Be careful of Bitcoin Bulltrap
History repeats itself and the chart of Bitcoin is showing similarities with the chart of Nasdaq in the financial crisis of 2000.
See reference:
https://www.tradingview.com/…/7pUhoNrC-BITCOIN-to-4300-Bul…/
Disclaimer:
This is for educational and reading purposes only and should not be taken as an investment advice. This is not a financial advice and I am no financial advisor. Consult your own financial advisor or do your own due diligence before making any forms of Bitcoin or cypto investment.
Don't over commit to much with Bitcoin and cryptocurrencies because the fast uptrend is not a good sign of a gradual market take-off but is showing the signs of a bull-trap.
The market might be tested again anywhere in the levels of 6000 to 4000 levels till the market and media behaves itself and gradually builds the right foundation of the right foundation for a bullish market for 2018.
Simple rules to follow within the next coming weeks:
#1 Don't lose money
#2 Don't be too greedy
#3 Don't put your eggs in one basket
#4 Always diversify your positions, entry and exit strategies.
And of course, it is always helpful to research and study a lot since this is hard earned money we are talking about here.
Simple philosophies that we follow in Bitcoins Meetup
#1 Don't lose money is more important than making money
#2 Don't lose relationships to save your money
#3 It is better to lose money than to lose relationships
#4 Don't invest more than you can afford to lose
#5 Don't get yourself in trouble with other people's money
What to do moving forward:
#1 If you are not a professional trader just hold your tokens and don't get too excited with the media and youtubers shouting "to the moon". Be patient and watch the market closely.
#2 You can convert too USDT but too be honest I'm not a big fan of USDT and you might want to look at Bitshares which offers a decentralized and more trust worthy platform with their BitUSD.
But Bitshares is a bit slow compared to other centralized exchanges, but then again it is safer to hold USDT till we are clearly out of the bear zone.
Goodluck and KLMB 😄😆
Hopefully one of these days I can do a simple meetup with people who are passionate to help build our Bitcoin community in Manila and the Philippines.
Please comment and share guys if you have further information that we can learn from.
Disclaimer:
This is for educational and reading purposes only and should not be taken as an investment advice. This is not a financial advice and I am no financial advisor. Consult your own financial advisor or do your own due diligence before making any forms of Bitcoin or cypto investment.
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