The Aftermath Of Yesterday' Events

The market seems to be calming down but in this business nothing is certain and you can never know for sure. This calm may be the calm before the storm and BTC could go even lower and with it the alts as well.

There seems to be evidence proving that Elon was forced to tweet that Tesla has diamond hands.

And there's evidence that the whole crash was premeditated, orchestrated so whales could shake small accounts out of money and get their hands on cheap crypto. We kind of knew this is the case but without evidence, all is just a theory.

This chart is not new, it features the 2017 run and how people behave, base their decision on some tweets. We may see it again as the recent events seem to follow this path. At this point maybe it's too early to say something similar is going to happen, but there is a chance. I guess we shall see. Time will tell.

And there's this:

It may look like a joke but it isn't, it is real, very real. We may never know how many have lost their savings and are broke or even in debts but the number is high.

This dip looks like the perfect opportunity to buy in at a discounted price, invest more and some may even invest borrowed money, hoping for a quick return, when the market recovers.

But what if this is not the bottom? What if it goes lower and hover for a while, before it can recover and those who played with money they can't afford, lose more? It is definitely possible.

Those who joined crypto a couple of months ago may have bought close to the peak, which means the value of their portfolio may have just halved. So instead of making 50% profit, they are at 50% loss, or even more if they were leverage trading. Buying lower, using DCA to cover losses is a good idea, but only if you buy the bottom. If not, you may just add to the previous loss and make it bigger.

What's happened yesterday was a clear lesson for everyone, even the most experienced traders as no one knew this is coming, except for those who orchestrated the whole thing. The thing is, it can happen again any time and no one will know as these events are not advertised in the paper and each time it happens, the poor become poorer and the rich become richer.

The only way to avoid losses is to start learning and follow the rules. Stop loss has been invented for a good reason and every loss is a lesson. As I said before, there are no shortcuts here, you may get lucky once or twice and get rekt next time.

Crypto is a manipulated market and the sooner you accept this, the better your trading.
For those who laugh at that idea:
It’s a poorly regulated space with billionaires and governments as participants.
What’d you expect? You really think they play fair? source