Bitcoin Price Smashed Back to $800 Level!
Just Three Weeks Ago Bitcoin Passed the $800 on It's Way to Over $1150 Now Returning to $800.
The last few weeks sure have been a roller coaster ride for all of us in the Bitcoin and Crypto Currency space. The majority of people I see are now saying Bitcoin is over valued. Where were these people the last week of December? I will tell you where, they were with the masses.
It only took Bitcoin two weeks to make crazy highs and then just a few days to give it all back. This is a cycle we have seen many times throughout history. You would think we as humans would learn our lesson. This is the third time since 2015 that this has happened in Bitcoin.
Chris Dunn Explains the Rise and Fall of Bitcoin Over the Last Few Weeks and Throughout the Years.
What Can You Do to Avoid the Market Volatility.
- Watch the Bitcoin cycles, they tend to repeat.
- Learn from experienced traders like Chris Dunn before you start.
- Join a group of Crypto Currency traders where you can talk about your ideas.
- Never listen to what the media is saying about Bitcoin. If they are saying it the situation has already passed.
- Fear has no place in trading.
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Fear has no place anywhere. It's irrational.
Yet, the majority of folks live their lives guided by it. Such a sad state of affairs in the world.
Fear is rational, it is an aversion to something potentially damaging. The actions people take when dealing with fear can be irrational.
Good points in this post. Same mindset here. The current total market cap of all cryptos might seem high but blockchain is here to stay and will involve all our lives. I do see a bright future for everyone that's hold's their coins with a long term vision. An interesting website I found: https://www.coincheckup.com Supposingly they researched every crypto coin in the scene based on: the team, the product, advisors, community, the business and the business model. They even score the coins stengths. See: https://www.coincheckup.com/coins/Bitcoin#analysis For the Bitcoin Indepth analysis.
Previous resistance now becomes support? Or does it? ;)
All I know is that I know nothing. ; )
Trading... the most humbling endeavor on the planet! ;)
It sure is!
Waiting until it drops to USD500 :)
Wow, we will see. I hope so, I would like to buy some more at that point.
I can't believe it's hanging there at around 750$. I can't believe it won't be back to around 850$ in less than 24 hours.
No miners have unplugged yet a lot are mining at a loss if the price stay there.
https://bitcoinwisdom.com/bitcoin/difficulty
I tried to tell everyone a couple of weeks ago that the price rise wasn't sustainable and that it would come back down to the $750 - $800 level. Did anyone listen to little ol' me?
I did, put my shorts in and then freaking closed them after waiting for hours. Maddening.
I dont know enough about it to get involved. I am trying to train my old brain its just not coping well lol :)
Buying Bitcoin and holding it long term is always a good strategy.
Its knowing what I am holding onto that baffles me
Follow and upvoted. :)
Tweeted on @RandyHilarski
https://twitter.com/RandyHilarski/status/819217924154159107
i hope it drops more :) I want to invest on btc :) tnx for sharing
upvoted and followed!
Me too, I think $700 is fair. Followed.
I went to bed with a sell order of $918 and a buy order of $870. I was quite surprised to wake up and find them both filled. :)
So volatile! It really needs to calm down for folks to gain confidence. Great for traders, not so great for regular folks.