To be fair, I first started trading crypto before stocks. So one time there was huge panic because stocks dropped 4% in a day. And I was like "what? That's a stable day in crypto!".
So yeah, I can only imagine the sweat and tears when going from stocks to crypto.
It cracks me up, I see people freaking out, and I'm just sitting here transferring more cash to the exchanges so I can add some more BTC to my Holdings before it takes off for real.
tldr; Bitcoin's price has fallen by about 5% in the last 24 hours, dropping to below $62,500 at its lowest, which resulted in a nearly $90 billion decrease in market capitalization. This decline follows a significant price increase the previous week and is linked to negative developments in spot Bitcoin ETFs. Notably, there was a net outflow of $154.3 million from spot ETFs on Monday, marking a shift from the previously positive average ETF flow of $481.4 million from March 1 through the last Wednesday. Grayscale's spot ETF experienced its largest outflow since becoming an ETF, with a net outflow of $642.5 million. Despite inflows into other ETFs, the overall result was a net outflow, negatively impacting Bitcoin's price.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
I thought I was to blame, I have a holiday coming up and thought "I'll buy some ETH, it'll pump in price by the time I'm going, so I can splurge more". Immediately dropped.
literally every person is waiting on 40-45 because of previous pre-halving pullbacks lol. Simply by merit of “everyone says 45k” - its not going to 45.
I’m just sad that with all of these dips I’m out of extra fiat laying around to buy with. Can it please stay down until my next paycheck or tax refund come in?
I think it's great news, it means they're as stupid as us. Let those paper hands pump our bags before they realise it's best to hold through the volitility.
Or they’re attempting to fraudulently create more BTC on the books while lowering the price to acquire more. There’s two systems, centralized book keeping and blockchain. They can’t hide the blockchain transactions, but they can sure as hell cook their books. I smell something fishy being cooked up
I knew this was inevitable. Bitcoin and crypto in general was moving up at a healthy pace long before ETFs were approved. Then it got ridiculous once they were approved as billions in net new money flowed in. Now that money is flowing out and all assets are tanking.
So, what was the net net of ETFs by Hedge Funds and Big Banks? A back door to stifle organic growth just like they’ve done with every other ETF.
Sold half my positions this morning for profit. Hoping to buy back in at a lower rate. Last cycle, I held and held and never cashed out. Lesson learned
I started talking about this 5 days ago and people downvoted me to hell. Luckily I sold when I did, got out of eth with a 300% profit and btc with 200% profit, I held both for years.
Plan is to buy small parcels on the way down and wait till the next pump. Rinse and repeat.
Don’t ever let anyone tell you not to sell. People are pumping this shit for their own selfish reasons, not because they know something you don’t.
You should sell whenever you want. There is nothing wrong with taking profits. But if it goes back up to 75k now you will have panic sold the dip/correction in a bull run.
Yeah I sold at the top this time. Also got downvoted for mentioning it felt like the top.
After seeing 2 cycles I can say people don't learn. Everyone here gets ridiculously overconfident and people start talking about going all in - that's the cue to sell.
This time I'm saving and when it's all doom and gloom, I'm going to buy as much as I can afford to not touch for 2 or 3 years.
Better hope you can buy lower than the tax hit you're going to take, which depending on your income and how long you held, can be upwards of 30%. If 30 percent is your rate, you now have to perfectly time your buy in at the bottom of a 30% correction just to break even. Good luck
Technically that's true...but:
1. The exchange a lot of the time is the buyer (and seller). With EFT that should be the case.
2. Buyers might be there (through bots) but they want to buy in for a lower price. More accurate would've been:
Just in: price of an asset falls when the sell pressure is higher than the buy pressure!
That’s what smart people do when they’re in profit. They don’t sit around hoping for a moonshot, they sell, and make money in other positions with their profit, or they wait for this incredibly predictive shit to drop, and get back in and do it all over again.
People are mooning, when people reach their goals, cars, houses, whatever, they transfer to USD and buy their thing. Not worried. Still more stable than my 401k.
I bought the top in 2021, and I held for 3 years only to make chump change. Without knowing how shit will go selling isnt that bad of an idea to buy back in right before halving.
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