Literally!
In my 5 years or so in the cryptosphere, I can't remember when, or if, the market bled so much, at such a large scale. There has always been some retracement from time to time and now I realize we had misused the word "REKT" on multiple occassions.
NOW is what rekt really looks like, goodness gracious!
~$120 down to $0.006 and going down.
I don't really need to mention which coin this is. This is just one of countless train wrecks over the last week. Of course our beloved HIVE has been no exception 😂
Mind you, our ATH was 3.41, although that was quite a while back. So for the sake of recent analysis, from ~$1.25 down to ~$0.35, yikes!
There are two options when the market is bleeding like Class IV Hemorrhage. One, control your emotions at the loss - which is the safer, and sensible thing to do. Or, two, go nuts and try to minimize loss aggressively!
I am a very sensible person in general. So of course I went for option 1!
Took all the HIVE I had and started scalping like a maniac. Now that hive is back to where I "created" my 2 cents rule of scalping, I targeted that same 2 cents and alhamdulillah now that I have much much more hive than what I used to have back then, 2 cents actually works perfectly in the current market condition. The risk is measured, and the profit per scalp is decent enough to generate enough hemostasis to cut down on the bleeding!
HIVE maybe a shitcoin, but it is consistent as fuck! Follow the yellow lines and choose your poison wisely! My poison at the current range has been $0.42 to $0.40.
Scalping if done right is probably one of the most beginner friendly ways either make some quick profit, or cut the losses in a bleeding market!
Happy scalping!
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