Cryptocurrency: It Is Volatile So Expect It

▶️ Watch on 3Speak


We saw a big move (down) in cryptocurrency this weekend. It is something that caught many off guard. According to the post of some, it really rattled newer people.

In this video I discuss how we should expect moves like this. It is a part of cryptocurrency and something we either accept, or leave. The market can make 10% or 20% moves very rapidly. For this reason, I tend to view things long term.


▶️ 3Speak

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Yea the volatility was expected but I wonder how many people will still have diamond hands if that prediction of 60% drop occurs.

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That is a rough one but certainly not uncharacteristic for Bitcoin and crypto.

It will likely happen at some point.

Just keep stacking is my answer.

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It was a good chance to buy the dip!

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For those with the long term view, that is the case.

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This market will have many more like this one on the way up. DOGE is at the moment showing the way. Looking at its chart I realize my portfolio hasn't gotten parabolic yet.

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LOL that is true. Anyone holding things other than that have only had mild gains.

The bull run is far from over in my opinion. Too much going on right now.

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I mean it wouldn't be crypto if there wouldn't be any crazy swings, it's like complaining the weather is unpredictable :)

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LOL true on that.

Yet there were a bunch of people commenting about how they were feeling very down because of the pullback.

Newer people most likely.

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For this reason I have learned some lessons:

  • Don't invest more than you are willing to loss
  • Keep at least 50% USDT in your wallet
  • Set a target and never sell with loss
  • Finally Patience and Patience

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3Speak down again, perhaps I'lll try again later. But I get the gist… one needs to ride that crypto wave! ;)

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They said it was up on their discord...as of an hour ago. I havent checked though.

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Summary:
In this video, the speaker discusses the volatility of the cryptocurrency market, emphasizing the importance of long-term investment strategies and being prepared for significant price fluctuations. He highlights the differences between investors and traders, noting that traders can benefit from volatility but regular investors should focus on a long-term approach. The speaker mentions the recent drop in Bitcoin's price, stressing the need to stay calm during market fluctuations and maintain a focus on long-term goals. He also talks about the potential for exponential growth in the cryptocurrency market but reminds viewers that pullbacks are a natural part of market cycles.

Detailed Article:
The video begins with the speaker delving into the unpredictable nature of the cryptocurrency market, especially during weekends when major price movements can occur. He emphasizes the need for individuals, especially newcomers, to understand and accept the high volatility inherent in the crypto space. Drawing a comparison between stock and cryptocurrency price drops, he highlights how a 10% decrease in a stock may raise concerns about accounting scandals, whereas in cryptocurrencies, such fluctuations can happen in a matter of hours.

The speaker distinguishes between investors and traders, pointing out that traders thrive on market volatility to make profitable trades based on various metrics and indicators. In contrast, regular investors should maintain a long-term perspective and focus on gradually building their portfolios despite market swings.

With Bitcoin as a key focal point, the speaker mentions the recent sudden drop in its price by around 20%, followed by a rapid increase in value. He underscores the importance of understanding that the cryptocurrency market can move in both upward and downward directions, with Bitcoin's performance often influencing the entire market.

Discussing future market trends, the speaker acknowledges the ongoing bull market and the potential for further growth, although he does not dismiss the possibility of a subsequent bear market. He mentions a speculative prediction of Bitcoin reaching $250,000 before retracting to $100,000, highlighting the unpredictable yet characteristic nature of cryptocurrencies.

Furthermore, the speaker talks about exponential growth in the crypto industry, stressing that while pullbacks are inevitable, the technology and infrastructure supporting cryptocurrencies have expanded significantly. He mentions lesser-known cryptocurrencies that are currently under the radar but have the potential to gain traction in the future, alongside established players like Bitcoin and Ethereum.

In conclusion, the speaker encourages viewers to remain optimistic about the future of cryptocurrencies despite market fluctuations, reiterating the importance of patience, long-term planning, and an understanding of the market dynamics.