- As the Market goes down, Lark Davis comments on the current situation.
- Davis discusses the Market’s ups and downs.
- A closing conclusion arguing the right time to buy and sell.
‘Is it time to buy or sell’ is a never-ending question, especially with the crypto market and its almost daily ups and downs. As we take a quick look on the charts, we can see that Bitcoin went down to $37.700, which is $200 less than the major dip in March 2022, before bouncing back to around $38.9K.
Although the market has witnessed a good pump since med-March, Bitcoin is not so far away from continuing to go down to $30,000 or even lower, yet the market is still in a high-low situation which can lead to another bounce.
Lark Davis, a crypto YouTuber, shared a tweet on his official page saing “My buy order for bitcoin at $37,500 just missed getting filled on this dump.”
After that he tweeted a question asking people if they think Bitcoin will dip to $30,000 or lower, 51.2% answered with “No”, while 15.6% answered “don’t care, staking stats”. Davis reacted to that in a YouTube video, where he shared his intake on the market’s current situation.
Lark stated in the video that for people who believe in Bitcoin going up to 1 Million, such a dip should not matter because it will not affect their benefits when the time comes. He also added that most people get affected psychologically by the market’s ups and downs while they try to buy during the drops and sell during the pumps.
time-in the Market is better than trying to time the market
Davis also shared that he believes the market overreacts to many news such as the late news about Google’s parent company, Alphabet’s profits dropping by more than $1B during Q1 in comparison with 2021.
As he shared the fact that many other earning reports are coming in during the next week, where he commented “fasten your seatbelts crypto holders.”
Lots of earning reports coming up for #stocks this week, fasten your seatbelts #crypto holders! pic.twitter.com/GwgFwA2lbq— Lark Davis (@TheCryptoLark) April 27, 2022
Lastly, Davis mentioned a tweet by Jeff Kirdeikis, the CEO of TrustSwap, saying “Generational wealth isn’t earned through buying-in impulsively when the “trend” or sector is bullish. Generational wealth is earned through positioning-in for the long term in moments of peak capitulation and fear into foundationally sound investments. The dip is your friend.”
In conclusion, if Bitcoin is going up, then these are the times to buy for long term investors. Yet for short term investors, these times might be more tricky than the usual.
Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.