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RE: Bitcoin Analysis - What Will Happen On Thursday?
Bitcoin is being a real pooper lately, with all its negative days.
But, it just means this next leg up will be awfully rapid.
I don't have the emotions needed to be a trader yet.
Trading crypto is extremely volatile, but it is an amazing thing for a trader like me. Having that said, I only trade for 1% of my portfolio at the moment in order to spread the risks.
It would not surprise me if Bitcoin will close the year around 25k or higher...
It's really easy to feel nervous when bitcoin takes a tumble, but to put it in perspective, it has gained so much so quickly recently that corrections should be expected. This week's tumble only took it down to where it was about two weeks earlier, still having made a 100% gain over the last month, so not really bad providing you got in before that. I expect we'll get a lot more of this kind of volatility as additional capital is pumped into cryptos. There will be plenty of trading between BTC and the alts with people trying to buy and sell on the peaks and troughs and make some gains. I think the market will continue to increase overall though, so holding through the dips is still a good strategy for now.