Market downturn, how do top traders view the future market?
Sell at the peak or boldly buy at the bottom?Author: Alex Liu, Foresight News
In the early hours of December 20, the market's reaction to the previous day's hawkish stance from the Federal Reserve intensified, causing the crypto market to plunge. Bitcoin fell to below 96,000 USDT, while Ethereum dropped from a high of 3,900 USDT on the morning of the 19th to 3,322 USDT. The severe volatility resulted in over 1 billion dollars in liquidations across the network within 24 hours, with altcoins experiencing even steeper declines.
The feast is over; am I paying the bill again? Should I sell to escape the peak or boldly buy the dip? Don't panic, let's see what top traders and investors have to say.
Notable Investor, Placeholder Partner Chris Burniske
Stay bullish ------ this is just a "little fool's punch," and it's still early in this cycle.
If you're upset about not selling before the FOMC's hawkish stance led to a pullback, remember that you have almost no edge in predicting market reactions, and view it as an opportunity to take your time. Don't overtrade. In the long run, as long as you're patient, you'll be fine.
VC SOL Big Brain, famous for bottom-fishing Solana
Notable Trader DonAlt
The Bitcoin chart does not look bearish (for now), even if another leg appears on the chart (these typical similar patterns), it still doesn't look bearish.
I believe if we go to 90,000 dollars, it will cause a lot of altcoin liquidations, providing a very good buying opportunity.
But I'm not sure if that will happen; the sentiment is already very "bearish."
I still believe the last stop of the bull market is missing; it hasn't gotten crazy enough, and it seems like the way the U.S. government is facilitating it feels like a huge waste of a ready-made powder keg.
Personally, I'm not panicking at all, but maybe I'm just being complacent.
Notable KOL KALEO
Trader Adam
Top Trader Saint Pump
If the Bitcoin structure breaks down, I predict buying will reappear at 90,000. In pure panic, it could drop all the way to 85,000 dollars. Altcoins would completely collapse.
The ideal buying price for ETH would be 3,000, 2,900, while for SOL it would be 160.
Notable Solana Meme Trader Ansem
Easter Egg: Top Trader Eugene Ng Ah Sio
A few hours ago, Eugene Ng Ah Sio posted an explanation of why he is bullish on SOL at a price of 208 USDT, stating that he has adjusted his Meme position to SOL (his individual positions typically range from several million to tens of millions of dollars). During this wave of decline, SOL dropped to below 190 USDT.
