Bitcoin Drops 25% In A Week | Here Are My Thoughts

Question: I am slightly worried that because of the whales coming into the BTC-market we will not see a huge btc price in next 2 years like 60.000 dollar. Because the whales don't need the high price because they can pump and dump like they want and still make huge profits. So I think we need more new money coming into the market to reach a very high price. Any commen't on this guys?

Is it really worth talking about a drop or hike of the market, when you see how banks are manipulating the market, by having more silver shorted then physically exists ? While having access to basicly unlimited amounts of funds the banking mafia can do with crypto, whatever they want to !

Bakkt shows us how fake the volume is on all the exchanges and coinmarketcap.com ………..

Always great content. I missed your videos during the last few days, but I'm very glad you got to take some time off and go camping with friends. It's so important to unplug every now and then just to reset a little bit. And considering you put out a video almost every single God damn day, well deserved. Good stuff and stoked to sit down and watch that macro trading video from the other day. Keep it up!

Watched both of your educational videos. Such a great source of knowledge. Thank you!

Thanks Nick! I’ve actually taken exactly the same approach recently. Scaling in on drops and not actively trading anymore. Patience

You are hurting a lot of people.

Your last 2 videos have been amazing! I'm new to crypto. I've invested and made a few trades. Ended up on Bybit shorting and limiting. Had no idea what I was doing! Took my BTC off that exchange and watched your macro trading video. Thats how I wanna trade! Day trading is too crazy. For me. I have a job! Thank you for sharing this information that you paid your dues to learn.

Hello Nick, can you make a comment in your next video about the tax implication of futures on CME, which is cash settled versus Bakkt which is BTC settled. I think that because it’s considered a commodity by the IRS, the tax is more to use Bakkt.

One of the reasons I hardly move BTC from wallet to exchange or other platform is because of the headache related to proving it’s not a tax event.

BTC will be back. It’s always agter a big drop when it’s a good time to buy but people become overly fearful when it’s oversold.

Times to buy. Bitcoin. Ethereum. Litecoin. Ripple. EOS. BAT Chainlink. Dash. NEO. XLM

Nick Loved the video, learned 3 things in 3 minutes !!! But I wish you viewed one issue differently and then addressed it: I think your assumption for the average person not wanting to buy at 40% discount is wrong. The problem is liquidity. I believe that alot of people are bullish on the long term (like you) and do believe that buying at 8k is a huge discount, but when they missed selling at 10 or 11k , then there is no liquidity to buy at 8k. So they sell at 9k seeing the downtrend and hoping it drops further to buy at 7k.

@Datadash, what does “averaging in” mean to you? $500 a week? Day? $2000 per week? Day? for such corrections, thanks !

I don't see why you should have to justify yourself to idiots, who rather than accept responsibility for their actions, blame you because they lost money through poor risk management.

Taxation is theft!

Yeah and I earned $lion when I joined at Coinlion campaign easy

Yeah accumulate Dusk Network

came a cross this gem, for you starting to learn a must see https://youtu.be/PHe0bXAIuk0

Great video Nick. I am glad your back from camping ???

Do you ever wonder if the 14k might of been a lower high on the macro market cycle?

when 10k

welcome back… as usual it was very clear and helpful… ks

Running the math on the daily prices since 2015 for investing at a random time and waiting X period:
Week: 57,74% average win rate, 1,84% average profit
Month: 62,86% average win rate, 2,48% average profit
Year: 85,18% average win rate, 4,93% average profit

That means that if you bought at a random time since 2015 and waited a year then sold, you would be in the green 85% of the time, and you would win 5% per week (266% yearly) profit on average.

Average profit was normalized to a week period in the monthly and yearly for comparison sake.
This means that DCA is one of the best strategies to use in bitcoin. That together with some portfolio management re-balancing should trigger automatic take profits when your crypto capital gets too high in relation to your global assets (and extra buys when it drops 85% as crypto does).

Merten > CNBC

Bitcoin 2020 mining reward halving closing in all the time……⏰

Good to see that former US Presidential candidate Ron Paul just announced as headline speaker at Łitecoin Summit in October. ?

Nick, you made me realize I have to stop trading this short term manipulated market but I need more discipline 🙁

Thanks for the update Nick..

I for one remember you saying very clearly, past a certain point a few weeks ago, that the market could go one way or the other.

This is only the beginning, a tiny little bump in the road and an opportunity instead of a disaster.

Interesting to see that quite a few minor alts held their own and didn’t correct into oblivion. Things are actually looking good..

Keep going with your view and reiterating that it’s an individual choice as to when to invest. Education and taking responsibility for ones own actions is one of the reasons I’m a subscriber to your content.

I CANNOT BELIEVE he is still calling that a frigging “wedge”. ?

Totally okay for you to take time away for self care and time with friends. Bad luck on the timing, but you couldn’t have known when things were going to break. Good for you to take care of yourself!

I truly appreciate that you share your trading strategy. Thanks

Which program is he using for his charts? I can't seem to find the SQZ… indicator in the normal tradingview? I'm also looking for VPVR indicator. thanks

thanks for your level headedness . why don't you make a little studio there to give yourself more of a pro looking set?

Nick you always manage to keep my nerves calm and give me a voice of reason in downturns like these

Good video

it's funny how we tend to get so bummed when prices of our favourite assets take a big hit, when just a few months earlier we were praying for a downturn! (Guess it makes a big difference if you have cash on the side to take advantage of it.)

I prefer to camp at the computer. Nick, do you use any other strategies that you would share? Have you ever used Ichimoku (have to change the default settings for use in crypto). Tks ?