Litecoin has been going up since mid december and boy am I glad I did not buy! I have been telling people to stay away and look at other markets.
Crypto is most likely either dead and going to continue slowly going down as dumb money holds on their bags, or even if it were to bottom, it would be dead for years before going anywhere (slowly).
"Oh but you missed out you are just salty you missed out!"
While Litecoin was bouncing at snail speeds I had time to take 5 similar swing trades (with reward:risks between 1.5 and 3).
Gold (lose)
Copper (win)
Dow Jones (lose)
Gold (win)
Swedish Krona (win)
Compare Litecoin, a bagholder retail market, to Gold:
Why even trade it?
Compare 1 minute charts:
Bitcoin
Now the Dax
Now Litecoin
Now the Dax again
Now Bitcoin again
Now GBPUSD
Compare 1 hour charts:
Litecoin
Now the S&P 500
...
Why would anyone trade crypto's when there are way better things out there?
Unless you run a pump and dump group, it's just so boring.
There are no news moving markets, no big companies or central banks,
just 1rst time investors bagholding and praying every day they won't lose
all of their money, and traders that have been in the game 1 year or less
and never saw anything else.
Cool, so the volume is going up and the price is accelerating.
Well it also did this in 2015 and then it remained flat for almost 2 years.
And it went straight up back then, it did not slowly accelerate with several sell days and divergence like now.
If the price falls, it MIGHT fall fast, but there is no guarentee, it probably goes slowly, we're talking about a market full of retail investors that have no other experience and have been in for 1-3 years, and the kind of people susceptible to regret, to the "HODL" scam. At least with Bitcoin there are big miners that might have to sell whether they like it or not. But most crypto's only have complete baggies left, and they never sell. They literally h0dl to zero.
If you look into other markets at least you have the near 100% GUARENTEE something will happen. Money is always moving around, things are always happening, successful people always look to beat inflation, they don't sit and baghodl for years (they would not be successful if they did...), so it is certain things are going to move!
Brokers usually open accounts within a few hours.
Staying in crypto is just dumb. Makes no sense.
People involved are ultimate noobs. Even shorting isn't good. It is highly likely the price only very slowly goes down and morons involved keep calling the bottom.
Maybe it would slowly go down like often happens, then ultimately a cataclysm and it falls 90% in a few days, but how long before that happens? 3 months? 3 years?
No idea! So then it's barely better than gambling blindly.
Say you risk 2%, you target a 90% fall which would make your account grow by 6%. Sooo... you make 6% in 3 years? Isn't it better to risk 2% to make 4% 2.5 times a month 40% winrate so 2 wins 3 losses in 2 months or up 2% or 26% a year or double your money in 3 years.
And if you risk more in crypto, then consider you risk more with other things duh.
Crypto is most likely either dead and going to continue slowly going down as dumb money holds on their bags, or even if it were to bottom, it would be dead for years before going anywhere (slowly).
"Oh but you missed out you are just salty you missed out!"
While Litecoin was bouncing at snail speeds I had time to take 5 similar swing trades (with reward:risks between 1.5 and 3).
Gold (lose)
Copper (win)
Dow Jones (lose)
Gold (win)
Swedish Krona (win)
Compare Litecoin, a bagholder retail market, to Gold:
Why even trade it?
Compare 1 minute charts:
Bitcoin
Now the Dax
Now Litecoin
Now the Dax again
Now Bitcoin again
Now GBPUSD
Compare 1 hour charts:
Litecoin
Now the S&P 500
...
Why would anyone trade crypto's when there are way better things out there?
Unless you run a pump and dump group, it's just so boring.
There are no news moving markets, no big companies or central banks,
just 1rst time investors bagholding and praying every day they won't lose
all of their money, and traders that have been in the game 1 year or less
and never saw anything else.
Cool, so the volume is going up and the price is accelerating.
Well it also did this in 2015 and then it remained flat for almost 2 years.
If the price falls, it MIGHT fall fast, but there is no guarentee, it probably goes slowly, we're talking about a market full of retail investors that have no other experience and have been in for 1-3 years, and the kind of people susceptible to regret, to the "HODL" scam. At least with Bitcoin there are big miners that might have to sell whether they like it or not. But most crypto's only have complete baggies left, and they never sell. They literally h0dl to zero.
If you look into other markets at least you have the near 100% GUARENTEE something will happen. Money is always moving around, things are always happening, successful people always look to beat inflation, they don't sit and baghodl for years (they would not be successful if they did...), so it is certain things are going to move!
Brokers usually open accounts within a few hours.
Staying in crypto is just dumb. Makes no sense.
People involved are ultimate noobs. Even shorting isn't good. It is highly likely the price only very slowly goes down and morons involved keep calling the bottom.
Maybe it would slowly go down like often happens, then ultimately a cataclysm and it falls 90% in a few days, but how long before that happens? 3 months? 3 years?
No idea! So then it's barely better than gambling blindly.
Say you risk 2%, you target a 90% fall which would make your account grow by 6%. Sooo... you make 6% in 3 years? Isn't it better to risk 2% to make 4% 2.5 times a month 40% winrate so 2 wins 3 losses in 2 months or up 2% or 26% a year or double your money in 3 years.
And if you risk more in crypto, then consider you risk more with other things duh.
Litecoin of course is following, but not as bearish as BTC
Idk maybe long Litecoin and short Bitcoin, win no matter what direction things go.
I thought about this last year, I was more involved in crypto and BTC ETH and LTC were taking turns one of the 3 was selling/buying before the other 3, then it would lag behind and another one would be before it.
Right now Litecoin is more bullish than Bitcoin, but next dip if we go to 1k-2k Bitcoin will bounce I believe the most, and Litecoin ETH will just slowly follow.
That market thought. Every week end it's the same story.
Well not all the time, but often I feel...
I can't see any trades here, but people are super busy talking about it, please enlighten me, how do people trade this. I literally have no idea, maybe there is a trick I do not know of?
I think alot of people mistake investing and trading, well ok buying cryptos technically is not investing but I mean holding for months or years.
Litecoin is stronger than Bitcoin, but not that strong compared to the past.
Note how in these 2 examples the price fell back down and remained flat for over 6 months.
Looks like it's about to get boring boring boring.
I'm going to wait a few more weeks I really want to buy when crypto falls another 50% if it does, otherwise I'm just wasting my money that I could be compounding elsewhere...
You're supposed to not risk more than 2% a trade, ok with swing trading you might want to go to 5% 10% if you're crazy, if crypto makes one move in 6 months you will make like 5% a year, awesome! Even with full wins you'll be capped at idk like 15%.