Today we saw bitcoin going near $10000 but price drops by $400 and currently trading near its support of $9500 -$9600.
In some of exchanges bitcoin crossed $10000 because of their premium pricing but in us bitcoin didn't cross $10000 and as we can see the highest of today is $9940 as per coin market cap and the lowest was $9465. The market is bleeding by nearly 5% loss.
What to do in this situation and how to be in safe side ?
Once again, i am talking about stop - loss. Stop - loss is a great feature provided by exchanges. If you don'y know about stop loss then you can read my post about "How To Use Stop-Loss". I will not talk about stop loss in my this post so better read my previous post if you want to gather more information about it.
I just want to say that better use stop loss now on your holding. This is the best time to take advantage of it Because bitcoin is trading at its support level and if bitcoin breaks it and go below, then we may see market bleeding. So better use stop - loss on your holdings.
Steem lose nearly $0.20 on today dump and same with Steem dollar.
In my case i used stop loss in my many holdings by watching their today lower low and historical data on Coin Market Cap.
Here are top 20 coins of the market and we can see all of the coins are red except some and this is because of their news. BCC and ETC both are green because both have their hard fork coming.
I have some ETC for long term but if i got good deal then i will sell them and buy again in dip. I have talked about coins news in one of my Previous Post Here
If you want to earn by doing short term trades then following coins news and events is a great option. News comes with huge pump. Better use best strategy before doing so, you can read about them Here In My Post
I hope bitcoin will cross $10000 this time and we will able to see bitcoin above $11000. This will come with huge gains. Almost every good coin will give 10% - 20% profit but if it drops then same, we will able to see more dumps in whole market.
Best Of Luck :)
Please do not take it as a financial advise. THIS IS NOT A BUY REQUEST. It is just my analysis,opinion and result of readings. So before investing in any Crypto currency, do your own research first. I will not be responsible for any losses
Thanks for reading...
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Very useful information bro! I think the way price of cryptos are rising is good for investors but this is also the riskiest time to invest because nobody knows exactly what will be the price of the crypto just one hour after buying the crypto. In this case your advice to put stop loss becomes very valuable.
Steem price has dropped significantly after rising to 4.25$/Steem to nearly 3.6$ just in a week. Let us see what happens.
As we can see that the market drops more and bitcoin is trading near $9300. If anyone have used stop loss then he/she would not care about more dump in market because he is in safe side now.
Yes, bro!
Great information. Bitcoin will again try to catch its $10000 target and this time it will cross it.
Let see.
The market seems to be recovering and may be recover much till morning.
I wish so.
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