BITCOIN BOUNCE LIVE
I follow the Bitcoin Bounce Live. I reflect on why, what I am doing, and where we go from here.
Some people are freaking out. But the truth is that this is a positive and healthy correction in price. Look at any other market and the price goes up and down. SP, DOW, NASDAQ, are all in a scary looking bubble mode. But Bitcoin and Alts are showing signs of a healthy correction. What goes to the moon, must get rekt, and rinse wash repeat. And what goes down, will go back up.
Another reason price is falling is because it is the holidays. There is always Profit Taking before the holidays, especially ones when Bankers will be spending time with family or on their Lambo Yachts. The same thing will happen again on Labor Day and a little before the Fourth of July. So keep an eye on the holidays and be prepared.
Recently, legacy money has entered the market. Not newfound crypto millionaires. I'm talking about old skool big dawg billionaires. CME, CBOE, Goldman Sachs, AXA, and more institutional players in the financial world are investing their resources into the future of blockchain, especially bitcoin. When price gets slammed like this, it can also mean a shake out is in effect. Big money can shake out little fish, scattering them apart, then they gobble up what's left to be an even bigger whale. So stay strong and HODL on. And while happy for them, I am jealous of those who are able to buy more Bitcoin, Litecoin, Ethereum today.
Ultimately, Trust Yourself. Take care of yourself, live your life, be kind to yourself and family. Keep it real. And when it comes to any financial decision, do your due diligence and trust yourself. Wishing you all the very best!
Previously….
"Proof Of Humanity" Blockchain, IMPROVCOIN
Join the @jacobts Curation Trail
Comedia del Improv Class. January
Charting Price For Beginners on a Budget
Why do you Steemit?
contact earn.com/jacobts | twitter.com/jacobts | Micro Invest with Acorns
Binance | Coinbase
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Nice post @jacobts, I agree with your analysis!
Thank you. It was fun to catch it live. Trade safe!
It's a new market cycle baby, $30,000+ here we come!
Indeed. A much needed correction. I think it will range a little. If I had bullets in the chamber, I would be adding to my investment. I'm jealous of anyone buying during the next few days. Onward and upward.
are you converting to FIAT? one of my big fails early on was cashing out to USDT for profits and then not buying back in immediately...or at all. i got in on ETH at $15 last august with believed it would hit $150 in one year (instinct) but after a huge dip and rise, jumped out at $18.50 (emotion)... and then watched everyone else go bananas on the ride to $800+.
i didnt understand that the goal, for myself anyways, should be the accumulation of crypto - BTC/ETH/whatever you are into... XRP for myself.
if you believe in the future of the coin/crypto, the current value of a coin in regards to USD/FIAT is irrelevant except to buy in, to cash out for some profits, or to sell high and then to buy back in at a lower price - to accumulate more coin.
the system i am working on now is to stop trading coins constantly and instead keep buying in on the dips. for one, the emotional stress constantly watching and trying to time the market is too much and i am usually wrong on the short run(emotions) but definitely right in the long term (instinct). even if the coin crashes, just hold bc if the coin is solid, it will rise back up even if it takes several months.
Brilliant! Yes And Do That and Keep Doing That! Thank you for sharing your observations.
bitcoin (You could skip over 20,000 again??)
I believe it will range between 21k and 28k during 2018.
I was so scared :( I sold all my cryptos :( I was in Panic.
Bought 300$ bitcoin at a Price of 6500$
I am allways selling at corrections and then I fail to buy :/
Stay strong. HODL on. Stay in touch here, or stay in touch with family and friends when making major decisions. I expect another sell off before Labor Day and maybe 4th of July. I checked my notes and I warned myself to watch this week for a sell off. There is always profit taking before major holidays.
Sounds like you were able to buy at 6500? That is an amazing price. Nobody could get that on GDAX. Congratulations!