Bitcoin Price Correction

[Immilash]

From your explanation it was definitely a correction but sometimes you can't even know if it is just a correction or there is likely to be a serious drop. Ever since then there has been a constant drop in the price of bitcoins.

That's true, that's because the us dollar is rising, Bitcoin and us dollar are inversely corolated, if you trade the financial market you'll understand what I mean with that.

 

[Sincerem]

That's true, that's because the us dollar is rising, Bitcoin and us dollar are inversely corolated, if you trade the financial market you'll understand what I mean with that.

I'm not a trader. But I am hoping that I will soon look for opportunity to trade the financial market. But until then I am still reading and learning about how the financial market really works..

 

[Immilash]

I'm not a trader. But I am hoping that I will soon look for opportunity to trade the financial market. But until then I am still reading and learning about how the financial market really works..

That will be a good idea, if you take your time and learn you can gain a lot of things, what really matters here is to have the good knowledge, if you have it you are good to go, but if You don't have the knowledge every small mistake you'll pay it with your account balance.

 

[Agbalagbaa]

Bitcoin is not having any good value at the moment but I believe this temporary,if you are a investor in cryptocurrency I believe you'll know the right time to buy.

 

[Immilash]

Bitcoin is not having any good value at the moment but I believe this temporary,if you are a investor in cryptocurrency I believe you'll know the right time to buy.

That's true, Bitcoin is dropping but I think this for a short period of time,the price of Bitcoin will come back to normal, if you have the knowledge of technical analysis you'll know the right time to buy.

 

[Sincerem]

That will be a good idea, if you take your time and learn you can gain a lot of things, what really matters here is to have the good knowledge, if you have it you are good to go, but if You don't have the knowledge every small mistake you'll pay it with your account balance.

In as much as it is completely impossible for people to be 100-percent expert in forex or crypto trading , but at least maintaining a winning rate of 80% and losing of 20% in every trade is not a bad idea as I understand.

 

[Agbalagbaa]

That's true, Bitcoin is dropping but I think this for a short period of time,the price of Bitcoin will come back to normal, if you have the knowledge of technical analysis you'll know the right time to buy.

You are right, the price of Bitcoin will not stay that way forever, with the little knowledge I have on cryptocurrencies they don't have a stable price, it changes every second.

 

[Immilash]

In as much as it is completely impossible for people to be 100-percent expert in forex or crypto trading , but at least maintaining a winning rate of 80% and losing of 20% in every trade is not a bad idea as I understand.

That's true, there's no way you can be perfect In trading, there's a saying that says practice makes perfect but in trading practice makes you improve, that's just the truth, small losses big wins that's how we earn money in the market.

 

[Chibson]

The price correction of Bitcoin the reason it is always important to take your profit. When the price corrects you can buy again instead of holding sheepishly. You should know how to read the charts.

 

[Imran_Noori]

I have been following the Bitcoin chart in the last few days since the big recovery and today we've noticed a slight correction in the price.
The price has dropped from $57k to $53k, are you still holding on to your coins or are you making a sale at $53k ?

This needs some researches that you should do for example you need to do technical analysis, find out the demand and supply for Bitcoin on that time and then find the best time for selling.

 

[Immilash]

The price correction of Bitcoin the reason it is always important to take your profit. When the price corrects you can buy again instead of holding sheepishly. You should know how to read the charts.

That's just the truth, if you are being gready I don't really think you can earn money in the market, taking partials is very important you have to pay yourself or else you won't earn money.

 

[Chibson]

That's just the truth, if you are being gready I don't really think you can earn money in the market, taking partials is very important you have to pay yourself or else you won't earn money.

People must try as much as possible to avoid greed in order not to lose their money in the crypto-currency market. You need to make an analysis and take your profit early.

 

[Sincerem]

That's true, there's no way you can be perfect In trading, there's a saying that says practice makes perfect but in trading practice makes you improve, that's just the truth, small losses big wins that's how we earn money in the market.

Yes and we are always advise that whenever we trade and experience loss we shouldn't make any attempt to recover that lost the same day . It is much more better that we avoid trading that day to prevent trading with emotion.

 

[Lynaia]

I was surprised before i check the date this thread was posted. Many the acquire bit coin then will be regretting now. Bitcoin has continue to be dropping everyday and i don't even think it can go back to its highest high again

 

[Immilash]

People must try as much as possible to avoid greed in order not to lose their money in the crypto-currency market. You need to make an analysis and take your profit early.

That's true, if you are under the influence of greed there's no way you can earn money on this market, when I'm trading I don't really play with taking partials.

 

[Chibson]

That's true, if you are under the influence of greed there's no way you can earn money on this market, when I'm trading I don't really play with taking partials.

it will be very hard for someone who is greedy to stay profitable in the crypto market for a long time. The person may actually get lucky and make a lot of money but that greed will push him or her to lose so many of it.

 

[Immilash]

Yes and we are always advise that whenever we trade and experience loss we shouldn't make any attempt to recover that lost the same day . It is much more better that we avoid trading that day to prevent trading with emotion.

That's true, if you made losses in trading you are expected to stop for that day or week, if you made losses and you want to trade again that means you are doing revenge trading, you might do crazy things that will result your account blown.

 

[Sincerem]

That's true, if you made losses in trading you are expected to stop for that day or week, if you made losses and you want to trade again that means you are doing revenge trading, you might do crazy things that will result your account blown.

Making losses in a day I will personally stop trading for the day, it would be too far to stop trading for a week , you can still trade if you see a clear signal that signify a buying or selling order.

 

[Immilash]

Making losses in a day I will personally stop trading for the day, it would be too far to stop trading for a week , you can still trade if you see a clear signal that signify a buying or selling order.

That's true, if you make loses you are not expected to enter with the same lots size you previously use, you are expected to reduce your lots size, that's only if you want to do risk management.

 

[Agbalagbaa]

Yes Bitcoin is now correcting, not too long we have a massive drop in price of Bitcoin, if you invested your money on it you'll lose a lot, but I think this just temporary.