Why is BTC not recovering now ?

[WorkingNow]

Musk said he didn't sell his/Telsa BTC however this is a really bad sign for the market (+doge and shitcoin) and ETH approaching 1/10th of BTW per coin cost are signs of bad times ahead (at least that's what happened every other cycle).

Interest goes full steam into BTC, shifts to ETH, then shifts further out in the ALTs, then either BTC goes down slowly overtime after a large slump or not.

The real danger is the bull trap, this may be it if BTC recovers to the previous ATH.

Just be weary is my advice, take profits where you can, or be ready to hodl till the next cycle.

 

[Sandman_]

im hoping this is not the end of this bull run will see over the next few weeks how things look.

 

[Fakker]

Musk said he didn't sell his/Telsa BTC however this is a really bad sign for the market (+doge and shitcoin) and ETH approaching 1/10th of BTW per coin cost are signs of bad times ahead (at least that's what happened every other cycle).

Interest goes full steam into BTC, shifts to ETH, then shifts further out in the ALTs, then either BTC goes down slowly overtime after a large slump or not.

The real danger is the bull trap, this may be it if BTC recovers to the previous ATH.

Just be weary is my advice, take profits where you can, or be ready to hodl till the next cycle.

If you bought 10k BTC when it was 51k, what would you do now?

Take small profit/loss and wait for next cycle to reinvest the 10k or HODL bearing the major loss if it goes too down before new cycle?

It's down here on how much down it goes and if it will ever recover at least to 50k.

 

[Dark Sky]

If you bought 10k BTC when it was 51k, what would you do now?

Take small profit/loss and wait for next cycle to reinvest the 10k or HODL bearing the major loss if it goes too down before new cycle?

It's down here on how much down it goes and if it will ever recover at least to 50k.

I'd probably wait till 20k before averaging down.

If it never hit 20k and bounced back to 50k, you lose nothing. If it hits 20k, you average down by a nice amount ready for the bounce back.

 

[Fakker]

I'd probably wait till 20k before averaging down.

If it never hit 20k and bounced back to 50k, you lose nothing. If it hits 20k, you average down by a nice amount ready for the bounce back.

Do you really think it may go as down as 20k?
In essence, it looks like we are taking for grant this cycle is over.

 

[MisterF]

Do you really think it may go as down as 20k?
In essence, it looks like we are taking for grant this cycle is over.

It's all speculation. It's dropped a third in value from the high, but it depends on your end game. Are you looking long term or are you looking to trade short term?

 

[Fakker]

It's all speculation. It's dropped a third in value from the high, but it depends on your end game. Are you looking long term or are you looking to trade short term?

Long/medium, say 2-3 years.

But I'm noob and if it really goes to 20k I will need to work hard on my mindset to accept I could have bought at 20k and do a 4-5x rather than buying at 51k and do a x2 in the best case.

 

[Dark Sky]

Do you really think it may go as down as 20k?
In essence, it looks like we are taking for grant this cycle is over.

Not too sure where it will go. But this was just based on what you said about buying at 50k. Averaging down starting at the 20k mark (If it was to hit that) would be a happy medium for me in this scenario.

If it didn't hit 20k, let's say it hit 25k and bounced back up, I wouldn't really care because I wouldn't have gained much averaging down from 30k to 25k.

And if I averaged down from 20k onwards, and it hit a massive low of something crazy like 7k, I'd be happy because I'd have averaged down a massive amount.

You'll never guess the price it's heading accurately. Therefor you want a solid averaging plan to cover your back. We all know it's going to go back up, it's basically a fact now. It's just a matter of when. So it's not like you'd be throwing more money into a fire by averaging down, you'd just be increasing your profits later in the game.

Nothing certain in life. But bitcoin is a bit like house prices now, it's to be to knocked out the game IMO.

 

[limez]

Why will he dump this time when prices are down ?

To waste some of her money, maybe? You know how rich people live, right?

 

[Nut-Nights]

I thought this guy was smart.

 

[Stealth Kill]

Tesla bought around 30k sold around 55-60k where is the problem? They made huge amount of money during 3 MOnths

 

[Extruser]

It is recovering quite nicely now. Hope it continues to rally to ATH

What stats are you looking at??

 

[Ashway]

Long/medium, say 2-3 years.

But I'm noob and if it really goes to 20k I will need to work hard on my mindset to accept I could have bought at 20k and do a 4-5x rather than buying at 51k and do a x2 in the best case.

Listen my friend. Its always better to regret on opportunity loss than actual loss.

I would strongly suggest to just cut your losses and wait a bit. Maybe you would able to buy it at a much cheaper rate.

What stats are you looking at??

See the time of my post. Its was rallying quite nicely at that time.

 

[barnaba1984]

It's going further down

 

[RichKIDLK]

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[Dark Sky]

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I have to say, that's a pretty good point. If elon can cause it to go up and down, imagine what the top 1% can do to it

 

[SocialManager]

I have to say, that's a pretty good point. If elon can cause it to go up and down, imagine what the top 1% can do to it

Well, the idea is that Bitcoin is still in its early days. Eventually, these things should be spread out much more. Maybe not in our lifetime though.

Hand your Bitcoin down to your family when you die.

 

[Dark Sky]

Well, the idea is that Bitcoin is still in its early days. Eventually, these things should be spread out much more. Maybe not in our lifetime though.

Hand your Bitcoin down to your family when you die.

That's true, but surely bitcoin being vulnerable to influence is scary. I get in the long run it will be less volatile, but what happens in the interim?

Let's say I use bitcoin as my main funds/savings, and Elon comes along with his big mouth. Boom, 50% cut to my savings. Therefor it's not a viable way to store funds for now, at least without a lot of risk. And using it in a transaction sense, doesn't make sense yet, the fees are too expensive.

 

[SocialManager]

That's true, but surely bitcoin being vulnerable to influence is scary. I get in the long run it will be less volatile, but what happens in the interim?

Let's say I use bitcoin as my main funds/savings, and Elon comes along with his big mouth. Boom, 50% cut to my savings. Therefor it's not a viable way to store funds for now, at least without a lot of risk. And using it in a transaction sense, doesn't make sense yet, the fees are too expensive.

Well, the problem is that Bitcoin is not a bank. It is not a savings account. It should not be an investment. It is not a wallet. It is a transactional tool. If you don't see it having value for transactional purposes, why would you use it as an investment vehicle? It doesn't make any sense. You are just speculating, and of course, speculation comes with increased risk. If it didn't have risk, it would not be a good investment vehicle, because the price to buy in would be the stable market value with little to no room for growth.

 

[KaleidoJack]

People should watch more Saylor videos and chill.