RE: My view and analysis of CURRENT CRYPTO MARKET situation - SHORT TERM expectations
Hey whats up Ive been day trading for my main income source the past 3 years and i have learned a lot but obviously noone can know everything. Heres my thoughts and it goes along with some of the topics you touched upon...
The main point of my thoughts on crypto is the idea of onboarding new users. Imagine up until the day you bought your first crypto... you never cared about crypto. But after you bought it you were laser focused.
Now crypto needs to go down after it goes up. this isnt just a get rich scheme people see crypto as a tool that is supposed to get them rich when thats not the case. thats just a byproduct of investing at the right time, but you cant say you got rich on crypto if you never withdrew any of your earnings... So you need to understand that people need to withdraw their money at somepoint...
Everyone rushes to try to blame the inherant forces of darkness anytime the market doesnt go in it's favor...
The trick is to realize that cryto always goes up and it always goes down. I try to sell crytp every week, but i usually set the money aside for the pure purpose of rebuying at specific points.
One crypto goes down its a great time to sell another thats up and buy that one, as long as you have researched and feel internally that its the time to buy.
the problem today is everyone wants to copy everyone else. so when one person says things like stonks and stuff on instagram, they just will instantly buy dodge and say theyre crytpo masters,
These are almost always the same people who will lose 10 bucks and cash out.
So when the price is up 95 percent every 10 days for a month straight, you need to realize that it takes time to convice NEW people to invest. so if everyone stops buying dodge at 50cents and says im not selling till 10 dollar moon, then the price will not moon cause everyone stopped.
Idk this is probably a crazy rant but just my two cents....
if 60 - 50 in minuits scares u... then u NEED to sell. and hold that money, beccause it is gaurenteed imo that it will be happening again soon.
Its not an evil force screwing ppl over. its people taking their profit and waiting to buy back later.
hello, @crypto.piotr,
this is an interesting topic, I think that although "el salvador" managed to approve a regulation, the truth of the matter is that this country does not have the technological infrastructure to make BTC a legal tender, also international bodies do not approve this decision of "el salvador", I remember seeing in the media that a street food sale accepted BTC, my question when I saw this was how do they pay the network fees that are more than $ 20? I think this kind of actions only seeks to inflate prices and then leave thousands of investors without their money, I personally believe that if BTC fails to scale further in the digital economy (buying and selling products), other currencies will gain more and more ground and eventually, BTC will become a sentimental reserve currency, in other words only those who love the project will have BTC, they will under no circumstances sell their btc no matter if its value reaches zero.
Hi @trabajosdelsiglo
Infrastructure can be build, once there is some clarity in regulations. I would say that it's better to make a bitcoin a legal tender and then work on building infrastructure than doing it other way around (infrastructure first and then regulations).
Based on my understanding, they are using second layer to do that. Which makes transfers cheap and fast. Correct me if Im wrong.
Cheers, Piotr
hello @crypto.piotr,
As I understand it, in that country less than half of the population has access to a good Internet, on the other hand the purchase of equipment such as smartphones or computers is not something that the common citizen can afford, from my point of view if a country wants to implement a serious regulation the first thing to do is to lower taxes on imports of technology, this will allow citizens to access technological resources that allow them to create the necessary infrastructure for the currencies to be implemented as legal tender, In short, if a country allows the free convertibility of currencies into fiat money, without first massifying access to the technology, it will only serve to allow the mafias present in the country to launder money without any control, I imagine that this is the fear of the big central banks that are not willing to accept this decision of the "saviour".
I hope my answer makes sense, best regards
hi @trabajosdelsiglo
I appreciate your comment. However, perhaps you could consider using some "enters" to separate different parts of this message. Reading such a long block of text is just ... not easy. Especially since you didn't even use "." and it's all like one super long sentence.
thanks for the suggestion my friend, I wanted to transmit a lot but I think I still don't have that level with English.
Hi @joshh71390
I don't think we had a chance to get to know each other and it may be my very first time I'm reading your comment.
When you mentioned that you've been daytrading - I expected to see some content related to it being published by you. However, it seem that you don't post about those kind of topics?
You've nailed it. It's hard to claim that we've earned anything, until we learn to take profits. I've learned it hard way in 2018.
I don't think "blaming" is what everyone does. Based on my experience, many investors are focusing their efforts on understanding possible reasons for pumps or dumps happening. And they are doing their best to adapt their strategy to those events.
I enjoyed your crazy rant :)
Let me also add: those few years (since I joined crypto space) touch me that whenever greed is sky rocketing and confidence towards future price (either it's trend upwards or future drop) would be very strong -> that is the time when some large players would go against it. Knowing that many investors over-leveraged themselfs. Knowing that by triggering those liquidations they will transfer enormous amount of wealth from over-leveraged people to their own pockets.
Hope I'm making sense.
Have a great weekend ahead of you,
Cheers, Piotr
thanks for your response I dont really talk to much about trading openly for a few reasons.
One if someone isnt directly asking you something about crypto trading then people arent very happy to take your advice ive learned.
and 2. i think i might have tried a few times back in the day to make some posts and I was blacklisted by markymark so i nevver posted about it again.
but long story short heres the type of trading Ill do. Tron compared to last week is up. I bought a good ammt back when it dipped to 0.07 cents because i had sold some at 0.09.
I was waiting and lastnight i saw tron hit 0.118 on poloniex.org which is one of the tron dexs.
So i sold 10k trx for 1180 and sure. the price will probably go up before it goes down. but from my previous experiences ive learned to not get so one track minded that it has to go one direction right now and I can wait for it to go back down to the 0.09s or 0.08s . for a quick easy 20 / 30% gain and while I wait for that to happen i do other things like this post. work on my javascript skills all of that good stuff but the trick is just to not have that ohh im gonna be rich / ohh the illuminauty is trying to bankrupt me. just have that I know the price will go up and down eventually mentality and wait for it.
long story short always just make your next move off the last one dont keep making a new strategy every day because u didnt get rich in one day ppl find a method that works for you not just some youtube video that you saw and need to emulate. Do things because you personally understand the logic behind your ideas and if you were a 10 year bull on btc dont let 60 minuites of priceaction change your ten year outlook on the currency
I've learnt a lot from your post thanks much.
Thanks @joshh71390 for being so responsive
I appreciate it greatly.
I'm sorry to hear that. Themarkymark is a very unique and aggressive user. Best is to avoid him at all cost.
Are you a programmer yourself?
ps.
Allow me to introduce you to our recent partnership with small korean team of developers. I'm helping them to get some exposure to their upcoming project.
Check it out here: https://steemit.com/hive-175254/@crypto.piotr/finally-i-m-safely-back-to-malaysia-with-new-ideas-and-partnerships-coming-must-read
Cheers, Piotr
well its been my main focus Im a jack of all trades but i think ive been skating around the idea of JS development for so long... I have always been able to get stuff running and make little changes. but ive been trying to put atleast 3 hours a day just to javascript tutorials. I actually run -> steemegg which was my first little project.
I have noticed you have been rebuilding some of the old infastructure and I want to make some big moves its just hard when theres such little other development.