Cryptomarket: stay calm and HODL

Bitcoin has tested the level nearing $4,000 level. What does it mean? The partner of Morgan Creek Capital, Anthony Pompliano warns, that “if you weren’t a day trader before crypto, stop trying to be one now.” Jake Chervinsky, crypto Washington based lawyer, speaks that I didn’t know anything about crypto until last year when I saw a random article about price and decided to finally learn what Bitcoin was about. Price brought me in, but there’s *nothing* price can do to drive me out. I guarantee I’m not alone. The virus will keep spreading.”

crypto market

Mati Greenspan of eToro dwells on, “now that $5k is broken, we can expect light support at $3,500 and heavy support at $3,000. If it turns around before reaching these levels it will be a very bullish sign indeed.” Crypto analyst Josef Young adds, I’ve always been vocal about not knowing where Bitcoin price will go, because no one really knows. Last year, in 33 days, BTC went from $6k to $19k. Crypto is highly volatile and unpredictable. If you have confidence in the long-term growth of crypto, patience will be rewarded.”

Bobby Lee, the brother of Tom Lee of Fundstrat Global Advisors, compares crypto and gold: “In this bear market for Bitcoin, it’s worth reminding everyone that BTC is still only one-hundredth of the value of Gold: $80 billion vs $8 trillion. Gold is worth 100 times more than Bitcoin today! What will the ratio be in 10-20 years? Will it flip, with Bitcoin worth more?”

As usually John McAfee came up with his eloquence that “I’m 73 and have seen this dozens of times in many markets. Bear markets are like Winter. It’s always followed by a glorious Spring.” At last, Andreas M. Antonopoulos concludes that “Whatever your reason for being in crypto, now is the time for compassion, patience and respect. Lot’s of people have lost lots of money recently and it is not helpful to make empty promises, share shitty memes, or criticize others’ choices.”

2018-11-21T20:20:36+00:00 21 November 2018|Tags: |0 Comments

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