The top is usually when people get greedy the most and the bottom is when they get fearful the most which has been said to be an act that is supposed to be done the opposite. During the Bull season we heard a lot of people cry about how they regret not buying earlier and wished they had the opportunity to buy when it was cheap, when your wish has been granted, why not buy it now. I remember when Hive was at an all time high, some of us started wishing we had bought Hive below the $1 price mark, well, not only did Hive get below $1 it is at $0.295, so if you wished Hive was below $1 this is your time. The bear market can test your patience real good, but only paper hands succumb and give up, as for Diamond hands, this is just another day in the crypto winter life.
Sadly, in as much as a lot of people are seeing the current opportunity crypto is presenting to them with the discounted crypto prices, they are still scared to buy the bottom because they are too busy saving up money to buy at the top and sell at the bottom. During the Bull market, lots of people were buying Hive, you get post and tweets from different people stating how much or how many thousands of dollars they have spent buying Hive. Let’s do this maths together, if some one pays $10k to buy Hive at the $3.4 price they would have 2,941 Hive, which at that time is a lot because the value of Hive is $3.4. We are all going to clap for that person for contributing to the Hive market right, this person bought because they were scared of missing opportunities. Seeing that the price is doing well at that time, people naturally get excited and start buying more because they believe in the price at that time.
But if the same $10k was to be used to buy Hive today at $0.295, they will be getting 33,898 Hive for $10k. Which is a lot more than 2,941 Hive, when the price of Hive gets to $3.4 again, this person would have successfully converted $10k to $115k, which is a big 10X, to feel safer they can easily remove $10k or $20k off that to secure their capital. That is the power of buying at the bottom and selling at the top. If I had more than $10k this would be my go to strategy if I had more than $10k right now.
The bottom is usually the time most people neglect the market because they are distracting theirselves from the dip, which is wise but while distracting yourself don’t save to buy the top so you can sell at the bottom later.
Posted Using LeoFinance Beta
