24 May 2021
What a wild last week, the BTC and Altcoin markets crashed down in some cases more than 50%! Do you want to know something though? Whales (wallets with over 10,000 to 100,000+ BTC or more) were in the market buying. This huge downtrend wiped out a lot of people who probably shouldn’t have been in the market in the first place.
Whales bought over 100,000 BTC during the sharp down movement. That should tell us all we need to know. They wanted to buy in at a lower price than 60k or so. Here is the lesson from this for all. Make sure as prices rise a lot and fast to all-time high’s (ATH), make sure to have a trailing stop loss (or limit depending on how the exchanges trade) of 15% or so below the ATH just reached. This way when what happened last week ever happens again, sure you would have sold out at around 55K for your BTC (65K less 15%), but now at this moment you would be sitting on 55K worth of cash or stablecoin if you had 1 BTC at the time. If you bought back in right now, you would have about 1.62 BTC, so a 5K movement up to 41K, gets you back to nearly 65K USD in value for your BTC. Imagine what will happen when BTC hits 100K, 200K, 300K! You gain big.
