[dtube] No News - Why Dip?
With another Dip hitting crypto... is it awkward to ask why?
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Bitcoin hit a high of $20,000 in 2017 and then the speculators sold out so now as of March 2018 it has plunged to $8000. If you look at a Bitcoin history graph and put a ruler on the LOWS you will see that $8000 is the predictable Low for Bitcoin where as the $19,890/Bitcoin was an artificially high price driven by speculators. Now is the time to Buy Bitcoin to get a Fair Market Price.
This is absolutely true, When I looked at the long term trend of Bitcoin as it was falling from $20k, around $6000 was the bottom to maintain the long term trend and it pretty much bounced right off that. As we have progressed a little so does that long term trend line and as it stands now if we see a dip I see it going no lower than $7000 or probably $7200, because if it does that means the long term trend has broken which will be a huge psychological blow to Bitcoin. These are levels smart money will get in at.
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I feel the market needs to stabilize and keep going side-ways for a while now. As you said, investors have sold out and are buying back in at the low. But they won't allow the price to move up too fast or trigger happy hands will start dumping straight away.
So this is a good time for the whole market to start building up faith in the market. And sure then the market should slowly begin moving up again.
How long will this take?
imo: the slower it moves, the higher it will go...
but I could be wrong ofc
Agreed on what you said but it is tough watching value go down daily. I keep feeling like it is too low to sell and then the next day proves me wrong.
never sell unless you are a day-trader or we feel vertigo of seeing theprice so high...
but now? you should slowly accumulate bit by bit, just like smart money is doing now
Love to read your post You always come with great information and news keep it up You are doing great job dear @boxmining Great jobb thanks
This was bound to happen with all the restrictions imposed by govt. People are afraid right now.
Though it will go back up slowly but surely
This was always on the cards.
We can only hope that it rises back up soon
@boxmining nice job Thanks for sharing very informative and intresting keep sharing
Good post
you are right! it is a boring market right now!
Don't allow your guard to drop... in this boring market we can sport the good projects to come. re-evaluate our portfolio or even shuffle things around for the next wave to come.
As they say: when the tide retreats you can see who was swimming naked.
Don't hope for a fast recovery because that will only push weak hands to sell/dump
Steady wins the race. It will bring more faith in the market and prices will get even higher than ATH.
At least you are in crypto. That's already a win for sure ;-)
My thoughts is that while the Crypto space continues to be in its infancy regarding adoption and even technology, the capital will flow aggressively into the space as traditional industries and organizations realize the potential of achieving efficiencies in their operations. This will lead to human capital allocated to many projects that will improve the evolution of the technology to a level that will make it compete with traditional methodologies of delivery.
2017 was a hype-year, not an entirely rational price-rise. And Big companies announced to ban Ad's (first Facebook, then Google, now Twitter).
Positive: Bitcoin is much better fundamentally now with growing Lightning-Network and also other projects have a lot to come.