Bitcoin Price - This Time is Different?
A known mistake that investors repeatedly make is thinking “this time is different.” These investors live from one headline to the next looking for reassurance “this time is different.” Their Fear of Missing Out (FOMO) leads them to ignore realism and to buy assets at very high prices. For this reason I wouldn't buy Bitcoin right now. I believe in the future of Bitcoin, but in my humble opinion it's currently better to wait for a correction and buy on a pullback when everyone else is selling. "Buy low, sell high."
Bitcoin Weekly Chart
In the weekly Bitcoin chart below I have highlighted the 4 times when Bitcoin was being traded with an RSI level above 75 in the last 400 days. The Relative Strength Index (RSI) is a popular technical indicator that can help you determine overbought and oversold price levels in the trading of an asset.
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In each of the previous 3 times a correction took place. Will this time be different?
Next dip, 15 may when the ETF dismiss the exchange of the Winklevos brothers? Or big rise if they do accept it?
Good point. May 15 is a day to keep an eye on.
I don't expect that the ETF will be approved this time. Nothing has changed since the SEC rejected the ETF 2 months ago.
As a non-trader but a long term investor i think it is just better to buy the coins from the projects where you believe in, store them safe, and don't think about them to much anymore :-) if their are some events that will make the price drop, i just see it as an good opportunity to buy some more... offcourse you can try to sell before these events, and buy more when price drops but thats a decision you have to make... i prefer just to store them and don't look at it to much instead of sell, exchange it for $/€ again and later on buy some more with the risk that the event did not cause the effect you thought it would be and you have to pay more to have the same amount of BTC again...
I personal hope forthe best- rise on BTC price :)
What if this time really is different and 1btc reaches 10000$ ?
My personal opinion is that it wouldn't do this in just one run. More likely to be in the general wave formation that most stocks follow. But if it did go all the way up in one go, it would likely be because of a SHTF situation!!!
I think the next rally will break 2000 USD. You can have a look at my analysis.
I hope it does.
I'm almost ready to take the plunge and buy exchange some Steem Dollars
no!! wait and buy the dip!
Possibly !?!?👍😊
Vires in numeris. BTC will have a great future
I buy in 1/3rds
I sell in 1/3rds
Minimize Risk
Thanks Penguinpablo for providing this information