inverse perpetual futures contracts to USDT perpetual futures contracts.

So no matter how deep the market goes, my initial margin never gets affected whether I am shorting or not. I also usually use reasonably tight stop losses

^ That is a good decision but it is tough to execute because you will never know the market price movement.
Diversification of asset in crypto while the market experiencing a sudden dip is a wise move, in this case, you can buy more when it is too much dumping of the BTC prie or buyback when you think there is a good news pop up and you think BTC price will probably rise again. However, I will never think of having an exit strategy because I can able to hold a much longer time because I know right after this sudden dip there will always opposite reaction and will probably make the price of BTC grew up.

JeromeTash

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Fortunately for my I trade futures strictly. Whenever I notice a change in the trend or a slow-down in the uptrend. I switch from trading Inverse perpetual futures contracts to USDT perpetual futures contracts.

So no matter how deep the market goes, my initial margin never gets affected whether I am shorting or not. I also usually use reasonably tight stop losses

andthereyou

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Who did an exit strategy before the worst dip?

Topic: Many got REKT :( - page 6. (Read 762 times)