Yes-yes, this is okay for day trading, but most people here want to buy a coin and then see it shoot up and triplicate their funds.
And then, the next.
But they also want to lower their risk and therefore spread money over several coins, as if that made any logical sense - oh I guess it's either obvious, or hard to explain.
So they want high risk coins that don't ever tank, ideally, either that or nothing, and so Haejin is spending his energy telling them which coins will likely do their bidding sooner rather than later.
He tends to be optimistic, but then he thinks in long time intervals...
it's therapy, keeping the spirits high, an that;s okay as it actually DOES stabilize the market. Self-fulfilling prophecy.
We have a guy on these threads who always writes about "Massive Prophets," no idea if he's being sarcastic - but we sure have them here ;)
If you just day-trade, you can forget about all that and simply do your thang every day... I'm inclined to agree.
Once we have some stability, I'll get into that again, I wish BTC would tank real hard and be done with it NOW instead of doing these gay ups and downs...
Basically, when day trading it doesn't matter, you win two out of three and that means you constantly profit.
I just like it better when there's a general upward trend, so I don't have to place lots of stops or go into fiat overnight. I'm paranoid ;)
Thanks for the summary. What is your approach to these market cycles? Is the only reason these cryptos go up every year in their "market cycles" that the entire space is going up in marketcap right?
Compared to stock market, this is a new emerging asset class and every year it seems since 14' it's been gaining more and more speculative traders. So these charts behaving the way they do make sense, every year getting more and more extreme.
Any thoughts on the space and why these charts play out so high every year?
Yes, in essence the market cap dpes it, but theres also a certain amount of crystallized hystery going in, the FOMO of the masses - or in other words, market cap + speed = enhanced value. The enhancement being subject to inflation, rates eventually start to fall once the momentum wears off.
This is why the Dimons of this world are having serious doubts, as there are no producers behind crypto the way the see it - like there's (metal) miners actively destroying the environment, using up as much energy as Ireland, to extract the ore and steel workers turning it into the stuff others make useless gadgets from that eventually end up in a landfill.
They lack the flexibility of mind to ask themselves why Disney is a successful enterprise by creating dreams, only because that question never arose since they were born.
Disney was already there, it worked, like the FED and Allah, and so these things as well as Disney were legit. Sigh.
However they do understand landfills and appreciate the intrinsic value of landfills... so do I, as they well illustrate the human economic circle and how it really works.
Please explain what you mean by "space" - in my thoughts, the real issue seems to be time, or call it psychotime ;)