You are viewing a single comment's thread from:
RE: Technical analysis for today(2) Stratis STRAT Zcash ZEC Bitshares BTS Antshares ANS
You're thinking another correction is due for BTC? It has been trading in the $2-3k range for 6 weeks now. Do you think this level of consolidation isn't enough and that it should be heading south for some time? Any thoughts on the technical analysis to suggest that? Very curious :)
At the moment, I am frightened by a strong drop in market capitalization, as soon as this becomes more or less clear then it can be predicted.
Classical technical analysis is not so easy to apply to crypto-currencies, let's hope for the best and time will tell.
Though I don't speak Russian Google Translate was my friend today :) I understand what your fears are here. It has gone up considerably and we were just going through at least one phase of corrections. Let's see what happens
Yes, let's see how it will be, because everything depends on many factors, I personally really believe in crypto-currencies and wish them growth and development with the attraction of new investments and opportunities.
It's interesting how the dotcom boom and bust story keeps getting repeated over and over again. Everyone expects some Massive bubble to explode and tumble everyone's finances into the toilet. History does tend to repeat itself but what's funny to me is how the concept of the crypto bubble has been going on since 2015 or so after the collapse of Mt Gox and when Bitcoin started to recover again. Every month more stories of bubbles, when BTC was $500, $1000, $1500, $2000... Need I go on..
Everytime there was some kind of major down swing and consolidation... But ultimately it went back up. I think most thoughtful investors are aware of the risks and are ok with the volatility of the space.
Consider that back in February we were sitting at $20+ Billion market cap over all. Today we are at $100B. A corrective measure of 20-30% overall is pennies as I would have expected something far greater. It may yet come but the overall direction is still upwards in the mid to long term.
So many businesses are now invested in the space to improve it and make it more accessible. I can't imagine failure to be honest. But we will face volatility... And bad ones that will shake us to the core. That's ok as long as our love savings isn't in crypto :) It's either going to a zillion bucks or it is going to zero. No other way around it.
Happy trading and thank you again for the indepth analysis
Yes, people believe the stories and those who burned then think well now :)
I also sold all my 12 bitcoins in 2013 at the rate of $ 112 and in November of the same year it cost $ 1200 :)