Post
Topic
Board Speculation
Re: What are your TAUGHT on Bitcoin move?
by
dezoel
on 28/08/2024, 16:46:11 UTC
Personally, I think staying away from leveraged trading is the wisest move right now instead of opening long/short orders and thinking we will make a profit. If you believe history will repeat itself, the bull season is coming, then try not to lose all your money before the bull season comes.
There are no guarantees especially in BTC. The coin will always move up and down but for the sake of those who believe that BTC will not go down for a while, the only guarantee that I see is its value is still stable at over 60k USD. I think it's been quite a long time since I see BTC here and maybe others see the same thing too, no wonder why they can have a confidence to say that BTC will not drop for a while at $56k. Bull season is I think for investors, so it's not a big deal if traders don't have any by the time it comes.

I remember a few weeks ago when bitcoin was trading above $60k and people were saying that bitcoin had a very strong resistance level that could not fall below $50k. But then Bitcoin dropped to $49kand suddenly spiked back up shortly after.
But, the question is if when did the dropped occurred? If it's been quite a long time, then that was only normal because the market works in cycle. If there is a pump or a bull, there is also a dump or a bear.