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RE: Cryptocurrency Bloodbath! Sell Everything We Were Totally Wrong!
this is good I get to buy at a discount... how low will it goo...?
this is good I get to buy at a discount... how low will it goo...?
You should wait until a bottom is CLEARLY built. You can identify a sustainably bottom with methods of chart analysis. Look at the btc chart from 2013 - 2015. A BIG "U". But this time it will not take some years, but some month. Watch the vola and the sales numbers on the exchanges. They both need to be low.
This is GOOD advice. Waiting is the key point to "buying low." People are panicking and they will remain fearful for some time until the dropping levels out, which can take weeks or months. But, the collective psyche will eventually forget and other zoom upwards will happen. That is just how all markets work.
I remember when prices were high, and I was willing to pay those prices but wished the prices were this low.. So I say if you feel like you missed the boat last time they were high then here is your chance!
I've been doing some daily analysis for Bitcoin in my blog. If you're interested just click my username to see my posts. I won't link it here out of respect for @dollarvigilante.
Suffice to say, we need to work out some of the irrational exuberance that propelled BTC to the 3K level. Its a cycle that we've been through before. I've been tracking BTC since 2011, so I understand this - as does Jeff.
Def much lower
Think so too, 1 aug....?!