12 Nov 06:00 - $5600
12 Nov 22:00 - $5680
The market tested the lows within 16 hr. The market is now at around $6350.
For those who are in profit, locking in the profit is safe.
For those who are not yet in bitcoin, at the least wait for a month.
Wait.
This bitcoin "investment" is only for those who in the past have been successful speculating in other financial markets like stocks, forex and futures; for such speculators, bitcoin is the next best thing after the creation of future derivatives. Bitcoin is not for those who even have lost money in stocks. If you have a track record of losing money in stocks, the chances is your lost in bitcoin would be much greater.
Those who talk about bitcoin going to $10,000 by Christmas is just fantasizing - from pure unadulterated greed.
It is pure greed believing bitcoin will go to $10,000 by year's end.
Why should bitcoin be worth $10,000? They believe in the talks by the propaganda about how bitcoin is the currency of the future...banks and governments cannot touch bitcoin and therefore there is no way it goes but
UP...
All time is the correct time buying into bitcoin.
But they forget that bitcoin cannot be a currency, but only as a medium of speculation.
Bitcoin's only worth is as a medium of speculation for transfer of wealth from the bottom 95% to the top 5%.
I will not repeat my arguments as I have already explained in my other posts that bitcoin will never bring any real economic benefits to the world.
Ask yourself. Have you read what a bear market rally is? Do you know what it means by "a bear market rally trap"? If you do not know, then you should not be in bitcoin.
The two bear market rally from lows of %5600 are deadly traps. In a bear market - meaning the market will crash from the peak of $7500 to below $3000 within, say 2 months - all these rally pulls in those wanting a "bite" of the bitcoin cake and buying on dips - it is such dips which are deadly.