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 why we don't have to depend on speculators before we trade or invest in cryptocurrency. Predicting the crypto market is all about experience and market analysis. You don't have to depend on these social media analysts since they can easily deceive their followers and act against the predictions given to them. Trading is so it yourself not depending on others to do the analyse for your before you trade it invest in cryptocurrency.