Will bitcoin drop lower?

bitcoin
priceprediction

#2903

Where the heck is the bottom? Im in Asia and things are winding down here at 7:20pm on Sunday. What is the West gonna do as it’s just now starting to wake up? Bottom???


#2904

yeah Im also in Asia and its hard to know what will happen when the US wakes up, although recently its led to upwards action. Do you plan to make any moves or you just want to know?


#2905

I just got outta LTC and hid in Tether for the moment. Looking to see if BTC will dive downwards, that way I can make a come up, lol!


#2906

TAs that I follow have been pretty on point the last couple weeks and are calling a dip all the way to the actual bottom around 4.8k.

If that is the case, we have a long way down ladies and gentlemen.


#2907

Why would you even sell the alts? What about just holding them? Unless you got caught in a bad swing trade, in that case if you believe in the coin, just hold it.


#2908

Thanks man…thats kinda my gut feeling as well. I don’t wanna fall for the okie doke, again like I did at the beginning of Jan.


#2909

We were talking about hodling vs selling and buying in lower. Is it smart to hodl all the way down if there is a huge price correction? That’s the point. In order to cash out into tether or fiat I would have to sell my alts first.


#2910

What is your lesson? Silly as it sounds to ask; I focus on ETH and BTC for getting into alts in the first place (mostly ETH) and haven’t had issues trading it yet. BTC going up doesn’t worry me much as you can moon with other coins. BTC going up is the goal in the end, as trading for fiat would be nicer then. Of course if BTC shoots up in contrast to your alts then that’s not going to work out well if you need to make a fiat cash out.


#2911

I learned that there is no way of ignoring BTC. It dominates the market and decides price action. So I might as well have BTC as my focus, and trade alts only to accumulate more BTC.


#2912

It depends on the nature of the crash. If there is some massive correction and you can catch it at the top before the crash, then of course. But the issue is this can hardly be reliably timed. I never sell my coins for a loss. Ever. All I care about it building my pile. I incrementally trade up based on how much the coin I like drops or increases.


#2913

Yeah this is my worry. I already nearly sold at 12k and look where we are now! The problem is when do you sell? I mean if you sold now, what would you do if it went up a few hundred dollars, would you buy back in? Thats the scary but. Looking back I guess the best time is when it is heading up and bounces of key resistance, like it did at 9k yesterday. Becuase after that bounce it hasnt got above that level and we are 1k down. So if we had sold then we’d be safe until it approached 9k again.

So what do you plan to do in that respect?

As for Alts, I’m leaving them, I cant sell all my alts, send them to GDAX and then sell all my BTC. Its just too risky if it starts going up fast as I will miss the chance to buy everything back and end in a mess. I am just thinking of selling my BTC and ETH and hoping to buy back lower. Its simpler that way. Interested in others thoughts?


#2914

Just to make sure, all we should care for is selling alts for profit in satoshi and not look at the $$ value. Correct?


#2915

But why? I mean, I’m wondering how you learned the lesson. I would think it’s self-evident because BTC is sort of the grand-daddy of the entire coin system. When it’s on a huge bull run, then the market gets pulled with it. Same thing on its way down. Not calling you blind, just wondering how this happened. You can also use ETH for most altcoin trades (I must sound like a broken record at times about it), but it’s still linked to the gains and losses of BTC.


#2916

I don’t have any answers for you. I’m probably going to hodl, just because I’m bad a timing the market. Although selling/rebuying at the right time is obviously more profitable.


#2917

Yes, because the only thing that matters is gaining the “main coin”. If you are in for the short term, then I guess you can ignore BTC or maybe ETH (if they are stable for your cash out process), in order to trade your alt for cash quickly before BTC/ETH moves around a lot on the charts. But otherwise, BTC and ETH are like your fiat. That’s how I view it. Depending how volatile ETH and BTC is depends on which I use for swing trading and buy-ins. I use LTC and ETH for moving into binance though.


#2918

Why what? Why are you going on with the questions? What’s your point? I explained it as clearly as I can. If something is “obvious” to you it may not be to me. Yes, everything has been explained to me. And so what? Humans learn through experience, not other people’s advice.


#2919

I will calculate how much negative i will be if btc goes to 6000, 5500, etc. If i get a good read on the price movement, i will sell and buy in what it takes to make up a good portion of the loss, and have extra btc in the process. But i will watch this carefully and be ready to buy at a point that i didnt expect, if i make a play on this Basically, i’m ready to hop out of a squeeze if necessary


#2920

Not at all an issue. I’ve read so many strategies, from the simple to the complex, and thought maybe you implemented something based on a fiat/alt observation or pattern rather than BTC(or ETH)/alt.

Sometimes things that seem like simple lessons are more complex. It’s like doing squats or deadlifts. There are a thousand little technique improvements for what seems like a rudimentary motion humans can perform every day, with what looks like from the outside, no real thought. Trading feels the same to me.


#2921

Yes, it’s like driving. Someone can explain to you how to drive a car, but it only when you do it yourself you really begin to learn. Same thing with crypto and trading. You have to be in market, doing trades before you really start to understand how it works. I’m learning a lot going through this crash. Made some mistakes, hopefully I will not do so again.


#2922

For sure. Any immediate plans with your portfolio? Do you like to get all out into BTC (if you day trade/swing at all) or do you hodl?