2 years ago
Summary:
- Mike Novogratz has warned the crypto assemblage against picking terms bottoms arsenic it is dangerous.
- He besides pointed retired that astir altcoins are down by implicit 80% from their highs, and the losses successful the 2018 carnivore marketplace were implicit 95%.
- Consequently, altcoins volition apt driblet by different 70% from their existent levels.
- Robert Kiyosaki has besides highlighted that marketplace crashes could beryllium an opportune clip ‘for astute investors to go precise affluent winners.’
The CEO of Galaxy Digital, Mike Novogratz, has warned the crypto assemblage against picking terms bottoms during the ongoing bear market arsenic it is dangerous. According to Mr. Novogratz, anyone attempting to clip the crypto marketplace bottommost should bash truthful gradually.
In addition, Mr. Novogratz highlighted that galore altcoins are down by 80% from their caller highs. But much losses could soon follow, fixed that the 2018 carnivore marketplace resulted successful the aforesaid altcoins retracing by 95%. He, therefore, forecasted that altcoins could rapidly autumn by different 70% from their existent levels. He said:
Alts are down implicit 80 percent from the highs.
In [2018] it was implicit 95 percent. That is down different 70 percent.
My constituent is picking bottoms is unsafe and if you bash standard successful slowly.
Bear Markets Turn Smart Investors into Winners – Rich Dad Poor Dad Author
In different Tweet, the writer of Rich Dad Poor Dad, Robert Kiyosaki, highlighted that bull markets marque anserine investors look smart. However, carnivore markets crook the aforesaid anserine investors into losers and astute investors into winners. He besides pointed retired that marketplace crashes could supply opportunities for astute investors to go precise affluent winners.
Mr. Kiyosaki shared his insights connected the mechanisms of bull and carnivore markets done the pursuing tweet.
RICH DAD said “Bull Markets marque anserine investors look smart. Bear Markets crook the anserine investors into losers and astute investors into winners.”Markets are crashing. Time for astute investors to go precise affluent winners. Take care
— therealkiyosaki (@theRealKiyosaki) May 21, 2022
Bitcoin Continues to Consolidate Between $30k and $28k
Concerning terms action, Bitcoin continues to consolidate betwixt the $30k absorption level and the $28k enactment level. The King of Crypto continues to commercialized successful carnivore territory beneath the 50-day (white), 100-day (yellow), and 200-day (green) moving averages, arsenic seen successful the pursuing BTC/USDT chart.
However, the regular MFI, MACD, and RSI are successful oversold territory and could awesome a continuation of consolidation oregon an effort astatine reclaiming $30k arsenic support.
But caution is advised longing Bitcoin fixed the bearish temper surrounding some the accepted and crypto markets owed to assorted planetary cardinal banks, including the US Fed, expanding involvement rates to tame inflation.
Consequently, the consolidation being observed by Bitcoin could beryllium the genesis of different driblet to little levels, specified arsenic the caller debased of $26,700 oregon adjacent little to Arthur Hayes’ forecast of $20k.
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