Post
Topic
Board Trading Discussion
Re: What should we do in the sideways market of Bitcoin?
by
john_nautica
on 08/07/2021, 15:47:42 UTC
Most of the market's revenue is completed in a short period of time. Most of the time it is horizontal. The sideways market is actually the best time to stock up. Normally, at the end of a sideways market, you will always feel that the window period is too short. Short positions are very dangerous because they are really easy to miss. Be able to hold Bitcoin firmly, trade on the left, do not bet on trends, and do not choose timing. Hold the currency firmly.

I agree, just holding for now seems like the best idea. If we have some spare money we could use it to trade in alt coins market. But if we don't have any other funds, we could consider just selling some of the bitcoins and start trading alt coins instead. The thing with sideway markets is that we don't know when they are going to end. There could be a sudden news of a billionaire who starts buying bitcoins in large amounts, then overnight the price would sky rocket again. Leaving at least some money in the bitcoin market secures us a profit for the next rally.
Yes, holding is the safest move also when things are really uncertain just like this. Although, I would also want to buy more coins when they are cheap at this moment, but of course after a thorough research on its potentials. These times are really tricky and one wrong move can make drastic consequences so patience must also be practiced.