Wooo!! What a night!! BitCoin touched 6k$, and spiraled one more craziness of selloff...
Just now, MONTHLY Technical Analysis , from all the history of BitCoin, gave BUY signal!
Personally Im grabbing few more good alts, like Zerocoin ( XZC), DASH and ETH.
Also, seems like more and more whales are accumulating tons of coins, at crazy discount. And of course, retailers keep getting slaughtered like no tomorrow..
Hold your grounds. if you can, keep accumulating few more coins. As i see the market now, my bet is that around start of April, we will experience a mega rally.
As it stands now, 5990$ is a temporarily bottom. Will update you shortly if something changes!
DO NOT panic and DO NOT give your coins to the whales for free! Set your targets and forget about it.
Stay green!
You should blog more often to wake everyone up. At least here in Steemit. Prices are in free fall because people are selling like crazy to save what they can. And the big sharks are waiting for that chance and buy so cheap...
That is my target - to protect as many ppl as I can from their investments and coins..! For better or worse, I have this experience, in 6 "crashes" so far so its easy for me to remain calm, but i can understand how some "new blood" can run around panicking and screaming right now. i will do my best! :)
According to the firm Autonomous Next, the number of hedge funds investing in digital assets like Bitcoin has grown rapidly to more than 100. Since the launch of Bitcoin Futures on the Chicago Mercantile Exchange in December 2017, it shouldn’t be a surprise to anyone why the price of Bitcoin is down 50% from the high.
bitcoin.PNG
Only Retail Investors chase price and buy high and sell low, while the Professionals buy low and sell high. The Hedge Funds have purposely sold Bitcoin futures to get in a better price.
At the moment, there is a war taking place between the buyers (Hedge Funds) and the sellers (Retail Investors) called capitulation. That line in the sand was at $9000. Capitulation is when investors give up any previous gains, by selling, in an effort to get out of the market. Capitulations are outcomes that result from the maximum psychological and financial pain that can be endured by a group before throwing in the towel. The Retail Investors are throwing in the towel after seeing a more than 50% correction in the Bitcoin price to the buyers, the Hedge Funds. With 100s of millions of dollars to invest, we are witnessing an accumulation phase by the Hedge Funds between $6000 and $9000.
The Hedge Funds are loading up and buying from the Retail Investors. But to fill all their buy orders, as the sell orders dry up, price must go down to the next stack of sell orders. We are approaching what I believe will be the bottom of bitcoin at $6000. My first target is $12,000 and my second target is $17,000 over the next 3 - 9 months.
The easy money has been made over the last 12-18 months. With the big boys in the game now, the rules have changes. The question is, are you ready to play to win with a new play book?
This post is my personal opinion. I’m not a financial advisor. Do your own research before making investment decisions. By reading this post, you acknowledge and accept full responsibility of any gains or losses.
nice answer!
Could you outline how "the big boys" will affect this market? Will it be more controlled or predictable?
With no regulation in place, would this not lead heavy manipulation players with significant holding?
Since I am investing long-term with trust in the technology behind cryptocurrency, how does it my long-term investment strategy (consolidate into more establish crypto, further diversify or keep the status quo with 20% BTC 40% ETH and 40% Altcoins)?
The "big boys" see the opportunity and want to be a part of the space, but with so much capital at risk, they won't enter the space w/o more regulation. With regulation in place, I think the price swings will be more controlled, but also predictable and manipulated. The "big boys" always leave behind their foot prints, so the charts/price action will allow us to know when they bought or sold. The markets are nothing, but repeated cycles. This is the Internet 2.0. There will be boom and bust and a new Amazon, Netflix, Apple etc. I believe in the space long term because block chain technology will be bigger than the internet. I'm minimizing my risk by investing in the infrastructure plays, like Eth, Neo, Icon, Ripple, Stellar, etc. Did I answer your question???
Thank you so much for your reply! I am also investing in the same coins except for ICON. I also join this market with the mentality to support the technology and infrastructure that comes with it.
It is a loop, further reduction
Upvote and resteemed !
This is what happens when sheep invest in bitcoin
One of my friend didn't know what a market cap was but he still invested
lol these sheep
@dream-o Thanks for your valuable insight and advice. I personally believe there's plenty of room for growth ahead, given that the entire cryptosphere is still at its infancy stage. Keep it coming and thanks for giving a piece of your mind!
As BOB MARLY said "don't worry about the things cause every little thing gonna be alright" BTC will rise again be patient mate
thnx for share
Why may the crypto market crash be a wonderful thing?
https://www.tokens24.com/news/may-crypto-market-crash-wonderful-thing/
@dream-o Wow! I went double down when it hit $6,500! Congrats to you if you were able to snag some at $5,990. I think we will see one more dive down maybe to around $5,500 to hit support and then hover around the 6-7 K mark unless we get alot of people with tax return money. Im hoping for at least another month of Bear market so i can buy this crash and make more later this year! HODL GUYS!! YOU HAVENT LOST ANYTHING TILL YOU CONVERT TO FIAT!!!!