This chart is giving perspective how strong bulls have been over these years. In fact as you can see in the chart that current fall in the value isn't the greatest fall after all.
Many of you are wondering and asked from me why the value of bitcoin has dropped so critically and rapidly? While there are not any clear reasons behind why bitcoin's price has dropped so quickly. But this fall has been boosted by the negative news from Korea, Regulatory Of Crypto Markets and a great deal of negative press.
Whatever the reason is for the fall. It is important to focus on the future and learn from the past. There have been some worse scenarios in the past too and yet the price has managed to recover!
AS the history proves that there is something to LEARN from this:
Don't panic, relax and zoom out.
When "Crash" happens, this is likely a buy opportunity
Even you would buy from the top, value is likely getting back to the price you bought it from.
These markets are very emotional and very volatile. If you are wanting to learn to trade these markets properly, then it is important to learn the psychological aspect of trading in these markets.
Previous years have been great for bitcoin and let's keep HODLING in the following years too! If you need any help with trading, recommendations or where to search basics just feel free to leave me DM in here or in my twitter. I try to respond ASAP! :) Happy trading! Things to Remember:
Stop-loss orders are strongly recommended.
Beware of buying tops or FOMOS, you might end up losing or waiting long periods of time before getting anything back.
Do your homework before investing.
DISCLAIMER: Please be aware I am providing this trading information for your benefit and insight to my trading strategies. You are responsible for your trading and investing decisions. It is highly recommended to do your own research before investing anything. Yarr
The next rally (if it happens) is going to be very unhealthy for the crypto market. But I'm hoping on it.
It's fueled by vengeance of previous losses, overly optimistic applications, bewildering dreams of being a millionaire, the be all and end all of "get rich quick schemes".
Headlines like "Bitcoin the unkillable asset" will run rampant.
It doesn't count if you don't learn how to take profit !
yarr
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@hosweetim89, proper money management is what involves taking profit! I agree with you and so many has to learn to do this!
HorseyTim
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@yarr, Even if I do take profit at the next ATH its important that I have the financial maturity to hold onto it. Lots of people who made a huge windfall (either through inheritance, winning a lotto, etc.) have their lives utterly annihilated. That's the irony of wealth.
cmschlch
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I like that chart. It shows: it's always a matter of perspective.
Thank for helpful information. I am a new comer. I lost 67% but I keep hodling btc and altcoins. I wonder how much the stop-loss order should be in general.
oetcap
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@tienpfiev, you are down 67% you haven't lost it until you sell.
yarr
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@tienpfiev, You are very welcome! It is important to learn proper money management and it is totally dependent on your trading style how much the stop-loss should be. I recommend to search the following: "4 Types Of Stop Losses - BabyPips" - Babypips is really great website and telling you basics of trading. Happy trading! :)
ribame4
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i like the chart , this chart also shows why is dropping so hard , for my opinion last year bitcoin BIG Bounce and thats way we see now BIG correction i am not expert but if Goverments not Blocking this Bitcoin i believe it will be again 20000 dollar and more , but only worry me goverments , and if i know a lil bit about goverments , if you pay their tax they can allow you even kill yourself ( example cigarette )
they just want check the system and they just want Money from this market thats it , when they make it this thing will be more safe
yarr
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@ribame4, Thank you for your feed back! Yes this is true and something I totally agree on. AS seen in the past China has been trying to spread negative news from bitcoin but it has always rallied afterwards. In the longer term I'm still bullish.
It's fueled by vengeance of previous losses, overly optimistic applications, bewildering dreams of being a millionaire, the be all and end all of "get rich quick schemes".
Headlines like "Bitcoin the unkillable asset" will run rampant.
It doesn't count if you don't learn how to take profit !