The value of the cryptocurrency has dropped by as much as 18 percent within one day (as of 11 noon). That is handsome and can not be nice. Those who took the lead in the 2017 FOMO Bullrun have since posted losses in excess of 70 percent. Nevertheless, this decline also requires an arrangement.
Bobby Lee: The four big mistakes of the Bitcoin investment
Bitcoin veteran Bobby Lee reminded us of four fundamental rules for a successful crypto-investment. Especially rule four is now more than:
Remember Common Mistake #4:
Selling your #Bitcoin during a panic crash.
If you’ve invested in #Bitcoin, then you should know that it’s a long term holding. You’re not looking for quick profits, so don’t get impacted by volatile price movements in the short term. Don’t panic sell!Bobby Lee
Most common mistakes with #Bitcoin investing:
1) Indecisive to buy
2) Not buying enough
3) Sell after small gain
4) Sell during panic crash
John McAfee: Spring is coming for winter
You can be divided about Bitcoin preacher John McAfee. But he summarizes the current situation via Twitter aptly:
“People are panicking. But that is not necessary. We are in a bear market. They are corrosive, yes. […] But I am 73 years old and have seen this dozens of times in many markets. Bear markets are like winter. It always follows a magnificent spring. “
Just wondering when.
Where is the journey going?
Nobody knows how many feathers Bitcoin leaves before the bottom has been reached. However, there are a few promising support levels where a course turnaround is possible.
For example, chart analyst Murad Mahmudov considers a $ 3,000 crash to be possible, but then conclude:
Maybe it helps to remember that the infrastructure continues to develop positively contrary to the courses. Examples include the crypto-trading desk of Fidelity , the BAKKT Futures and the approval of a crypto-ETP in Switzerland. So the signals are pointing upwards. Sooner or later, this will manifest itself in the price.