What Is BTFD And How Is It Beneficial For Traders?
In any market, be it the cryptocurrency market or the stock market, expecting predictability is not the correct approach. The unpredictability of a cryptocurrency market is what makes the smart traders a lot of money. The main way of making the most profit in this crypto sphere is to cash in on the right opportunity at the right time. This is the reason why a lot of situations are supposed to be known by you and what they are called.
BTFD is one of those situations which has the potential to earn you a lot of money but you should first take the advice and make the best out of it. Definitely, BTFD is an acronym for “ Buy The Fuc*ing Dip ” and this is actually advice to other traders in a situation where the price of a coin hit its bottom. If many analysts and strategists think that the price of a certain coin cannot go any lesser than the price that it has reached (at this point of time), they will definitely advise BTFD. Smart traders should analyze a little more just to avoid being misled and invest henceforth on that particular coin. Here also, it is very important to do your own research.
The History Of The Term BTFD
BTFD is one of those terms that have been here forever and did not just come in the radar out of nowhere. More than a good strategy, BTFD is a bullish anthem and a way of life for many traders around the world. BTFD has been thrown around for quite some time in the stock market as well as the cryptocurrency market.
It is true that many people came to know about the cryptocurrency market after the huge increase in price that Bitcoin underwent back in 2017. Many people invested in Bitcoin and some thought that before doing so, it is very necessary to learn a few things about the market first.
While the process of learning the market goes on, there are you chances that a person is misled by many different kinds of advices that might not be the best thing to do in that particular point of time. BTFD can also be misleading if the advisor is not good enough.
Why Is BTFD Such An Important Phrase ?
Expressions like BTFD are what brings the community together. Generally, investing in the cryptocurrency market is a very strategist and well-planned process which is the reason why different traders have different preferences. On the other hand, when a certain cryptocurrency token has reached its low and the expression BTFD is mentioned, a lot of people actually start investing in that particular cryptocurrency because they know that there are lesser chances of the cryptocurrency’s price going any lower.
Picking a coin during the time it has hit its rock bottom is probably the easiest way of investment in the cryptocurrency market. Of course, to avoid misleading, a trader should consult a lot of places and strategise the investments accordingly but the whole process is much easier than normal investments. The unpredictability in the market is so huge that any person would think so many times before investing in a certain asset. Here, during ‘BTFD period’ (as many people like to call it), one would have to think much lesser.
Return of the bullish market in the cryptocurrency can happen anytime and if a lot of coins are associated with BTFD term somehow, the chances just get increased.
To such a complex and high stakes domain, BTFD comes as a cure and makes a lot of money for the traders cash in on the opportunity, at the right time. It has been an incredible run in the crypto market lately and many more such situations are yet to come.
