Crypto's Everyday Dip is Becoming Frightening.
Hello there!
Welcome to ML-BLOG, and I hope you are enjoying your weekend. This is a key question because I can't say I'm making the most of mine with the crypto red market scaring the hell out of me.
When it comes to trading, we all know there are good and bad periods, but we try to balance the equation and make our trade profitable. I've been waiting to purchase the dip, as is customary for crypto traders, but it appears that the dip is now the order of the day. Just when you think you've secured a decent deal, the market takes another dive, leaving you to hope that it will recover.
You know, I kept asking myself if I had all this in my head, because it might be true that I'm over-thinking things, but I don't think such is the case. Just yesterday, I had a fellow crypto trader, who happens to be my friend, call me and say, "Hey Martin, I think I'm getting off the crypto market for now because I can't face the dip I'm currently seeing."
This actually brought me some kind of relief. At least I knew I wasn't over thinking things. I can't help but ask the question. What the hell is happening? Just a few months back, there were predictions of Bitcoin getting to 100k. Right now, it seems like a 100k prediction has become an impossible thing to think about.
This Era of Dip Just got more Scaring
At the moment, nothing scares me more than seeing Bitcoin at $34 dollars price tag. Just four months ago, we experienced the price of Bitcoin at $50k dollars, seeing the current price now only makes me think that BTC is moving in its halving direction.
Take for example, Solana and Ape coin has achieved almost 100% halving. Just last two weeks, Ape coin was valued at $24 price tag which I queried myself for not getting some of it because I watched it grow from $11 value to that $24 value. I guess there was really no need to rush as the whole is almost back to where I saw it few months back.
Same goes for Solana which just last month hit the price of $125 and has in less than a month dropped woefully to $77.
I can't help but that think this is the right time to focus on long term project such as polycub because it seems embarking on short term trading now is suicidal. Speaking of polycub, I received some kind of relief seeing polycub make 18% gain yesterday. At least that gave me the hope that there's light at the end of the tunnel.
Anyway, I just felt like discussing my fears after seeing the dip. Not that I don't know it's normal for crypto market but even at that it doesn't make it any less scary. What is left now is to patiently wait for the era of bullish markets to return.
Thanks for reading
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There is one old, Soviet cartoon called "Kitten named Woof!.", where everyone was asked to be afraid of the whole, friendly company, lol. Do not be afraid.
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I'm just going to stay off the market for now
https://twitter.com/AnointingAzubu3/status/1523232439862136832
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if you look back over the history of bitcoin you will see there are frequent drops and then it soars to new heights and pulls the other cryptos along with. Last year was a nice bull market and bitcoin soared for a while. Now it has gone bear.
This is a patience and fortitude game. Wasn't so long ago we went through a 2 year bear market. Don't fear, what goes down will come up.
i needed this confidence to carry on. Thanks very much. ❤️