I posted my first video about the upcoming market crash on September 23, with the intention to activate all of you to get into crypto. If you missed that video or didn’t act on it, I wrote down how you can get started, below.
After the crash there’s multiple scenario’s possible:
1- if people are scared it may take a couple days or weeks for prices to go much higher again.
2- As stocks are being sold at the stock markets, cash becomes available. With BTC and crypto being so low, many now-cash-holders may decide to buy up crypto which could potentially cause a boom up. If something big would happen we may need to be ready to sell if it skyrockets. Because if it gets overbought, like if it goes up to half a million or so, it could also come down fast again as well. We don’t know if something like that will happen.
3- Any more scenario’s possible? Could it stay low for a couple of weeks? Maybe. Depending on what causes the crash. But that would not be a problem at all. Imagine the opportunity of buying Bitcoin that low…. How many of us would have wanted to wait months for it to go up, to be able to just wait and see how high it would climb… When Bitcoin first started nobody knew it would get to such a high price. If it crashes today, you know it will go higher than it has been. The promises for Bitcoin are there. Getting an opportunity like this is rare.
http://Coinmarketcap.com
Here you can look up the coins you would want to explore or buy, you enter BTC (the 'ticker' name for Bitcoin, and then the Bitcoin chart appears. Underneath you find all the exchanges where you can buy Bitcoin. For example
http://Binance.com is an exchange, you also have Kukoin and others like for example
http://pro.kraken.com (Kraken Pro).
You open an account on one (or more) exchanges and deposit money from your bank account, usually. Then you place a limit buy order with your deposited money, for BTC at a low price like 4000 or 3500 for example, or at whatever amount you want to buy. The amount you fill in on your exchange's limit buy order must be higher than the expected bottom price, otherwise your limit order will not fill.
Make sure you use an exchange that allows you to place a limit order for BTC at a low price like 3500, 3651, 3800 or the amount you want to buy on. If the exchange doesn't allow a limit order that low, look for one that does.
I saw BTC, Bitcoin, in two dreams at 3400. The lowest price can possibly vary on different exchanges, so I cannot guarantee it will be exactly 3400 on all exchanges.
Limit order:
A limit order is an order you place beforehand, and if it reaches lower than your buy price, your order will get filled.
If it does not reach lower than the buy amount you filled in, the order will not be filled, so it won’t go through.
A limit order will be remembered by the exchange and get filled even if your computer is turned off.
Market order:
If you are behind your computer and see the crash happening, you can also use a Market order. A Market order will be filled at the current market price. So if you place the order the exchange will look for the best price at that moment. Usually the market order fills at a price a little higher. But that is ok when you buy that low anyway, and it ensures your order goes through.
Learn about the different order types on the exchange of your choice.
If you watch the charts on your computer and sit ready when the crash happens, you can also place an order while it happens, but everything can go fast. You can use a market order if things go very fast and you want to make sure your order gets filled.
You can prepare yourself by practicing a bit. Just logging into your account, watch some charts, see how you place an order, even if you don't execute it, is training so you'll feel more comfortable and at home with it.
LOOK UP ANY QUESTIONS YOU HAVE
1- You can look up all your questions on Youtube, search for instance the words "how to place a buy order on..(name of exchange)..." on Youtube people show you their screens when they are on the exchange and guide you step by step through the process. Do look for legitimate people, watch out for scammers that try to lure you to different websites. Always use the official exchange web address, find it on
http://CoinMarketCap.com and bookmark it, and always use that bookmarked link.
2- You can also use AI like ChatGPT for your questions. AI gathers info from all over the internet and finds answers for you in seconds. About literally everything. That can save you tons of time! You can download the ChatGPT app in any official app store, and use it effortlessly on your phone, but you can also use it on your computer.
3- On the exchange of your choice you can also find support pages with frequently asked questions and there you can also look up any questions you have.
BASIC TRADING: BUY AND SELL
If you bought your BTC with a limit buy order, you can also place a limit sell order, or multiple, at a high price. I didn't hear God say anything about the BTC top yet. But if it goes up really fast and much higher than usual then chances are it can come down fast again as well. That's just something we all must look out for and decide for ourselves when we think it's time to sell.
You can use limit sell orders as long as the price is going up. Or if it goes down slowly, with regular trading. You place your limit sell order a bit below the current price to make sure it fills.
In a scenario where price goes up really fast and passes all time highs of 125,000 USD, and then immediately goes DOWN FAST you may need to use a market sell order if you want to sell. Market orders don't give you as good a price as limit sell orders, but if things fall rapidly it may mean the difference between taking profits with a market order, or not be able to sell at all (with a limit sell, when price falls hard below your limit sell order.) Look up limit buy and sell orders and market orders on your exchange. It is easy, so just make it your own by reading about it.
The experience and making mistakes is also part of the journey. I missed some good opportunities when I sold too early or too late. That’s part of the process, and it is a NORMAL part of the process, since it is unpredictable. It is wise to buy some books if you can, or search online, use AI and Youtube, to learn chart reading, technical analyses and Fibonacci levels. I need to learn this still as well. The sooner you learn it, the better your results may be.
SCAMMERS
There are scammers out there, just like in normal financial, like hackers that may steal money from your bank account. Ask AI how to make sure you stay secure in what you do in crypto. Ask what types of scams there are and ask how to avoid it. Ask for best Security tips in crypto. Specifically about your account, etc. Things like that.
Never use a Google advertisement to log into your exchange as scammers may put up ads to trick you into their fake sites and try to fish for your info (fishing). Again, you can look this up.
TRADINGVIEW
http://Tradingview.com is the go-to website to watch your favorite charts. All the main ones are listed here. If you type in the ticker BTC to see the Bitcoin chart, you'll see a list of BTC/USD for example, or BTC/EUR, and all the different exchanges are shown on the right. There you can pick the exchange you have and watch their charts of BTC of your exchange on Tradingview.
Often these charts are better to view on Tradingview than on the exchange itself, but you can also watch them on the exchange directly. I use Tradingview a lot, with the night mode on, I like to watch charts on a black screen. You can click white (day) or black (night) mode.
Tradingview also has study material on their website available - how to use stuff. YouTube and AI can also answer your questions about Tradingview.
You can use Tradingview for free, the website will ask you to try an account, but you can use it for free. For better connectivity and to see multiple charts at once, when you can afford it, a subscription is better. As always, look up any questions that may rise about that, on Tradingview, AI or Youtube.
The main thing is that if you can, get started and if still possible, get ready for the crash on Friday October 31. When I posted my first video on September 23, the Lord had not spoken about the timing of the crash. Here you can see my first video:
https://x.com/davidjsorensen/status/1970489197300719635…
All this is not financial advice. I am not a financial advisor. Always do your own research and keep learning. Don't be afraid of the new. Don't think you're too old.
Renate Sorensen, David's wife
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