RE: What to Do as Bitcoin Falls and Returns to Crypto Throne
This has been quite the weekend.
_seeing BTC crash to the 7300 level....seemed a bit of a head fake of sorts.
I honestly expected 5800-6k tonight on the asian markets (usually around 3-5am EST is their huge sell hours)
to see it just hit 7200-7300 and bounce back up...well makes me agree with you CI....this isn't the big crash we awaited.
-Regardless,i haven't seen panic like this since 2008.....it was looking a very nice FIRESALE. (And yes i bought in with about 25% of my fiat)
STEEM was one...i was heavily hoping it drop to the lower levels (just to acquire a bunch on Binance then transfer it over)
But yes,new investors..even seasoned ones...this why you keep fiat on the side awaiting these rainy days. Might it be too early?
Possibly.
But buying in small increments is something i always do.
-The first tier of Alts faltered this time around
NEO (dropped to 49.50 usd.) ETH ( 457 usd) LTC ( 137 usd)
That honestly surprised me a bit...considering BTC didnt drop to the 5k-6k levels.. And usually these were my main failsafes...
Now this warns me to NOT rely on them if we do suddenly crash again.
Id warn everyone.
This is a very unstable market...for those who daytrade...you can get massively burned.
if you take the day off...you might see your portfolio burned to the ground.
For you HODLers...this might be a nice entry point for something you always liked but it was too expensive. (do yourself a favor ,buy in small increments)
Or just wait it out till BTC tests the mid7k level again...see if it honestly holds before investing.
Be careful everyone.
Great video as always @cryptovestor
btw i agree with you regarding some "projects"...especially one hugely popular one...it's a great one...to daytrade.
Technicalwealth, good post as always. I think NEO's drop was due to the Switcheo ICO ending. I bought a few NEO to participate as I didn't want to liquidate my NEO at a low. Of course it went lower after that before bouncing back a bit but c'est la vie.
Thanks! What happened at that ICO?
NEO is still in that attractive range...but im still wary ...at least this week.
This might end up being a dead cat bounce...so no celebration yet...
though Hot Cheap alts ! lol
It was a small ICO but still drove organic buying of NEO so people could get Switcheo tokens. I expect NEO to jump a bit on the NEX ICO which is much bigger and much more hyped.