Hallo Folks,
Why you should be interested in Bitcoin pairs. Simple. We are entering a new MARKET CYCLE.
The main focus ( currency ) in this new bull cycle is Bitcoin.
My main focus is to gain more Bitcoin.
Here is a reason why.
For example at some stage you have 1 ETH worth $1000.- . At the same time 1 BTC is $10.000.-
So, you have 0.1 BTC --> $1000.- / $10.000.- = 0.1 BTC
in the next few weeks the price of ETH rises. Your 1 ETH is now worth $1500.- and the price of Bitcoin rockets to $20.000.-
This means when you sell your ETH to take profits for USDT your ETH is worth $1500.- you up 50% but in your BTC value you are down 25%.
Here is why;
$1500.-/$20.000.- = 0.75 BTC.
Imagine if you would have swapped the 0.1BTC you had in the beginning in to Bitcoin at the price of $20.000.-
And you would have sold your 0.1 bitcoin you would have had $2000.- instead of the $1500.-
So as i see it;
You are down $500.-
My core advice now is to learn how to recognize in which stage the market is in. There are 4 stages.
Bitcoin stage
Ethereum stage
Large caps stage
Mid/small caps stage
Learn how and when the money flows from one stage to the other and so on.
You MUST understand these underlying market dynamics to become a better trader. A natural consequence of becoming a good trader is making money.
Back to the Chart.
The recent price action is testing the upwards TREND LINE. You don't have to worry when it ' breaks' under the TREND LINE. This is normal. instead when it breaks and the price pullsback that's a strong bullish signal.
So I wait patiently to see developing the chart when my setup is matched I take in my position.
Why you should be interested in Bitcoin pairs. Simple. We are entering a new MARKET CYCLE.
The main focus ( currency ) in this new bull cycle is Bitcoin.
My main focus is to gain more Bitcoin.
Here is a reason why.
For example at some stage you have 1 ETH worth $1000.- . At the same time 1 BTC is $10.000.-
So, you have 0.1 BTC --> $1000.- / $10.000.- = 0.1 BTC
in the next few weeks the price of ETH rises. Your 1 ETH is now worth $1500.- and the price of Bitcoin rockets to $20.000.-
This means when you sell your ETH to take profits for USDT your ETH is worth $1500.- you up 50% but in your BTC value you are down 25%.
Here is why;
$1500.-/$20.000.- = 0.75 BTC.
Imagine if you would have swapped the 0.1BTC you had in the beginning in to Bitcoin at the price of $20.000.-
And you would have sold your 0.1 bitcoin you would have had $2000.- instead of the $1500.-
So as i see it;
You are down $500.-
My core advice now is to learn how to recognize in which stage the market is in. There are 4 stages.
Bitcoin stage
Ethereum stage
Large caps stage
Mid/small caps stage
Learn how and when the money flows from one stage to the other and so on.
You MUST understand these underlying market dynamics to become a better trader. A natural consequence of becoming a good trader is making money.
Back to the Chart.
The recent price action is testing the upwards TREND LINE. You don't have to worry when it ' breaks' under the TREND LINE. This is normal. instead when it breaks and the price pullsback that's a strong bullish signal.
So I wait patiently to see developing the chart when my setup is matched I take in my position.