To all crypto investors, what’s your outlook on Ethereum and Bitcoin? - Seedly
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Anonymous

Asked 3w ago

To all crypto investors, what’s your outlook on Ethereum and Bitcoin?

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Jay Hou
Jay Hou
Level 4. Prodigy
Answered 2w ago

Heard that china is now testing out its digital yuan!

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Ivan Teo
Ivan Teo
Level 3. Wonderkid
Answered 2w ago

My opinions are as such:

From a purely technical standpoint, Bitcoin has struggled to break the $10,000 USD mark, but also seen a strong support at the lower $9,000 USD region. Right now, it is hard to tell which direction BTC and ETH would move, as it is mainly in consolidation around this area.

Therefore, I am neither bullish nor bearish, but am waiting for one of two signs:

1. Bitcoin price breaks above 10k and consolidates, causing the $10k USD resistance to act as new support. This would make me turn bullish and look for profit targets around the $12k USD region.

2. Bitcoin price falls below 9k, where I would continue waiting (rather than short bitcoin) and look for long entries when a strong support is found, preferably at the $6k USD region.

Similar ideas apply to Ethereum.

Take note that

  1. Bitcoin has seen its price coupled with the price movements of the American equities market. (S&P500 is a good indicator) From this perspective, if you are bullish/bearish on the S&P500, it could make sense to carry those sentiments to cryptocurrencies.

  2. Bitcoin's halving / FOMO should not be the main factor you decide to enter cryptocurrencies.

3. These are my only my own opinions, and cryptocurrencies carry huge risk, therefore trade / invest only with money you can afford to lose.

Do also let me know if you strongly disagree with anything I mentioned. :)

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QK
Qu Koh
Level 2. Rookie
Answered 3w ago

Bought back in the highs. Sitting on almost 70% in losses. Treated it as tuition fee. Still holding and hope that there will be some sort of recovery. Otherwise have already written it off.

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