Bitcoin has retraced more than 40 percent, and it can go lower, but it is the best time to buy it if you have missed the chance to buy Bitcoin on a low 3k.
I've tried to group many of the questions from Twitter and YouTube together into like-mind the topics. I'm going to try and cover as much of that as possible for you today here in this video. I know there's a lot going on, a lot of significant price action on the downside of late and I'm going to cover a lot of that here today as well. Before I do that though, let me quickly go over to some housekeeping items, which I think is essential, and I'll try and get through this fairly quickly. Just the typical standard disclaimer that I'm not a financial advisor, I'm not a registered advisor, and none of this is, you know, financial advice to you.
Possible that altcoins will crash further as this downtrend is not over yet, but: what altcoin to buy? When to purchase altcoins? Will there be any altcoin season at all?
Now it is a very exciting time right now for crypto. Let me explain why other than Bitcoin, which has been consolidating for the last few months, the other crypto markets have actually been, as you can see here, they've actually been in downtrends so a lot of the cryptocurrencies like XRP Light, coin dash and so on have been in major downtrends and um, and just take a look for example XRP here, which has actually gone down from the 50 level now to the 25 level, almost a 50% drop in the last few months. Light coin as well has been a downtrend dash, which is one of my favorite cryptos is also now in a down trend at the moment. And here's the thing guys, and as I'm sure you'll probably agree, this is very exciting because I think we could be getting close to another great buying opportunity on crypto very soon. In the last few days I've actually opened a few more cryptocurrency accounts with some other cryptocurrency exchanges like Coinbase, Cracken bit stamp obviously.
Let's talk about the path to 200,000 bitcoin. Uh, I don't want to spend too much time going over why I believe we're getting go to 200,000 and this cycle or possibly above that.
That is clearly covered in the four year cycle videos that I just mentioned before. Again, if you, uh, need to know, want to know why cover, go over those videos again and you'd get a fairly good sense in an idea for, for my views on that. But very quickly, the four year cycle spans a price action from one major load to the next major low. And I have it mocked starting back in the 2011 timeframe because that is essentially when people would began to transact in bitcoin and we had some true price discovery. We did not have true price discovery in 2010 as evidenced by the 10,000 Bitcoin for pizza, for example.
Will Bitcoin retrace more, or is it the end of correction? When to buy Bitcoin if I want to catch the lowest point?
It's been about three weeks since my last video and a lot has happened since then. I've, I mean bitcoin managed to get almost all the way up to a very surprising at least uprising for this early on in the four year journey up to almost 14,000 I think once it hit a that 1213 then up to forwards 14,000 we really started to have a for the first time kind of a bit of Fomo across the board. I think for the first time also we had some retail and by retail I mean just everyday folks, right? Many of you as well kind of get concerned or jump right in thinking that they had missed the opportunity and really threw in the towel and started buying bitcoin here and a little more size and a little more leverage. And whenever that happens, of course we know that the move when you sort of move, whether it's a short term, intermediate term, we've been longterm move is probably more towards the tail end of the move.
How to know that Bitcoin price is low and it is the time to buy it right now.
Where is the retrace point we should focus on?
Will we need to search cheap entry point to buy a bitcoin or starts a new bear market?
In this video, which many of you have been asking for. I'm going to explain to you very simply and very powerful and simple strategy as to how I'm looking to buy bitcoin. In other words, I'm going to share with you in this video a very simple methodology and a very powerful strategy as to, hi, I'm looking to position myself to buy bitcoin in the very near future. Also, importantly, I'm going to share with you how to minimize the risk as well in this strategy. Now, before I begin showing you a strategy, I would highly encourage you to please watch the first half of this video because the beginning part of this video going to be very important to set the context. So the first thing I'm going to say is this. There are two main methods or two main strategies as to how you approach a market, especially if you're looking to buy or sell into a market.
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