BITCOIN HODLERS NEVER LOSE!
HODLERS NEVER LOSE! That's a bold statement and our current all time high could change that statement with time. However, as of NOW, our current bitcoin history shows us that statement has proven to be true.
Now nothing I post here is meant as financial advice. I'm just The Dood posting his opinions and thoughts on the current happenings in the cryptocurrency industry. An industry that I love and hold dear to my heart. I know a lot of new money has entered this industry recently and if you were one of the unfortunate souls who bought at $2700 the other day you might want to take this chart into consideration before "throwing the baby out with the bathwater" as they say.
Now back in November of 2013 bitcoin sold for approximately $1200 USD, the price then dropped down to around $246 around March of 2015. Just when many people thought all hope was lost, and headlines across the internet read "Bitcoin Is Dead", like a Phoenix rising from the ashes, bitcoin made it's slow and steady rise to our current all time high of $2730 in May of 2017.
Will the price fall lower? It could! Will it rise to new highs? It certainly could!
In my humble opinion, again not advice, just a simple observation. What we seen yesterday was a simple and extremely drastic correction. A bubble or over-bought market that finally corrected. If current history has taught us anything it's that HODLERS never lose and that's something anyone considering selling at a loss may want to consider.
If you look at this 1 week chart you can see how it was really over-bought. The $2000 USD price range puts it on a perfect trend line for the correction and bull run to continue. At this point it's up to the traders whether they decide to become bearish or bullish. A bearish market with people selling may drop the price further, and a bullish market with everyone buying and hodling should put us right back on that trendline towards $3000 !
I used a bitcoin chart from coinmarketcap.com to show the bitcoin price history. The 1 week chart was taken from cryptowat.ch . This one day chart is looking pretty sweet. https://cryptowat.ch/gemini/btcusd/1d
Remember nothing here is meant as financial advice. Always do your own due diligence, trust your own instincts, and do whatever feels right to you!Thanks for reading, happy Memorial Day weekend to all my US peeps, and happy trading everyone!
You don loose until you sell, If you believe in bitcoin in 10 years its best not to watch the price to closely. Emotional trading is how 99% of people loose money.
Absolutely! Couldn't agree more. I watch the charts all day sometimes, depending on the type volume and volatility we're seeing. I love trading the highs and lows of volatility. But when things are slow or seem to be moving at a natural pace, I just step away and let things run its course.
Most of the bitcoin "prognosticators" with high viewer counts over at Utube are "hopeful" that $1800...ish will be a good buy point. I'm personally thinking more like $1500. I've been doing daily updates since I issued a sell advisory on Th afternoon. I made my call using the U.S. exchange tracking etf that trades under GBTC. I take it the blogs disappear here after a few days so my actual sell advisory will likely be gone forever. But here's what I'm tracking. I said to sell GBTC at $483, I think it was on Th afternoon. And then it made a "lower" high in the day on Fri (448 ish, you'll see it on the posted chart) and I issued a "watch out" warning. My spews should still be at my blog. I'm in "strong hold" mode on the GBTC short and the price of it will actually help dictate where the "real" bitcoin price will be. By the hopefulness/complacency/let's win one for the gipper attitude I am seeing in most of the posts, I'd say most here at Steemit can't even acknowledge the "possibilty" of another quick ass kicking that would actually make blood spurt from the rectum if they were still holding. If I had bought at the current 2020 area (just lost $30 in the past few minutes during "live trading) on the way to the recent stratoblaster high at $2700...so what, I fukked up. Gimme my money back. Just my personal opinion of course. I actually prefer dollars over cryptos :-) I like watching this crap too. But I like watching the "emotional" responses of those who made mistakes. I'd be "shocked!" if GBTC didn't gap down on the open on Tue. It will determine the "fate" of every one here and what happens to their gain or loss. ALL of the "believers." :-)
http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=&symb=gbtc&x=64&y=14&time=18&startdate=1%2F4%2F1999&enddate=2%2F18%2F2017&freq=7&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=0&maval=9&uf=0&lf=1024&lf2=2&lf3=8&type=2&style=320&size=4&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=9
Wow, great comment. I agree... About two weeks back I thought a correction around 1500 looked about right and a lot of people thought I was nuts. Then with the incredible spurt I pushed it up to around 1700 - 1800 too. I'm hoping that's the worst case scenario. I almost always hedge with alts but that market seems over bought too. I caught the top on a sell and started buying back at 1300. Currently just HODLing a small fraction of what I sold. If you're on twitter I tweet out current news and the occasional thought https://twitter.com/BitcoinDood Just followed you on STEEMIT, thanks for reading and the great comment :)
I also noticed a trade "anomaly" in actual bitcoin trading that allows a "hands off" approach. You simply buy at 4AM EST each day, no matter what the price is...and then set a limit to sell $50 higher. Trade gets closed if not executed by 4AM. That has generated 16 straight successful trades. Including a buy on Fri morning at 4AM. THis morning's buy came at 2120. I posted it "live" at 4AM. it's actually the first one I woke up early to watch live trading actually. :-)The trade took you down over $200 in a matter of 30 minutes I think it was. I'll post the live bitcoin ticker at the end of this. Just pull the chart back to 24 hours if you want to see the appx entry. If I was actually trading it I "would" have gotten out on that spike to 2163.00 or so. But I'm just sticking with the program to see what happens. If this trade fails I doubt I would do it again. Banked gains of $880/coin even through the volitility. It took the volaitility "out" actually. I'm kinda hoping it works again becuase then it actually makes me look like I'm on to something. :-) I update these trades also.
http://bitcointicker.co
Hard to "relax" on a $200 drop exactly 30 minutes after you bought. But that's what my "anomaly" said to do. :-)
Nice. Thanks for sharing. I'm going to have to try that. I love finding trading patterns.
Well, yesterday's 4 AM entry logged another $50 winner. And that was after a $200+ drop 30 minutes after getting in! :-) I'd be surprised if this mornings entry works though. 5/28/17 buy price was at 2289.00. Based on that big volume spike at the high it looks like it bought just before another dump.
http://bitcointicker.co
For now though, 17 winners in a row and $930/coin in banked gains.
HODL for the win? :D
HODL? how about ADD. Buy more on retraces.
HODL and ADD = Two brilliant words of the crypto dictionary?
:) that's been my strategy.
Funny :-)