Bitcoin continuous downward movement

Things are not good at all currently as bitcoin has today continued the slump. We wait to see how it will end

blame china and Musk

Could be that guys pulled out in order to pump AMC/GME etc

bitcoin niliwaambia muingojee at 10k which is a higher high on a very large time frame, then wait for consolidation again over several months

Bitcoiners wanafaa wa short Tesla shares. What is good for the gander is also good for the goose.

Seems wanaikanyagia chini

Mtaendelea kufinywa makeii na ovaries. If you were not smart enough to exit in the 60k’s, you obviously are the dumb money. Lazima mlipie mansions na lambos za the professionals pale Hong Kong, Singapore, London, na NY.

No one who held their btc for more than 4 years has ever lost money. And for the record, it was only $10k last year so $30k is amazing.

But then again, those still holding now probably never bought at $10k when pros were buying. They bought high and they are underwater right now.
Remember, the odds of making money from one trade out of sheer luck are 25%. You have a 50/50 chance of getting in at the right time and a 50/50 chance of getting out at the right time. So by design, 75% of retail traders are guaranteed to lose money based on those probabilities and that’s just for one trade. Two trades in a row that’s 0.25*0.25 that’s 0.0625 i.e only a 6.25% chance of making money in two consecutive trades. The odds keep worsening and that’s why only professionals keep what they make. Amateurs give it back - always.

What I’m driving at is that luck is not a reliable strategy and if you get lucky, take your money and run.

Buy and hold is a solid strategy for amateurs. Unfortunately, you will need diamond hands to survive an 80% drawdown without selling. Do you have diamond hands @Purple ??

Just hold for the long term and avoid listening to know it all’s who know nothing.

Acquiring paper hands at 80% drawback makes no sense.

You dont loose when you haven’t sold. Hold hadi zirudi juu.

On the contrary, it was a very good day for some altcoin shopping… Hope the slide continues until next month

Precisely.

I’m holding for the next 10 years minimum.

If it was in their plan then yes. But the majority of bitcoin buyers were buying simply because price was rising rapidly. They had no strategy. Long term holding was not in their plan. And they can’t can’t handle drawbacks. Institutional buyers saw this and held back. Short term, you can only make money when price is unpredictable. It was a bull market so it was easy to win. But just like a casino, you keep playing. Until you lose everything. It’s human nature. Price was too predictable. There was no ingenuity or skill involved. Also lacking was a risk factor.

Could this be part of the 3 years cycle of crypto? Most people might have to hold the bags for the next 3 years when the crypto start going up. I.e if the theory is true

Theres definitely a cycle. Also the whole “crypto as a currency” is gaining popularity. It will go up, just not at the speed or pattern most expected.

Very true. This was me in 2017. But I have learnt the lessons. The way to make money in this thing and get wealthy is holding for years and years. Put money you don’t need to touch for the next 10 years +. Basically the same way you buy a plot of land. Buy ad hold it long term.

it’s all about understanding technical analysis that come with manipulation of the markets by the composite man.
Here, thank me later

https://www.youtube.com/watch?v=ltcnTTeDFjY

Things are looking up today, huh!

[SIZE=6]Amazon Looks to Hire Blockchain Staffers With Experience of DeFi[/SIZE]
“Experience in Decentralized Finance a plus,” the ad says.

Jun 8, 2021 at 11:13 a.m. UTCUpdated Jun 8, 2021 at 6:39 p.m. UTC
Amazon is searching for staff with experience in decentralized finance (DeFi), according to a job ad posted for Blockchain Head of Product.
“The candidate will have a track record delivering outstanding products at scale in emerging spaces, and is passionate about blockchain, distributed systems, and cloud scale software,” the ad stated. “Ideally you will have experience delivering products or innovations in the blockchain space, and in particular DeFi or Traditional Financial Services.”
Amazon has been subject to speculation it was looking for staff to build a digital payment token, which appeared to be part of an emerging-payments initiative to be test-driven in Mexico.

The blockchain product lead is part of Amazon Managed Blockchain, which recently added support for Ethereum, the public blockchain that is the original home of DeFi. Amazon Managed Blockchain started out as the internet giant’s version of an enterprise blockchain cloud offering. Rather like Microsoft’s Azure blockchain, it’s a way for companies to quickly spin up private or permissioned blockchains in the cloud.
If nothing else, it’s clear DeFi has caught Amazon’s attention. The company namechecked DeFi on three occasions. “Experience in Decentralized Finance a plus,” the ad says, along with a familiarity with Ethereum and Hyperledger Fabric.
“Amazon Managed Blockchain (AMB) is a fully managed service that accelerates customers’ ability to create and leverage scalable blockchain technology for current and innovative business use cases across DeFi, Supply Chain, Financial Services, Identity, and more.”

https://www.coindesk.com/amazon-looks-to-hire-blockchain-staffers-with-experience-of-defi