I was in a Twitter Space today, listening to a very experienced trader. He confidently told everyone to short Bitcoin and altcoins, predicting that BTC was going to drop into the 90K range and that altcoins would dump hard.
Now, as we approach the end of the day, Bitcoin is pumping already trading above $96K. At this point, it’s likely that his stop-loss was hit, or worse, he got liquidated.
It makes me wonder: how do even seasoned traders still get it wrong on intraday moves?
Let me know your thoughts.
This is a clear warning of not to follow the instructions given on social media by crypto analysts about the crypto market because some can be misleading and incorrect, making you lose out on an existing opportunity you are in, of hodling your bitcoin for the long term, and not to sell it at a price someone else advised, but sticking to your own analysis of the market that Bitcoin will bounce back if its price declines.
However, how does it feel for those who sold their Bitcoin because of what the crypto trader said, I think they will regret it by now that the Bitcoin they sold at $96k is around $110k today. They are not sure they will find Bitcoin below $100k till the bull run is over.