I only trade just for fun with little money and some rewards from mining and farming. I use BTC for a orientation of the general direction because it is more predictable than the alts. What I learned so far: Everyting is based on beliving. There is no real value for the coins. It can be everything in between zero and infinity. If a critical mass want to sell, it can crash hard and if the critical mass is greedy it will rise up to the moon. So "predictable" only means that you can just hope that the mass of traders, hodlers, whatever think the same and do the same. Even if positive fake news, missinterpreded real news and FUD is spread, it is visible in the charts and has a huge influence.
I am curious where this will go in a year and beyond. I think that even if it rises up to 150k this year it will fall down again next year to at least 30k and more likely to 20k and below. Even 5k and below whouldn't surprice me neigher 200k will do for a new ATH. It is all about beliving and how greedy and fearful people are. I told by girlfriend that it feels like a cage full of chickens running from one corner to another where they get scared again and again. :-D
Btw. I am sure this market is heavily manipulated. Even the "regulated" finacial markets are in a big bubble caused by greedy big players and individuals and the beliving in "only two possible directions: up and to the moon". This market even isn't regulated yet. The future will be interesting to follow. Let's have fun and don't take life too seriously. You will never get out of it alive.
I am curious where this will go in a year and beyond. I think that even if it rises up to 150k this year it will fall down again next year to at least 30k and more likely to 20k and below. Even 5k and below whouldn't surprice me neigher 200k will do for a new ATH. It is all about beliving and how greedy and fearful people are. I told by girlfriend that it feels like a cage full of chickens running from one corner to another where they get scared again and again. :-D
Btw. I am sure this market is heavily manipulated. Even the "regulated" finacial markets are in a big bubble caused by greedy big players and individuals and the beliving in "only two possible directions: up and to the moon". This market even isn't regulated yet. The future will be interesting to follow. Let's have fun and don't take life too seriously. You will never get out of it alive.
Comment:
I expected the correction since days. It was more intense than expectet, maybe because it did come in late (expected it earlier on 50k). Not sure if this is a good or bad sign and hot to asses the fast bounce back from near 42k (2nd support) to 46k (1st support). It may go further down again to the 42 - 44k range before going up again. If there happens another dump it could go way down to 30k and blow. This week can get very interesting and maybe first boring and then shocking. :-D