Bitcoin’s Slide Accelerates After Key Technical Level Breached

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Bitcoin losses continue

Bitcoin broke below $8,000 for the first time in nearly a month as its recent sell-off dragged on for the seventh straight day.

“This price drop is a technical move; this is where the price was before the news of China’s support of blockchain, which is not crypto,” said Joe DiPasquale, chief executive officer of BitBull Capital. “So, the price of Bitcoin is simply returning to normal. However, more downside cannot be ruled out, since the recent drop has turned sentiments to negative.”
 
This is my play/fringe portfolio. Guess which line item is crypto:
745397
I'll give you a hint, it's not the two green ones. Been waiting for it to recover so I can get rid of it but it feels like that day isn't coming anytime soon.

And it hurts when you look at what that Rhodium ETF is doing. I stopped buying more if it because I thought "surely this is a gamble and the party is over". Still less of a gamble and more profitable than crypto.
 
Hamster said:
This is my play/fringe portfolio. Guess which line item is crypto:
View attachment 745397
I'll give you a hint, it's not the two green ones. Been waiting for it to recover so I can get rid of it but it feels like that day isn't coming anytime soon.

And it hurts when you look at what that Rhodium ETF is doing. I stopped buying more if it because I thought "surely this is a gamble and the party is over". Still less of a gamble and more profitable than crypto.
Click to expand...
Be patient xD
Many 'predicted' to go down easily to $6000 long time ago. It will probably go up again. Its just when
 
_TrXtR_ said:
Be patient xD
Many 'predicted' to go down easily to $6000 long time ago. It will probably go up again. Its just when
Click to expand...

This is why I'd never put real money in cryptos, not in it's current state xD

:p

One can only hope that what I do have invested in there will make decent returns once day. Compare it to Rhodium, BTC will need to go back to $15,000 to just match its returns.
 
_TrXtR_ said:
Be patient xD
Many 'predicted' to go down easily to $6000 long time ago. It will probably go up again. Its just when
Click to expand...

BTC is high risk, higher reward.
its almost like going to the casino and putting all your chips on black, and "letting it ride"

when you win, you win big, much more than anything formal or with a big bank.
but conversely, when you lose, you lose in a large way.

but such is the nature of the beast.
if you catch the wave in the right time, you do very well indeed.
 
eg2505 said:
BTC is high risk, higher reward.
Click to expand...

It is such an extreme of high risk/reward that it is more of a gamble than a sound investment. The type of gamble you take with your excess money.

Would be nice for the dice to roll onto a winning number again.
 
Hamster said:
Would be nice for the dice to roll onto a winning number again.
Click to expand...

oh yes, agree there, but what does down, must come up.

or as Warren Buffet once said, NOW is the time to be greedy, when everybody is running away from it,
BUY now, that is how you make (short term) gains.
 
eg2505 said:
BTC is high risk, higher reward.
its almost like going to the casino and putting all your chips on black, and "letting it ride"

when you win, you win big, much more than anything formal or with a big bank.
but conversely, when you lose, you lose in a large way.

but such is the nature of the beast.
if you catch the wave in the right time, you do very well indeed.
Click to expand...

I'll go for all black if we can martingale with a good betting strategy... same for bitcoin.
Will still loose everything though xD
 
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