My fellow steemians, it has been a few days since I wrote a post here on steemit. I would like to talk about the dump of the cryptocurrency market that has been occurring these past few days(months..).
As we all know, for every bull there is a bear. In bear markets, for every bull there are more bears(or a bigger bear-->think institutional investors). The only way you can win is if you choose the right side. Markets go up, but they also go down. You can't stay in one group forever, the market will eat you alive.
We have to understand that people are still selling off their positions from 2017. It truly was a great year for crypto and now we have to pay the price. I recommend to join an exchange where you can also short Bitcoin, like Bitmex (please use my ref link if you do), or any other exchange because we may be in for a long one.
Please read my article on the dangers of leverage if you decide to start margin trading. I hope it helps you avoid the mistakes I made.
Just because the market is going down doesen't mean we can't use that to our advantage.Trends go both ways, up and down. Waiting for signs of trend reversal can be profitable, but also dangerous. Trading in line with the trend suits the average trader better(not calling anyone average, just a thought, being humble is a virtue).
I am thinking about starting an educative series on crypto trading here on steemit. I would love to know your opinions on that. Please comment on this post so I can potentially start planning my series(even if you don't, I'll probbably do it, because I feel like writing).