When dip?

in #crypto6 years ago

I remember in the golden times of cryptos watching tens of videos on youtube having the title when moon or when lambo and these were definitely a trend over there for that time, but as trends are doomed to vanish so the authors of the videos and their shitty predictions did from the giant censored platform.

I have to admit that not until late I have realized how much was that $20,000 price for Bitcoin and how childish was I and others to believe that at that time Bitcoin was unstoppable. Looks like it was, at least for a few good months as it is depreciating for more than half a year despite bullish predictions from people like John McAfee, Tom Lee and others that trust in it the way religious people trust in God.

Probably Bitcoin will end up as the God of money, but until then there are tweets and blog posts popping up lately having the title when dip instead of when moon. It's like everybody is waiting for that dip for a while, where Bitcoin and other cryptos should take their energy boost from and climb the mountain again and even go further into the sky. A matter of fact I am waiting for that also, for months, but it simply doesn't happen and nobody seems to understand why. It's probably that it's too much anticipated.

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In terms of news we can't say that we have bad ones taking it down. At least not in my tweeter's feed. Almost everyday I read about some big name opening offices dedicated to trading cryptos or planning into doing that and that's bullish right? There's no serious ban either like we had in China in September causing BTC to loose thousands in a few hours so why is the crypto market still draining leaving us in the desert? It's probably that the market is not influenced by news after all. But then comes another question: who knows exactly what drives BTC up and down?

Probably nobody, or probably there are much many factors involved in the market's movements than we are aware of. Or it's probably the situation that we haven't really dipped yet and there is still enough water to dive into. I was looking at Ripple/XRP, as it is my most valuable coin in my portfolio...again and last year on this time it was sold at about $0.18 while now it is trading at about $0.35 so there's still room for playing around between the two marks. Now, I really hope it doesn't play that much anymore and the price of it starts changing trends, but not even once the market has done what I wished for so I would probably look at it more realistic than idealistic from now on.

Regarding Bitcoin I read a tweet about two weeks ago of a prediction from some guy, who's name I really don't remember, saying something very clever. He said that everyone was expecting at that time for the prices to go up, especially Bitcoin's and he did also, but he thinks we will first see BTC at $5,000 before we see it at over $20,000 and it somehow makes sense. If we see Bitcoin and other cryptos as having a consistent growth with specific spikes during a year time frame, then we might need to get close to last years average prices before we take off again towards new all times highs.

So, if BTC was trading between $3,000 and $5,000 last year, before it started it's massive rally, should we expect it to first get to those $5,000 levels, close to its last year average and then see it climb again or history will not repeat itself this year. What's your take?

Thanks for your attention,
Ace

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I did try to buy a so called dip 2 weeks ago! But we all know what happened after that :(
For the moment, I will HODL and work from there!
Maybe when the next pay check arrived, I will try to double the holdings of some of my alts, trying to bring down the average book price and if they double sell that part again.
It are really uncertain times, so I am not able to give you the correct answers. Apparently even experts can't do this.
Cheers,
Peter

I don't know what to say anymore about experts. If there are any. You could be right and this could be a good buying opportunity after all. It's probably that we are our own experts. By the way how's the weather in Belgium? In here we're starting to have summer 😁.

Believe it or not but it actually did rain lt night.
And it was very welcome. We did have temps above 30 until today. It seems we are back at the normal things. Around 25 degrees with now and then some rain!

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