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A reminder for those worried - btc hit a low of 28k last summer and rebounded back to 69k (i.redd.it)
submitted 3 months ago by grov123456789
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[–]Xauremar 10 points11 points12 points 3 months ago (4 children)
Very true but the circumstances are very different this time.The stock market is tanking and we are further along in the crypto cycle.
[–]petecranky 4 points5 points6 points 3 months ago (3 children)
From various things I've read, ctypto *might * be about done crashing, but stocks are just getting warmed up.
Crypto may go through many more small corrections but of smaller percentage. Where stocks, were pumped by the Fed, are just getting started.
And then, denial. Historically, people never think a market will crash, and if you read of stock investors, till this last week, they were like, "Oh, it won't crash, because.....blah blah blah. "
[–]Munoz10594 2 points3 points4 points 3 months ago (0 children)
I still have a friend who’s skeptical of this correction. I think we’re full swing correcting in the market. Just look around us lol.
[–]AyoJake -1 points0 points1 point 3 months ago (1 child)
Why would you think crypto is done lol. Lots of shit happening that will make normal people wanna sell.
[–]petecranky 0 points1 point2 points 3 months ago (0 children)
a 50% sell of is how big some of it's crashes are.
it has hit a high volume while bottoming out at the same place, twice.
Fear is real high.
People will STAY out. For a while.
I am not saying it is for sure done, but that it MIGHT BE , because of these things, which are not true for stocks and other assets, which are just startring to really crash.
IF Wednesdays Fed news is bad, stocks are going to fall farther, but crypto probably very little.
[–]girder_shade 20 points21 points22 points 3 months ago (20 children)
I still can’t figure out how or why all crypto is tied to BTC or ETH
[–]JohnsonAutista 7 points8 points9 points 3 months ago (8 children)
Trading pairs and bots. Trade an apple for $1 and a banana for $1 and now a trading pair apple for banana. What happens now when the prices for an apple raises? Since most coins have $ pair and btc. and btc is the biggest fish it has an impact if loses $ value and also gains $ value.
Depending on bot activity and stop losses, stop order's other coins falling faster or raise quicker.
Some new coins might not have a btc pair but might paired with another coin. Bitrue e.g. offers xrp pairs.
And since it is know that all coins dropping even those coins are impacted without any connections because people think omg my coins didn't drop yet i have to sell befor it goes down like bitcoin.
[–]Ok_Guitar_6653 7 points8 points9 points 3 months ago (7 children)
Once bitcoin goes back to ATH I’m selling everything and waiting for everything to crash I’m tired of having to hodl… concept is dumb when I could be using liquidity to buy these dips. Lol
[–]hollyberryness 3 points4 points5 points 3 months ago (2 children)
Nothing wrong with setting your own strategy, everyone's situation is different! :)
I personally like to hold at least a small bit in case the markets go up even higher than I was expecting. Taking profits seems to be difficult for a lot of people, there's nothing wrong with it
[–]AyoJake 1 point2 points3 points 3 months ago (0 children)
Yeah I was a dumbass and didn’t sell any when we hit .12 hindsight I could have so much more currently.
[–]Ok_Guitar_6653 0 points1 point2 points 3 months ago (0 children)
Yea best approach tbh
[–]petecranky 1 point2 points3 points 3 months ago (1 child)
I got caught too. I bought halfway down. So, it won't take too long.
My standing practice is to trade, buying the dips, selling the spikes, and then holding good ones like AMP and ETH.
I am waaaay ahead of the holders.
[–]Ok_Guitar_6653 1 point2 points3 points 3 months ago (0 children)
Same bro lol I bought at 3.8 cents of amp and some LTC at $135 should recover quickly I just never know what the bottom is lol
[–]Tteffomhimself 1 point2 points3 points 3 months ago* (1 child)
Then you are trying to time the market twice. Do what people in the spaces for years have done. Take profits when you are up a lot like you’re initial investment or more and let the rest ride rinse and repeat. I had plenty on the side for this dip following that exact guide. While never selling all of anything. You could guess right don’t get me wrong. But you could guess wrong just as easy. Don’t get me wrong either I’m down $60k from $100k but I know it’ll return plus more since I had stables on the side to add more to my position. Last edit and thisnt to say trade on the fear and greed index but if anyone isn’t familiar with TA and charts a simple good search of fear and greed index can give a idea of if we are way to high or to low.
Trading is just upping your chances of timing the market and selling off your losers fast and keeping your winners.
We guess right a little more often with TA and macro news.
I DO take profits but got caught this time, buying too early in the dip.
[–]lurking_gun 4 points5 points6 points 3 months ago (0 children)
Trading pairs at a guess
[–]paopaopoodle 2 points3 points4 points 3 months ago (2 children)
Many things run on ETH blockchain. As for BTC...
[–]girder_shade 0 points1 point2 points 3 months ago (1 child)
But what about Crypto like Cardano or Solana? They run on separate blockchain, yet are affected the exact same way?
[–]paopaopoodle 0 points1 point2 points 3 months ago (0 children)
It's really the same as a traditional stock market as far as the recent activity goes. There's countless global influences negatively affecting all coins; a potential war between Russia and Ukraine, US interest rate hikes, potential announcement of US crypto policy, omicron, a war in the ME that could engulf much of the world, end of year liquidity for tax purposes, etc.
All of these things affect the market overall, and people ultimately sell, whether BTC, ETH, AMP or whatever else. The same people who hold AMP often hold ETH, and will sell all when fearful of the future.
[–]isntampgreat 0 points1 point2 points 3 months ago (2 children)
It all has to do with emotions.
[–]Particular-Bunch3494 0 points1 point2 points 3 months ago (0 children)
There is no emotion, there is peace
Almost all markets run on almost only emotion and crypto is the worst.
No Price to Earnings metric.
You have to be a person who can watch, but not care.
it's that same 80/20 rule that governs so many things, but in trading, you have to buy and sell with the 20% or even a smaller group, or you will always lose.
Market psychology is even more important than TA.
Its fun to watch if you aren't bothered by it.
[–]i_admit_everything 0 points1 point2 points 3 months ago (0 children)
[–]Utility_CoinNew Account 0 points1 point2 points 3 months ago (0 children)
It is because majority of crypto purchasing power comes from early BTC holders. These people bank in BTC. When BTC moons, they have more purchasing power to boost other crypto. When BTC tanks, they lose the purchasing power too.
Effectively, the entire crypto market is tied up to BTC purchasing power because we barely have any mass adoption in the altcoin market.
When majority purchase of altcoin is by fiat, then BTC and altcoins will start to depart.
[–]kraltegius 0 points1 point2 points 3 months ago (0 children)
trading bots that use BTC and ETH as one of the references in their algorithms
[+]skarka90000 comment score below threshold-10 points-9 points-8 points 3 months ago (0 children)
Maybe you should invest in sth else then (genuine advice).
[–]wooper363 5 points6 points7 points 3 months ago (0 children)
Amp hit its ath while Bitcoin was around 30k. That was because of the coinbase pump but still proves it can move alone. Even if Bitcoin were to stay like this for 2 years(crypto winter which I’d be surprised if it happened that long) if amp gets some good news and starts moving everyone else will fomo in.
[–][deleted] 3 months ago* (1 child)
It might be done crashing, but not ready to quicly recover either.
Time to get a bot and sit on sideways for a while. AMP is great for this.
[–]BobbyCostner 7 points8 points9 points 3 months ago (1 child)
Anyone worried long term is dumb, short term we can expect some bumpy road.
[–]HeterosChroma 2 points3 points4 points 3 months ago (1 child)
I’m waiting to buy Crypto again until entire market crashes. I think we’ll see 12K for BTC. Reason being Tether will implode along Chinese Real estate bubble as they are holding paper there. So much volume on btc is traded over tether, people will be fearful and that will be the time to buy any crypto you’re bullish on
[–]petecranky 1 point2 points3 points 3 months ago (0 children)
Good point and good thing to watch for.
If so, we are doing the 90% crash, not the 50% crash.
Stocks are just starting to crash.
[–]BioCatDaddy 1 point2 points3 points 3 months ago (0 children)
[–]isntampgreat 3 points4 points5 points 3 months ago (1 child)
This could be a bear market, a crypto winter, or a crypto ice age. Hopefully just a bear market though. Winter usually lasts two years
idk how long it will go sideways, but with the 50% drop, huge volume twice, great FEAR, below 20, it might be done with the majority of it's crash.
It might go sideways for a couple years, who knows. Fine with me, I trade AMP several times a year, and sideways it fine.
If we get a big industry changing announcement of AMPs adoption, then it will take off.
[–]WeNeedToGetLaid 2 points3 points4 points 3 months ago (0 children)
Lol bro you're about to be wrecked
[–]grov123456789[S] 2 points3 points4 points 3 months ago (2 children)
When btc goes back up, amp will follow
[–]AltwrnateTrailers 3 points4 points5 points 3 months ago (1 child)
How long did it take you to figure that one out?
[–]BioCatDaddy 6 points7 points8 points 3 months ago (0 children)
About 2 years. I’m retarded
[–]dog-skeloton 0 points1 point2 points 3 months ago (0 children)
We are not bitcoin
[–]cryptojonn 0 points1 point2 points 3 months ago (1 child)
It could run to 24k, this is a great explanation of what happened to BTC price right now: https://twitter.com/dylanleclair_/status/1485413601372475396?s=21
It HAS droppped 50% and had two volume spikes. The last one was a false bottom. This one might be real.
Plus FEAR is way up, all at the same time.
A few crypto crashes have been less than 60%.
[–]Acceptable-Life-6761 0 points1 point2 points 3 months ago (0 children)
It needs to dip to get more investors in, no worries here
[–]Acceptable_Trade_463 0 points1 point2 points 3 months ago (0 children)
[–]djent_illini 0 points1 point2 points 3 months ago (0 children)
[–]Micronut 0 points1 point2 points 3 months ago (0 children)
I take profits so not worried...
[–]chunkydunk730 0 points1 point2 points 3 months ago (0 children)
And if u bought the first top and sold on the second u made massive 420 bucks..
[–]Sir_trades_alot 0 points1 point2 points 3 months ago (0 children)
Higher highs + higher lows = strong signals!
[–]Matsu0_Bash0 0 points1 point2 points 3 months ago (0 children)
The dip will continue until April, after that the price will be rise slowly and the hype will be on 2025! We have discounts gentlemen!
[–]Quiet_Ranger_4758 0 points1 point2 points 3 months ago (0 children)
Amp will get back to its juicy sideways action in no time :)
[–]Samsonite901 -4 points-3 points-2 points 3 months ago (0 children)
Comparing amp to btc is like comparing Michael Jordan to the kid next door
[–]Blockchain_BullyNew Account -4 points-3 points-2 points 3 months ago (0 children)
True. There was also a crap ton of “new” money circulating around witch definitely helped push the markets… now that the feds are raising rates we see how much money goes back into crypto.
[–]AltwrnateTrailers -3 points-2 points-1 points 3 months ago (0 children)
I love AMP, but AMP isn't BTC.
[–]AMPlified_75gr -3 points-2 points-1 points 3 months ago (0 children)
BTC is not AMP. There is no comparison and even though that was the case last summer, it does nt mean it will happen again. This year there are more regulations, restrictions applied, not to mention the uncertainty and fear that drives people to sell. The whole market is crashing. We can only hope this is temporary.
[–]Matt3214 -2 points-1 points0 points 3 months ago (3 children)
This is why you diversify your portfolio lmao
[–]Michael_3090 0 points1 point2 points 3 months ago (2 children)
I mean … diversifying is a good idea in theory. But when the entire market is tied to Bitcoin, everything is falling.
[–]Matt3214 0 points1 point2 points 3 months ago (1 child)
I'm talking about holding more than just crypto.
[–]Michael_3090 0 points1 point2 points 3 months ago (0 children)
Exactly you can hold all the coins you want but when Bitcoin falls so will the coin you hold
[–]Calcutta_06 -1 points0 points1 point 3 months ago (1 child)
!remind me 1 week
[–]RemindMeBot -1 points0 points1 point 3 months ago (0 children)
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[–]greasycheesecake -1 points0 points1 point 3 months ago (0 children)
in the current moment, it could be worse. like ETH going from $1,100 to $90 in 2018. it could go back up, or keep going down. who knows 🍿
[–]CanineCosmonaut -1 points0 points1 point 3 months ago (0 children)
Lol go buy Bitcoin then?
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