Why it seems that bitcoin is most active at night in the US eastern time?
I wake up at 4:30am to an alarm from my phone telling me btc dropped from 1120 to 1050 in a matter of minutes. Then i stay awake for about an hour buying and selling during the "volatility" and place a buy order when i see that the price seems stable at 1100 and go back to sleep. Then i freaking wake up again 3 hours later after hearing my phone vibrate like crazy to find the price dump to 920!! What do i do now? Hold? Or Sell?
For those in east coast, how do you deal with this volatility during the early hours of the morning???
If you can't take this level of volatility simply put: do not be involved in bitcoin. Bitcoin is not for the faint of hearth, extreme volatility is expected. Marketcap is small so big swings will happen. If you can't take swings up 200 dollars up and dollars down then you will not make it long term. Chances are you will get trapped panic selling in one of the dips and you will not be able to buy back, or you will buy back at a loss and after a couple of times of buying back at a loss you will end up bankrupt. Buy ever dip and hold long term, its the only thing that works, everything else is a casino gamble. It went down but it could have continued going up to 1500. Right now is recovering again.