Never catch a falling knive | Bitcointalksearch.org

Eduarop

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Quote from: Harlot on March 10, 2021, 04:26:07 PM

Quote from: tygeade on March 10, 2021, 11:51:18 AM

It was always obvious that people who think that bitcoin is crashing a lot and sold their coins would support others to sell as well, that has always been the case in crypto, if someone is losing money on it, they wanted others to lose on it as well. Practically that is not the case here, we have made a decent return from it but the reality is that just because we made a good return now doesn't mean that they have learned their lesson, just watch and see how people will panic sell and tell people to sell or at least not buy when the price is going low once again, and watch them regret not buying when it increases a lot.
If you didn't listen to OP and bought bitcoin when he told you not to do that, you would have been in profit right now, over 10% profit at that, so do not care anyone who says anything bad about bitcoin, always buy it as much as you can because in the end you will profit.

This post was actually created during Feb 23 where Bitcoin dropped from 54,000 to 45,000$ and then continue dropping to 43,000$ until it recovered in March 05 so this time where Bitcoin is still on a rally upwards I wouldn't say that "don't catch a falling knife" is something that the newbies should be following right now. They actually have missed a good opportunity to enter the market or add some more position just for because a lot of people though the price rally of Bitcoin was over when in fact it was not.

How things have changed in last three weeks. Those traders who were trying to “catch that falling knife” in February are trying to catch new BTC’s All-Time-High in March. BTC really can hurt like a knife but it can to please by good grains also.

sana54210

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Quote from: tygeade on March 12, 2021, 09:30:12 AM

Quote from: Kelvinid on March 09, 2021, 06:24:54 PM

We usually putting newbies as an example but I think, not only them doing this because even those who have been in the market for so long they still doing the same. It is to understand how risky is this crypto-investment, FOMO, FUds, these people seem to be easy to twist their mind and think negatively.

Some newbies have a better understanding of trading and possess more skills than an experienced trader and that is just by default. Some people are rigid and no market FUD can shake them while some despite being experienced will doubt their asset holdings just because there is some FUD being spread around the internet.

Those type of "experienced" traders should not be traders at all, that doesn't make sense. I have seen people who are amazing at math, like seriously they can make calculations faster than my calculator to a certain point, and they know what they are looking at as well, I have been "trading" for 8 years now, and I can easily say that if that person started trading today, he would be better than me in a month.

This is a potential for him, but proof that I should not be trading, thankfully I just trade based on whatever I feel and almost all my money is just holding crypto, I do not trade them, just bought them and holding them, rest is a small tiny amount (400 bucks today) that I trade and sometimes it grows bigger and sometimes it gets smaller, last I had to spend money on that was when it was all in erc20 and there was a lot of money required to get it out, and I did that thankfully, but I am not a good trader at all.

shushu9977

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Yes, this is good for investment, because if anyone buys in high price, then it will be against his investment. So, be keep patience and wait for our bitcoin price as you want. But, in my prediction, at the end of year, the price of bitcoin will reach 80k/90k.

tygeade

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Quote from: Kelvinid on March 09, 2021, 06:24:54 PM

We usually putting newbies as an example but I think, not only them doing this because even those who have been in the market for so long they still doing the same. It is to understand how risky is this crypto-investment, FOMO, FUds, these people seem to be easy to twist their mind and think negatively.

Some newbies have a better understanding of trading and possess more skills than an experienced trader and that is just by default. Some people are rigid and no market FUD can shake them while some despite being experienced will doubt their asset holdings just because there is some FUD being spread around the internet.

Quote from: Kelvinid on March 09, 2021, 06:24:54 PM

Many crypto investors never had the knowledge, they are investing in Bitcoin/altcoins is because someone tells them and it is not to wonder why they will make wrong decisions.

Most of the large scale investors put their money into an asset when they understand the value of the asset and its current market price. They analyze how the value of bitcoin looks in the distant future and then look at the current market price, if there is high variance, they will usually invest in such assets.

For example, most of the investors started realizing years ago that land/houses are going be to more valuable in coming years as population jumps and hence real estate was high value.

gaston castano

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and now bitcoin is back up and ready to go to a new ath, believe that this year maybe btc will touch 100k $ because the demand and positive news about bitcoin is very high we can see an explosion like 2017 again maybe.
where btc increased by more than 10x from the beginning of the year to the end of the year.

Harlot

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Quote from: tygeade on March 10, 2021, 11:51:18 AM

It was always obvious that people who think that bitcoin is crashing a lot and sold their coins would support others to sell as well, that has always been the case in crypto, if someone is losing money on it, they wanted others to lose on it as well. Practically that is not the case here, we have made a decent return from it but the reality is that just because we made a good return now doesn't mean that they have learned their lesson, just watch and see how people will panic sell and tell people to sell or at least not buy when the price is going low once again, and watch them regret not buying when it increases a lot.

If you didn't listen to OP and bought bitcoin when he told you not to do that, you would have been in profit right now, over 10% profit at that, so do not care anyone who says anything bad about bitcoin, always buy it as much as you can because in the end you will profit.

This post was actually created during Feb 23 where Bitcoin dropped from 54,000 to 45,000$ and then continue dropping to 43,000$ until it recovered in March 05 so this time where Bitcoin is still on a rally upwards I wouldn't say that "don't catch a falling knife" is something that the newbies should be following right now. They actually have missed a good opportunity to enter the market or add some more position just for because a lot of people though the price rally of Bitcoin was over when in fact it was not.

tygeade

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It was always obvious that people who think that bitcoin is crashing a lot and sold their coins would support others to sell as well, that has always been the case in crypto, if someone is losing money on it, they wanted others to lose on it as well. Practically that is not the case here, we have made a decent return from it but the reality is that just because we made a good return now doesn't mean that they have learned their lesson, just watch and see how people will panic sell and tell people to sell or at least not buy when the price is going low once again, and watch them regret not buying when it increases a lot.

If you didn't listen to OP and bought bitcoin when he told you not to do that, you would have been in profit right now, over 10% profit at that, so do not care anyone who says anything bad about bitcoin, always buy it as much as you can because in the end you will profit.

justdimin

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Quote from: ?? on ??

Well, a lot of newbie traders would like to argue with you. They want to jump onto the last carriage of the departing train and see no variants but to be in a furry and to take some loans or to start mining immediately even if it is mining from an old-old notepads without appropriate equipment.

Rightly said, what makes investing in Bitcoins a lot different than catching a falling knife is that a falling knife is coming down and destined to hit the bottom without any chances of ever going back up while Bitcoin has a tendency to go up and down more than 100 times within a day itself and this logic doesn't make sense in the bitcoin market.

We must understand that not all the statements made are correct in every situation and market. The king of investments and the stock market, Warren Buffet once said that Bitcoin is useless and has no value and even made some vague comments against Bitcoin. Now looking back, I am sure he sounds like a fool but actually he was making comments based on his knowledge but without respecting that he doesn't have all the knowledge in the world himself and should not criticize Bitcoin without actually understanding it.

Kelvinid

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Quote from: Yatsan on March 09, 2021, 05:38:36 PM

There are certain risks and danger of course upon catching a falling knife and mostly those who fall into this are barely newbies for the attempt on grabbing what they see as opportunity ends up on having the contrast that is why they ate gaining losses. But sometimes even if they tend to catch such falling knife of the market, still they are being patient to wait up until price recovers but still there is no assurance on risking your funds into such but you will be lucky once it became favorable to you. Patience is really a must as well as thorough observation on the market movement to see if you will be entering or wait up a little bit more.

We usually putting newbies as an example but I think, not only them doing this because even those who have been in the market for so long they still doing the same. It is to understand how risky is this crypto-investment, FOMO, FUds, these people seem to be easy to twist their mind and think negatively.

But anyway, not all are here in crypto understand the situation they face about. Many crypto investors never had the knowledge, they are investing in Bitcoin/altcoins is because someone tells them and it is not to wonder why they will make wrong decisions.

Fatunad

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Quote from: MiningBattalion on March 09, 2021, 09:04:10 AM

Quote from: ?? on ??

Well, a lot of newbie traders would like to argue with you. They want to jump onto the last carriage of the departing train and see no variants but to be in a furry and to take some loans or to start mining immediately even if it is mining from an old-old notepads without appropriate equipment.

A falling knife is a colloquial term for a rapid drop in the price or value of a security. The term is commonly used in phrases like,Falling knife refers to a sharp drop, but there is no specific magnitude or duration to the drop before it constitutes a falling knife.A falling knife is generally used as a caution not to jump into a stock or other asset during a drop.Moreover, even buy and hold investors can use a falling knife as a buy opportunity provided they have a fundamental case for owning the stock.

Some might be seeing this falling knife as a threat or a warning but actually this is really an opportunity for someone to take but we know that there is always accompanied with risk
You wouldnt know on how deep would be the fall is and there is no specific percentage for a certain situation to be called as falling knife as you mentioned this is why its up to someone
on what are the decisions he would be making on that particular time.Some do panic sell out without minding the opportunity that they can actually buyback for them to recover up
the loss somehow.Mistakes are common but we shouldnt limit out ourselves on taking out chances that can really help us out.

Yatsan

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There are certain risks and danger of course upon catching a falling knife and mostly those who fall into this are barely newbies for the attempt on grabbing what they see as opportunity ends up on having the contrast that is why they ate gaining losses. But sometimes even if they tend to catch such falling knife of the market, still they are being patient to wait up until price recovers but still there is no assurance on risking your funds into such but you will be lucky once it became favorable to you. Patience is really a must as well as thorough observation on the market movement to see if you will be entering or wait up a little bit more.

MiningBattalion

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Quote from: ?? on ??

Well, a lot of newbie traders would like to argue with you. They want to jump onto the last carriage of the departing train and see no variants but to be in a furry and to take some loans or to start mining immediately even if it is mining from an old-old notepads without appropriate equipment.

A falling knife is a colloquial term for a rapid drop in the price or value of a security. The term is commonly used in phrases like,Falling knife refers to a sharp drop, but there is no specific magnitude or duration to the drop before it constitutes a falling knife.A falling knife is generally used as a caution not to jump into a stock or other asset during a drop.Moreover, even buy and hold investors can use a falling knife as a buy opportunity provided they have a fundamental case for owning the stock.

fahmimajannat

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Yeah its too dangerous. When a market crashes never try to enter the market.
Wait and observe the market so that you can hit the market at the right time.
When market starts to going up again than enter the market.
So that risk level stays in habit able zone.
Don't get emotional while market falls.
Try to enter when market starts to rise.

darewaller

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Quote from: DJANAS on February 27, 2021, 10:05:49 AM

i don't understood what do you mean, but i think that you are trying to say that we should not buy bitcoin at this time because of the red Candel

Yes, he means when the price is falling don't buy BTC because the price might go further down in coming time. I kind of agree with him in general but exceptionally for BTC I would never agree on such thoughts because BTC has shown how many times it goes down and then grows again.

Quote from: virasog on February 27, 2021, 09:40:36 PM

Sometimes catching a falling knife works and can give good profit. Let suppose a coin is dumping fast and you bought it in the middle of the dump. Very often we see that after the straight dump a big wick is created and price bounce back. In that case, if the price bounce back, we can take profits. However if the price keep dumping, then we would be in a loss.

I don't think many altcoins are able to achieve that because once they start falling, almost no one wants to hold those coins. Like recently when SEC issues were known to traders they immediately sold XRP and the price went as low as $0.2 or so and it managed to recover because of the humongous market cap but a small coin won't be able to replicate that.

South Park

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Quote from: virasog on February 27, 2021, 09:40:36 PM

Sometimes catching a falling knife works and can give good profit. Let suppose a coin is dumping fast and you bought it in the middle of the dump. Very often we see that after the straight dump a big wick is created and price bounce back. In that case, if the price bounce back, we can take profits. However if the price keep dumping, then we would be in a loss.

Even if it s true I think it makes sense to not try, there are market conditions in which the best you can do is to simply to not involve yourself, the cryptocurrency market is famous for its volatility but markets in general are even more volatile when they go down, so while you think you bought at the bottom the bottom could still be very far away and then you lose a lot of money when you had no expectations of this happening, it is better to just wait and see if the market becomes stable, if it does then you can buy knowing the market will not crash as much anymore.

redsun114

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Quote from: paxmao on February 23, 2021, 04:13:23 AM

If you are not familiar with this term, just look at the bitcoin price as now. There it goes!

Sometimes you don’t know when a knife is falling lol Grin

the knife might not really be falling; there are times the market will drop a bit and people will think that’s it, but in a short time it will start going up.

I can remember what happened around $40,000 price, most of us believed that that’s the limit when it got there and started falling to $30,000 and dropped that low, and within a short while it moved again back up and passed through the $40,000 rate to $50,000. So, I guess this is a magic knife lol. But anyway, you’re right, it’s usually best to invest at a time when the market is cool, because a during a bull market you can’t tell when it will fall.

FanEagle

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Quote from: lienfaye on February 27, 2021, 02:10:08 AM

Well it will surely hurt if you catch the knife while its falling but there's also a saying "no pain, no gain" so I think it depends on your belief and how you look on bitcoin.

We reach another ath, but dont you believe that we can surpass it in the future? Its risky to buy at high price but if you're planning to hold it for long period because you believe that there's so much more to look forward then I think its fine, its not too late for new investors.

Although its really true that dont buy at peak price but just like I said it depends on investor's belief. Thats why its a must that each of us understand the movement and has knowledge about crypto as a whole.

Don't buy at peak and don't buy while it is going down are different things. If you bought at 60k, that is not ideal and that is of course not a good price to buy when you look at it now, although many people said the same thing at 30k as well so I can't say it was a bad decision at the time neither, but if you bought at 45k when it dropped from 60k that is a good one, that is not a bad situation and I think it is really a good idea to buy when it dropped over 25% drop.

Many people that got in during 2017 learned that a drop doesn't mean a bad thing, it means a good thing will about to happen and you have a discounted bitcoin price right now and you could get more money eventually from it. I have been around even before the 2014 increase so I can tell you that all decreases are followed by a big increase and that is why I think it should be very easy for you to get in when it is going down and waiting for the price to go up.

virasog

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Sometimes catching a falling knife works and can give good profit. Let suppose a coin is dumping fast and you bought it in the middle of the dump. Very often we see that after the straight dump a big wick is created and price bounce back. In that case, if the price bounce back, we can take profits. However if the price keep dumping, then we would be in a loss.

DJANAS

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i don't understood what do you mean, but i think that you are trying to say that we should not buy bitcoin at this time because of the red Candel

pawanjain

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Quote from: paxmao on February 23, 2021, 04:13:23 AM

If you are not familiar with this term, just look at the bitcoin price as now. There it goes!

Wasn't this expected ? Bitcoin has been going all the way up breaking the ATH almost every week since a few months.
The rally has was seemingly good with an overwhelming experience. It was about time we face a correction to have a sustainable growth.
And here we go, this is a decent correction although I expected bitcoin to fall back little more.
But yeah what you said is also true. We should never react against the market otherwise all our money will be gone.
Let the correction settle and give us the opportunity to buy more at a cheaper price.

so98nn

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Quote from: paxmao on February 23, 2021, 04:13:23 AM

If you are not familiar with this term, just look at the bitcoin price as now. There it goes!

Modern problems need modern solutions!

If you think bitcoin is acting as knife right now then wear gloves to catch it! Cheesy

If you miss this opportunity to invest then you will blame your past in the upcoming future. This is what happened with all the people who said the same thrasher about the bitcoin few years ago.

Why to strangled in such thinking if we know there are investors like Elon into it.

Okay fine he may pull out today but after some years another investor would jump in. Just stick to it and keep digging profits in such times. Cheesy

carlisle1

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Quote from: FIFA worldcup on February 27, 2021, 07:38:29 AM

Quote from: paxmao on February 23, 2021, 04:13:23 AM

If you are not familiar with this term, just look at the bitcoin price as now. There it goes!

This will explain a bit more on it.

It's tough once you caught in the middle of this since you are really going to be trapped and you have to wait for much longer
or give it up and try to cut your losses.

Quote from: crzy on February 27, 2021, 08:41:40 AM

Quote from: paxmao on February 23, 2021, 04:13:23 AM

If you are not familiar with this term, just look at the bitcoin price as now. There it goes!

That's right, its too risky to catch the falling market but if you're brave enough, you probably made a lot of good profit right now as the market recovers. Cryptomarket is too volatile and it can change the trend easily, it might be too risky to buy on the downtrend but there's still hope on that, just stay focus and know what you're doing always, don't just get panic easily.

If you are a risk taker and you have that nerve to handle the situation, the price of your braveness
will be much compensated once the market bounce back much earlier. It's really hard but it also
depends from how you understand the market and how you analyze your next steps.

SquallLeonhart

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Quote from: Dave1 on February 26, 2021, 07:31:17 AM

as market that is very volatile it's really hard to predict and it's not even accurate. But we can based our speculations on reading the trends. Currently, the price of bitcoin goes down again, whether you like to catch a falling knife is up to us. But we have seen the correction last month and witnessed how bitcoin rebounded, just all I'm saying here, read between the lines.

Yeah, that is exactly what I am thinking as well but people are overreacting this time around that is the difference. Normally the deal is there are corrections and they always happen and there is really nothing shocking about a correction, just like you said there was a huge drop and we recovered nearly 2x from the bottom of that period for example.

That is the case for right now as well 100% I believe that however when there are more and more new people, those people do not really make any sense when they are trading and they just get out, now when it happened at 20k it wasn't a big deal because there wasn't that many new people, when it happened in 40k it dropped a bit more that time around, and that wasn't really a big deal neither even though it was a bigger drop we felt fine, now that we reached nearly at 60k we reached to a level where the drop became even bigger.

crzy

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Quote from: paxmao on February 23, 2021, 04:13:23 AM

If you are not familiar with this term, just look at the bitcoin price as now. There it goes!

That's right, its too risky to catch the falling market but if you're brave enough, you probably made a lot of good profit right now as the market recovers. Cryptomarket is too volatile and it can change the trend easily, it might be too risky to buy on the downtrend but there's still hope on that, just stay focus and know what you're doing always, don't just get panic easily.

FIFA worldcup

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Quote from: paxmao on February 23, 2021, 04:13:23 AM

If you are not familiar with this term, just look at the bitcoin price as now. There it goes!

This will explain a bit more on it.

el kaka22

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Quote from: geegaw on February 25, 2021, 04:10:02 AM

Only a few traders know what they are doing and what they are going to face in this market, they know methods of surfing and cutting losses whereas the vast majority of others just rushed through this game without analysis, typically the trend towards trading leverage, a lot of people here love to take hold of this falling knife and liquidation messages continued to appear. Once bitcoin has crashed, it is best to get out of this spiral, don't try to calculate the recovery point, we can't know until we lose too much

Honestly I have been here for nearly over half a decade and I still have no clue what's going on, I was here before the 2014 peak of 1400 dollars for example, and I have seen so many peaks and yet I am still not rich. Basically trading is an art, and only a decent artist can make a profit from it, there are so many people who have been here since I have been and made zero money, whereas there have been some people who have been here for the past month and made a million dollars profit.

I have seen a guy who started futures trading just on September with 70k dollars that owns over a million dollars now, obviously it was a great time to get in but still I could have done that too, maybe not with 70k since I do not have that but I could have turned 700 to 10k at least, but I couldn't because I don't know how. This is why only good traders will make money, doesn't matter when you start.

lienfaye

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Quote from: paxmao on February 23, 2021, 04:13:23 AM

If you are not familiar with this term, just look at the bitcoin price as now. There it goes!

Well it will surely hurt if you catch the knife while its falling but there's also a saying "no pain, no gain" so I think it depends on your belief and how you look on bitcoin.

We reach another ath, but dont you believe that we can surpass it in the future? Its risky to buy at high price but if you're planning to hold it for long period because you believe that there's so much more to look forward then I think its fine, its not too late for new investors.

Although its really true that dont buy at peak price but just like I said it depends on investor's belief. Thats why its a must that each of us understand the movement and has knowledge about crypto as a whole.

electronicash

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i turned by coins to usdt so I'm hoping it will drop more to $40k. the falling knife is still falling, the only coin that rises so far is cardano but i think not for long as well. it will also fall after its pump. it's too much of a growth already, it can't be that perfect shoot to the top without dropping. and just like btc, it has to drop at little further. it won't be too much to asks for $40k, the bounce will be much higher.

ethereumhunter

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Quote from: MIner1448 on February 27, 2021, 12:16:27 AM

Quote from: paxmao on February 23, 2021, 04:13:23 AM

If you are not familiar with this term, just look at the bitcoin price as now. There it goes!

Now, in general, it is very dangerous to enter the market, at least I have not yet seen such a very volatile and unpredictable market, I put the market in short and go up, I put in the long market goes down, even if the market has broken the bottom and put a long, then the bottom breaks even more market ... At the moment I want to wait out this speculative volatility.

Waiting for a while can be a good decision because the market is unpredictable the movements. Just hope that everything will be back to good movements to enter the market and try to make a profit. But this time, I see there is a chance to buy low and wait for a while because sometimes, the price can increase for a little price to help you get profit from the coin. Maybe you can take a look at bitcoin movements, and if you are not chasing the big profit, I think you can get a small profit while you can repeat the buy low and sell high.

MIner1448

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Quote from: paxmao on February 23, 2021, 04:13:23 AM

If you are not familiar with this term, just look at the bitcoin price as now. There it goes!

Now, in general, it is very dangerous to enter the market, at least I have not yet seen such a very volatile and unpredictable market, I put the market in short and go up, I put in the long market goes down, even if the market has broken the bottom and put a long, then the bottom breaks even more market ... At the moment I want to wait out this speculative volatility.

South Park

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Quote from: FinneysTrueVision on February 23, 2021, 06:56:41 PM

That saying doesn't make a lot of sense when it comes to trading because you can never predict the future price with absolute certainty. If I see that the price is way down from where it was just a few days ago then to me this looks like a good opportunity to buy more. The overall trend is still upwards so even if the price continues to drop for a little while I am sure that I will eventually make a profit.

It makes sense, it just that the circumstances in which the advise makes sense do not present themselves very frequently. Most of the time when you buy an asset like bitcoin that is going down you will benefit from it as we see a rebound on the price and you will make profits that way, this is just basically a counter trading strategy, but as we know trends can be very strong in this market and if you buy and use leverage when the price is going down and we see a crash instead of a correction you can be ruined in a matter of hours if the market keeps going down.

bittraffic

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Quote from: danherbias07 on February 26, 2021, 10:48:32 AM

And its going back.
I think the knife already hit the floor. Grin

But damn, that was really scary. I thought that the dump will never end and will go back to a price that no one expected.
I bet Elon Musk will just tweet a face palm emoji when that happens.

It's not over yet. The best TA I've seen so far was the ones telling us that $42k is the floor. We may not or we may hit that floor but until it didn't break $50k and the $58k yet the correction could suddenly change the outcome of your trade and thus the start of bearish market.

Elon could be taking part in this correction actually. He is also an investor and taking profit is not bad at all.

Becky666

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Quote from: paxmao on February 23, 2021, 04:13:23 AM

If you are not familiar with this term, just look at the bitcoin price as now. There it goes!

Hmmm, but unfortunately there will be those who will still catch this falling knife by whales, the current market was manipulated by the same whales that did this logic back in 2017, but this time we hope that these whales goes up there and rescues this falling knife from this danger. Currently, the bitcoin market isn't a going ares for purchase until the dust settle down and the whole market make u-turn.

Webetcoins

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Quote from: palle11 on February 23, 2021, 06:31:57 AM

This is a true advise. Catching a falling knife can make you a slaughtered goat and leaving you there bleeding just as the market is bleeding now. Bitcoin is on high fluctuation at the time, it is selling at $46,285/777, from last week $56k. This is blood bath at this time but is normal if you also follow the market.

Indeed a bad time to invest when the market is going down and if even the price was 100k or 10k I wouldn't be buying any coins because I already have enough with me and I don't have the money to buy more while also have enough to hodl what I actually have with myself. These market ups and downs have stopped bothering me since a while and I have learned to remain calm when it is plummeting down or ascending up.

Quote from: boyptc on February 23, 2021, 11:27:30 AM

The saying is right but if you know what you're doing, you're not catching the knives but you're catching those cheap bitcoins this time.

It is always a war between investors about what is the correct time to invest, during the down time or when the asset is flying high. I won't take any sides but from my experience I would say let the bleeding stop before investing and similarly let the bull run cool off before selling.

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And its going back.
I think the knife already hit the floor. Grin

But damn, that was really scary. I thought that the dump will never end and will go back to a price that no one expected.
I bet Elon Musk will just tweet a face palm emoji when that happens.

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Quote from: taufik123 on February 23, 2021, 07:09:05 PM

when the price goes down and the strongest support can be destroyed, then catching the falling knife at the right time (next support) is best, but you have to use gloves (don't ALL in) to back up when the price continues to fall.
Prices will not continue to fall, but when there is a downtrend the price will continue to be played and will continue to fall. we should be able to read where the final price will stop by analyzing it. Money Management will be needed in these circumstances.

People do not see those support lines, they just see price going down and they think they should all go out right away, I have seen people sell literally right at the support line, by logic if the price is at the support line, put it a bit under that level for stop loss and if it breaks under it, you will get out and price will freefall to next support line, but if it doesn't break under it, at least you won't be selling at the bottom, that is the worst thing you can do, there are people who sold at 45k for example, why would you do that, it bounced right back up after that.

Long story short people have no idea how to use indicators and do not know what to look at, it would be impossible to lose money this easily if people knew where to look at, even the most veterans lose money but they do not lose money this way, they definitely see these easily.

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Quote from: paxmao on February 23, 2021, 04:13:23 AM

If you are not familiar with this term, just look at the bitcoin price as now. There it goes!

*I wonder why you can equate the sharpness of a knife with the price of Bitcoin...
I understand what you mean is a market correction. now I remember you back, last year the lowest Bitcoin price was around $ 4k more and if we use the parable you made then we conclude that anyone who buys Bitcoin at that price is a fool?

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Quote from: cheezcarls on February 26, 2021, 07:16:46 AM

Quote from: paxmao on February 23, 2021, 04:13:23 AM

If you are not familiar with this term, just look at the bitcoin price as now. There it goes!

This reminds of a meme that I’ve saw earlier on my Facebook feed. It says buy the dip every time it breaks support level, just to summarize. The problem is that there is no perfect analysis on what would be the “new” support level after Bitcoin pulled back like this one. The market is so unpredictable, so even the so-called analysts and experts can’t predict it well and it’s not accurate.

Yes, as market that is very volatile it's really hard to predict and it's not even accurate. But we can based our speculations on reading the trends. Currently, the price of bitcoin goes down again, whether you like to catch a falling knife is up to us. But we have seen the correction last month and witnessed how bitcoin rebounded, just all I'm saying here, read between the lines.

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Quote from: paxmao on February 23, 2021, 04:13:23 AM

If you are not familiar with this term, just look at the bitcoin price as now. There it goes!

This reminds of a meme that I’ve saw earlier on my Facebook feed. It says buy the dip every time it breaks support level, just to summarize. The problem is that there is no perfect analysis on what would be the “new” support level after Bitcoin pulled back like this one. The market is so unpredictable, so even the so-called analysts and experts can’t predict it well and it’s not accurate.

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if they are not familiar of this term they will need to look for its real definition in the internet and not by looking at btc because btc has its own definition .
btc is falling but its not risky to catch it because the fall can stop and an rise will take over .
are we going to a miss a chance again ? no im not because im sick and tired of missing a btc train .
i was going to say that catching a falling knife is risky but not rewarding but i remember that there are circus workers that are doing that to earn .

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Quote from: paxmao on February 23, 2021, 04:13:23 AM

If you are not familiar with this term, just look at the bitcoin price as now. There it goes!

I think you have to be very specific when it concerns falling knive. Because in context, a falling knive means a dip in price of crypto currency tokens. Also, the core reason why you should not buy a falling knive is to ensure not to buy a dipped token that would dip more and more in few days.

Instead you buy the falling knive when its at the bottom; that way you are assured to some extents. OP did not indicate if this applies to spot trading or futures; if you trade futures; you get liquidated when the knives fall; your stop loss could be our saving grace.

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i think its normal that bitcoin may be in dip right now. bitcoin has been pumping for the last 2 weeks and right now bitcoin is slowly going down. if bitcoin price will go down in these coming days or weeks maybe its time to invest in the dip. after the fall there is a comeback, surely bitcoin will still be pumping again and it will reach $60000.

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As everyone has already said, if you know how the market works and you know what you are doing then you can catch that knife without the worries of a metaphorical injury. It will bounce back eventually and I think that the dip is a good opportunity/time to buy more bitcoin than you could get when the prices were still climbing.

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Quote from: paxmao on February 23, 2021, 04:13:23 AM

If you are not familiar with this term, just look at the bitcoin price as now. There it goes!

Not unless you know where the market is heading and you believe that this is just a short correction which I think traders can still make money. Though, its hard to trade on a down trend many are still taking risk because they know what they are doing and they didn’t panic at all. Bitcoin try to stay above $50k today, but it failed to do so and maybe bear trend is coming.

Only a few traders know what they are doing and what they are going to face in this market, they know methods of surfing and cutting losses whereas the vast majority of others just rushed through this game without analysis, typically the trend towards trading leverage, a lot of people here love to take hold of this falling knife and liquidation messages continued to appear. Once bitcoin has crashed, it is best to get out of this spiral, don't try to calculate the recovery point, we can't know until we lose too much

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Quote from: paxmao on February 23, 2021, 04:13:23 AM

If you are not familiar with this term, just look at the bitcoin price as now. There it goes!

A falling knife is dangerous only when people don't know where is the support and resistance and don't have idea how long they are willing to let their orders and positions open up. If they participate in the market, opens a position and are not willing to exit with a draw, they will highly exit at big loss at bottoms. At the price around bottom where they should hold tightly, they exit the market.

Bitcoin is in the bull run and corrections are healthy for higher levels to be reached out. Don't worry, it is not a falling knife that you will see more often in bear market.

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Quote from: taufik123 on February 24, 2021, 01:23:26 PM

Quote from: Xinarae* on February 24, 2021, 08:55:42 AM

Good traders focus not only on Bitcoin, but a few coins with good potential and ongoing development. For example, Ethereum, BNB and several other coins that are in the top 10 of CMC.

Bitcoin is only the main price reference because Bitcoin movement affects all altcoins. Bitcoin is more promising, but there should be some coin backups to choose from for other benefits, when Bitcoin is sideways.

Diversifying a capital and not investing in a one basket alone was already a common tactics of a business investment even in a real business and this was applicable in any areas of business and investment. Here we have now a price correction a lower than almost 3% from the last ATH of bitcoin. A sharp knife falling indeed, and yeah if we can't decided wisely how we will gonna respond to it, we will ending up hurting ourselves by wrong
catching up or pickingg up of the knife.

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Quote from: taufik123 on February 24, 2021, 01:23:26 PM

Quote from: Xinarae* on February 24, 2021, 08:55:42 AM

Not all market conditions are the same for investing to be an investor you have to try to understand the market signals. Good traders prefer to invest in bitcoin but do not despair if the price of this currency goes down, they can solve the problem by waiting patiently in the end if the price of the currency continues to fall then this is the best time to invest it is not possible to make more profit in small quantities. That is why no knife injury can harm traders understand the market by analyzing it properly.

Good traders focus not only on Bitcoin, but a few coins with good potential and ongoing development. For example, Ethereum, BNB and several other coins that are in the top 10 of CMC.

Bitcoin is only the main price reference because Bitcoin movement affects all altcoins. Bitcoin is more promising, but there should be some coin backups to choose from for other benefits, when Bitcoin is sideways.

Diversify as much as you can if you do able to do so and never just rely on one source of income or profit because it is much more ideal if you do really have some other way on making profit
without the need of stalling or simply just wait for some opportunity for the market to move.When you do get involved into this market then never ever remove into your mind
about the probabilities of crashes and pumps because this had been a typical thing that can happen on this place.There are things that could be learn basing off on your own
experience.

Catching falling prices? You can make some average costing in forex terms but this one would definitely needing some deep reserves aside.

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Quote from: el kaka22 on February 23, 2021, 01:51:12 PM

~

I remember that day. It was insane actually for Bitcoin to even go below 6k. Back then as well in 2018, I believe it stabilized for a while in 7k then crashed as well
Well I guess many could still buy right now cause why not. Maybe don't buy instantly from just a sharp drop but when it reaches the floor, there's surely a reason to buy at least a bit now

.

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Quote from: Xinarae* on February 24, 2021, 08:55:42 AM

Not all market conditions are the same for investing to be an investor you have to try to understand the market signals. Good traders prefer to invest in bitcoin but do not despair if the price of this currency goes down, they can solve the problem by waiting patiently in the end if the price of the currency continues to fall then this is the best time to invest it is not possible to make more profit in small quantities. That is why no knife injury can harm traders understand the market by analyzing it properly.

Good traders focus not only on Bitcoin, but a few coins with good potential and ongoing development. For example, Ethereum, BNB and several other coins that are in the top 10 of CMC.

Bitcoin is only the main price reference because Bitcoin movement affects all altcoins. Bitcoin is more promising, but there should be some coin backups to choose from for other benefits, when Bitcoin is sideways.

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Not all market conditions are the same for investing to be an investor you have to try to understand the market signals. Good traders prefer to invest in bitcoin but do not despair if the price of this currency goes down, they can solve the problem by waiting patiently in the end if the price of the currency continues to fall then this is the best time to invest it is not possible to make more profit in small quantities. That is why no knife injury can harm traders understand the market by analyzing it properly.

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Quote from: paxmao on February 23, 2021, 04:13:23 AM

If you are not familiar with this term, just look at the bitcoin price as now. There it goes!

Some of them are making it advantage because they're waiting for the price to be dump and giving them another chance to purchase bitcoin so they can invest or use it into another investment or trading, maybe those who invest at first thinking bull run will never stop why? Because too many news from social media than bitcoin will never fall and people are keep investing in it and those companies who already put their profit into bitcoin seem nices but when it comes to this they can easily lose profit into a second I must say that this kind of situation there are advantage and disadvantages.

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I like the way the opening post provides advice, but the term only applies to traders. Because smart traders will not rush to buy Bitcoin. Have to wait
for the Bitcoin price to get really low, to make sure they can get the knife on the floor. So as not to get hurt when taking the knife. For me now deciding
to become an investor, the term is not appropriate. Because investors do not have a problem buying Bitcoin at any price, the most important thing is
to be patient with holding Bitcoin until it reaches the sell target.

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Quote from: paxmao on February 23, 2021, 04:13:23 AM

If you are not familiar with this term, just look at the bitcoin price as now. There it goes!

I must say I wasn't aware but I should also say that despite liking it, I won't agree to it in the case of Bitcoins. Imagine replacing the world knife by gold would give a whole new meaning and bitcoin has shown in past that it has that tendency to rise with double the speed it fell and reach even higher limits than ever before.

Yes, if we were talking about stocks market, I might have agreed with the saying and keep in my mind for future but this doesn't just apply here I think. The same might have been whispered into the ears of investors last year around the same time as now and people would have dumped their coins for awfully low value and never purchased again. Those who actually had the courage to catch the falling knife, are able to also enjoy the rewards now.

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Quote from: FinneysTrueVision on February 23, 2021, 06:56:41 PM

That saying doesn't make a lot of sense when it comes to trading because you can never predict the future price with absolute certainty. If I see that the price is way down from where it was just a few days ago then to me this looks like a good opportunity to buy more. The overall trend is still upwards so even if the price continues to drop for a little while I am sure that I will eventually make a profit.

Well said..
Shorting the Bitcoin is a stupid move...
Its like going short on gold...
When overall gold has always been on the bull run irrespective....

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when the price goes down and the strongest support can be destroyed, then catching the falling knife at the right time (next support) is best, but you have to use gloves (don't ALL in) to back up when the price continues to fall.
Prices will not continue to fall, but when there is a downtrend the price will continue to be played and will continue to fall. we should be able to read where the final price will stop by analyzing it. Money Management will be needed in these circumstances.

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That saying doesn't make a lot of sense when it comes to trading because you can never predict the future price with absolute certainty. If I see that the price is way down from where it was just a few days ago then to me this looks like a good opportunity to buy more. The overall trend is still upwards so even if the price continues to drop for a little while I am sure that I will eventually make a profit.

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I don't see much of a issue here. There was bound to be a correction at some point. A little dump and FOMO is already sweeping the market. No more talk of $100k...the crypto space is not for the weak

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Quote from: DarkDays on February 23, 2021, 05:06:11 PM

Quote from: BITCOIN4X on February 23, 2021, 03:42:57 PM

I didn't expect that today I will see the crypto market collapse so quickly and have made the market cap drop more than 15% based on CMC as I write. The altcoin average was affected by the decline in the price of bitcoin which is currently trading at a price of $46,700+ and I've seen it fall. I don't think 2018's history is being reborn today which might be considered a sign the pumping period has ended. I am sure the market will return to normal and the market capitalization will rise again.

I agree. I like to stay positive against today's market horror which for some this was to be expected. Looking at the percentage drop, relatively speaking this drop is only erasing the gains from the past 1 week, which to be fair was all too fast. This is just the panic sellers getting out while they can.

I believe this is not the end, but a normal correction which can last for 1 week or so, before seeing proper recovery.

People who arent get used to this market will definitely saying that this isnt right but for those who had already some experience then would see that this would be a typical stuff to be seen or common.
For people thats aware on how this market works will really not be bothered with this drop.

Eventually we are seeing the price is starting to climb up once again.Good thing that i do able to buy at the bottom and sell off on the current price.
Rinse and repeat and you will surely make money.

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Quote from: BITCOIN4X on February 23, 2021, 03:42:57 PM

I didn't expect that today I will see the crypto market collapse so quickly and have made the market cap drop more than 15% based on CMC as I write. The altcoin average was affected by the decline in the price of bitcoin which is currently trading at a price of $46,700+ and I've seen it fall. I don't think 2018's history is being reborn today which might be considered a sign the pumping period has ended. I am sure the market will return to normal and the market capitalization will rise again.

I agree. I like to stay positive against today's market horror which for some this was to be expected. Looking at the percentage drop, relatively speaking this drop is only erasing the gains from the past 1 week, which to be fair was all too fast. This is just the panic sellers getting out while they can.

I believe this is not the end, but a normal correction which can last for 1 week or so, before seeing proper recovery.

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Quote from: Johnyz on February 23, 2021, 04:52:45 PM

That’s true, you really have to wait for the bottom and wait for the signal of the trend reversal. For now, you just have to enjoy watching Bitcoin falling and be ready to buy more when its the right time. Don’t panic, and stay calm if you didn’t do any stop loss then prepare to hold it for long.

There have been 2 bullish engulfing candlestick already on BTC... And 3 for ETH...
Could that not be enough?? Just asking....

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Quote from: paxmao on February 23, 2021, 04:13:23 AM

If you are not familiar with this term, just look at the bitcoin price as now. There it goes!

That’s true, you really have to wait for the bottom and wait for the signal of the trend reversal. For now, you just have to enjoy watching Bitcoin falling and be ready to buy more when its the right time. Don’t panic, and stay calm if you didn’t do any stop loss then prepare to hold it for long.

Murpheus

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Check my very current post...
You cant catch a falling knife... But you sure can pick it from the floor...
On your charts that's called support...
And Bitcoin and ethereum has just hit that imaginary floor...
How much you gone bet??

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A great saying when it comes to trading. It can be applied both literally and in relation to a sudden market crash. This saying applies in my strategy on trading both Bitcoin and other alts. I am not sure when will the drop of price will stop so I wait even though the price is already low for a good buy to make my entry point more effective. Red candles in the long run will eventually consolidate and move back up and so what I do is to look for that consolidation of prices and apply different studies if the price is now bound to go up or if it will still go down. Trading effectively and efficiently can be achieved if you apply different studies to the graph.

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Quote from: paxmao on February 23, 2021, 04:13:23 AM

If you are not familiar with this term, just look at the bitcoin price as now. There it goes!

Good for those who had bought in $45k and bad for those who had panic sell when they had bought bitcoin in above $50k. These kind of situations are bit common
where theres some shake off into the market and now to those who had able to buy cheap then for sure making profits in a short span of time or didnt really take 24 hours
was indeed pretty easy.
I thought that we might be seeing 30k into that rate or fastness of movement of price decline but i was wrong again or others said that this will be
like a dead cat bounce.

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Bitcoin is dumping currently and have been expecting this since but it those not mean you will see bitcoin around $10k to $20k. I think Bitcoin is down currently and nobody knows what next will happen to bitcoin the next step might be a bull run and it might still dump more so I believe if you really have intention or plans to buy bitcoin you can start buying but you don't have to buy all at once you can buy in percentage. But from what I notice about this dump the next bull run will be massive I believe if you are holding bitcoin or any other altcoins I believe you might be at lost currently but you can hold your coin don't panic since you know the kind of coin you are holding it is going to recover with time.

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Quote from: paxmao on February 23, 2021, 04:13:23 AM

If you are not familiar with this term, just look at the bitcoin price as now. There it goes!

While true I think there are many that will try, but to me this is simply too dangerous, even if I do not think we are bound to see some catastrophic crash yet the potential is there, so it is better to just hold for those that are in bitcoin for the long term and wait for a better opportunity to buy more, if on the other hand you are a trader then it is still better to wait since at the time we are close to the bottom of the movement and there is no guarantee the price will not keep dropping for some more time.

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I didn't expect that today I will see the crypto market collapse so quickly and have made the market cap drop more than 15% based on CMC as I write. The altcoin average was affected by the decline in the price of bitcoin which is currently trading at a price of $46,700+ and I've seen it fall. I don't think 2018's history is being reborn today which might be considered a sign the pumping period has ended. I am sure the market will return to normal and the market capitalization will rise again.

I don't know if today's price decline is normal or not, I think the decline is quite big after the big increase a few days before. The bitcoin and ethereum network are still quite dense and transaction fee are not dropping, leading to speculation whether people are constantly dumping bitcoin from their storage wallet and altcoin in a burning market ?

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Just because it is dropping right now doesn't mean that you should not buy it. By that logic back in 2020 march when the price of bitcoin dropped from 9k to 4k you should not buy any bitcoin, that would be a "bad idea to catch a falling knife" during that period as well, but anyone who did that would be 10x richer right now as well, in just one year you could have turned 10k dollars into 100k dollars if you did that. So right now, it is falling and you are thinking it should not be bought because it is going down now? That is as bad of an advice as anyone could ever give.

Reality is that if you are looking for a reason for not buying bitcoin, that would be actually bitcoin being so peaked out at 60k that it responded with going down super high for falling to go above that, so it should always be "never buy at peak" instead of "never buy when it is going down" because buying when it is going down is good, buying when it is peaked is not.

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Let the knife fall on the floor freely before we pick it up in a right way. It simply means there there's always a perfect timing especially during the market situation right now. It's better to wait for a lower price so we'll never have losses and regrets in the future. If we know how to apply the basics of trading, we'll surely understand how to apply this advise.

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Never catch a falling knife, these words are usually used to describe any form of investment and when the price drops sharply the investor makes a purchase and must have the guts because when everyone sells it for a big profit and he takes advantage of the moment by buying in large quantities.
and hold in the long run to sell it back at a satisfactory profit when the price goes up high, and that way is very common but the result is very profitable and must be disciplined and consistent and must be patient.
but in my opinion the market is currently undergoing a correction and it will rise again and also don't expect a sharp decline because investors will lose confidence due to fear and not all investors' thoughts are the same.

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Quote from: Julien_Olynpic on February 23, 2021, 05:24:17 AM

The author gives us good advice. I read something similar in Jack Schwager's "market magicians". There one old trader advised to buy only the market where there were no more falling daggers left. More precisely, “when the last dagger stuck in the floor stops trembling,” then you need to buy. Otherwise, we risk cutting our hands. On the other hand, everything is determined by the position size.

People could safely catch the knife together with amount they can afford to risk/lose to avoid getting injured and prevent it from falling sharply to the floor.
I think they could catch the knife with something other than their flesh to avoid getting bloody hands.

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The saying is right but if you know what you're doing, you're not catching the knives but you're catching those cheap bitcoins this time.

If you believe that it's a good time to buy then it should be your decision and do it unless you're hesitant.

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Quote from: paxmao on February 23, 2021, 04:13:23 AM

If you are not familiar with this term, just look at the bitcoin price as now. There it goes!

Trading is a risky business and this saying is for traders. Obviously it's better to wait until it's down and buy the bottom. But the bottom doesn't last, so the traders with balls are "fishing".
The rest are watching and waiting.
Some fishers will catch the bottom, some will get burned.

Quote from: davis196 on February 23, 2021, 06:52:46 AM

The reference about Bitcoin being a "falling knife" seems kinda wrong.I don't mind buying and HODLing

The reference is for traders. Investors/HODLers will wait until the price rises again. This could be just another refueling stop.

Quote from: davis196 on February 23, 2021, 06:52:46 AM

All the hype about Ellon Musk and Tesla buying and adopting BTC is gone.
All the rumors about big institutional investors joining the crypto markets and buying BTC are gone.
When you have those things in mind,it's pretty obvious that the current price correction was pretty much expected to happen and the BTC market will return back to normality.

It rose too fast. A stop for catching breath is good, although it does look scary, I don't deny that. TA people were warning about this around one month ago.
The news come and go. The buyers love these dips, they may even cause them to buy the bulk cheaper.

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All the hype about Ellon Musk and Tesla buying and adopting BTC is gone.
All the rumors about big institutional investors joining the crypto markets and buying BTC are gone.
When you have those things in mind,it's pretty obvious that the current price correction was pretty much expected to happen and the BTC market will return back to normality.
The reference about Bitcoin being a "falling knife" seems kinda wrong.I don't mind buying and HODLing BTC in the long term,even though the price is falling.Unfortunately,I don't have enough capital right now.

palle11

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This is a true advise. Catching a falling knife can make you a slaughtered goat and leaving you there bleeding just as the market is bleeding now. Bitcoin is on high fluctuation at the time, it is selling at $46,285/777, from last week $56k. This is blood bath at this time but is normal if you also follow the market.

ubercool

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Totally agree with the OP here. Just checked the basic stats and it shows 4.8$ Billion from 529897 traders were liquidated in the last 24 hours.
The single largest was on Huobi with BTC value of 20.66$ Million. Futures trading is so so risky when the market is shaking, all you need is one single mistake and all of your portfolio will be vanished in a minute.

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The author gives us good advice. I read something similar in Jack Schwager's "market magicians". There one old trader advised to buy only the market where there were no more falling daggers left. More precisely, “when the last dagger stuck in the floor stops trembling,” then you need to buy. Otherwise, we risk cutting our hands. On the other hand, everything is determined by the position size.

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Quote from: paxmao on February 23, 2021, 04:13:23 AM

If you are not familiar with this term, just look at the bitcoin price as now. There it goes!

Great Saying here Grin

because it will surely hurt or scratch you if does , better wait for the drop and then pick it up from the floor so you can choose in which part you will handle the Knife and no risk in having it in the Blade part.

But we must be also aware that any moment the growth will come because for me this is what correction is all about.

paxmao

legendary

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Do not die for Putin

If you are not familiar with this term, just look at the bitcoin price as now. There it goes!

Topic: Never catch a falling knive (Read 604 times)