That "Only Thing" You Should Do in a Bull Market(This Bull Market)

in #hive-167922last year

The topic of the current state of the crypto market is highly debatable. Some argue that we're still in a bear market, while others contend that we've already entered bull market territory. Personally, I've held the belief that Bitcoin and certain altcoins shifted into a bull market as early as November of last year.

Not all tradable coins are performers; some have sprung up in early fashion, while others are trailing a bit behind. However, my overall stance is that the worst is likely behind us. When exactly the ongoing correction for BTC will conclude is also open to debate. Despite the patterns we've grown accustomed to over the years, I'm inclined to predict that September will prove to be a favorable month.

Though typically bullish, this year's summer might exhibit distinct behavior. It's a possibility worth considering.

Regardless, while the math behind investing in crypto appears straightforward, in reality, only a handful of us have experienced truly life-altering gains from our investments. What's more, a significant portion of investors find themselves losing money in the midst of cycles or holding underwater bags throughout ensuing bear markets—a trend that tends to follow bull markets.

photo_2023-08-23_11-04-53.jpg

So, why does this recurring scenario unfold? The answer, in my opinion, is rather plain: we fail to sell when the prime selling opportunity emerges. Navigating crypto cycles shouldn't be as complex as rocket science, and neither should bear markets cast a painful shadow over crypto investors.

Few individuals within our sphere actually secured profits during the 2021 bull market. If memory serves, @trumpman parted ways with some BTC when it hit $50k. I'll concede that, at the time, I considered it somewhat preemptive. However, it turned out to be a wise choice—the essence of a successful investor lies in the decision's timing. Additionally, @khaleelkazi mentioned in several past posts that he'd locked in enough profits to navigate the bear market with tranquility.

Numerous crypto investors, however, resist relinquishing their holdings as consistent uptrends take hold, setting themselves up for torment once the bubble inevitably bursts. And rest assured, it will burst. Cycles govern all facets of life, comprising periods of expansion and contractions.

In the ebullient phases of bull markets, we're easily swept up by hype, allowing selling to slip from our minds. This is a matter I'm approaching with gravity for the years ahead. Regardless of whether my holdings reach their intended targets, my plan is to initiate a DCA exit strategy about a year post the April 2025 halving or commence selling as soon as the market enters parabolic territory.

History is destined to repeat itself as some of us fall into the same traps during past bull markets. Mass psychology remains predictable and remarkably susceptible to influence. On the flip side, some won't sell, not driven by the goal of capitalizing on such cycles, and that's perfectly acceptable. For those possessing a remarkably long-term perspective on their crypto holdings, perhaps spanning decades, whether BTC closes 2025 at $30,000 or $100,000 becomes somewhat inconsequential.

However, for us commoners in crypto for the technology and to overcome prevailing financial circumstances, aggressive selling of our crypto assets during bull markets is undoubtedly prudent. Once profits are secured, the bear market transitions into an opportunity. Acquiring coins at lower prices no longer feels burdensome.

Holding onto underwater bags for a stretch of years while lacking funds for reinvestment is unquestionably counterproductive. Likewise, missing out on potential profits casts a shadow of regret. My two cents...

Thanks for your attention,
Adrian

Posted Using LeoFinance Alpha

Sort:  

In my opinion, we are already in the bull market. This is a retest of the and following is consolidation. After all this the next action is a spike.

Let's see how things unfold.

The only crypto I see holding their position is maybe BTC and an even bigger maybe for eth. Anything else is probably fucked.

And let's be honest. 24 k $ per BTC after adjusting for inflation is essentialy lower then the 2017 peak. So talking about circles and past performances...is there really a point anymore? 2010-2021 was a full bullish market so crypto naturally went up and up. The worldwide not-recession we are experiencing has only began and there is a good chance it will soon evolve in a worldwide not-depression.

Summer euphoria is about to end. The real fun begins on September 🤪

I wouldn't count 2010-2011 in the equation...

I agree with you in regards to inflation. Many are not taking into account the depreciation of currencies when talking Bitcoin's price.

The societal collapse will be fun though. Can't wait for it :))

Youre straight up beastin brother, will be interesting to see how things play out. Lets keep working on our mental and physical training, and get in on low prices.

!LOL

What do whales like to eat?
Fish and ships.

Credit: boboman
@acesontop, I sent you an $LOLZ on behalf of captainquack22

(1/8)

PLAY & EARN $DOOM