Post by
arh0070 on May 19, 2021 7:29am
BNXA
As I was afraid the Crypto market was way overbought.All the pundits were wildly bullish .This attracted a large number of novice investors trying to jump on the bandwagon .They are all now panicking and selling .On a temporary basis (due to panic selling) volume will go up and that will Temporarily be good for BNXA .That is true .But if this is a bear market (a definite possibility)then volume will die because all these small retail investors sucked into the market at the top will not return for years .This has been the same way for bull/bear markets since 17th century holland and tulip mania .Followed by the South sea bubble etc .
Bitcoin sits at the 200 day moving average ,if it goes through this significantly we are ina bear market if it holds then this is a severe correction a bit like the stock market went through 15 months ago .If it is a severe correction it will be followed be a quite rapid recovery .
BNXA no matter what the pumpers say is TOTALLY dependent on the crypto market and what happens to it .
I do not wish bnxa ill or for that matter the crypto market (I am invested in both).The issue is always when to buy and when to sell and not to listen to the pumpers (on one side ) and the bears on the other side .
Good luck to all and keep lots of cash in the bank or under the mattress along with some physical gold and silver .