BlocksInform
Bitcoin saw a sale on Tuesday and this morning after it succeeded in hitting the resistance. Have we seen the summit yet, or is Bitcoin coming together for another upward kick-off? Have we seen the summit at this point, or is Bitcoin coming together for another upward launch?
From its peak of about $25,250 on Tuesday, Bitcoin dropped to 5.5% down to about $23,860. Since then, he has come together and is seeking to return over $24,300 which has now become resistance. It's also the bottom of a rising channel that the price has been tracking since mid-February.
Bitcoin bulls would like to see the price regain both resistance and get into the channel again before coming back to the main attack $25,000 resistance once again.
Bitcoin bulls would like to see the price find both resistance and get into the channel again before returning to the attack of the main resistance $25,000 once again.
The perverse nature of the marketplace. Yes, every good trader has his set of metrics he uses, and personal rules he knows he has to follow.
But even the most skilled trader knows there are going to be many times when the market just seems to take the most unexpected path, as if to wreck as many merchants as possible.
Many traders are unsuccessful
According to Investopedia, only 5% to 20% of day traders consistently make money, and these are probably more likely to be those who do it for a living.
The crypto market is much more accessible to those who want to trade since it is truly global and runs 24/7 all year round. This means that many more cryptocurrencies business enthusiasts.
Perhaps we could say that fewer than 10 per cent of those who do crypto transactions will succeed, and this is particularly the case for day-trading and leverage users.
Those with poor trading knowledge will be flushed out
There is no doubt that there is potential value in some of the current crypto projects, but just as in the case of the dotcom bubble, probably the vast majority of crypto projects will not make it.
Just as in the case of the dotcom bubble, probably the vast majority of crypto projects won't do it. Investors will follow suit. Maybe we have to burn ourselves a few times before we can show some common sense and manage the risks properly.
However, all weak hands would likely be expelled from that market.
However, all weak hands will likely end up being driven out of the marketplace. Bitcoin may be considered one of the most boring cryptocurrencies as it does not have the volatility of others. Bitcoin may be considered one of the most annoying of cryptocurrencies, as it does not have the volatility of others.
