According toĀ correction ratios in each Bitcoin cycle, aĀ bear marketĀ typically sees aĀ 70% drop from the peakĀ down to theĀ main support line, which is theĀ 200-week moving average. This moving average forms the bottom of the bear market and is currently aroundĀ $50,000Ā for Bitcoin.
Now,Ā calculate the peak priceĀ from which aĀ 70% dropĀ would reach theĀ $50,000 levelĀ for Bitcoin.
Also, itās possible that theĀ drop percentage may differ in this cycleĀ due to adoption and institutional funds, soĀ calculate using a 60ā70% dropĀ as an average down to theĀ 200-week moving average supportĀ atĀ $50,000.
Binance is smart. They compensated me with $4k USDC last week. Since then, Iāve gained over 20% in net assets with total profit of over $821 and paid $116 back to Binance with thanks. :) Soon they will recover it all, and so shall we, God willing! #TogetherInitiative
First target should be to earn $5 from a 2x leverage position. If you can do that, you can resume your futures journey. Until then, try not to get over excited.
The biggest question for behavioural economists is whether, through intervention, the human race has or can ever manage to alter basic characteristics of human behaviour present since the beginning of times? If not, then cyclical patterns will continue to exist.
You didnt sell your BTC at 120k, but youāre selling it at 104k? tsk tsk tskā¦When you waited then, whats stopping you from waiting now? Psych is just crazy some times..