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Bitcoin has been acting relentlessly for the last couple of days. It has been creating ATH, going sideways for couple of hours, suddenly going down and as of now it has been trying to get back up. A typical crypto market where investors, traders are doing what they can to make some profits out of thin air. Although, all the liquidation that are occurring in the long and short position, it is wild.
Today we saw the market dip and I must say, there have been panic selling going on like crazy. The sell orders were piling up and getting all those sold ASAP. Letting the greedy folks grab them in lowest price possible.
Three types of people have been lurking in the market in the last few hours. The ones who have been panic selling and letting off their precious crypto in the market price in this current downtrend. The second ones are those who have been scooping up their favorite crypto in lower prices and bagging them up. These breeds knows the market too well. Getting their bags filled up , while panic sellers getting rid of their tokens and thinking they have maximized their loss.
Although, this stage of ups and down is crucial! If I was initiating a trade to this day as a newb, I would have sold at the bottom, as I would be trying to figure out how I would be able to save my portfolio, which has been going down rapidly. As the idea would be I need to save my asset and only than I would be able to survive and come back later. But doing so, I am sort of doing the opposite of the trend. Making my loss a permanent one. Which I would have to eventually recoup from somewhere else. A mistake made my many in the world of crypto.
In the current market condition, where big institutions are playing big, it is sort of clear that someone big will scoop up the dip and fill their bags. As we already know that big money is flowing into crypto which is acting as a catalyst in the current market.
MicroStrategy Now Holds Over 1% of Bitcoin’s Supply After Buying the Dip
Microstrategy bought the dip from the last couple of days and they now officially holds 214,246 $BTC($13.6B). Its really crazy, how money is flowing into crypto and affecting the market in a very positive way. Can you just give it a thought, how epic the scenario is, where panic selling is happening and some retail money are collecting all the crypto that you and I are selling. This money that are being devoured into the crypto, they are here for a reason. These folks probably know something which is why they are going knee dip into this market.
Although, things can go wild when this buys will flip the market. Just give it a thought, when these folks are going to take the profit off of their investments, it is going to get wild. And who knows where the market will reach when this incident takes place. Which is why always take profits and better get prepared for every situation that comes along the way.
Lets hope we get to break the 100k barrier of BTC this cycle! Choose your positions wisely and also be wise to know when to sell and when to buy. Although, it is impossible to predict where is the actual top and bottom but its easy to see where the fresh money is flowing. Follow that trend and make money along the way.
Best regards
Rehan
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