Have we reached at the Bottom ?

in Project HOPE3 years ago

A common question that has been asked by many of my friends in the last few days that have we reached the bottom? Its not easy to answer this question because no one can predict it exactly and only we can have. rough idea through technical analysis.

Right now in bitcoin trading price is almost US$37,000 and the Ethereum price is around US$2600 whereas if we do a comparison and then we are almost 50% down with the all-time high price. There has been quite a good amount of fluctuation in between and that has helped many crypto enthusiasts to bag more coins at them and even they were able to make a good profit this time.

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Some people are saying that diamond hands are holding and weak hands are selling off and moving away from the crypto market for some time because it is not easy for them to service. I do understand that for people who do not have a long-term vision in this market and have come here for easy money then it is a very tough time for them because they would have to hold and there is something they are not well prepared for.

My strategy in the crypto market is very simple and the same I have been following for quite some time. It's that I am here for the long term and I don't get panic when prices are going down because I know that in the long run it will give me a decent profit and as of now I am not selling anything just because prices are dropping. We know that BitCoin's price is US$37,000 right now but I have a vision that in the next three years we should be crossing at least $100 K and its highly expected to happen.

The panic cell is one of the bad things that new people always do and this way they definitely lose their money however they should keep it on hold unless they make money out of it. Technically you are on lost when you sell and you are not on lost until you are holding.

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I don't know whether the current price is at the bottom or they will be any further dip in the price in the coming days and weeks. I did my shopping already and have no more money to buy anything so if in the next few days there will be a big dip then I would not be able to grab anything. However, if I am able to arrange some funds and I see some decent dips (20%+) then probably I would be able to buy some more and that's how I work in the crypto market.

What's your thoughts about it and share if any suggestion or tips you have.

Thank you so much

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Hello friend, in particular I invested 400 USDT in hive, I am waiting for the price of hive to go up, and if anyway it goes down more I have some USDT back up to keep buying.

Greetings friend and I hope you do well in your cryptocurrency trading options.

I still believe they will be some movement like two to three times up before we finally got the bottom

lets see if it happens.

With some recent prediction I am reading online though, I see a lot of people talking about we ending the run and soon bitcoin will make a short move upward before going further down

Most times, only the patient people will reap the gain of those who sell in fear. With the look of things, Bitcoin might rise anytime soon. Meanwhile, it was more bad during the 2018 bear market. It is still fair right now.

I agree with you and in crypto anything can happen however looking at the current scenario it seems it will rise soon

As it's impossible to find out where the dip exactly is, I think it's always wise to keep some stable coins in hand to seize the attractive opportunities when they come around.
Just like you, I already did my shopping and it's time for me to deadly hold my cryptos

Thanks for the nice post :)) @alokkumar121

I can't predict the future but I guess it will stay in the range of 33K$-40K$ then it will go up again, but that's just predictions.

I agree with you as I believe it's the best time to buy now even if it might go lower, but in the meantime, it's kinda low and good enough to buy.

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