I think this is what they call sort of a "dead cat bounce", and the bump we just saw that took the price up to $68XX was just that, a bump in an otherwise downward trend. It's crazy, because I woke up and looked at bitcoin and we're now at $6181. That's one hell of a drop in less than a day.
Luckily I'm not an active trader and don't own that much bitcoin. And this is the main reason why--volatility and unpredictability. But I imagine there are traders getting their asses handed to them left and right. Hopefully (lol) bitcoin won't go much lower. I have my fingers and toes crossed.
I have my eyes crossed too, in case that helps Luckily I'm not an active trader and don't own that much bitcoin. And this is the main reason why--volatility and unpredictability. But I imagine there are traders getting their asses handed to them left and right. Hopefully (lol) bitcoin won't go much lower. I have my fingers and toes crossed.
. But seriously if you are in this game you gotta be able to stomach this kind of stuff day in and day out. I too was shocked to see Bitcoin near 6k today upon waking up, as things seemed so bright yesterday. But alas I don't care about intraday swings and focus more on the long term. As long as Bitcoin doesn't zero out, I say let's keep playing.