Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
⭐ Merited by JayJuanGee (1)
Guys who sold and expected to buy back cheaper might have had a few limited times that they were able to profit from such plays, but largely they ran risks and they might have had spent more time waiting for the prices to move rather than the guys who just kept buying without overly occupying themselves with prices.
It's impossible to predict the market, time the market so if you already sold your bitcoin at anytime, there is possibility that Bitcoin will only move up after that.You can expect of buying back Bitcoin at 20% lower price than your sell price but if after that Bitcoin moves up 60%, 70% or 100% before having a 20% correction, will you buy it again.
If you buy it again at that price in a correction, you will still have to buy it back at more expensive price than your sell price. This means you lost part of your initial bitcoins.
Bitcoin historical corrections from all time highs.
In this market cycle, Bitcoin shrinks its drawdowns than past cycles. Chance to lose your bitcoins from selling it is bigger than past cycles.
https://studio.glassnode.com/workbench/bf532ce2-a66b-4798-6deb-bf3ba7decc59