[dtube] Bitcoin Prices are Falling - Here is what I think

socky (72) 7 years ago

I have been watching the cryptocurrency market cap as a whole. I use it as a health check before I make any trading. I've noticed that even though the market cap has shrunken considerably, it is no where near where it was about 45 days ago. We are almost 2.5 times that amount. I think that the correction is going, however, I'm no expert, but I'm doing well. I sold off all my bitcoin, litecoin, and ethereum last night, then it dipped. Since then, I have layered incremental trades when I saw the market dropping fast. For each one of these little trades, I put in a sell order for a little higher than I bought it for. I did pretty well taking profits from two dips. One last night and one this morning.

$5.15

6 votes

lordneroo (72) 7 years ago (edited)

@socky Absolutely agreed! Everybody is talking about bubbles and stuff, did everyone forget what BTC's price was last January? Right. What about the whole crypto market cap growth compared to the last six months? Right.

Thanks for sharing your trading tips! Massive respect to people who try to help others without expecting anything in return!

Highest Regards
@lordneroo

$1.06

4 votes

pbgreenpoint (68) 7 years ago

Corrections like this prevent bubbles. We need corrections. Nothing goes up in a straight line. Be fearful when others are greedy and greedy when others are fearful. Buy the dips and you will be happy in 1 to 2 weeks.

$1.03

4 votes

clivingston005 (46) 7 years ago

Amen, everyone is quick to call it a crash. Corrections happen and are good for the market and for investors if they know what to look for. I try to tell anyone that asks me that most people that are yelling crash over social media are probably going to benefit by the panic. I encourage people to think like a big investor. What would they be doing right now? They are going to be buying cheap, especially if markets like this can be subject to such volatile swings.

$0.06

pbgreenpoint (68) 7 years ago

Exactly! Plenty of "sales" right now.

$0.97

clivingston005 (46) 7 years ago

The big question will be is when will the exponential recoveries end from these corrections? I wonder is sanity will actually hurt more than help these markets. Can a mean be established for these markets to return to or are they just a scatter plot and we have to find what and if there is a correlation between events.

$0.06

pbgreenpoint (68) 7 years ago

Well, I don't think anyone will truly know the answer to that question. However, if you follow some of the posters here who do technical analysis, you will see that many of the dips hit prior resistant points and create new support points. Plus we are still relatively early, so there is bound to be more volatility. I'm sure that will change once things mature a bit in this crypto economy.

$0.83

kingsley-clement (55) 7 years ago

This is really the best time to buy bitcoin in bulk

$0.13

5 votes

jjcali (57) 7 years ago

Thanks

$0.12

jakescvlog (43) 7 years ago (edited)

deleted

$0.10

3 votes

dgolcher (28) 7 years ago

This is a new frontier, PoC technologies and everyone is getting in including the banksters and governments.
Few times in life one gets the chance to ride a wave with such potential easiest thing to do is...
Take it as high-risk high volatility investment and don't invest more money than you can afford to lose.

$0.10

youngjerv (54) 7 years ago

Great video my friend i learnt from every second of it, you touch some good topic , keep up the good work

$0.00

themobilewriter (48) 7 years ago

This was indeed a very sharp fall. Its value fell downright by almost 50%. Anybody would get panicked because of this.

$0.00

jamesbrown (62) 7 years ago

Not me and not a lot of traders who understand that 50% corrections are not only common in trends, but, in cases like bitcoin's chart when it moves almost completely vertically for a sustained period, a very good thing. It's only when the price moves below 62% of the bullish price move that I become really concerned (falling below 50% correction is the first sign that the trend might have ended).

$0.10