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Hello Friends,
We are back again with another quick update about the market in no time.As you all know Bitcoin dumped from 7400$ to under 7000$ in few hours only.Possibly the short traders on bitmex overwhelmed the long traders.
INTRODUCTION :
When everyone was predicting 7900$ to over 10,000$ price ranges for bitcoin very soon, bitcoin once again behaved opposite of the market scenario.The shorters overpowered the long traders.Btc was having strong support at 7100-7200$ but it broke and now trading even below 7000$.
To add the adversity, Altcoins are bleeding badly in no time.The top gainers turned top losers on Coinmarketcap.Almost all coins are 5-20% in loss, if btc continues to behave instable there can be bloodbath in the market again.
IS IT GOOD TO BUY ALTCOINS NOW ?
Yes, like everyother dip it is always advisable to grab your favourite altcoins in dips.When the bitcoin gets stable they will move like anything.They too can dump more so it is also suggested to have them in parts.Tron is also a good buy near 330 satoshi from now due to some binance giveaway news coming.
WILL BITCOIN BOUNCE BACK ?
Now with just 400$ drop in btc price, the same question will be on everyone's mind will the bitcoin pump again.This is how we trade emotionally.Ups and downs are the part of the market movement, don't trade with emotions.Yes, it will increase for sure with many ETF's news coming this month and we are in last quarter of 2018.
ETF decision is also pending for tomorrow, however the main ETF decision is on late September.Also, R.B.I decision hearing in S.C is pending for 11 september we are all hoping for a positive outcome this time.Nodoubt september month is crucial for bitcoin's future in India as well as internationally.
FUD IN THE MARKET :
Bitcoin again trading in the arket under 7000$ which is also showing hige selling pressure, the news in the market tat is a Bitcoin whale, possibly a darknet website that was shut down by the FBI or Mt. Gox.The cryptocurrency exchange that closed doors in 2011 after being victim to a hack attack.The exchange lost over $473 million in the event leading to a bankruptcy filing.However, a lawsuit by Mt. Gox creditors has placed the company in civil arbitration.Mt. Gox trustee has been preparing to compensate the creditors who intent to recieve Bitcoin cash and Bitcoin assets.
CONCLUSION :
Bitcoin has a great future indeed, these are normal corrections in the market from time to time.We are used to it now, but panic selling is the main cause of such dumps.Whales manipulate the market accordingly and make profits by playing with emotions of small traders.Market will recover sooner or later, no need to panic.
See you in our next blog soon !
Don't forget to comment down your views below.
Thanks,
Sumit Kapoor
@moneyguruu
upvote done follow too ..@moneyguru nice informative blog
please upvote me and support plzz
https://steemit.com/life/@ankitjnv/makeover-your-mood-things-that-can-make-you-happy
lets hope , it will recover soon ....
@moneyguruu whats your predictions about price of BTC at the END of 2018 ????
nice post
very nice post, sir please muje bhi follow kr ke mere post pr comment kr do ....please share bhi kr dena
Letz help each other
Nice post brother
I just sit and relax no need to take tension in the long term definitely you will get profit just put the desirable bid on your coins and surely you will get the profit most likely very soon.
Just like Doge hit around sooner or later all coins will.
Posted using Partiko Android
Nice post
Iam positive that btc will bounce back.
Hoping to hear good news in India as potentially it could be a large market
48 hours stay 7300 to 7350. sign of down market
Sir
Is it right Time to buy BTC or not
Awesome information brother
but sir dollar is also climbing high so don't worry about
sir tell me how to vote on steemit
Nice informadtion sir
Of course it will, we just need patience.
Letz help each other...by upvote on blogs..thnkx
Sumit bhiaya chote bhai ka namskar
Kuch new plans batao bhaiya please
thank you for updating us sir we hope for the best and hope bitcoin will recover very soon :)
hi sumit sir, this article and all your videos give us great infosince 3 years, and got too much from you. now a month ago, I watched your video about steemit and now am a steemian. i need your support want to join your community. regards
Not only this, same is the case we observed for alt's, plummeted 10-15% in a matter of minutes. This is as it seems is outright manipulation + to spice up thing we don't have the shortage of FUD, but also at the same time it's a good opportunity to get in alts at lower prices and go long for at least 10% or with offcourse stop loss properly setup. Right now I am not worried about the dollar value of my portfolio, but concentrating on increasing the number of coins by taking advantages of all the fluctuations. Most people think these fluctuations are bad, but without these fluctuations how would people profit.😉
Eg. selling at say 100 satoshi and buying back at 90 satoshi and repeating this cycle, without concentrating on what price I purchased, as I am in for long term.
Hiiii Sumit Sir. My self Dharmendra Joshi and my ID is @dktrending341. I joined on Steemit inspired by you. I am a fan of yours and your YouTube videos.
Nice post brother.
What decision are going to come on September 11 ???
Will BTC become legal in india?
https://steemit.com/britishairways/@kunaljoshi/strategic-analysis-of-british-airways
Please upvote
Of course it will bounce back, thanks for the video.
We can see this type of fluctuations till this month end.. @moneyguruu
Will it maintain the resistance level?
Or it can jump more than its resistance level... @moneyguruu
Hope so you revert back to my question!
By yours,
@majestyman