Basically every time you heard about Bitcoin in the media doing crazy things, we were at the top of a Bubble. Just like in Dec 2013, when I bought my first Bitcoin ahhh. Then the bubble burst and I walk away not understanding. Thinking that was fun but also a bit pissed that I didn't get lambo riched from it. Not ever realising what an amazing opportunity I was passing up. As it happened there were other opportunities. Bitcoin dropped in price and then shot up in 2017. Wow another bubble!
Now I give up thinking that the price will definitely correct after 1 or 2 months (lol what a stoopid guy, it's so gonna correct).
I have to consider that we really are at the top of a bubble. Not really so stoopid when you think about it, because really you are just me coming to crypto in 2013 right when the bubble bursts (just don't walk away this time budd). So the chart, ya. You see the first two bubbles look very similar (of course they doo stoopid, the universe is ). Well, I think now we are at the bottom of one of those big dips that come after the initial crash (shit I used that word, well I already said bubble like 1000 times anyway). We're going to go up into a massive bulltrap (no, this is the real bull trap guys). Well this might be, then again it might not be. May be we race to the moon muchacho what do you think ;)
I think it's better to be prepared for the (second) worst case, which is what I present here. If your bag holding hold then sell at the top of the bull trap. I'm going to ride it up to the top too. I think (hope) about 16000.
Sell. Get out. Learn about crypto, trading and how you can take advantage of all the amazing swing trading opportunities coming this year.
some "top traders" also comparing against gold (which is such a close analog to BTC at least technically), look here
Just need patience.
Not convinced this is the bottom. I'm going to give it at least till tomorrow. Bulls look weak, don't think bears have given up yet.
If it holds then we can expect rise to ?? (i think 16k). It's probably a bull trap though imo. This correction we have now is very significant, I don't see it fixing until later in the year. But my opinions are always changing with the market. I sold my BTC before the dip and now I'm waiting for confirmation either way. The market is too sketchy for me just to say "buy, it's cheap", because we could slide another 3k before bouncing. And yeah maybe we need a real bounce to get things rolling?
Like I say we might not be heading for 4k but I'm not yet sure we'll see 20k until Aug/Sept, we'll see anyhoo
and yeah "unless the dollar folds" haha you too ;)
And we know what happened then
And idk but I think this correction does not have the same kind of support as that one did.