The whole crypto both Bitcoin and Altcoins are fallen from Monday, February 22th, 2021 up to date February 23th, 2021. Let me tell you, why this dip?
Maybe, there are many reasons why cryptos are falling, but the main of majors downtrends is the upcoming news I read on CNBC that Bitcoin tanks 10% after Elon Musk says prices seem high. Last week, Bitcoin trading volume was 58k over the crypto market, with 1Trillion Market Capitalisation. According to the analysts, Bitcoin will hit 100k even more further than we are expecting this year. In the Meantime of writing this article, Bitcoin trading volume 48k, -10% last 24hours. Low price touched SMA 100 in four hours time frame.
Probably, It will fall down to 43k or 40.3k, in a daily timeframe of Simple Moving Average support level 30, 50. This dip permits people to buy more bitcoin instead of sitting on a resting chair watching the market chart dumping and pumping.
As a young trader and investor, I learned a lot about crypto, scammed by the scheme websites from 2014 to 2019 by investing my crypto on HYIP, MLM, Revshare websites. I left the crypto market a bit and was back again in the middle of 2020. I dip dive and study more about the crypto market, I start trading crypto in September 2020. The place where I started to learn more about crypto is Publish0x, uptrend, Floyx, and half of September 2020, I joined Torum social media platform that is connecting me to the crypto enthusiasts over the globe. Now, I know a bit of the term of risk management in investment and trading. I don't invest in scam websites anymore. If I want to buy crypto, I buy it at a low price and expecting the bull run to take profit and HODL in the portfolio. Trading strategies I used help me to make a decision whether the market goes up or down.
Back to our topic about Crypto Bearish. As for me, the dumping in the crypto markets is just a correction and allows me to buy more and HODL for my retirement as well as building a future generation.
Fety Bernard Etienne(fetinafety