Yeah, this is the kind of scenario I'm looking at, too. I exited all positions last night after I saw all the stop-losses triggered. I tend to miss out on a lot of the very highest-end action because I'm a bit too conservative ("scared"?), but I'd prefer that to losing any of my starting cap.
BTW, I hope I didn't sound condescending in that last comment, it's just that the verbiage was making me cringe as I was watching what was going on. I was thinking, "PLEASE don't hodl this, man!"
surfz
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@tchat, no worries, I was preparing everything last night, in case that this would happen, the last 24 hours were "....". Keeping the faith and seeing 8 likes, helped me through it. At what price are you re-entering? Or are you moving to alts/ BCH?
tchat
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@surfz, I really don't want to make the re-entry call yet. I was reading another post about how the market just needs another "push", news out of China, etc., to go one way or the other. This rings true to me.
Knowing that there are institutional interests that would still love to help BTC over a cliff so they can quickly report its demise in the press. I know you're right that there's rising support for cryptos, but I also know that there's a weird dichotomy where blockchain technology is somewhat harder for banking interests to control, such as it currently is, but the market itself is comparatively easy to manipulate (they can easily pump & dump it at will). I might lose some position watching in fiat and a small allocation of alts, but I might get a clearer picture of how far down down might be.
surfz
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@tchat, thank you for sharing your view. I think your approach is the safest and probably the best for now. I do the same. Have a nice weekend!
BTW, I hope I didn't sound condescending in that last comment, it's just that the verbiage was making me cringe as I was watching what was going on. I was thinking, "PLEASE don't hodl this, man!"