What Are The Most Important Crypto Lessons of Today?

in LeoFinance2 months ago


We thought BTC was finally about to hit $70K. At 68k, we assumed the sky was the limit from here. The hype was there, the expectations were there, history says so, and bullish sentiments were there as well, but it fell hard in two days, has been falling for two days now, and we are back at 65K.

So, did someone dump? Is it the ETF's movement? Is anyone taking a profit, unsure whether this is the peak of the run? We do not know and cannot say. We are excited that BTC is finally moving, and then a day later we see a dump that takes us right back where we started.

CRAB-Tober

October has literally been the King of Crab Walk rather than the Month of Gains, and this has not historically correlated. I have said it many times: this cycle is dynamic. At this point, retail is not pumped, and some people are probably exiting, unsure what will happen next in this cycle.

This is the standard playbook.

When BTC moves like this, it is shaking off weak hands. We have not seen the reset that makes people think it is over. Maybe this is it, if BTC returns to 60 from 65k, as it currently is. We have not seen the parabolic movement that causes FOMO, and I believe that until this happens, retail will be afraid to enter the market.

At this point, many shake-ups are still expected, but few believe they will continue in October.

For what it is worth, I do not believe the US elections and other events are the reason we are here; the market is doing some internal cleansing, and to be honest, dips like these are fantastic buying opportunities; it may not appear so, but this is the market giving people the opportunity they deserve. Unfortunately, many people will not accept this due to the uncertainty of whether we will have a run or not.

October Analysis

BTC began the month at 64k and has climbed as high as 68k. Most alts that follow the BTC movement have returned to where they began, even though BTC is still up and no longer where it was at the beginning of the month; however, there is not much difference. It began at 64k and has now reached 65k on the 23rd of the month.

However, it is what it is, and there is absolutely nothing you can do about it.

You can sell everything you own and either leave or wait. Nobody can actually advise anyone at this point. The market is demonstrating that it has not bled out and may require more time to do so, and moments like this are what determine who gets to profit and who has to wait for another cycle.

Crypto Harsh Lessons

When it comes to waiting for the next cycle, it is not always easy. Crypto is gruesome, and if you are not financially secure, the volatility can be detrimental to your mental health. Going through various cycles and having your financial health harmed by the ups and downs is extremely detrimental.

This is why I believe everyone should have a defining cycle in which they can achieve a level of financial independence that is stable enough. When you begin to see the bear market as a wonderful buying opportunity, you will know you are financially secure; however, until you begin to see the positivity of a bear market, you have not made any meaningful money with crypto (unless you are already loaded).

I believe that everyone should strive to reach a position like this. However, it requires risk and guts. Being financially independent with cryptocurrency is nearly impossible, unless you grind and are brave when everyone else is afraid.

In Conclusion

More than half of the population is currently fearful and has given up hope. This is why many people will miss out on good buying opportunities, but I am sure they will not mind; many people do not care how much profit they make from the market as long as they know they will make a profit. It's why most people don't get rich in one or two cycles.

I have previously stated that many people may require as many as 5 to 8 bill runs to make enough money, but 8 bull runs may not be feasible, given that that is approximately 24 years. During that time, a person could be dead, sick, no longer interested in crypto, lost focus, or something completely different.

I am not saying it is impossible to see 8 cycles; it is theoretically and practically possible; however, many people will fade out in their third or fourth cycle for a variety of reasons, failing to achieve the financial freedom they sought at the outset.

To achieve crypto goals, you must be fearless. This fearlessness is how you'll be able to shut out external noise and build and be able to achieve anything with crypto.

In reality, more than half of the population will always rely on bull markets because they were too afraid to participate in bear markets. The most common sentiment is that there will be no bull run, but in 6 to 8 months, the sentiment will be one of regret and pain.



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The markets are unpredictable and I agree that the cycles will eventually fail. I do think that the elections are a reason why we are going sideways. The presential candidate will dictate policies for crypto. As much as I dislike that crypto is going into lobbying as well, it might be a necessary evil.

Let's see how it goes, as much as we're looking at this election, I can't wait to see how it crypto turns out after it's done irrespective of whoever wins. Although I think we might already be going up before this election is done.

@tipu curate

You do need to be fearless, and not foolhardy at the same time. If it makes sense and you're sure it's a win the best time to buy is when everyone else is panicking and selling. If you want to make a living off of crypto it's a rough world, and to be honest it's getting rougher rather than easier.
!hiqvote

It's getting tougher like you've said. If it were easy, we'd probably be all millionaires, unfortunately we aren't. I think it's what separates the fearful from the hopeful, the ability to just do what has to be done.

I see the charts poised for a more bearish move. It might still come down to around $63k then a few minor bulls will follow. But by this time November, from what I can read on the charts, BTC might be trading below $59k. Still, anything can happen.

I don't think BTC will be at 59k by November. Q4 is literally supposed to be bullish, but this cycle has been dynamic. At best everything ends this month and we begin to go up after the US elections

I would say accumulate BTC and a few altcoins once we see another pump take some off the table. I think pump qualifies as 120k Bitcoin +

Well technically you're right. I'd also listen to my advice but I don't have enough money to actually do that.

I was a little hopeful we were going up myself, but ya know, the market does what the market wants.

I wanted to go long on BTC last week, but I noticed a FVG around the 63k price range consistent accross many time frames. I'm sure that's what we're going back to fill, and hopefully October can still be Uptober:)

In reality, October is done, unto the US elections and hopefully from there things might begin to happen.

My friend!! Long time no see! Great to see you are doing well @josediccus😘

Yeah, long time no write. 🙏🙏, thanks, how are you doing too?

sure @josediccus! I see you are doing great 😎😎 i am doing well as well! being more active again.

@thebighigg, the HiQ Smart Bot has recognized your request (2/3) and will start the voting trail.

In addition, @josediccus gets !PIZZA from @hiq.redaktion.

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I always had the feeling that this October may not end as expected. So many factors. Consider the changes in the bitcoin market as ETF get introduced. Next month is the US elections, very skeptical from here.

For me the best approach has been to just buy the really big Bitcoin Dips. Also … collect daily Satoshi from several Bitcoin Faucets and BitAxe Miners.

Well that's a steady strategy too. In the past, I had a lot of faucets, they just mostly turned out to be fake.