Bitcoin slumped down 4.32% to an almost one month low of $6,242.80 on the Bitfinex exchange, as of 8:25 AM ET (12:25 GMT).
Cryptocurrencies overall were lower. The coin market cap was at a nine-month low of $224 billion at the time of writing.
Some will claim they can see the patterns behind the movements, with the evidence of their expertise being that they’ve made money on their analysis. But we should be careful of the spotlight bias. Some percentage of people will succeed in any market shift, and with the benefit of hindsight, they’ll look back and proclaim it’s because of what they knew all along.
Many believe crypto should be up from where it is because they both believe in its future and they bought in with the hopes of riding a wave toward that future. The universe doesn’t care about your plans, though. Believing that crypto should be worth enough for you to buy a Lamborghini isn’t really an analysis of any kind.
I agree. I know a few seasoned market traders and they believe you are better off backing a horses than predicting crypto in the short term. No one knows. TA goes out the window of a whale sells or a country bans crypto . Holding rather than trading is less risky but if you back the wrong one u lose too. It’s tough. If anyone says they are profiting since January then they have a crystal ball or are very very lucky
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Bitcoin has two technical idea ,First if it goes down to 5800 and break successfully then we can see 5000 or even 4400 but on the other scenario with is more powerful is if BTC will break 6800 then 8500 and 10000 will be next target .
Thanks for your valuable opinion .
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Thanks for your comment
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