So I heard this cool term for trying to buy near the bottom of the market called "catching the knife". You have to love the over-dramatic stock talk "when the streets fill with blood". Catching the knife means trying to buy as the market is falling and getting it at the bottom before it goes back up. And I guess I am kind of doing that but am okay if I do not hit the right amount exactly. If I miss out on a few percent and the price sky-rockets who cares long term.
Here is the problem though. The market is a giant ? at the moment. And I mean a HUGE ?. There are talks of 5k and 2.5k. Some people think the price will be 10k or 60k. Some say the market will be 0. The bottom has been called multiple times already but this time it really could be right. Or we could see another dip this week.
I am still in the market as I think crypto has a big future. I like to think we are hitting mid 5k and then the market will start to grow with a big push. But it is really hard to say. I am going to wait it out a bit personally
But that knife is coming fast.
Come on reflex skills.
Where you at?
Trying to sell my old phone and laptop to raise some cash and buy the dips
Nice just be careful with your money. Its crazy risky.
It is definitely risky and I have made some huge mistakes in this past year. I am not saying that I have learned my lesson because there is a lot to learn.
It's just that I don't see a better use of my money at this point of time. I also am willing to HODL earliest mid'19 and latest till end of '20 before I take anything out.
We all have made mistakes. As long as you can afford to lose it, i hope it works out for you :)
Thanks man :-)
I am trying to do that with ethereum
The opposite saying is from Kostolany: You leave the last 10% of potential to the idiots.
https://steemit.com/bitcoin/@noorsamad/new-ethl-airdrop-launched
I sold my sense of security for a bunch of cheap EOS
Thanks for this! I see a bottom between 5k and 6k. Im buying.
Being a risk taker, no harm in trying to catch the knife.
Yaaa i am planning to buy whats your prediction about it. @whatageek
My target price for Steem is based more on what I could use in my projects than on finding the bottom, and if it ends up being lower than we ever get I'm OK with that. I'm already reasonably heavily invested vs. my total bankroll.
I'm still pretty bearish over the next months; equities are looking like shit right now and I'm not readily buying into the idea that people are going to see cryptos as a safe haven. But we'll see what happens.
There would have to be economic collapse on a catastrophic scale for cryptos to be considered a "safe haven".
@whatageek Why do you think the bottom would be at mid 5k ?
Just a guess. I think it is 5ish and people usually get in before the number that they think it will be hits. This is not investment advice.
right I do feel that Bitcoin cannot go below $5500 since all the miners will be in loss and may even stop mining if it tanks down to even 5k or 4k
altcoins will soar after the mining close...namely xrp
1 world coin
new world order
:D
these people are viscous and vicious ...
hey geek maybe this news may bring some positive news in the market
https://steemit.com/bitcoin/@kryptoncrypto/facebook-reversed-it-s-decision-to-ban-crypto-ad-s
The thing is, with crypto, psychological bottoms or supports don't hold like they do in stocks (most of the time anyway). $5k was an interesting resistance in Aug/Sep of 2017...but is it going to be support? And I've still been trying to figure out what "fair value" really is for coins. It seems a bit arbitrary to me right now.
If you wait enough (years), any time will be a good buy. Or not. :D
Based on my long-term wave count, I reckon we'll see sub-5k.
'Never try to catch a falling knife', as the saying goes, but there's definitely a case for dollar-cost averaging and laddering in on the way down.
The bottom is close to ZERO. But no one knows how close we will come to this. You can be lucky or not. It just gambling. When listening to the "important", influencers etc. Bitcoin will be between 1 and 64,000 USD this year! That is a huge bandwith.
btc will be shorted to oblivion...you watch!
these people have access to 50% of btc...
this year btc will touch under 1000
they are going after us...in tether...they are going to shut transfer for exchanges that don't comply with their law...KYC will tax you down...
the shake off has began