Hello guys, I hope you are doing great.
After almost 20 days of ranging between 7200 and 7700 BTC moved finally. Maybe this move isn't something that will make you happy but it will create the volatility that is the most important in margin trading and also it will create some interest for crypto market. The volume was very bad and it means that the interest is not so high. If the volume is big, it means that there is leading group ( in this moment bears ) but sooner or later leading group will become weak and trend reversal is expected.
I called 6k area when we were trying to cross 10k. The exact date wasn't specified because it is too hard to predict the date.
What to do now? Nothing, hold your BTC because look at this like a drop of 10% because it is actually drop of 10%. You can make 10% in altcoin market easily. You are holding some coins that are in loss 70-80% and then you are sad because of this drop.
BTC is most likely going to approach 4500-5500 area. BTC can't start big bull run without reaching the bottom. Maybe it hurts to hear, but that is our reality at the moment. Whatever big guys said about BTC at targets of $50k in 2018 it wont happen. IMO even new ATH wont be reached in 2018.
Wait for 2019 to see the real power of the BTC. That's all I can say.
Atm in the market there is depresion, panic, negative euphoria. No one is positive. Same happened in December. When I posted chart on December 17 day before big drop that BTC future is not bright I got bullied because I was creating the FUD. At that moment we had fees over $10, we had new Tether printing every single days. Billions were used for pumping. No one was watching deeper. That was a bubble.
Now when I am saying that we are close the bottom. I do not care if it is going to be 6000 or 5500 or 4500. The fact is that bottom is close. I do not believe in BTC below 2800-3000 area. Even for me 3000-4000 area doesn't look reachable but there is possibility. So, when you are already in lost, when we are " close " to the bottom, why negativity? Because we are surronded by negativity. The source of that can be the media, can be your angry friend who put all his money at the top, can be your angry wife/gf because you put your family savings into the crypto and you are now in the loss. The source of negativity can be anything. But do not forget that same happened in December 2017. You could find positivity everywhere. If you listened to them, would you be in profit? Well, probably not! That's what I am talking now. Try to leave the crowd and become individual. It is okay to listen, read or watch so advisors but being the able to trade on yourself is the highest goal you should met and work on reaching that goal. The crownd will always lose , or the majority of them so if you join them your chances are not good.
Simply, from technology view we have great BTC. The fees are too low, the lighting network is growing. Maybe you heard miners will leave us and crypto will be unstable. Listen, miners are not aliens, they are humans too. The mining is not science fiction, it is investing. You invest in rigs and you are getting monthly profit. By default it is safer than trading because it has monthly return but that return is not guaranteed and depends. So, it is safer but it is still investment. So, in December and January a lot of new miners joined because they saw huge fees, and huge opportunity for them but it was the worst time to join. The fact is that some of them will come at the point where they will have to shut down their rigs. The difficulty will drop and new ones will come. So, there is solution for everything, there is always both sides. Media will present you the one they want you believe in. I will present you the one that I believe in. It is up to you whom to trust.