The Crypto market is in full swing, the buzz and gains feel like 2017 and 2018 again. For those of us that have been around since then, I bet there is a tonne of mistakes you made, because I know I did. And hopefully, that gives us an edge this time around.
During the last bull run, many people lost considerable amounts of money. People were chasing those 10X gains. The new money that came into the market got swallowed as many people invested in high-risk ICO's after missing out on the gains made by Bitcoin. And I can see the same happening with Defi this time round as new money comes into the market. Greed!
If you are new to crypto, don't get sucked into the greed. Trading is risky. Hodling on the other hand is way less risking. So go grab yourself a bag and sit back. Don't waste your time on the hourly candles, the more you zoom in, the less you will see. the less you see, the more you panic. It's vicious. Trust me.
Cryptocurrency and blockchain technology is still considered an emerging market. You are not late to the party. In fact, you still have time to stock up.
So what makes me think this way. Well, Cryptocurrency is an emerging market. Established markets had to start off somewhere too so we can look to other markets and try to make some comparisons.
This first chart is the current Market Cap for cryptocurrency as per coinmarketcap.
This second chart is the Bitcoin chart, also from coinmarketcap
These two charts are very similar as you would expect as Bitcoin is the dominant coin in cryptocurrency. But if you look at any of the other charts within the crypto market, many will follow the same pattern.
This next chart is the Nasdaq chart. Many people have made comparisons between this chart and the crypto market. They are very very similar, although they span a different time period and scale. It's this difference in scale and time period, but the similarity in patterns that have had people guessing where cryptocurrency is on this timeline. So I might as well add my guess too.
Next up is the Dow Jones. Another well-established market that has its dips over time, but overall the lows get higher and the highs keep climbing. This time scale is different again, yet interesting to see the general pattern is not too dissimilar to both Crypto and the Nasdaq.
Finally, this is a chart for gold
All of these charts show a zoomed-out view. No 1-hour candles here, let alone 1 minute. And what all of them show is markets growing over time. With a similar pattern. There is going to be big swings in the crypto market as new money enters. Don't be that noob that gets wrecked chasing the 10x gains. Sit back and ride the waves, show patients not greed and your investment should follow the pattern.
Someone made a comment to me recently that although the crypto highs were getting higher, when the low comes, that will be lower too. Based on the charts above, this is not something I believe will happen. My plan is to hodl. Maybe take a little profit here and there and buy back in at a dip, but I don't think I will risk much for accumulation when the market is heading in the right direction!
This is not trading or financial advice. Cryptocurrency is a volatile market and you could lose ALL of the money you invest. Only invest what you can afford to lose.
Posted Using LeoFinance Beta
Hello stranger!
Hodling on the other hand is way less risking
I would say not, tbh.
It's a defensive, passive - let fate decide- strategy.
It's a mindset more than a strategy, actually - and in my humble opinion, a losing one.
(and not just in crypto)
and that's why your bags are so heavy :-)
My crypto is in LTC and BTC.
My current steem earnings - by using it - on and off crypto, and not hodling - currently stands at around $12.5 per earned steem.
(I stopped calculating with hive - and excel won't do it for me...I need to ask someone about that...Mmmm..lol)
No complaints here.
LTC and BTC are doing well. I expect LTC to continue up now that it's on Paypal
This definitely feels like 2017 - Refreshing my blockfolio and I'm $75 richer than 15 minutes ago.
This time I feel much better set though, having been buying in during the crypto winter. And this time I'm more than happy holding the BTC and other big fellas.
Rune is the only thing I've really bought any serious quantity of recently.
You know I have this feeling Hive might start doing OK when people realise it's one of the few ways they can earn crypto if they don't already have it.
Great advice here!
Hopefully now it's just a matter of sitting back, enjoying 2021 and skimming a little profit off now and then on the way up, hive and leo are great for that.
Posted Using LeoFinance Beta
I am so much better set this time. I started 2017 with nothing. Took profits and am set with a diverse portfolio.
I haven't been doing hive, or leo much the last year, imagine how much more I would have accumulated!!!!!
Well there are only so many hours in the day!
Personally though I think getting the daily post out on Leo/ Hive is a bit of a no-brainer!
Posted Using LeoFinance Beta
I believe this upcoming bull run will really push some outrageous prices up
only time will tell
My bag would be so much bigger if I had just DCAed into BTC and ETH and doubled down on the big dips 😒 Trading alts is like playing the slots smh
Posted Using LeoFinance Beta
hahah I so agree.
In 2017 I miss the best time to sell Bitcoin because I was waiting for more Gain well I'm not going to repeat that again
Posted Using LeoFinance Beta
many people did. do you have a target price?
If I remember correctly it was 21
Bull markets are different to bear markets though. Most people have now been conditioned enough by 3 years of bear that most of the usual sell signals just wont be relevant anymore. Dont underestimate how far and how crazy things can get. As always manage your risk.
I absolutely agree with this.
totally, fundaments go out the window with parabolic candles
There is a huge change in total market capitalisation for last couple of years. the indication is very clear and positive intention. We shalll experience hopefully a lot of adoption in this crypto market
Posted Using LeoFinance Beta
the only way is up (for a while anyway)
Very interesting analysis! Maybe it will be wise to just sit back and relax to enjoy the show that is coming in the next year(s). Bitcoin hodlers cannot do much wrong in this.
Posted Using LeoFinance Beta
well I am enjoying the ride so far. we just need hive to follow the trend
I'm actually new into the crypto world & I'm thrilled to have such great advice.
My most important lesson - " If you are new to crypto, don't get sucked into the greed. Trading is risky,Don't waste your time on the hourly candles, the more you zoom in, the less you will see, the more you panic. It's vicious."
Posted Using LeoFinance Beta
Welcome to the world of crypto. Im glad my advice was valuable
Zoom out...fully agree
But hodl...not so much....take profits on the big peaks, and buy on the big dips!
Posted Using LeoFinance Beta
any time I try take profits the lows get higher, it never works for me
Great advice for a noob investor like myself. Do you have any other helpful hints or lessons learned? Thanks for posting.
It's a crazy game. be careful with possible rug pulls on new coins. uniswap tokens are mad. check and see how many wallet holders there are and at what %s before you buy in :-)
Crazy sums it up pretty well. Thank you for the advice. I will use it in the months to come. I personally favor a careful approach as I have such basic knowledge of finances.