RE: Newbie to pro Cryptotrader #2 - WHAT THE *! My first major crash as a trader!
Good attitude for a new guy! I posted this earlier:
"I read an investment book the other day that discussed the telltale signs of bubbles before they are about to burst. It compared the recent crashes in both the housing market and the dot-com bubble. The main take-away was that right before both of these bubbles burst, EVERYONE was aware of the money that could be made, and ‘dumb’ or ‘unaware’ was pouring in left, right, and centre. For example, in the housing market in the UK, right before the crash, several footballers (sigh soccer players) were seen on TV bragging about their property empires. The mainstream was well aware of the profit-potential in these markets, and that hype added to the crash. The good news for us is that whilst we’ve seen some outrageous profits, the general public is still largely unaware! We may be going through a slight bear market, but rest your weary heads, for the bubble has not burst… yet."
The market will bounce back very soon :)
True the real bubble did definitely not happen yet. These kind of crash we see now we will more often for sure.
But do you believe we can compare the dotcom and the housing market the same as the crypto space? i am not sure it feels like something else. of course what is happening now with all the ico's left and right this cant be healthy long term
I think we definitely can. The asset may be very different, but ultimately it's investing at the end of the day. I think there will be a crash, it just may not impact everything in the market. I think it will be just before we go mainstream, and whichever ones hit mainstream will be largely safe.
It is very tricky to judge though!
Yea makes sense our job is to figure out what the best strategy will be when it happens. I think we still have a couple of years in front us before it happens