$GENIUS
Should you buy the GENIUS token?
First, let's talk about why GENIUS crashed so hard.
The other day when Changpeng Zhao posted about GENIUS, everyone thought it was headed straight to $1+. As I've mentioned several times before, these days most traders are into futures trading, so people quickly started to LONG.
This is usually the point where market makers make their moves. They pushed the price down to liquidate long positions, resulting in nearly $900,000 in long liquidations.
And this is often done intentionally.
So, should you buy now?
Since last night, the price has stabilized a bit, hovering between 0.44 and 0.45. With the overly bullish traders having exited, there's a chance the price might lift a little from here, but that’s not guaranteed.
In such a situation and with a high volatile token, here's how to make your entry.
If your portfolio is $100, go for a $5 to $10 entry.
And if it’s over $1000, aim for a $30 to $50 entry.
This is not just a signal, it's a learning opportunity.
Should you buy the GENIUS token?
First, let's talk about why GENIUS crashed so hard.
The other day when Changpeng Zhao posted about GENIUS, everyone thought it was headed straight to $1+. As I've mentioned several times before, these days most traders are into futures trading, so people quickly started to LONG.
This is usually the point where market makers make their moves. They pushed the price down to liquidate long positions, resulting in nearly $900,000 in long liquidations.
And this is often done intentionally.
So, should you buy now?
Since last night, the price has stabilized a bit, hovering between 0.44 and 0.45. With the overly bullish traders having exited, there's a chance the price might lift a little from here, but that’s not guaranteed.
In such a situation and with a high volatile token, here's how to make your entry.
If your portfolio is $100, go for a $5 to $10 entry.
And if it’s over $1000, aim for a $30 to $50 entry.
This is not just a signal, it's a learning opportunity.