Where are the bulls? We've seen conditions that would make most bullish traders wet themselves, yet we find zero follow through on these bounces and "supposed" scenarios.
Bears are still massively in control. They tease the bulls enough to let some in and then resume normal trading. This pattern, although typical in bubble scenarios like we experienced, is still extremely frustrating as a trader. You can't make money most of the time in bear markets, and there's no bull opportunities on bounces to profit as well. It's extremely frustrating.
Now, ultimately I'd love to see cryptos keep crashing harder. Why? No, not because I'm a masochist and I want everyone to suffer. What happens if we see prices such as $100 again for 1 BTC? You bet cheap prices are great buying times. Let's be clear, I'm definitely not predicting BTC to go to $100 anytime soon (long term I do still think BTC will get phased out so maybe longer scope that could happen).
What happens if STEEM tanks for example? Then I get amazing buy opportunities, all along accumulating more wealth from my day job and increasing stack size. Remember the old Warren Buffet quote, "Be fearful when others are greedy and greedy when others are fearful". There's sooooo much FUD right now in the market, that it takes a lot to try to even come close to reversing that. Eventually we'll be at that point where people will deem it a fair and good price. This won't be experienced in a bounce though. Just like after the last crash, we will come to a long and drawn out stabilization period where people will finally agree on a fair price for crypto -- then the whole process will start over again (TO THE MOON). Once it does, you'll be glad you were greedy and enjoyed the discounted prices :D
The bulls will be back , I think there sitting on the side lines trying to get as many of us to sell as possible , They get in much cheaper and when they get back in , The sellers will be out of amo, So another leg down for now I guess
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Yep! Agree. Eventually one of these bounces will land and we will see upside when it happens (finally).
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Yep prices are really on discount now 👍 unfortunately I have no money to invest :-(
Heard also another quote some days ago:
buy when there's blood in the streets
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Yea, but how much blood? Lol -- don't want early blood and then part of that blood is yours!
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i thought in November we will see something really nice move upwards
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no one will know
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I think it's more like the bulls are just playing hard to get(who knows till when) But yeah no better way to learn about markets than live through a bear market. Gulp
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