Good Time to Invest More in Crytocurrencies?

jun2jun (31) in cryptocurrencies • 7 years ago

With a huge dump in majority of the altcoins, is it a good time to invest more in them?

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7 years ago by jun2jun (31)

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taskmaster4450 (78) · 7 years ago

Added you as a follow.

As for your question, as always, it depends upon the coin. There is a lot of junk/scams out there. However, for the top ones that are legit, yes I think any pullback is a good opportunity to buy if you are a long term holder. Certainly, we might see some more downside from here (most pullbacks last longer than one day). That said, I dont think the bear is awakened yet. The bull is still in charge and still wants to run.

I felt the big level for BTC was $6000....the pullback from $5000 is not surprising since that is a major resistance level plus I think a lot of stops were at that level. It will have to make another run, maybe even a third to bust through that resistance. Once it does, I think you get another thousand quick before maybe a stronger pullback.