Has everyone marked themselves safe from the crash??? Gonna give a pep talk today - seems like it's needed.
The Bull Run is not over. Nothing has changed. Liquidity is low - There are not a lot of Bitcoin available to trade, conversely there is a lot of money out there. Wild swings are to be expected.
My price target for Bitcoin is still $400k in this run.
Look at the 2017 bull run. There were 5 drops over 30% during that run.
Jan 4 high 1,139- Jan 7 low 751- Price drop 35%
March 10 high 1,350 - March 25 low 891 - Price drop 34%
May 25 high 2,760 - May 17 low 1,850 - Price drop 33%
June 11 high 2,967 - July 16 low $1,830 - Price drop 39%
Sept 2 high 4,488 - Sept 15 low 2,972 - Price drop 34%
This is why I've been writing that Bull Markets are much more stressful than Bear Markets. You go from feeling like - I'm gonna be rich I never have to work again - to a week later thinking - I'm ruined I need to get a second job. Many people get shaken out along the way and end up losing money.
When this run is over if you held - people will tell you how lucky you were to get Bitcoin at $30k or XRP at $1 as if, if they would have bought at those prices - they would have held till the high - when the truth is they would have gotten shaken out a dozen times before the high.
Buy low - hold - sell high - simple right? Simple but not easy - like saying - all you have to do is swing the club (bat) and hit the ball. Few people can actually do it.
The advice I give to my friends is this- Buy the Dips - Don't use Margin - Don't use stop losses - Don't sell.
I really don’t understand why the forum has been getting so heated lately when we are doing SO WELL after YEARS of being in the gutter. You’d think everybody would be saying hello, good morning, how are you? Oooh everything’s fine thank you for asking, how about you sir?
Instead we get incessant fighting from what I can only imagine to be either children (teenagers), and very young adults. The old timers get caught up in it too!
Just automatically ignore them, don’t even respond, it’s a waste of time, it spoils the mood and it detracts from an otherwise good thread. That stuff can seep into your personal life and ruin your day. I’d rather not. I have nobody in my ignore list as I’ve never felt the need, I just typically ignore the post altogether and read the useful/relevant ones. We’re all in this together guys, let’s not pay attention to the new people who come in just to start fights and ruffle feathers.