Hi everyone just wanted to share my views with you. A lot of people will surely disagree with me. They definitely have the right to and I respect that. I think that we are currently experiencing and witnessing something which is completely new and unprecedented!!! This is A BRAND NEW GAME and THE RULES HAVE CHANGED !!! We are in a new era of trading where all that we might know about traditional trends , strategies etc... are all obsolete and of absolutely NO HELP. The current situation is one where we have heaps of newbies in the business who want to get rich in a matter of weeks. They do not master any technical analysis knowledge and have learned quite a few things on YouTube. The vast majority of the coin market cap is constituted of those having bought at a price higher than $6000 from early November 2017 to mid December 2017. This market is UNREGULATED so it is somehow like being back to the far west times where there we no rules at all. There are tons of market manipulation going out there and the cunning traders are making heaps of money about it at the detriment of Holders who are in a complete denial stage and who secretly are panicking because they bought at a relatively higher price and do not want to accept that the BTC market has crashed !!!. It has guys. Wake up and react before it’s too late. In psychology there is an interesting term which summarises the feeling of current holders: they are caught in a “Sunk Cost Trap”. In other word, i have spent too much to quit now and stop loss. I’d rather invest even more in total despair, to at least maintain a chance of reaching my retracement point !! Traditionally we have that impression that Holders are the good guys and others seeking to pump and dump are the bad guys. This is true in a world governed by ethics,. It is not the current state of the crypto market !!!. There is no Ethics in this non-regulated market !!! Truth is that those who are trying to convince others to hold even stronger and buy the dip are only doing so because they are freaking the hell out that they lose all their money . So the way out is to manipulate others and make them feel bad if they want to quit their position to stop loss. Basically, we can translate the move as one where the Holders, who are in an extremely risky situation, are asking others to take even more risk in buying a deep dip which no one know whether it could become even deeper, just to give a chance to the holders to get bailed out of this catastrophy that they are by all means saving themselves to name and/or admit. So tell me who are the bad guys now !!! The only ones who are really cool about this crash are initial holders who bought at less than 5 k and this represents a very small portion of the total BTC market cap. Everyone else (except intraday traders) is freaking out. There is also a bunch of whales who are intraday trading and playing yoyo with the market. They are making lots of money due to the high and unprecedented volatility and doing this AT THE DETRIMENT OF ALL WHO ARE TRYING TO BUY THE DIP. Look clearly at the latest pattern to try to understand what is going on out here. In fact all what we traditionally know does not apply in this crypto world. for instance, the reason why fib retracements and other alikes work is because of Concensus. It follows that everyone has the same reading and take more or less similar expected and reasoned decisions at some point it time and this renders the traditional market quite predictable to some extent. But here in the crpyto trading world things are different. There is only unpredictability prevailing and wise traders are trying to surf this volatility wave and i think we should either do the same or avoid being the pigeons of this strategy by taking the courage of quiting position. All new money which is brought in by the dip buying is going into the pocket of those intraday traders. Traditional holding and hoping strategy only applies to the traditional and regulated market where there is not a whole new bunch of beginners.
yeah at the moment there is to many people that have join the crypto world. and I believe the hodl period is 70 percent over. December was the when the hodl strategy worked for crypto. since all the media coverage and everyone flocking to crypto also with all theses new coins. the first cryptos are becoming less in demand because of the cheaper coins. its crazy I guess we can hope for another jump in th market but I think thats like hopping to hit the lottery. let see what time brings
Thanks to coment ia my blog @skyme
I agree with "we are in a new era of trading @skyme
Yeah...Now we are staying new era and new trading.. @skyme