This is not a prediction, I'm just sharing my two-cents.
First of all, please don't get me wrong, I love Bitcoin and also the idea of decentralization. What worries me is there are too many people who don't really understand how Bitcoin and blockchain works, they are just in this market for a quick money grab. I personally don't like holding a time bomb that could drop 50% at any time. Trading has taught me a lot especially risk reward. Let's say it keeps going up and reach 22000 from current price (18920USD), it's just 15%. risking 50% to gain 15% is even worse than playing in a casino. I have to be more cautious than ever investing in altcoins because everything follows the king which is Bitcoin. Anything could happen in a market, what we can do is to protect our capital, limit the down risk and gain as much as we can. Again, trading and investing is not just a 'buy low sell high' game, if you have learnt how to analyze things by thinking about the risk reward ratio, trust me, you will become better on anything you do in your life.
First of all, please don't get me wrong, I love Bitcoin and also the idea of decentralization. What worries me is there are too many people who don't really understand how Bitcoin and blockchain works, they are just in this market for a quick money grab. I personally don't like holding a time bomb that could drop 50% at any time. Trading has taught me a lot especially risk reward. Let's say it keeps going up and reach 22000 from current price (18920USD), it's just 15%. risking 50% to gain 15% is even worse than playing in a casino. I have to be more cautious than ever investing in altcoins because everything follows the king which is Bitcoin. Anything could happen in a market, what we can do is to protect our capital, limit the down risk and gain as much as we can. Again, trading and investing is not just a 'buy low sell high' game, if you have learnt how to analyze things by thinking about the risk reward ratio, trust me, you will become better on anything you do in your life.
Comment:
I’m not callin the top, but it does looked like one and this played out well. One thing I don’t like is that almost every coin follows BTC, I’m so attempted to buy back my alts but with BTC falling, buying back alts is just not ideal. Hopefully it won’t get a lower low or in other words a ‘trend reversal’.
Comment:
BINGO!
Trade closed: target reached
