The problem with articles on bitcoin is that by the time it is published it is already out of date. Right now bitcoin price is roughly where it was yesterday. It did drop today but it recovered pretty quickly. But I guess "asset price drops and recovers" doesn't get as many clicks.
Yes. By the time the article is released, the price has swung to the other direction. That's how volatile the crypto markets are. The smart money is in the chart patterns and the internal crypto news that gives the clues.
The crypto fanatics and the "to the m0on" crowd are still quiet today because they are still hodling at >$55k - $60k and are begging Elon Musk and friends to rocket their favourite shitcoin to the moon via Twitter.
This is why when the whole cryptocurrency market crashed earlier, they were not screaming for the moon anymore, they were baghodling for dear life (again).
Almost all of these cryptocurrencies have been down since January and it hasn't recovered to those higher levels ever since.
>Almost all of these cryptocurrencies have been down since January and it hasn't recovered to those higher levels ever since.
True. But it is also true that many of these cryptocurrencies are still worth more than they were in January last year, or January the year before even with a 50% decrease from their highest point.
This is absolutely true and it benefits those who take profits off the table to accumulate and buy back in to grow these coins. It's about selling some during the mania and buying back in when the fear is everywhere.
Unless you have bought and held a huge number of coins or received a huge sum from an airdrop from the very start (and the value became worth more than >$1M+ worth of coins.) That is fine and exiting a large sum from the market during the euphoria is also fine.
For newcomers to keep hodling like that (especially in bull runs) for the large market cap coins, it does not work, which is what I'm arguing against.
