Rise and Fall of the Crypto Markets. Today
Bittrex 1 day BTC/USD Chart
WHAT IS HAPPENING IN CRYPTO RIGHT NOW?
Well, we love cryptocurrency because it is volatile, and almost anything you are in right now has taken a hit. (If I'm wrong correct me in the comments) Everything I have has taken a hit, some worse than others.
I look at the charts and balances and think, I've lost, but really I haven't bought BTC with cash since about $5000, but some of my gains are most certainly being consolidated. Our income in Fiat took a huge hit when Joe got sick, but fortunately, we don't hold any debt, so we've been able to float through it okay.
I'm in a lucky position that I don't need this money for now, but it has certainly gone against the narrative of the 4-year super cycle I have been subscribing to.
I don't know if the bull season is over, but it certainly had gotten weird, with everyone making tokens and suddenly getting huge returns. While I avoid a lot of day trading, I have some gamblers out there as well.
Some people in crypto opt to try for "No Feelings". I feel the moves, I just don't allow myself to make emotional moves. Feelings can't be controlled only denied, but actions can be controlled.
I'm HODLing, I'm watching, I can't believe all the FUD. There certainly seems to be a lack of buyers for now.
GUESSING
If I had to guess I would say we take a solid break with consolidation here, probably more dip, but recover in a month or two. The market needed to cool off a bit.
When the market gets rocky go back to solid investments. For me that means, Bitcoin, ETH, BNB and CUB, I think I will get out of most of my shiny high-risk gambles. I will hold my exchange tokens and projects like Hive that have potential for some returns even in a bear market.
For now though while I am feeling some fear, it's time for no action.
I'm not a trader really, but sometimes I buy into various projects for fun.
I had no plans to use my crypto for now anyway.
How are you holding up? What are your thoughts on what is next.
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Not really making any moves here, just watching. This was pretty much a "triple whammy" week with the usual Elon Musk related FUD compounded by the Chinese clampdown and now the US regulators rattling their sabers. I don't think we'll be staying low for long... evidently their's now net INflows from institutions, so they are buying the dip.
It's a disappointment for now, but also allows for more accumulation.
We are a bit short on fiat right now, but dang I wish I had more to put in.
The worst phenomenon this year ❌
Almost all Cryptos are down 30-50% 📉📉
But reportedly it didn't last long.
In fact, this is good for those who are trying to buy this month.
Because December until early next year.
There will be a percentage in various countries on the continent of Europe 🇲🇫
Actually, this is not because Elon closed the Tesla transaction from bitcoin.‼ ️
But the phenomenon of asset exchange that occurs every 4-5 years ✅
Because the 2017 bitcoin chart with the 2021 chart is almost 95% the same ✅
This means that 1-2 years from now crypto will grow even more than its current highs.
Because the maximum growth must start from a drastic decrease in value 📉
I've cashed out some, but mostly still holding major coins.
Hi Glory, good to see you!
" I just don't allow myself to make emotional moves. Feelings can't be controlled only denied, but actions can be controlled."
This is the thinking of a successful trader.
How is Joe now?
Joe is doing really well! Thank you for asking.
He still needs to gain weight, but he is so much better.
Investors must be scared under this circumstances . China's crackdown on crypto is having a huge impact. All we need to do is don't panic. Hope situation will be better very soon.
Some say it is a good time to load up when the market is correcting. Just wait a bit for the dust to settle. 😊
Bitcoin is like digital gold, which offers two options, namely as a means of investment and payment. However, bitcoin is not exactly said to be a means of payment. This is because the public has not been able to accept bitcoin as payment and is unstable. Therefore, now we are just waiting for the response from the public.