Hello everyone,
How are you all? In today's blog we are gonna talk about the current market situation.
Last Night we saw a quick dump in the market where we saw the market trading at 25-30% level for a short duration of time and then the exact dip was calculated at 17-18% for most of the alt coins and currently we are trading at a loss of 14% loss levels so it means that the market has almost recovered by half in less 24 hours.
Why this happened and what I did in this downfall. We will discuss it with all of you.
The primary reason was the difference between the positions of shorts and longs and I saw this coming because the difference was quite much. One that I remember was from Binance and it 800k in shorts and 6.8 million in longs so that was a big difference and that is why we had seen this immediate crash.
Above you can see the difference at the time of writing this blog and that is almost equal to each other so we should not expect any further dump because of this reason.
Now what did I do? I simply increased my holdings I coins I believe. I bought them on time and they are all up by 10% at least. In bull market you will get many opportunities like this so make sure to keep an eye on immediate dumps as you can make quick profits in those cases.
Do not enter with a lot of money but I think 10% of your portfolio can be used to play in this situation and that is what I think should be the max playable amount. What are your thoughts?
Thank you