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.
If you dont like on ending up on having those regrets just because you have followed someone telling you on buying or selling this and that then there's that high chance that you would be ending up on having that kind of regret on the end if it turns out those advises and recommendations with such decisions turned out to be that a losing trade or having that negative. Its not that bad to take up some ideas or whatever their analysis that been saying but never ever consider on relying on them on which you would be basing up on what they have said and following them completely onto their decisions on which we do know that even on how veteran or expert you are on things but still it wont be giving out that guarantee that you can be able to make out that precise predictions towards this market which this isnt only talking about Bitcoin but also in other coins as well. We do know that not all of us would be focusing on Bitcoins price but also in other alternatives as well. We do know that this market is highly that unpredictable and there's no way that we can be able to predict on where it would be going. If you dont like on having the feeling of regret at the time that you do made out some investment then make it sure that you wouldnt be finding yourself be following them completely when it comes to investment calls. Experience could be obtained overtime and on the moment that you do know on what you are doing then you can make out your own decisions too basing up into the experience that you had get in the past. Its just that impossible that you cant be having that kind of progress as you've move forward or making up that active engagement towards this volatile space. It do just that really turned out that there are just that those individuals who are just that lazy on making up decisions and thats why they do end up on this kind of approach.