Cryptocurrency market trends I

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Abdalla

Medical specialist in diagnosing Majeerteentitis
Prof.Dr.Eng.
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In july this year bitcoin was 3k, today it hit 29k. It will crash soon, but it might hit 45k this year. The natural rate of bitcoin is around 7k. If you want a quick cash, whenever the rate is <7k, BUY it. If you're in for the long run, buy it after the crash and hold it for the next bubble in a year or two.

In just mere 6 months it grew 7x. I don't think we'll ever see such fast growth ever again.

Bitcoin reached a new height in December 2017 and it crashed in December 2018, so it took a whole year to crash.
 

Apollo

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This is the best buying strategy, if you are bullish.

If you believe this is a real bull market and not a fake out, then use this buying strategy. Do not wait for very low prices like 7k, 10k etc (like @Abdalla has mentioned). This won't happen in a bull market. This will:

If you are strongly bullish: buy at 100 day ema. YOLO.
If you are mildly bullish: buy at 200 day ema (risk of never going there)

Use this charting platform to find EMAs: https://www.tradingview.com/ (it is easy), google how, lots of tutorials.

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Currently:

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But be warned, this can also happen, fake out scenario (back to $4,000). 😱😨

 
I doubt it will drop down to 10k again only because the people holding bitcoin are institutional investors. For example, Squarespace bought 50mill worth in October.
 

Apollo

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I doubt it will drop down to 10k again only because the people holding bitcoin are institutional investors. For example, Squarespace bought 50mill worth in October.

Institutional investors are only putting 1% of their portfolio into crypto. They don't care if it drops by a lot. They will hold it for decades and it will be only a -0.75% loss for them.

They also aren't perfect, lots of them were buying in 2007 right before the 2008 global crash. Moreover, there are also shorting institutional types who like to make bank on the downside.
 
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