Yeah but you need to know which headlines affect the charts and which ones don't. I used to get excited when I read "Bitcoin has the potential of reaching 2 million" but quickly realized these kind of headlines don't do anything for the market. And fundamentals always trump analysis, it's important to keep both into consideration
what I learn from the top traders is by the time the news hit, and even if you are the first one to read it in the first second...it is already old news.
Also a big aws outage coincided with the plunge. But the Guggenheim announcement, the first of the month, and Thanksgiving holiday complete, this week’s gonna be fun.
you forgot the big ass drop from the beginning 2018 to 2019 and also from June 2019 to March 2020. But anyway, this may be a good entry to go long on bitcoin. I see a good risk/reward ratio here.
That’s because they were part of bear trends not bull trends. As such they are the Dominant move not a retrace of the Dominant short that the market offered during those periods.
I'm a permabull with no charting skills, but here's 2 satoshis worth on investing in bitcoin (cfryptos), just go long term. It's like a call option with no expiration. Asymmetric reward for the risk. Some people have compared it to lottery, but I think it's an unfair comparison, obviously, there's a lot of technical complexities with bitcoin (cryptos) and this new emerging digital asset. For people that have been around this space for a long time, we read half-joking reddit posts around bitcoin ever hitting $5K and higher and that it will be traded on wall street and that we'll be able to buy everything we need to live on cryptos. The network and market adoption story of bitcoin is a fairy tale. Perhaps someone 7 years ago was able to see it on the charts... This is going to sound like humble brag but I already posted it a while back of my peaks and valleys experience with bitcoin (cryptos). I "invested" in bitcoin (cryptos) using credit cards about $7K worh in 2013, saw my cryptos portfolio shoot up to over $50K early 2014, rode it all the way down for 2 years of bear market to about break even, not cashing out anything. This was painful, the woulda coulda shoulda put it in a down payment for a house. Added a couple of thousand $ worth in first 2 months of 2017, but nothing significant. Late 2017 (early 2018) bull market was life-changing for us. Cashed out enough to pay all our debts, now we're debt free, but life with cryptos portfolio representing 100% of our net worth is not exactly ride into the sunset ending. Our portfolio hit a valuation of over $800K (possibly even 1M if I was quick and I mean hours liquidation of some ICO tokens during that time) and during the bear market low in 2019, portfolio valuation was less than $80K Now, we're in the beginning stages of bull market 2020. Our crypto portfolio is worht over $800K again, but we're just hodling on. I'm hoping pfolio hits $1M in the next couple of months, but it's just a number, not planning to cash out or anything until maybe $1.5M and then cash out $100-$200K. TL;DR above, but below I'm sharing a video that I started at the point where Dan Tapiero can explain the futility of trying to time and trade bitcoin. Incidentally, I found a new kind of respect for gold after watching the whole video and recommend it others in crypto space.
Yes because the insiders always get the freshest news. But when you have a major headline like corona virus or regulation then markets will react for a while. But usually hacking news or ponzi schemes seem to have very little effect anymore.