I have been around this crazy crypto world long enough to know that when prices rise too much, too fast, it's just a matter of time before the house of cards comes crashing down. In my opinion, a major correction is coming soon. I would be very careful right now if you are new to cryptocurrency or if you are a relative newbie. Don't just take my word for it. DO YOUR HOMEWORK and RESEARCH the price history of whatever coin you are about to invest in. You will see that in every case, when a token's price rises very fast in a short period of time, it will correct. (crash)
We have been experiencing an unprecedented rate of growth in the crypto world over the last six weeks. I know the lure of making allot of money in a short period of time is extremely enticing, but at this point, I would highly suggest you position yourself in a holding pattern. From what I'm seeing from my chair, a major correction is eminent in the near future.
Don't take this as doom and gloom. It is a natural short term progression for corrections to occur. In the long run, if you position yourself in the top cryptos and just hold for the next few years, you will be very happy in the end. Best of luck to all of you!
People need to remember that pullbacks in markets is not only natural, it is healthy. Markets need time to digest their moves. When an asset is stepping up, it can do so for a long time since there are period of consolidation. However, with straight up moves, the price gets ahead of itself. That is when people get panicky. The fact that people are calling it a bubble shows that there are some jitters out there. This is common after a long run.
BTC 5000 ETH 400 LTS 100...these are interesting levels to watch. I would not be surprised to see each of them bump up against those levels and pull back. Of course, when the bull is raging, I am never surprised to see it blast through walls either.
We have a raging bull..only a matter of time before he needs a rest.
Great comment and I agree with you 100%...especially with the psychological effects of benchmark prices. Thank you for the comment! Very well written and you clearly have a good understanding of how this game is played. Upvoted :-)
The game is the same everywhere. People are still people and investing/trading is all about human psychology. While the markets will change, people will not. Hence we see the same behavior repeated over and over. Greed and fear drive all markets. The key is seeing which is the major motivator in the market at each moment. Right now, we have a lot of greed going on which leads to fear.
Upvoted! Thanks again for the great comments!
cool info. i will follow you follow back
Thanks :-)