Dear everybody,
In this year, I seen that the cryptocurrency market is very bad. Downtrend is the main status. Although I always believe it will recover at the end of year but I feel worry when see the diagram of the market. What is your opinion about cryptocurrency market now? And it will recover next time?
Please share!
Thank you!
Too many people have been rekt for this year holding strong to their coins believing that it will moon soon. There's nothing wrong with that but I hope it should be a lesson that you should have risk management always so that you can reduce your losses as early as possible so that later on when the market continues to dump, you have prevented further losses and buy back again when you think the market is already done with the dump.
Everyone was waiting for a bitocoin-ETF, and the decision was suddenly postponed from August 10 to September 30. Because of this, the rate spilled by 14%. The news is essentially neutral. And then how the market reacted to it, shows how many inexperienced investors it has, how many newcomers who beat bitcoin just because they see long red candles.
Well, that's how it is. Many people panic seeing those red candles. Maybe it's just the whales who are shorting the market knowing that some would consider selling it. They are way knowledgeable than the newbies anyway so more or less, they already know what the market sentiment of the people are so that they can act upon it.