Bitcoin sold off about $5000 in minutes...

[maxinger]

Can't believe the level of trader incompetence here on ET calling for a crash to $20K (especially from someone who was celebrating when it dipped from 28K to 26K and I said buy the fucking dip, and again celebrating when bitcoin dipped from 34K to 26K and was nowhere to be seen when bitcoin passed $35K, that person knows who he/she is)

Listen up, in a bull market, you buy the f*cking dip. In a bear market, you sell the rallies.

Simple as that. bitcoin should be back above $40K this coming week, imho. Not Financial advice. I have long position on bitcoin , 13 bitcoins, so I actually have skin in the game.

Some other guys, they just like to talk shit but can't put their $ where their mouth is.

Don't worry about what other traders are doing.
They can short it massively & it is up to them.

Similarly, you can do what you want to BTC.



Personally, I don't care what other traders are doing.
They can short or long it.
I just wait for the mother of all Tulip Mania to happen.

 

[S2007S]

Can't believe the level of trader incompetence here on ET calling for a crash to $20K (especially from someone who was celebrating when it dipped from 28K to 26K and I said buy the fucking dip, and again celebrating when bitcoin dipped from 34K to 26K and was nowhere to be seen when bitcoin passed $35K, that person knows who he/she is)

Listen up, in a bull market, you buy the f*cking dip. In a bear market, you sell the rallies.

Simple as that. bitcoin should be back above $40K this coming week, imho. Not Financial advice. I have long position on bitcoin , 13 bitcoins, so I actually have skin in the game.

Some other guys, they just like to talk shit but can't put their $ where their mouth is.

Bitcoin will easily trade below 20k again and it will even trade to 15k and less....No need to try and buy these dips now because there will be a huge dip coming.

 

[HeSaidSheSaid]

I think this monster won't be stopped any time soon not even with the FED intervention, but new Covid-19 variant could

 

[virtusa]

Is it possible that bitcoin will retain its high price or we will see a dip in it in the future?

People who ask this should never trade. In fact they never trade, they gamble.

 

[MrMuppet]

I just wait for the mother of all Tulip Mania to happen.

when it happens you won't be there to short it. You never see bubbles beforehand.

 

[maxinger]

when it happens you won't be there to short it. You never see bubbles beforehand.

that might happen; I might miss a very good signal for shorting.
Or I might take a signal for shorting which ended up as a failed signal.

All these are part of trading.

 

[johnarb]

Bitcoin will easily trade below 20k again and it will even trade to 15k and less....No need to try and buy these dips now because there will be a huge dip coming.

FUD. If you actually believed your BS or you were not so scared, you'd act on it.

https://elitetrader.com/et/threads/bitcoin-price-thread.315402/page-277#post-5282600

 

[johnarb]

I don't know why start this thread just because bitcoin went down over $5000 when there's already a Bitcoin price thread discussion


Anyway, here's my 2 satoshis on what's going on on this fine Sunday (US time).

Some bitcoin powerful forces (whales?) are taking advantage of Bitcoin/Cryptos time versus Traditional Business Ops time. What do I mean? They are hunting stop loss orders. In a few hours, they will stop doing this. They may already have stopped which is why bitcoin has bounced about $3K from the low.

Why did they stop??? Very simple, they don't want to be caught with their shorts down, pun intended. When normal business hours starts, PayPal and Square will start buying a bunch of bitcoins and GBTC will start buying a bunch of bitcoins. Those guys will be awake, back to the grindstone and do what they've been doing, buying a bunch of bitcoins for their customers.

Remember, PayPal and Square are buying way more than 900 bitcoins every single day, much more than 900 bitcoins being mined.

Listen to ET (should be AT for Amateur Traders) who are calling for a crash to $20K and lose your shirt. Bitcoin is in a bull market until it's not. Trade your own plan, don't listen to me or anyone else.

 

[maxinger]

look at today btc movement; it went down about $6k.
This is one of the main reasons why I gave up investing and swing trading.
I was sitting on thousands of $ of paper profit.
within a day or two, it became negative.
Over the next few weeks, it was very unpleasant
and torturing to pass my time.

I haven't done investing or swing trading for2 decades.
Now my focus is purely on day trading.

Of course, there are people who do well in investing or swing trading.
They are prepared for such down movement.

 

[RainMaker3000]

Can't believe the level of trader incompetence here on ET calling for a crash to $20K (especially from someone who was celebrating when it dipped from 28K to 26K and I said buy the fucking dip, and again celebrating when bitcoin dipped from 34K to 26K and was nowhere to be seen when bitcoin passed $35K, that person knows who he/she is)

Listen up, in a bull market, you buy the f*cking dip. In a bear market, you sell the rallies.

Simple as that. bitcoin should be back above $40K this coming week, imho. Not Financial advice. I have long position on bitcoin , 13 bitcoins, so I actually have skin in the game.

Some other guys, they just like to talk shit but can't put their $ where their mouth is.

This is not your typical bull/bear market "issue", the more vol the higher the return rate. It showed a parabolic move in less than a month, its only healthy for it to dip to 20k then build a nice base before making a run to new highs...In my honest opinion, the dip to 20K will be a test of strength for the FOMO buyers...