Crypto is currently in a state of stagnancy as the price actions we're currently seeing is drab and less exciting. When it comes to Bitcoin, there's nothing innovative except the tech and the price and the fact that it is a store of value.
The inability to be "more" is why the market seem to experiences boredom when the price decides to settle and the SEC drama reduces.
To be very honest, this is the longest bear market ever, and psychologically speaking, the damages made by Do Kwon and Luna as well as SBF and Gensler, have created a huge rift.
The prices are still as bad
.......and probably until BTC finally breaks 35k and approaches 40k, this might be when we'd begin to see positive progress. November and December last year might probably go down as the scariest time ever for Crypto.
The crazy predictions we saw were enough to send a lot of people panic selling, the damage to retail investors and people who were just holders was unprecedented.
I mean, the 2018 bear market was just as bad, but it's probably not as bad as what we saw in late 2022. Back to my focal point.
A lot of people still don't have a plan for the bull market
......and this is because the lack of positive momentum in the price creates an illusion that we're still far away from the bull market.
One of the things that some people mostly do is to watch for indicators that herald the bull market before they begin to make plans, and why not? People who just want to make little cash are always after certainty.
The certainty that the price is heading in a positive direction. However, we all know that this isn't the way to invest.
Crypto can be life-changing,
......but sometimes, this requires one or two bold moves and without these moves, the bull market will only be a period to raise your standards of living without raising any substantial aspect of your life that requires changing.
In reality, the bull market is once every four years, to be honest, four years isn't four months, and if a person waits every four months to just increase their standards of living, they might just get to see 4 to 5 bull market in their lifetime and still their life is as volatile as ever.
A lot of people underrate Crypto, they allow the market sentiment to control or determine their resolve or plans for investment.
They just want to keep riding the waves until the next bull market, without having a solid plan of capitalization.
Crypto might not give you too many chances.
.....this is why you have years of bearish trends and only a few months of bull run.
However, the only advantage of these bearish times is the opportunity to recognize decent projects, build with them, invest, as well as have a plan to take advantage of when the bull run finally shows.
The bear market helps you understand projects that might be solid. The bear market isn't meant to be a period of stasis.
This is where the main work lies, but unfortunately, the illusion creates by price actions during the bear market, creates apathy. This is how crypto is, this is how it'll be forever.
There's going to be constant inside sabotage, bad actors will always be around, and Twitter influencers will always be there with their outrageous sentimental predictions.
These are elements of the crypto market, and without them, crypto will have no identity.
There's no way we'd ever have smooth bear markets. The one we're currently facing has turned the resolve of so many people Inside out.
Shutting Out The Noise
However, the main reason why it's important to shut out the noise and proceed with your plans is that you only get one shot at the bull market.
Know your plans deep down, stick with them diligently, constantly build without wavering, sell less of your coins, and find ways to accumulate more, no matter how difficult it gets.
Remember, you only get one shot every four years, and never think you'll always have the chance to see the next run after this. What if you don't?
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This is heartwarming to read, you've dissected the probable minds of the majority. It is no doubt the concept of bull run is understood even if superficially however, our minds for the majority of us are wired to use the fastest means to reach wealth with little or no risks. Very few people are willing to endure the pain of waiting period to bloom.
I also understand that there's limited funds in circulation but, if the bill run begins now, you'll be surprised where the funds will come from even though it'll most be as a result of FOMO. And yet, most of those funds may not really be convenient or may be borrowed which is ill-advised.
I am of the opinion that a DYOR is conducted by serious minded people, accumulate more and sell less as you pointed out and practice that as a culture irrespective of how little it may be.
My fear is that there's so much noise about projects that you may not be able to beat your chest on which is viable or not but #hive has been tested and trusted and a few others that may be worth the investment.
Thank you once again, it's delightful reading this
There are amazing projects in the crypto space, not just hive, I just feel we need to do better in terms of research, finding enough ways to get external capital and taking the risks when the prices are very low. For example, there are people who invested when BTC was about 18k last year. Now a person who did that would be sitting on decent profit, so also hive. I just feel without gut in crypto then there's no glory. Anyone who wants to have their lives changed, must be able to be willing to do the time and accumulate diligently.
Very Well composed and Insightful Article,
One thing I love about your post is that, there is always something new to learn,
You are truly a Pro at what you do💯🙌
Thanks for the compliment, it was worth writing
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Thank you
I agree. People need to decide on a plan and stick to it. All the news about FUD or FOMO is counterproductive. I plan on taking more profits next bull run but I don't know when that will even happen.
The next bull market seems elusive, but I believe after the halving next year we'll see some significant strides towards the bull market.
Like you've said, having a plan, sticking to it and never giving in to any distraction is way to basically prepare.
The bear market is definitely not a time for stasis if we look beyond the price movements. I think it's worth all the effort to prepare for the bull market through creating a good plan and sticking to it. The opportunity to substantially increase one's financial position doesn't come very often and missing it could be a big regret.
The bull market is once every 3 to 4 years mostly. Basically I think that this is the main reasons why people should be intentional. 4 years is a very long time and it's just about enough time to prepare to take enough profit. I don't know how many bull market a person needs in life, but I'll say, 3 to 4 is the max to achieve financial freedom
This is true, one of the mistakes I did in the last bull Market was that I started late which affects my profit. We must work towards our now by neglecting the market sentiment and fear and doing what is right
What can I say, we learn as we grow and develop. You're much more experienced more than you used to be 3 years ago. Now you're even still preparing ahead and putting many things into perspective.
Wise words... The bear market is the time we recognise projects that we stick with, growth with and accumulate.
I respect your thinking brother! Reasons why I dey follow your footsteps.
Exactly, I believe some of the projects on hive will eventually do good when the bull market comes. Splinterlands for example is one of them, but all in all, everyone suppose to prepare well for the bull market.
What a nice, well explained and composed article, crypto is a stream of water it can offer you water to drink and it can also drown you, most people made this mistake that they only invest when they see a bluish trend, they are consecutive and calculative they don't want to fall to the bears, but doing so you can't loss out at some profit, so is not all the time you pay the self game, it better to enter the market now, no one knows when the next bull run will come..........
You've said it all, crypto's volatility can burn anyone, but then it can be an advantage. Like you've said, some people choose to buy high when the market is on a bullish trend. This way they may not make profit. The people who even choose to buy the top hoping more tops or high will be achieved are the ones making more mistakes. The bull market might just being after the halving, but then we'd be edging towards the end of 2024 before we see any significant push to the bull run. The whole idea is trying to be prepared for it.
This seems a very long bear market and no signs that it will end so far. However, I hope we can stay strong during these hard times and it will pay off next year.
The Do Kwon and Luna plus SBF thingy made this bear market a very unsteady and gruesome. I'm also staying very strong and trying to build. It's been very difficult thus far. Very difficult.
I feel you there, there was a huge flight to safety to bitcoin.
The recovery has been decent though, many predict we'd be 12k BTC by this time around.
I strongly believe this is the right time to accumulate as much as possible before the next huge bull run
Of course, this is the right time
Wow… I really gain a lot from your article may God continue to bless you
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This is very wonderful. We all are seeing the bull run and it is nearby already. It is very important to do our researches about whatever we want to invest in. Either the coin, time to invest to avoid late buying and so much more...
Nice one!
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Me, I'm trying as much as I can to block out all the noise and simply wait for next year when the BTC halving happens. I believe that this will be when we'll really see the momentum we've been waiting for all this time. Until then, the market is most likely going to be sluggish with a few impulse pumps and dumps here and there.
The fear and greed index got so low for so long that even believers almost lost faith. This was typically when the "BITCOIN to 0" aka crypto antagonists and preachers started their FUD. I haven't seen many market cycles, but I was scared and impatient waiting for positive price changes I would otherwise consider insignificant.
Yeah you are right last year is horrible to all crypto users. Hopefully Bitcoin break 35k and start the bull cycle because every very deepress and sad the last year progress of Bitcoin.
a lot of people have time deposits. that's why it's not important, the price goes up significantly. e.g. Frebitcoin and fun token.
many people do not count on profit from the price but from interest
Stagnant periods like these are the perfect time to accumulate. If you believe we’ve made it through the bear and can hold until the eventual bull, it’s just a waiting game.
It's truly a waiting game like you've said. A lot of people often gets confused because of stagnant periods in crypto, some people lose focus especially when they feel they've waited too long and nothing is happening.