The protracted flat correction of almost all altcoins, which has been going on since the beginning of September, tests the patience of the community. Hodl or siphon? Or maybe purchase smth? There is such an opinion too. Experts and vloggers with one voice repeat: This is our private opinion and not advice, because … Because everybody is ready to jump in anticipation of a growing market movement for a long time. And tense muscles are cramped. Isn’t it time to relax a little?
How to make money?
Flat is a term from fiat technical analysis and means neither more nor less a horizontal movement of quotes with small vertical fluctuations. According to the canons of technical analysis during flat correction there are only two ways of actions:
- Trading inside the borders of the price channel.
- Do not enter the market and wait for the market movement.
The second option just undermines the patience of the most cautious part of the community. And what about the first? Not so bad. Here is an expert opinion:
– Leading altcoins, such as Ether and Litecoin, have killed volatility completely. Litecoin has a channel range of $ 16, and if you catch it, you can make some money.
Another expert confirms:
– Alt, that lives – will always give a profit. The one with a full flat – will not make money.
The advice is as colorful as it is useless: how to distinguish one altcoin from another?
However, strictly speaking, with no volatility, you can really make money only by taking a promising coin for a longterm. And some experts subtly hint at this:
– The longterm Ether jibbing at $ 200 level resembles the behavior of a high jumper before a jump.
And the analogy is especially clearly read, if we take note of the upcoming soft-fork of Ether. So, if you don’t buy it, then it is quite justified to hodl Ether in the perspective of Ethereum 2.0. And if have funds, take it for a long term. What term? Who knows. Here, the experts start the fortune-telling on the tea leaves:
- This flat can be 2, 3 or more months …
- Flat at 3 months is quite possible – if count from the beginning of September …
And due to stagnation, market sentiment is sometimes reduced to routine things: to be patient, devote yourselves to safety, get coldwallets, etc.
Instead of a conclusion: Not advice
According to the current tradition of bloggers, bloggers and other experts, we do not give an advice, but just provide an example.
Tron (TRX) founder Justin Sun announced in Twitter that the burning of $800 million worth of $TRX had happened:
– I just burned 800 million USD worth $TRX ERC20 tokens. $TRX ERC20 tokens will soon become historical artifacts Don’t forget to keep one as a souvenir!
$800M while TRX cap is $1500M! Have you burned more than half of your coins? – asked horrified followers.
What is it all about? The coin burn relates to ERC20 $TRX tokens, of which are no longer in use or being traded on exchanges. $TRX completed it’s mainnet launch by the end of May 2018. And the ERC20 coin swap for the TRON20 coin. “Therefore everyone is now trading the independent blockchain coin, TRON20 $TRX and not the Ethereum based token!”
And what? See with your own eyes and keep in mind that announcement happened on the 1th of November:
Summary: Read Coinstelegram – and make your decisions in time and correctly.