THE DIARY GAME | Better Life With Steem : DATE (11-01-2021) | CRYPTO CURRENCY THE BIG FALL ON MONDAY. CAN SHARP RECOVERY POSSIBLE???

stream4u (72)adminin Steeming Diaries • 3 years ago (edited)

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The Big Fall In Crypto Currency Today......NOW, The Majority Of Coins Are At Attractive Prices.....Can Sharp Recovery Is Possible ??

Morning Time

This is early morning time at 3.30 AM, as last night I sleep late because I was monitoring the crypto market and especially the Ethereum movement, in my post on Friday I mentioned that BTC doesn't trade on Weekends so a couple of coins get spiked in the price. Ethereum achieved level $1300, XRP INR 27, and STEEM 17 on the weekends hence I did not sleep as I wanted to see the BTC opening price and the movement and accordingly how other coins move.

I see BTC open at 3.45 AM but was constantly moving around $38000, after monitoring 30 minutes I sleep 4.15 AM.

Then I woke up at 9.30 AM, had a morning tea. Started computer, accessed all exchanges and Indian Stock Market, also TradingView.

Looking at the TradingView I was shocked BTC terrifically down and back to back all other coins too.

_{My Crypto WatchList On TradingView: Morning Status}

Just 3 days ago, means on last Friday that means last day of the week for BTC Trading, in My Post I mentioned;

I was thinking What will happen when profit booking starts in BTC?

Afternoon Time

My official time has started, so I logged into the office laptop and office portal, then open outlook and keep the laptop side till all emails get downloaded as I was on off at weekend.

Also, I was monitoring the Indian Stock Market, but that does also not seem good for the day, the Indian Market indices were positive with major points but my holding stock is down now.

I kept monitoring the crypto market also, then go for lunch, then came back and watching the market again. I was thinking can sharp recovery possible within a day, because BTC was too high and maybe he will go more up from where it falls today, but to create a panic situation and majority coins get to sell, target stop-loss for these all the market fall. hence watching to see if recovery started.

Evening Time

I sleep in the afternoon for some time then wake up back at 6.10 PM, the computer was still ON and I see the crypto market is still falling.

Then I made an evening tea and had it. I did not have any emails for the day so spending time on the crypto market and exchanges only.

In this entire fall, I observed at XRP, STEEM, and found that these coins are struggling very hard and did not fall with the big points. Whenever there is pumping in the fallen market BTC, ETH the XRP, STEEM first try to cover some points.

_{My Crypto WatchList On TradingView: Evening Status}

In this time I see the majority of crypto coins fall and at a very attractive level to buy especially EOS at INR 190, BNB at INR 2850, ETH $950.

I tried to find the reason for this fall in Google and found the below few sources.

Bitcoin plummets by the most since March as a stronger dollar and investor nerves strip off nearly $140 billion in cryptocurrency market cap

Cryptocurrencies plunged on Monday, with bitcoin dropping as much as 21% the worst two-day tumble in the digital currency since March stoked concern that the polarizing cryptocurrency boom may run out of steam

Bitcoin and other digital coins tanked on Monday wiping off some $170 billion from the entire cryptocurrency market. The sell-off in cryptocurrencies comes after a huge rally and perhaps signals some profit-taking from investors.

But still, my view is saying that this fall is for creating a panic situation, heat the stop losses so that majority of people sell their coins and after that crypto market take sharp recovery.

At 10.30 PM I go for dinner and ready to sleep now.

This is how my day ends here.

Thank You.
@stream4u

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